Closing an account
November 3rd, 2023 
Login, select the Contact menu item and request an account closure.
There are no costs and funds will be returned after giving service providers seven business days’ notice regarding any expenses outstanding.
As soon as we become aware of a departure, we will:
- Send an acknowledgment to the account’s representative (power of attorney) with the existing balance and notification that the funds will be returned by EFT after seven business days, or alternative time where directed by the care organisation. This will be less any invoice deductions dated prior to their departure.
- Send a notice to all service providers, giving them five business days to ensure all pre-departure invoices are entered.
- In the first instance, the money is returned automatically to the bank account details we have on file (direct debit) for any value of monies held.
- Where the bank account is not on record or the account is closed, refunds:
- under $500 are sent to the next of kin, maybe, with a signed indemnity;
- over $500 and under $15,000,
- request the solicitor acting on behalf of the Estate’s contact details and bank trust details to send the monies;
- where there is no solicitor, Capital Guardians Managing Director Approval may be granted to send the monies to the next of kin as an alternative to depositing with Unclaimed Monies; and
- over $15,000, require a solicitor to prepare a Grant of Probate, being a document issued by the court certifying the will’s validity and confirming the appointment of an executor to administer the deceased estate.
- Money is returned by electronic transfer.
Please note, Capital Guardians is regulated under ASIC as a provider of financial services and all money must be returned, regardless of value. If we cannot return money after making reasonable efforts, money will be sent to the relevant government office (unclaimed deposits) after 12 months.
