For any amounts owing on overdrawn accounts, personal lines of credit or personal loans, IMB reserves the right to combine the balances of two or more of the deceased member’s accounts. For example, funds from a transaction account or term deposit may be used to clear overdrawn accounts, personal lines of credit or personal loans of the deceased member. This is explained in Section 16 of IMB’s Product Disclosure Statement.
If there are insufficient funds available to cover the amounts owing on overdrawn accounts, personal lines of credit or personal loans, the Estate may be liable for the monies owing. We will contact the Estate Representative directly about these accounts and any additional requirements to finalise them.
