Banky team Reviewed editorial answerThe deposit becomes part of the estate's assets, and after the bank learns of the death, it is not assumed that the heirs can dispose of it unilaterally.
The heirs complete the necessary paperwork, and then the bank determines the maturity date or early withdrawal according to the deposit's terms and its effect on the return.
The figures, fees and limits in this answer vary by bank and change over time — confirm them with your bank or the official source before acting.