The days after a death
The bank froze the account
The finding
There is no dollar threshold in law for a bank releasing a deceased person's funds without probate. The Bank Act contains no small-balance payment provision, no death-related dollar threshold, and no provision that requires or authorises freezing an account on death. Every number you see quoted on bank help pages and blogs is that institution's own policy, not a legal rule. Saskatchewan's Court of King's Bench puts it plainly: for financial assets, whether probate is needed will depend upon the policies of the financial institution where the assets are held. The British Columbia government says the same, that each institution has its own policies about what it requires. The practical step is to ask your institution, in writing, exactly what it requires to release the funds.
The two credit-union permissions that do exist
Two provinces publish a statutory permission that lets a credit union pay out a small amount without a grant. Read each as a permission granted to the institution, not an entitlement of the family. In Ontario, a credit union may pay a person it is satisfied is entitled, up to a prescribed amount of $50,000, and the payment discharges the credit union even without letters probate; the same law still lets the credit union require additional documentation as it considers appropriate. In Manitoba, the maximum is $5,000, and the credit union may still require such other proof as it requires. These are confirmed for Ontario and Manitoba only. Do not assume another province has one.
If you are in Quebec
In Quebec, a joint account is frozen on the death of one of the joint account holders. Quebec has no joint tenancy with right of survivorship, so the rest-of-Canada assumption that a joint account passes automatically to the survivor does not apply here.
What to ask, in writing
Because the requirement is set by the institution, ask it directly and in writing: what does it need to release these funds, and is there an amount it will release without a grant? Get the answer in writing so you are working from the institution's own stated policy, not a number from a help page.
Common questions
Is there a dollar amount a bank can release without probate?
Not in law. The Bank Act sets no death-related threshold. Any figure you see is that institution's own policy, so ask your institution in writing what it requires to release the funds.
A credit union told me it can pay out a small amount, is that a right?
No. Ontario and Manitoba publish a statutory permission that lets a credit union pay a small amount without a grant ($50,000 in Ontario, $5,000 in Manitoba), but it is a permission to the institution, not an entitlement of the family, and the credit union can still require more documentation.
We had a joint account in Quebec, is it frozen?
Yes. In Quebec a joint account is frozen on the death of one holder, because Quebec has no joint tenancy with right of survivorship. The rest-of-Canada assumption that a joint account passes to the survivor does not apply.
Where to go from here
General information only, not legal advice. Guidepost is not a law firm and cannot direct a bank's decision. Full disclaimer. Last updated: July 2026.