Does a bank in Ontario need probate before releasing a dead person's account?

Often yes. An estate normally must be probated if the deceased owned assets held by a financial institution in their own name. Any limit for smaller balances is the bank's own policy, so it can vary, and you should ask yours what it requires.

Some accounts avoid the estate. Jointly held assets that automatically pass to the other owner are not part of the estate, though a joint account with an adult child, opened without payment, can be presumed held in trust for the parent's estate unless there is evidence the parent intended survivorship. Registered plans such as RRSPs and TFSAs with a named beneficiary are also outside the estate.

If probate is needed and the estate is worth $150,000 or less, the simplified Small Estate Certificate process may be available. Those applications are usually processed within five business days, compared with 15 business days for other applications. Processing takes longer if documents are missing. Estates over $150,000 must apply for a Certificate of Appointment of Estate Trustee instead. Ask the bank in writing what documents it will accept.