How long does it take to close a bank account? A day or more than a day. You’ll get the answer on the post and also how to close a bank account.
How long does it take to close a bank account
Closing a bank account doesn’t take long at all as long as you have the necessary requirements needed from you to close your bank account.
This comes in handy if the account is that of a dead person. Closing a dead bank customer account can be cumbersome if the required information is not provided.
However, closing a bank account should take a maximum of five hours for the process to finalize.
In the case that the account holder is alive, all you need to do is to first withdraw or transfer the remaining money from the bank account you want to close, to your new bank account.
If you have an outstanding debt with your bank, clear up everything and make sure there’s none remaining. After that, you can now proceed in closing your bank account.
Back to the question of how long does it take to close a bank account. It takes a day for a bank to permanently close a customer’s bank account.
They might send you a notice that your bank account has been successfully closed, though many will not send this message. In order to check it, your bank account is closed by your bank, you can try using mobile banking.
If trying to access it isn’t going through, then you should know that the account is closed. Another method is by contacting your bank and inquire if they have closed your bank account.
They will run a check on your bank account and give you feedback if the account is still active or been shut down.
So this is the answer to the question of how long does it take to close a bank account, now let’s move over to how to close a bank account.
How to close a bank account
There several methods on how to close a bank account, and they include going to the bank, closing your bank account online, contacting your bank, or sending a mail.
However, the best method to close a bank account is by going to the bank. You speak with the bank customer service representative face to face, and if there are any necessary requirements needed from you, you clear it up right away.
1. Going to bank
This method is the most recommended way of closing a bank account. You go to the bank, head over to the customer service section, and speak with any of them requesting that you want to close your bank account.
First, they will request your account number and in turn, run a check to see if there’s any outstanding debt. If there’s none, you’ll be issued an account closing form to fill.
You’ll have to fill the form with the required information needed from you. Submit it back to the customer service representative.
If there’s a sum amount of money in your account, the bank will give you the money the bank and finally close the account.
2. By contacting your bank
Another way to close a bank account is by contacting a bank customer service care helpline. If the customer care service number isn’t 24hrs available, try to call them during working hours.
When you call them, first explain who you’re, where you’re calling from and this is followed by the reason why you’re calling the helpline.
You want to close your bank account.
They will definitely ask you the reason why you want to do, you can give any reason best known to you.
The customer service representative will request your bank account number and details, and also will ask you some questions in order to be a hundred percent sure that you’re the owner of the account.
After the verification and checking your account to see there’s no debt, the customer service representative will proceed to close the account.
If there’s money in your account, they will ask you to give them any account to transfer the money, or you withdrawing the money.
3. Through online
There are some banks that made a provision for their customers to close their bank account online. It can be through internet banking or through the bank mobile banking app.
First, you need to confirm from your bank if it is possible to close a bank account online. That is usually internet banking and mobile banking.
If that is very much possible, go to your internet banking page or mobile app and navigate to where you can close your bank account. Follow up the process using the onscreen instruction.
If you’re confused about how to go about it, you can contact your bank for detailed guidelines.
4. Sending a mail
I know some quite number of banks that allow the customers to close their bank account by simply sending a mail to them.
In this case, you’ll also have to inquire from your bank if that is possible. If the answer is yes, request for the mail address and the necessary requirements needed from you to close your bank account.
It shouldn’t take more than 20hrs for the bank to get back to you and confirm that they received your mail and have successfully closed your account.
If there’s some amount of money in your account, the bank will pay you in cash or transfer it to your preferred bank account.
Closing a bank account of a deceased relative bank customer
This is closing a bank account that can be cumbersome it the necessary requirements are not complete.
To close a dead person bank account by its relatives or family can take some time, but if the requirements are readily available, it shouldn’t take more 24hrs to do so.
Note the requirements depends on the bank, and also the banking system in your country.
Here in this country, you need to provide the followings documents and information;
- The dead person account number
- His or her full name
- Date of birth and address
- Death certificate
- Next of kin signature
- A will
- Letter of administration
To close a deceased relative bank account requires this information and documents, thought the bank will guide you through the process.
Kindly note that the next of kin should be available, cause it is through the next of signature that the bank will successfully close the deceased person’s bank account. Not only that, transfer or give the amount of money remaining in the deceased person’s bank account.
How long does it take for a bank to close your account?
Again the answer to the question is a maximum of 24hrs and if there’s a sum amount of in the bank account, the will pay you in cash or transfer it to your preferred bank account.
This is where I wrap it upon how long does it take to close a bank account and also how you can close a bank account.