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Closing a Bank Account

Where can I find details regarding a bank's code of practice on closing an account? How much notice do I need to give?

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In most cases, you'll find a bank's policy on closing accounts in the latter portions of its deposit contracts. Customers generally have no advance notice requirement; banks usually agree to provide ten or more days' notice, particularly regarding checking accounts.

Many banks include language allowing them to close an account immediately (with no notice) in the event of fraud. If you have a question about your own bank's policy, contact the bank.

Published on BankingQuestions.com 10/23/07