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  Home >> Accounts >> Business Accounts  
Closing Business Bank Accounts

If a business has operated successfully with a banking institution for four or five years, what would cause the bank to send a notice that they are closing all of their accounts in two weeks?


This would be completely speculative, but the bank either didn't like the transactions they saw being processed, and/or determined that the account was too costly for the bank to maintain. There could be countless other reasons.

Banks are private entities. As such, they can choose who they want to do business with and are not required to provide a reason for not wanting to do business. This is the same as if you decided you wanted to move your account. You could close it without telling them why.

You can ask the bank why, but they don't have to respond. Try finding another bank.

Published on BankingQuestions.com 5/29/08