Just like the banks allow the customers to open a new account by multiple means or ways. They also allow to close it by various means or ways.
But the question is which is the most efficient way to close a bank account?
Which way should you follow to get the account closed as quickly and efficiently as possible?
I will tell you about the it today.
Closing the bank account quickly also depends upon you and how you have set up the account. You should make sure that you are following all the terms and conditions of the bank.
There are a ton of things that should be followed. And these things usually change from bank to bank. So you should visit your bank’s official website and check on the FAQ page.
There you can find the terms and conditions that you need to follow to close the account. If you don’t want to mess on the website of your bank.
Then give a call to the customer service of your bank. Ask them what are the arrangements you have to do to close your bank account.
Let us make everything aside and talk about the money you have in your account. It is very obvious that if you have an account then you will have money in it.
But to close your account efficiently and quickly there should be no balance in your account. You should take all the money out of the account.
Because if you don’t do it then the bank will have to do it for you. This will simply make the process more complicated. And at the same time, it will consume more time.
What is the Most Efficient Way?
When here I use the word Efficient, I am not talking about the speed or how little time it will take. I am talking about the success rate.
That is about the amount of energy you put into the work and what success you get from it.
Now say your bank allows you to close the account online.
If you don’t know about it then you should also keep in mind that the banks allow closing the account online. For example Santander Bank, Bank of America, PNC Bank.
These are just a few banks that allow closing the account online.
So when you are allowed to do it online. Then why use any other method? Just get it done from the comfort of your home.
Which is the Most Efficient Way to close a bank account? The answer is online.
It is very simple to close an account online. Make sure there are no funds in your account. Login not your bank account online.
There will be a separate service requests area in online banking. Select that and look for “Account Closure”. Enter the reason why you want to close the account online.
And proceed with the flow online.
By doing this you are raising your request with the bank to close the account. But there are chances the bank may reject it.
What to do if the request is rejected?
There is no need to worry at all. If your balance is zero and you make the request in the right way. Then the chances bank will reject your request is very less.
But in case if it happens.
Then give a visit to the branch of your bank. And complete the process is as simple as that. But the chances of rejection are very less online.
Provided you follow the below conditions,
- There should be no fund balance.
- The account should be active. (If you don’t know learn how to check here)
- And the account should not be held on freeze by the bank.
So closing the bank account online is the most efficient way. That is because the energy and the time you are spending here is very little. And there are very high chances that the bank will accept your request and close your account.