Closing a bank account

Random

To close a bank account can I just send a letter to the bank? Do I need to call in? Can I do it over the phone?

I have 2 accounts with one bank. Will closing a bank account effect my credit ratings or anything? Or will it just be accepted as something that happens?

Cheers

padmack

To close a bank account they bank requires that you do it in writing so a letter signed should suffice. If your accounts are all in credit or at least nil balance you wont have any problem with a credit rating.

Your credit rating is only affected by the bank writing off a bad debt that you may have created through poor conduct. The write-off is then given to a debt collection agency and they put your name/address up as a warning to credit institutions nationwide.

Watch out for Government stamp duty on ATM cards though!

Random

I'm gonna pop into the bank on Monday and see if I can do it there, even if it means writing a letter in front of them.

Ruu_Old

I think there is a fee involved in closing accounts (at least with BOI) and in writing is the norm.