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Bank account closure by not paying quarterly fees

  • 22-04-2021 8:09pm
    #1
    thenextfella
    Registered Users, Registered Users 2 Posts: 1 ✭


    Hi guys,

    I'm abroad now.
    I'm a foreigner and I've spent a few years in Ireland.
    I want to close my bank account in Ireland - can I simply do it by not using it and being charged/not paying for the quarterly fees?
    I've already tried to do it by sending in the documents, but it turns out I need to send an account closure form, and the one I've sent, written by me, won't suffice - the bank's agent didn't inform me I would need their ready-made form and didn't supply me with it, when I first inquired about closing my current account.
    Now, if I was to send in this form, before it arrives, I will be charged with another quarterly fee at the beginning of May.


Comments

  • #2
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,601 Mod ✭✭✭✭Jim2007


    The only way to prevent future fees accruing is to close down the account as required.

    What happens otherwise is anyone’s guess, the bank might close it themselves after a while and just write the outstanding fees off or maybe not. If not, then eventually if outstanding fees reached 500 Euro, it would become a credit reporting issue.


  • #3
    garrettod
    Registered Users, Registered Users 2 Posts: 2,456 ✭✭✭garrettod


    I know of one idiotic bank that insisted on applying quarterly management fees for a current account that it know wasn't in use, and it had refused to close, for the most rediculous of reasons.

    They sent a series of letters which got progressively more nasty, then ultimately, things went quiet. I later discovered that they had written off their fees and closed the account - just like they'd been told to do about a year earlier.

    Unbelievable stuff really - it had all the signs of trying to stop someone from being able to close the account, while they continued to charge fees. Anti consumer, to say the very least...

    Thanks,

    G.



  • #4
    phormium
    Registered Users, Registered Users 2 Posts: 3,395 ✭✭✭phormium


    Send them in the form with a note that you want the May fees waived as you were not given the right closing info.

    Just leaving it there and not paying the fees does not ensure it's closure, the fees will just keep accumulating until probably the bank will write it off but it's messy, I'd prefer to have it officially closed.


  • #5
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,601 Mod ✭✭✭✭Jim2007


    garrettod wrote: »
    I know of one idiotic bank that insisted on applying quarterly management fees for a current account that it know wasn't in use, and it had refused to close, for the most rediculous of reasons.

    They sent a series of letters which got progressively more nasty, then ultimately, things went quiet. I later discovered that they had written off their fees and closed the account - just like they'd been told to do about a year earlier.

    Unbelievable stuff really - it had all the signs of trying to stop someone from being able to close the account, while they continued to charge fees. Anti consumer, to say the very least...


    Why do you think it is ridiculous for them to expect you to uphold your end of a legally bind contract that you signed up to of your own free will?



    The T&C for the services you signed up for includes the procedures to be followed in the event that you wish to terminate the agreement. If you did not follow the correct procedure you have nothing to complain about.


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