One or two things have occurred that made you want to close your bank account to find a bank that meets your needs.
Probably, you are unhappy with the bank on how they handle things like money transactions, network issues, credit card issues, etc.
Then you decide to look for how to close a bank account online
in 2022 or the closing bank account letter.
Alright, you’re in the right place.
Instead of leaving your account inactive and unused for an
extended period, you need to close the account.
This is to avoid the risk of being charged monthly fees,
freezing your account, and the rest.
Here on this page, you will get to see the simple ways on how to
close a bank account online for free in 2022.
Let’s quickly see the steps below.
How to Close a Bank Account Online in 2022/2023
Below are simple ways to follow so you can close a bank account easily.
1. Open a New Bank
Account
Before closing down your old bank account, you need to open a
new bank account to replace it.
Now, please note the significant reasons you run from the old
bank account that made you decide to close it down.
Perhaps, you decide to look for a bank account that doesn’t
charge monthly fees and provides full-time support, ATM Cards flexibility, etc.
And also, a bank that provides some interest on the cash you
have in the account.
If these are things you are searching for, make sure to check
out the options before opening a new bank account.
And make sure the new bank account meets your needs anytime, any
day.
2. Update Debit and
Credit Cards Details
Once after open and switching to your new bank account, you need
to update and change all your payment information.
Including the details for bills, utilities or direct deposit to
your new account
Your new bank account agent or representative can help you with
the transfers and update the necessary details.
They will contact your old bank and get a list of your direct
credits and debits, then update and shift them to your new account.
Some of these will include things like:
- Direct deposits.
- Direct debit payments for
loans.
- Direct debit agreements for
payments of bills, insurance, subscriptions, etc.
After updating your details with the new account, you can submit
your new routing and account number to your employer or payroll staff.
This is to ensure your salary goes to your new bank account when
paying salaries.
Also, give out the new account details to anyone who pays you
directly to the bank account.
3. Back-Up Plan
See, if you are looking to close a bank account, you must have a
backup plan.
Think of a backup plan before switching entirely and moving all
the cash in your old bank account to the new bank account.
Here is what I mean; there is every possibility that you might
forget something, thinking that you have cleared all your direct debit
payments.
Now, to be on the safer side, you have to leave some little cash
over in your old bank account for a short while to cover any unseen direct
payments.
Doing this will help you avoid penalties or missed payment fees.
4. Close Your Old Bank
Account
Now, it is time to close your old bank account and ensure that
your new account is very active running properly.
Also, make sure all your direct credits and debits have been
updated and transferred over to the new bank account.
And you have submitted your new account details to anyone that
makes direct payments into the bank account.
Then, it is required you close the old bank account to avoid
other accumulated charges, of which some banks charge some fees for inactive
accounts.
While some other banks charge monthly fees for inactive
accounts; and this can cause an overdraft on the account.
To close your old bank account, you can call and ask them to
know the process involved.
Most banks might require you to go to any of their branch
offices to close your account.
However, you might need to present a closing bank account letter
and request it in writing together with your signature to confirm the process.
Indeed, closing a bank account is not a complicated process; all
you need is to ensure everything is in order with your new bank account before
shutting down the old one.
Once everything is put in place, then the process will be smooth
and easy.
That is all you need to know about how to close a bank account
online in 2022.
Hopefully, I believe you enjoy this article, do share it with
your friends.
Enjoy!
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