How to close a bank account?

If your existing bank account offer has stopped responding to us, we have the right to cancel your account. However, before we proceed to the appropriate actions, let’s check the following information:

  • notice period – you can close your bank account right away or, for example, within two weeks. It all depends on what the contract signed by us says about it. This is where we find information, how much time the bank needs to liquidate our account. This information can also be obtained by calling the hotline,
  • the cost of breaking the contract – if we opened a bank account as part of the promotion, we could at the same time undertake to maintain it for a certain period of time. Failure to comply with such a contract may result in a financial penalty. If the fee for breaking the contract is high, it is better to wait until the end of the designated period,
  • the cost of closing the account – it is hard to believe, but some banks still charge fees for closing the account or for accompanying activities, eg transfer of funds to another account. So let’s check what procedure is used by our bank and whether these fees can be circumvented,
  • way of closing an account – in some banks it can be done online, others require a personal visit to the facility. Sometimes an account can be closed by sending a resignation by registered mail. If we decide on a method that does not require us to visit the bank personally, check if the bank will not want additional documents confirming our identity, e.g. a personal ID scan,
  • how to handle a payment card – the card should usually be returned to the bank. Sometimes, however, banks agree to destroy it by the customer. It is worth asking in the bank what position it adopts in this matter.


Keep before closing

bank account

When closing a bank account, remember to save the most important information, that is:

  • transaction history – if it can not be easily saved in a file, you can always save it in the form of screenshots,
  • confirmations of transfers in the form of .pdf files – if we make the payment of invoices via the internet, we need such confirmations to prove the fees paid by us. Evidence in this form is needed to clarify any disputable issues with suppliers of various types of services.


Write a notice

close bank account

After saving the data, we can begin to terminate the contract – this letter will be the basis for the closure of our account. Some banks have special forms. It is worth looking for them on bank websites or in stationary branches. However, if we do not have access to such a print, we can create a notice ourselves. Here’s what it should contain:

  • data of the person to whom the account belongs – address, pesel number, ID number, contract number – in a word, everything that will help to identify the account holder,
  • information about which account we close – the bank must know exactly what account we want to close. This is especially important if we have more than one account in a given bank,
  • account cancellation date – you may want to close your account as soon as possible or, for example, for a month. The bank must therefore have accurate information on when to close the account,
  • the number of the new account to transfer funds – if we have funds in a closed account, the bank will transfer it to the account indicated by us in the termination. However, it is better to make such a transfer yourself before delivering the notice to the bank – it will protect us against potential costs in this respect,
  • how to deal with a payment card – when we know how to “utilize” a payment card prefers a bank, in the application for closing the account should be marked, what we plan to do with such a card, for example, commit to destroy it yourself, send it to the bank address or personal return in the facility,
  • a possible request for the deletion of personal data – if we are not already connected to the bank, we can withdraw all our prior consents. Thanks to this, you will not be flooded with offers that you do not want to get.

The notice formulated in this way is delivered to the bank in a manner preferred by the institution. If the bank has a period of notice, it will be counted from the date of receipt of our letter. Let us therefore be patient and wait for the successful conclusion of the matter.