Closing a Bank Account
To close an account you will probably need to go to your branch. Be aware that maintaining a balance of EUR 0 will not cause the automatic closure of an account.
You, and when applicable all the owners of the account, can request to close an account at any moment, however a notice of not more than 1 month might be required by the institution to do so.
However, if you don’t agree with any change in the terms and conditions that the institution may present during the life of the account, you can close the account with immediate effect. In this case, the request must be done by you before the entering into force of the measures presented by the institution.
To close an account, it is necessary that:
all the account holders give consent to do so;
all the owners deliver to the institution any payment cards, cheques and any other means of payment related to the account;
the account has a positive or nil balance;
any credit agreement, as loans or overdrafts are fully paid or an agreement on the respective payment was done.
You should also:
ensure that there aren’t any direct debits or standing orders still active in the account;
delete the account number and associated card(s) number(s) from any e-commerce or online payment sites where you may have previously used them;
make a backup copy of the statements of your account;
request a document showing evidence that the account was closed.
Institutions cannot impose fees for closing an account. The exception will be for accounts opened for less than 12 months, where the institution might impose you the payment of the administrative costs related to the account.
In those cases where the holder of the account has died, the legal heirs must be the ones to carry out this procedure, providing all the documentation required by the bank.