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One practical step

Money

Close an unused account when appropriate

Obligations are checked and closure evidence is retained.

  • Time: Not specified
  • Cost: Not specified
  • Impact: Not specified
  • Difficulty: Not specified
  • Evidence not rated

Done when

Obligations are checked and closure evidence is retained.

Obligations are checked and closure evidence is retained.

Who this is for

Owners of unused accounts; resolve dependencies first.

Why this matters

You check whether anything still relies on the old account.

How to do it

Guidance compiled from the references below; follow the applicability notes for this item.

  1. Check automatic deposits, bills and outstanding amounts.
  2. Ask the bank about this account's closure process and fees.
  3. Move necessary transactions, close as instructed and retain confirmation.

Evidence and references

Last reviewed: · Version 2