Can you close a bank account if it's slightly in overdraft?

[superfantasties]

My Standard Bank account stands at about negative R150 at the moment. Do you think they will let me close it? I don't really use this account anymore and I've just been very busy up until recently so I kind of forgot about it. Not really amped to give them R150 just to close it, I'm poor

[WPD]

They'll probably ask you to pay the balance.

If it's all made up of bank charges though you could ask for the manager and have them write it off. Not sure if kicking up a stink is worth it for R 150 though.

[biometrics]

No. Took me five visits to close a Standard Bank account.

[DrJohnZoidberg]

The balance must be zero in order to close an account. You will have to go to ask them to close the account, then they will tell you how much you need to pay in. Even if the amount now is 150, it may end up being a little more as they add any fees that have not yet reflected on the balance.

So my advice is to do it asap.

[cbrunsdonza]

No

I closed my cheque account two months ago and had to make 100% sure that I did not have any pending transactions before I could else the account would auto reopen.

[Pienats]

I think the short answer is "no". I once closed an account with Nedbank that had a positive balance, and still had to pay a small amount INTO the account to cover additional charges. Granted, the positive balance wasn't terribly big at the time though...

[Pienats]

I think the short answer is "no". I once closed an account with Nedbank that had a positive balance, and still had to pay a small amount INTO the account to cover additional charges. Granted, the positive balance wasn't terribly big at the time though...

Not that I have terribly big positive balances at the moment moment either.... :S

[blunomore]

The ****ers at ABSA made me pay R50 in bank fees before they were willing to close my account.

[ToxicBunny]

The simple answer is no..

But it all depends on the type of account... SB put my savings account into overdraft and demanded I pay it, until I pointed out the small little fact that a savings account should NEVER be able to go into a negative balance, and that I refuse to pay anything... if they wouldn't close the account, they can keep it open at their own expense.... amazing how quickly the account was closed after that.

[Borrels]

When I closed my Standard Bank cheque account they insisted on paying out the balance of R2.49 after back charges. Even though I told them to keep it, they insisted they cannot close it until they pay out the balance. It took another 20 minutes to settle this, because the lady closing my account can of course not do this herself. 20 minutes for R2.49 - that's Standard Bank for you...

[Swa]

They have to close it. If it's in overdraft they can send you an account for it but if it's just bank charges not as it should have auto closed as soon as funds were up.

[gregmcc]

Obviously not - you owe them money. How would you feel if you had R150 in the account and they closed it for you and kept the money?

When I closed my Standard Bank cheque account they insisted on paying out the balance of R2.49 after back charges. Even though I told them to keep it, they insisted they cannot close it until they pay out the balance. It took another 20 minutes to settle this, because the lady closing my account can of course not do this herself. 20 minutes for R2.49 - that's Standard Bank for you...

Its all about checks and balances - if they are 1c out at the end of the day there are questions.

[undesign]

My Standard Bank account stands at about negative R150 at the moment. Do you think they will let me close it? I don't really use this account anymore and I've just been very busy up until recently so I kind of forgot about it. Not really amped to give them R150 just to close it, I'm poor

Yes, but first increase your overdraft to R20k, withdraw everything and then close...

...not. Of course you have to pay the R150, you owe it to the bank. ;-)

[The_Librarian]

Back then we had a credit card with Blapsa. Horribly into overdraft, and we could not catch up.

So we made a loan at DirectAxiz (they were the cheapest option back then), paid Blapsa in full, closed the CC up.

Which :

1. Removed the temptation to use the CC
2. Had we loaned money at another bank, the temptation would still be there to use that account for further loans. So we cut that route off as well.
3. Enable us to cut the expenses associated with a Blapsa CC totally. We then never had to pay off CC fees, banking fees, etc etc, just the money we owed for making the loan in the first place.

We're better off without the temptation of a CC. Those are just plain evil, and should be banished to the lowest level of Hell.

[Swa]

Obviously not - you owe them money. How would you feel if you had R150 in the account and they closed it for you and kept the money?

So they can keep charging account fees? Nope if it's money he owes they can send an invoice. When my FNB account went into arrears they just closed it automatically. I don't know if Standard Bank works like that too but if they don't they are in the wrong.