Under what circumstances can a current account be closed?

An account can be closed under the following circumstances:
  • On accountholder's request

    Accountholder must provide a written request and return any unused cheque leaves for cancellation

  • On discretion of the bank

    Your bank may close your account if you regularly issue dishonoured cheques or if your account is inactive (dormant account). In such cases, the account will only be closed after sufficient notices have been given in writing to the accountholder. A notification letter will also be sent to the accountholder once the account is closed

Reprinted with permission from BankingInfo (A Consumer Education Programme by Bank Negara Malaysia)

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Knowledge Base ID :   1377
Last Reviewed :   April 30, 2014
Source :   BankingInfo
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