Closing Accounts - Office

Checking and Savings


Overview

When a client requests to close an account, take the opportunity to discuss the reasons for the request.  

A written request is required to close an account with a balance of $100 or more over the phone. Accounts can be closed over the phone if the amount is less than $100. 

Acceptable written requests include:

  • Online Banking message
  • Signed fax request
  • Signed written request, in either of these two forms:
    • Mailed to CCSC
    • Scanned and sent to CCB's box.com account

Click on the accordions below for more details regarding closing accounts.
Click on the Video tab for a short instructional video.

See Closing Certificates of Deposit (CD) for details on closing CD's.

Account Verification

If a client wishes to close an account, do the following:

  1. Identify the client.
  2. Verify the individual is an authorized signer and owner of the account by viewing the signature card and resolution, if applicable.
  3. Verify the account opening date, account balance and closing amount on the DDA inquiry screen.
  4. Review the account inquiry screen for Holds and Alert Messages. 
  5. If the account is closed within 90 days of opening, collect the closing fee.
    • Select Fees from Related Functions.
    • Use code AC - Account Closed W/In 90 Days of Account Opening Fee.
  6. Print the account history.
  7. Ask the client to review the history for any outstanding items.
  8. Verify any outstanding ATM/Debit Card transactions.
    • All outstanding ATM/Debit Card transactions must pay against the account before closing.

Delete

Review accounts for sweeps prior to closing

To determine if Sweep service exists, do the following:

  • In Xperience click Customer & Account Inquiry. 
  • Search using client name, CIF, SSN, or account number. 
  • If a sweep currently exists, the banner messages display either Sweep Child or Sweep Parent. 


Delete

Close account requests by mail

If you receive a request to close a DDA account by mail, do the following:

  • Open the following Synapsys service event: Service Session > Deposit Services > DS- Other Maintenance.
  • In the summary line, enter the message: Close Account Mail Request.
  • Scan the documents received and attach to the service event. 
  • Send the event to Deposit Services.  
Delete

Close due to dissatisfaction

If the client is closing the account due to dissatisfaction with the bank, do the following:

  • Attempt to resolve the issue to keep the account open.
  • Use good judgment and consult with your manager.
  • Verify if there is an Officer assigned to the account.

The Officer should be contacted if one of their clients is requesting to close an account.

Delete

Close due to death of account owner

If closing an account due to the death of the client, do the following:

  • Review the account history to determine if there are any direct deposit items that may be reclaimed by the remitter (for example: Social Security benefits, Disability benefits, VA benefits. payroll direct deposits).
    • Contact Call Me Direct (CMD) at ext. 397100 for assistance.
    • Accounts with outstanding debit items cannot be closed until all items have cleared.
  • Complete a Synapsys service event

See Deceased Client - Account Access for more information.
Delete

Debit Card Maintenance

To close the last consumer checking account linked to a debit card, do the following:

  • Change the card status to Hot(H).
  • Destroy the debit card in the presence of the client.

To close a consumer account tied to a debit card that will remain in use, do the following:

  • Create a Synapsys service event - DS - Card Maintenance to remove this account from the card.
  • Ask the client to choose a new primary account for the debit card.
  • List the account number on the service event if the closed account was the primary on the debit card.

To close a business account tied to a debit card, do the following:

  • Business debit cards are tied to only 1 account and can not be assigned to a new account.
  • Change the card status to Hot(H).
  • Destroy the debit card in the presence of the client.
Delete

Other Services

Clients may have other services associated with accounts being closed (for example: Sweep, Overdraft Protection, Online Banking). Maintenance of these services is performed by completing a Synapsys service event.

Delete

Current Balance - Negative


Negative due to client transactions (and fees)

  1.  Give the client options to make a deposit to bring the account positive, using one of the following methods:
    • Bank to Bank transfer
    • In person deposit
    • Mail deposit
    • Mobile deposit
    • Online banking transfer
  2. Look at the relationship and follow guidelines to refund fees as necessary.
  3. Inform the client that the account will not be closed at this time. 
  4. Guide the client to contact the bank once the account is at a positive (or zero) balance to close the account.

Negative due to account service charges


When an account is negative due to account service fees and the client wants to close the account, do the following:

  1. Give the client options to make a deposit to bring the account positive:
    • Bank to Bank transfer
    • In person deposit
    • Mail deposit
    • Mobile Deposit
    • Online Banking transfer
  2. If the client requests an exception, do the following:
    1. Use your best judgement.
    2. At your discretion, waive up to 60 days (2 months) of account service fees. Refund fees by clicking Xperience > Customer & Account Inquiry > Service Fees > Today's Fees.
    3.  To make exceptions, see your supervisor. 
  3. To determine if the account can be closed at this time, do the following:
    1. If the account can be brought back to a zero balance while on the phone with the client, go to step 4. 
    2. If a deposit is still needed, inform the client that the account will not be closed at this time. 
    3. Guide the client to contact the bank once the account is at a positive (or zero) balance to close the account.
  4. Verify any pending/outstanding items.
  5. Inform the client that the account will not close if an outstanding item clears through processing.
  6. Ask the client to destroy his/her checks and/or debit card.
  7. In Passport, status the debit card to hot.
  8. Click Xperience > Silverlake > Streamline Platform Menu > ATM Card Maintenance.
  9. Enter search criteria, and then press Enter.
  10. Choose card and enter option 2 = Change.
  11. Update Card Status to H.
  12. If the client has e-statements, do the following:
    1. Encourage the client to download statements for his/her records.
    2. Inform the client that e-statements are deleted after 30 days. 
    3. If this is the last account the client has with the bank, inform the client that he/she will lose access to Online Banking within 30 days.
  13. Open the following Synapsys service event: Service Session > Deposit Services > DS-Close Account Zero Balance.
  14. Complete all required fields.
  15. Be sure to include the close reason.https://static.helpjuice.com/helpjuice_production/uploads/upload/image/3854/direct/1563984675060-1563984675060.png
  16. Send the event to Deposit Services. 
  17. Deposit Services closes the account within 1 business day as long as no other transactions present to the account.
  18. Check the account the following business day and ensure it has closed.

Current Balance - Positive

A DDA Settlement ticket is required for clients to close an account if funds are NOT being transferred to another CCB account.

  1. Click Xperience > Silverlake Menu > Retail Demand Deposit Menu > Demand Deposit Transaction Menu > Enter/Update Closing Transactions.
  2. Enter customer number (CIF), name, or account number. 
  3. Click Enter or OK. Note: When closing a business account with Enhanced Account Analysis, multiple messages appear. Contact CMD for directions. 
  4. If the account you are closing is attached to other products (for example: Online Banking accounts, sweeps, AFT’s), the Closing Account Notification screen appears.
  5. Enter/update any amount fields as necessary.
  6. Enter a valid reason code (press F4 for list).
  7. In the Batch Number field, enter your 4-digit associate code.
  8. Enter the disposition of the settlement amount.

    • Account Transfer

      • Enter the account number.
      • In the Deposit to field, enter where the settlement amount is being deposited.
      Delete

    • Cash Out - Money Order/Cashier's Check

      Note: For regulatory purposes, we are not able to produce a cash out when closing an account. If the client wants to cash out, we must issue a Money Order and then the client can obtain cash for the Money Order.


      1. Click Submit. Note: The Create Check field is set to N and is not editable. 
      2. Update the amount fields as necessary. The Net Settlement recalculates based on the amounts entered. 
      3. Select the Post function. 
      4. Complete the DDA Settlement ticket.
      5. In the Cash Amount field, enter the amount of cash the customer will carry out from the bank. 
      6. Click Exit. 

      7. Take the work to the Teller to process using Speed Key F - GL Transaction. 

      Delete


  9. Once all fields are complete, click Post to close the account.
  10. Ask the client to destroy his/her checks and/or debit card.
  11. In Passport, status the debit card to hot.
  12. Click Xperience > Silverlake > Streamline Platform Menu > ATM Card Maintenance.
  13. Enter search criteria, and then press Enter.
  14. Choose the card and then enter option 2 = Change.
  15. Update Card Status to H. 

Current Balance - $0.00

 

Active DDA Account with Zero Balance

  1. Verify any pending/outstanding items.
  2. Inform the client that the account will not close if an outstanding item clears through processing.
  3. Ask the client to destroy his/her checks and/or debit card.
  4. In Passport, status the debit card to hot.
  5. Click Xperience > Silverlake > Streamline Platform Menu > ATM Card Maintenance.
  6. Enter search criteria, and then press Enter.
  7. Choose the card and then enter option 2 = Change.
  8. Update Card Status to H.
  9. If the client has e-statements, do the following:
    1. Encourage the client to download statements for his/her records.
    2. Inform the client that e-statements are deleted after 30 days. 
    3. If this is the last account the client has with the bank, inform the client that he/she will lose access to Online Banking within 30 days.
  10. Open the following Synapsys service event: Service Session > Deposit Services > DS-Close Account Zero Balance.
  11. Complete all required fields.
  12. Be sure to include the close reason.
  13. Send the event to Deposit Services.
  14. Deposit Services closes the account within 1 business day as long as no other transactions present to the account.
  15. Check the account the following business day and ensure it has closed.

DDA Account with Fraud

If closing an account due to fraud, do the following:

  1. Contact TR&FP to have a Full Balance Hold placed on the account.  
  2. Create a Synapsys service event - DS - Closed Account - Fraud.
  3. Complete all applicable fields in Synapsys.
  4. Refer to Stop Payments and Hold Procedures if the account is being closed due to stolen checks or identification.
  5. Place a message on the closed account number if a pending memo posted credit exists and there are outstanding items to pay against the new account number.
    1. List the outstanding check number(s) and approved but not posted transactions in the messages.
      • An outstanding check is a check approved by the client for payment that has not yet cleared the account. An approved but not posted transaction could be an ACH debit to pay a bill or a vendor that will try to post to the account after it's been closed. 
  6. Transfer the closing balance from the closed account to the new account using a debit memo on the closed account and a deposit ticket on the receiving account.

Delete

Payout Options

Official Check

  1. Prepare a money order payable to the names on the account for the closing balance, less the money order fee. 
  2. Prepare a GL debit to DDA Settlement account 310 245100 6302 000 for the amount of the closing balance.
  3. Prepare a GL credit to Miscellaneous Teller Fees XXX 460450 6315 000 for the amount of the money order fee.
  4. Offset the credit copy of the money order with the DDA Settlement Account GL debit and the Miscellaneous Teller Fees GL Credit Memo.
  5. If the client wishes to have cash funds, they can endorse the Money Order and request it be cashed. This may require an override by a supervisor, as the item was issued same day.
Delete

Account Transfer

Transfer funds from the closed account to another account are processed during the Enter/Update Closing Transactions process.

Delete


Delete

Instructional Video

Click play to watch video.

Delete





Was this article helpful?

Related Questions

Can't find what you're looking for?

Our award-winning customer care team is here for you.

Contact Support