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Closing Accounts - CSC Correspondence

Clients can contact the Client Services Center to request an account be closed. The request is forwarded to the correspondence team to be added to their workflow.

Procedures

Check the request to ensure the following before proceeding: 

  1. Pull up the account and make sure it is not in a dormant status.
    1. If dormant, make sure the requesting associate provided a Dormant Account Reactivation Request signed by an account owner before proceeding. 
    2. Then follow the Closing Dormant Account procedures found in HelpU.
      • Note: Make sure to use the Closing transaction code (39) on the General Ledger debit ticket.
  2.  If the account balance is $100 or greater, confirm we have received a written request for account closing from an account owner.
  3.  If the account balance is less than $100, no written request is required. A money order is mailed to the address on file.

    Verify Signature Card

    Please look at signature card to verify signature matches written request. If it does not match please reach back out to the associate who sent in the request to obtain a new request. 

     

 

Close the Account in SilverLake

  1. In Xperience > SilverLake > Demand Deposit Menu > Demand Deposit Transaction Menu, click Enter/Update Closing Transactions.
  2. In the Customer Number, Name, or Account field, enter the account number.
  3. Click OK to move on to Closing Account Notification screen.
  4. Click OK.
  5. On the Deposit Closing Transaction - ADD screen, fill in the following information:
    1. Reason Code:
      1. To open the list of reason codes, click the ellipses […].
      2.  Click on the appropriate reason to highlight it.
      3. Click Select.
    2. Batch Number: Enter your 4-digit associate ID.
  6. Click Post.
  7. Do not fill out the dollar amount on the final screen. This is only for use in a retail office when the associate is providing the client with cash.

 

If there are funds in the account that need to be disbursed to the client, print a money order by doing the following:

  1. In Xperience > SilverLake > Go To Vertex > USER CONFIGURED MENU, click Print Check.
  2. Click Money Order.
     
  3. Click Select.
  4. In the new Check Entry window, fill out the following:
    1. Payee Name: Account Owner's name. (Note: This must be typed in ALL CAPS.)
      • If closing a joint account, list all account owners exactly as they appear on the account. Separate the names with OR.
      • If closing a fiduciary account, contact CMD to ensure the check is titled properly.
    2. Comment: CLOSE ACCOUNT
    3. Remitter: CAPITAL CITY BANK
    4. Is Customer: From the drop-down menu, select Yes.
    5. Check Amount: Enter the Account Closing Balance minus the $5 money order fee. (For example: The closing balance is $921.20. You would enter $916.20 in this field.)
      • If you do not already have this number, the Closing Balance is located on the Customer & Account Inquiry > Account Inquiry screen under the Balances section.
    6. Check Fee: This field is prefilled with the $5 fee.
      • If the fee needs to be waived, delete the prefilled amount.
    7. Waive Fee Reason: Leave this blank unless you are waiving the money order fee. If you are waiving the fee, you must enter a reason in this field.
      • For example: CLIENT COURTESY or MANAGER APPORVED
    8. Offset: GL DEBIT
  5. Click Print. 

 

Running Tickets

To complete the account closing process, use the examples below to create General Ledger (GL) tickets.

  1. Complete a GL Debit (white) ticket to the DDA Settlement GL
    • Account Name: DDA Settlement
    • Date: Today's date
    • Description: "To close account # (write in the account #)
    • Offset Entry: Money Order #
    • Entered By: Your name
    • Account Number (bottom row of boxes): 3102451006302000
    • $: Boxes in the bottom right corner of the ticket.
  2. If you are charging the $5 fee, complete an Official Check Fees GL Credit (pink) ticket.
    • Account Name: This should be pre-printed on the ticket. If not, write Official Check Fees.
    • Date: Today's date
    • Description: For purchase of money order # (the money order/check #)
    • Offset Entry: GL Debit
    • Entered By: Your name
    • Account Number: XXX4604506315000 – replace the XXX with the 3 digit office number where the account was originally opened.
      • For Example: On the account shown below the Branch (Office) Number is 2 - Downtown. On the ticket, the first 3 digits would be 002 
  3. Stack the tickets, pink on top, and take them to the mailroom. Remember to log them on the sign in sheet. 

 

Final Steps

  1. Prepare the Closed Account - Mail Check letter.
    1. Open the letter template. 
    2. Replace red text with the corresponding information. Make sure to change the font color from red back to black.
    3. Click File > Save As.
    4. Rename the file using the client's name, and save it to your desktop as a PDF file.
    5. Use CutePDF to merge the digital Capital City Bank letterhead to the letter. 
    6. Print the completed letter.
  2. Place the money order and the prepared letter in the Pending Correspondence folder.
  3. Wait a minimum of 1 business day to ensure the tickets and money order clear with no issues. 
     
 
 

Miscellaneous Information

Some accounts require slightly different steps or additional consideration given to ensure the account is closed correctly. Listed in the accordions below are things to keep in mind when closing accounts.

Closing Fiduciary (Non-UTMA) Accounts

  • When closing fiduciary accounts the account must be closed to the Trust, never the Trustee. 
  • The money order must be made payable to the Trust.
  • Should the Trustee not want the money order made payable to the Trust, the Trust has the following options available:
    • Write a check made out to themselves from the Trust account to bring the account to a $0 balance and wait for it to clear. Once the account is at zero the trustee must contact the CSC to have the DS-Close Account Zero Balance Synapses event submitted.
    • Visit their local office to receive the closing balance in cash.
    • Use Bill Pay to pay themselves from the Trust account to bring the account to a $0 balance and wait for it to clear. Once the account is at zero the trustee must contact the CSC to have the DS-Close Account Zero Balance Synapses event submitted.
 
 

Closing UTMA Accounts

  • The request must come from the the account custodian.
  • The money order must be made payable using the following format: [CUSTODIAN'S NAME] FBO ("for the benefit of") [MINOR'S NAME]
  • The money order will only be accepted for deposit into another beneficiary account.
 
 

Forfeiting Funds When Closing Accounts

  1. In Xperience > Customer & Account Inquiry > Service Fees > Today's Fees > Add, click the Fee Code box to open a drop-down menu.
  2. Scroll down and click E2 - Posting Adjustment - Debit.
  3. In the Remarks box, remove POSTING ADJUSTMENT - DEBIT and replace with CLOSING ACCOUNT/ FORFEITING BALANCE.
  4. Click OK.
  5. In Synapsys submit the DS-Close Account Zero Balance event to close the account.
 
 

Closing a Charged-off Account with a Balance

  • All credits creating a positive balance must be hard posted to the account before we issue a money order. Do not issue a money order while there are pending transactions to the account.
  • Verify the ACH credit belongs to the owner of the account 
 
 

 

 
 

 

 

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