4.5 Switching and Closing Accounts

Question 1

Switching

Answer 1

• Free Service to diff providers
• Free service switching between accounts with the same provider

Question 2

Closing accounts

Answer 2

Any time
No cost
Must pay any fees + money that they owe

Question 3

Reason to close account

Answer 3

Don’t Need to give one
May be asked for market research

Question 4

Returning things when closing an account

Answer 4

Payment cards
Cheque book

Question 5

Delay in closing account

Answer 5

• If there are automated payments due
• Cheques written on the account that haven’t been presented for payment

Question 6

Provider closing the account

Answer 6

If customer no longer meets minimum deposit criteria
- give 2 month notice