Is there a penalty for emptying your bank account?
I'm currently living abroad and I wanted to close my RBS account, but you need to visit the branch or write so I thought I'd just move my money to my other account and close it when I get home. I tried Googling it but nothing came up, so I just did it. Will there be a charge? I have a normal current account, no overdraft (but it's exactly £0.00 so hopefully that won't be a problem). Any idea if I could get a penalty?
- falsi fiableLv 77 years agoFavorite Answer
Many banks assess a service charge when your balance falls below a certain threshold. Take the time to visit a branch and close your account or try closing it by phone. Taking all your money out without closing the account could result in service fees and/or hurt your credit rating.
- Anonymous7 years ago
I have one account which has had exactly £0.00 in it for about six years now. That has not been a problem at all. As long as the account is a free banking one, with no service charges, you should be fine. Just make sure there are no direct debits or outstanding charges which could pop up unexpectedly.
- malenaLv 43 years ago
maximum probably, now not. as soon as you get hold of this debit card, did you opt for in for overdraft safety? if so, the financial organization *may want to* allow you pass forward and use the cardboard, yet you will incur a bad fee (commonly about $35) and that they're going to assume you to hold your account modern-day asap. it is now not that wise to be utilising a debit card as soon as you've not any funds to back up your purchases.