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?

Thank you!

3 Answers

  • 7 years ago
    Favorite 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.

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  • Anonymous
    7 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.

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  • malena
    Lv 4
    3 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.

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