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Except in cases of account change, the closure of a payment account, namely a current account, must be formalised with the payment service provider where the account is domiciled by the account holder or, in the case of a collective account, by all of the account holders.
Account holders may request the closure of the account at any time, but the payment service provider may require, under the terms of the contract, a notice period for such closure, which may never exceed one month.
They may also request the immediate and unpaid closure of their account if they do not agree to a proposal to change the terms of the contract that the payment service provider presents to them. This request for closure must be submitted before the date proposed by the payment service provider for the application of the changes to the contract.
Payment service providers may not charge any fees to close the account of a holder or holders that are consumers or micro-enterprises.
In the case of the remaining bank customers, such as other companies, payment service providers cannot charge fees to close the account if the account has been opened for more than 6 months. If it is closed before the 6-month period after it was opened, the payment service provider may only charge fees covering the administrative costs incurred.
In order to close a current account:
Holders must hand over to the institution the payment cards and cheques they hold and the bankbook (if any);
The account may not have a negative balance at the time of closing;
Holders must terminate the associated overdraft facility agreements (if any). The institution may set a maximum notice period of one month for the customer to terminate the overdraft facility agreement.
Payment service providers may also close the accounts on their own initiative:
If this is provided in the contract;
By giving the customer at least two months’ notice in paper or other durable medium.