Close a savings account when it is no longer needed. Closing an account permanently ends its use. The account's transaction history remains accessible after closure.

Prerequisites

• The savings account must be active
• Tha savings account may not be linked to an active loan account
• Any outstanding holds or liens must be released before closing
• Log in to Symba Microbanking with a user account that is authorized to close savings accounts

Steps

• Open the savings account you want to close
• Click the button in the account header
• Select "Close"
• Fill in the closure details:
  • Closed on date: The date the account is being closed
  • Withdraw balance: Enable this to withdraw any remaining balance as part of the closure:
    • Transaction amount: The amount to withdraw (pre-filled with the available balance)
    • Payment type: Select the method for paying out the balance
  • Post interest on closure date: Enable this to calculate and post any accrued interest up to the closure date
  • Note: Optionally add a note explaining the reason for closure
• Click "Confirm"

The account status changes to "Closed". No further deposits or withdrawals can be processed.

Note that if you select Withdraw balance, the withdrawal transaction will not be recorded in Symba Payments, and will not be subject to any Payment Fee Schedule.

Related Topics

• Blocking savings accounts - Temporarily restrict transactions without closing the account
• Activating savings accounts