Close the Account Clause Samples
The 'Close the Account' clause defines the process and conditions under which a financial or service account may be terminated by either party. Typically, this clause outlines the required notice period, any outstanding obligations that must be settled before closure, and the steps for returning funds or property held in the account. Its core practical function is to provide a clear and orderly procedure for ending the account relationship, thereby minimizing disputes and ensuring both parties understand their rights and responsibilities upon closure.
Close the Account. If you re-activate your Account, we will not reimburse you for any fees and we are not liable to you for any interest that would otherwise have accrued on your Account.
Close the Account. The Bank shall have the right to close any of the Customer’s accounts at any time and without any liability, in its absolute discretion, in cases where it appears to the Bank, that the Customer has violated any of the dealing conditions or the Banking customs, and did not take into account in his/her dealing the law and the principle of good faith in dealing or issued commercial papers or Bank drafts or pay orders without charge or conducted facade operations or for any other reasons estimated by the Bank. • The Customer undertakes to provide all the documents required by the Bank during a period of time to be determined by the Bank, and in the absence of providing these documents the Bank shall have the right to close the account. • The Bank shall have the right to close any of the Customer’s accounts in the case of lapse of six months period without making any transactions thereto and the accounts were not having any debit or credit balances, and the Bank’s rejection to accept any deposits or transfers received to the Customer’s account after the closing thereof shall not impose any responsibility on the Bank. • In case that the Bank closes the customer’s account/accounts by itself, upon the Customer’s request, upon expiration of the validity of using any of the cards or means delivered to the Customer, the customer’s desire to stop the service or when the Bank decides to cancel the service, the customer shall be obliged to return any cards, check books or any means delivered to him/her by the bank. It is understood that closing the accounts shall not be subject to serving the customer with notification or the customer’s approval of the balance resulting from the closure.
Close the Account. Without in any case affecting the Customers obligations to SCCB which shall continue in force, subject to statutory requirements.