Old Bank & ISA accounts - should they be closed off?

Rickb

Hi,

By taking advantage of the info on this site and moving money around accounts, I have a couple of account that I didn't explicitly close off - just authorised the ISA movement or some accounts from when I was younger.

Do any of these get auto closed or do you have to request it with the provider?

I get the feeling I should close them off just to prevent potential abuse of them or future charges but are there other reasons like affecting credit ratings? (none are in debt.)

Cheers

Rick

InsideInsurance

ISAs wont ever show on credit ratings as they have no lending capability.

Current accounts will show if they have an overdraft facility but some show even if they dont and so could have an impact (negative or positive)

Generally due to fraud risk, pain in the !!!! to keep all address up to date when you move, becoming eligible for "new customer only" deals etc it is best to close these types of dormant accounts. Ultimately your choice though

Rickb

Thanks for the reply. I'll have to find the time to contact the banks and get them closed off.

Cheers