Closing Current Account charges

nessie24

Have just closed our joint Virgin One current account after about 7 years. Received a letter informing us we owed £75 admin costs to close it. No overdraft on this account. Anyone know whether this is justified?

darich

Check the terms and conditions for the account before you start complaining. You'll have a better chance if you know exactly what their terms are before you start complaining about them.

Jake'sGran

I always leave a small amount in any account we don't want to use again i.e. £5 or even less. Seem to remember I have got £1 + with egg and a similar amount with ING. There must be a way of closing an account by transferring the bulk of the balance and then take the rest out with a debit card at a cash point. How would they get the money off you then? When you think of what banks make on the balances we leave in current accounts I think its diabolical that they charge us to close one.

masonic

This is an offset mortgage account, isn't it? Wouldn't closing the account involve remortgaging, which is where the fees would come in?