Closing bank accounts on - line

I think someone needs to look at how difficult closing a bank account is made on Line. I have been trying to get the correct instructions from Sainsbury's bank for a week having explained that i want to close the account fully and not have the interest hanging around in it. However when I follow their instructions they ask for an amount of money which on course becasue of interest I do not know and there is nowhere to say I am loking to fully withdraw from the account and close. Sainsbur's is not the only bank that I have had this problem with. Thought I had fully closed a Nationwide account only to find out latter that I had interest placed into months latter.
«1

Comments

  • refluxer
    refluxer Posts: 2,536
    First Anniversary First Post Photogenic Name Dropper
    Forumite
    edited 10 November 2023 at 10:30AM
    I've had a few different easy access savings accounts with them in the past and didn't have any problems closing them. Have you followed their instructions ?

    Closing your account
    1. Log in to online banking.
    2. Go to 'My Accounts'.
    3. Select ‘Account details' for the savings account you’d like to close.
    4. Select ‘Close my account’ from the menu, and complete the online form.
    IIRC, you just select the account you want to close and choose an account for the funds to be transferred to, so an amount shouldn't come into it - the balance (plus any interest due) should then be transferred and the account closed. If you're trying to close the account but you're being asked for an amount then it sounds like you're in the wrong place, but it was a good few years ago that I closed my last account so it's possible the procedure might have changed, of course.

    If that doesn't work for whatever reason, then I would just give them a ring...

    Alternatively you can call us on 08085 40 50 60, select Option 1 (Savings), then Option 1. We’re here between 8am-8pm Mon-Fri and 8am-6pm Sat and Sun.
  • boingy
    boingy Posts: 1,153
    First Post Name Dropper
    Forumite
    edited 10 November 2023 at 1:48PM
    NatWest have pee'd me off this week along these lines. I want to close the regular saver because it is no longer competitive. It's already empty. I had the "sister" product at RBS (part of the same group). Exactly the same interest rate and T&Cs. Closing the RBS account was one click to do it and a second click to confirm. Closing the NatWest account takes you to a web form that you have to fill in manually. Name, Address, Sort Code, Account Number and other stuff. I'm already logged in to their app/website so why do I have to type all my details again??? 

    Of course I could type those details and close the account or I could be stubborn and just leave the empty account there forever. Hmmm... let me think...  :)



  • I tried repeatedly to close two empty and unused accounts with Barclays, in the end just gave up and hid them.
  • mebu60
    mebu60 Posts: 802
    First Post First Anniversary Name Dropper
    Forumite
    refluxer said:
    I've had a few different easy access savings accounts with them in the past and didn't have any problems closing them. Have you followed their instructions ?

    Closing your account
    1. Log in to online banking.
    2. Go to 'My Accounts'.
    3. Select ‘Account details' for the savings account you’d like to close.
    4. Select ‘Close my account’ from the menu, and complete the online form.
    IIRC, you just select the account you want to close and choose an account for the funds to be transferred to, so an amount shouldn't come into it - the balance (plus any interest due) should then be transferred and the account closed. If you're trying to close the account but you're being asked for an amount then it sounds like you're in the wrong place, but it was a good few years ago that I closed my last account so it's possible the procedure might have changed, of course.

    If that doesn't work for whatever reason, then I would just give them a ring...

    Alternatively you can call us on 08085 40 50 60, select Option 1 (Savings), then Option 1. We’re here between 8am-8pm Mon-Fri and 8am-6pm Sat and Sun.
    Some of us don't have that 'Close my account' option on Sainsbury's for some unknown reason! Was a pain when migrating to a new issue. But as you say, the OP can just give them a call. 
  • Heard on here that the Ulster Bank 5.2% Loyalty Saver that I've shovelled cash into can only be closed by visiting Norn Iron.

    It's easy access so no big deal but, since it pays interest annually, the usual route to getting early dibs on the extra by closing the account is problematic.
  • vixen1500
    vixen1500 Posts: 635
    First Post First Anniversary Combo Breaker
    Forumite
    edited 10 November 2023 at 9:14PM
    Heard on here that the Ulster Bank 5.2% Loyalty Saver that I've shovelled cash into can only be closed by visiting Norn Iron.

    It's easy access so no big deal but, since it pays interest annually, the usual route to getting early dibs on the extra by closing the account is problematic.

    Solo accounts can be closed online

    Joint accounts require you to request in writing 
    Typically confused and asking for advice
  • Received letters from Halifax saving my regular savers are about to mature.  Apparently these will automatically renew and you can only close them in branch.
    I had not planned on continuing with them, just wondering what happens if I nolonger make any payments into the account, will the Halifax then close them?
    Typically confused and asking for advice
  • Qyburn
    Qyburn Posts: 2,076
    First Post First Anniversary Name Dropper
    Forumite
    I've just been going through this with Sainsburys. They bring it on themselves by making you open a new account every time the interest rate changes.

    To close an account they ask you to specify (a) account number to close (even though that was in your original message) (b) reason for closure (c) bank name, account holder name, sort code and account number where the balance should be sent. Then irrespective of what you say at (c), they transfer the balance to your nominated account. 
  • wmb194
    wmb194 Posts: 3,109
    First Post First Anniversary Name Dropper Photogenic
    Forumite
    edited 10 November 2023 at 9:17PM
    vixen1500 said:
    Received letters from Halifax saving my regular savers are about to mature.  Apparently these will automatically renew and you can only close them in branch.
    I had not planned on continuing with them, just wondering what happens if I nolonger make any payments into the account, will the Halifax then close them?
    They'll just sit empty forever... You close them online by 'renewing' them into an easy access account and closing that.
  • molerat
    molerat Posts: 31,548
    Name Dropper Photogenic First Post First Anniversary
    Forumite
    wmb194 said:
    vixen1500 said:
    Received letters from Halifax saving my regular savers are about to mature.  Apparently these will automatically renew and you can only close them in branch.
    I had not planned on continuing with them, just wondering what happens if I nolonger make any payments into the account, will the Halifax then close them?
    They'll just sit empty forever... You close them online by 'renewing' them into an easy access account and closing that.
    Yep, have closed all my old accounts with a mouse click without any problems.

Meet your Ambassadors

Categories

  • All Categories
  • 341.7K Banking & Borrowing
  • 249.7K Reduce Debt & Boost Income
  • 449.1K Spending & Discounts
  • 233.8K Work, Benefits & Business
  • 606K Mortgages, Homes & Bills
  • 172.5K Life & Family
  • 246.7K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards