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Standing order and closed account.
![[Deleted User]](https://us-noi.v-cdn.net/6031891/uploads/defaultavatar/nFA7H6UNOO0N5.jpg)
[Deleted User]
Posts: 0 Newbie
Hello.
I was wondering if you have a standing order for a bank/BS for a saving account that has closed /matured what happens to the money being sent to the account?
Does it just return to the original bank/BS, or does it go into a holding account?
I was wondering if you have a standing order for a bank/BS for a saving account that has closed /matured what happens to the money being sent to the account?
Does it just return to the original bank/BS, or does it go into a holding account?
0
Comments
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It would eventually bounce back or be manually returned, sometimes via a holding account, but this could take some time. It depends on the bank in question and how their systems are set up.
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Depends, some matured accounts morph into different accounts with different conditions/rates but keep the same account number, therefore effectively still open.[Deleted User] said:Hello.
I was wondering if you have a standing order for a bank/BS for a saving account that has closed /matured what happens to the money being sent to the account?
Does it just return to the original bank/BS, or does it go into a holding account?
Others are closed and the funds will basically do as above. Could take anything from a couple of days to a month to bounce back.1 -
Easy to cancel the SO yourself and avoid any potential problems1
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