Was wondering how your bankers respond to clients who have had their accounts closed due to suspicious activity? I know we are not required to tell them the true reason, but would like to see what explanations are used. Thanks.

The letters we send are neutral and just state we will no longer be offering them banking services as of such and such date.

There are conversations too, usually, either when the letter is sent or if the customer calls to complain. I recommend our bankers stick to 'your activity/account usage is not normal for your type of business, a consumer account, etc. Usually they have already been warned prior to this point.

I would just point them to a copy of your depositor's agreement where you reserve the right to close their account at any time and leave it at that. Some banks include a reiteration of that section of the agreement in the closing letter that is sent. If they cal and ask - tell them to refer to their letter.

We usually state that we are no longer able to service your account. It's interesting because many times those are doing illicit activities know the drill and don't complain.

Thanks for the responses.

Precisely the point. If you've decided to close the account because of activity in the account of one sort or another, the customer has probably been asked or talked to about the activity already. So when your Good-bye letter arrives, they probably know why. Providing reasons in the "It's over" notice only gives them something to push back against. It's not necessary, and it's not advocated.