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#2247338 - 01/07/21 08:26 PM Closing an Account
corporate audit Offline
Junior Member
Joined: May 2008
Posts: 35
Are there any regulations or laws that address when funds must be sent to customer once the customer has requested to have their account closed? (i.e. how many days)

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Operations Compliance
#2247347 - 01/07/21 09:44 PM Re: Closing an Account corporate audit
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,226
Galveston, TX
Why would you delay, unless you thought that some very recent deposit might be coming back or some other fraud is involved.
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#2247478 - 01/11/21 07:18 PM Re: Closing an Account corporate audit
corporate audit Offline
Junior Member
Joined: May 2008
Posts: 35
Due to being a manual process it sometimes takes several days to process the closure. Just want to make sure there is no regulatory requirement that addresses the return of the funds.

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