Hi, we use a form similar to this one (https://www.bankersonline.com/sites/default/files/tools/closeaccountform.pdf) when a customer requests that their account be closed because they have opened a new account. We currently ask for check # or payee as well as the debit amount so any items listed can be posted to the new account. The operations business line wants to eliminate the amount to streamline the process.

Is it just a risk decision whether or not we are comfortable removing the amount? Or is there another reason we should be collecting both check #/payee as well as amount?

Thanks.

The more information you have, the less likely that you pay a check that you shouldn't, especially if an account is being closed due to lost, stolen or counterfeit checks. Will the operations business line have check fraud losses coming out of their budget?