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#1975622 - 11/11/14 05:04 PM Closing Accounts - repeat SAR
BFrame Offline
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BFrame
Joined: Nov 2011
Posts: 402
USA
Good morning. Our bank is considering closing a customer's accounts due to ongoing suspicious activity.

This particular customer has a personal account, a new business account, and a safe deposit box with our bank. Do any of you have experience closing out a customer's relationship with your financial institution when the customer has a safe deposit box relationship?

I've seen many examples of sample letters to customers regarding closing their deposit account. Do you have any suggestions on how to ask someone to come in and close their box? We are trying to make this as "confrontation-free" as possible, considering the front line tellers feel somewhat intimidated by this individual.



Thank you in advance for your time.
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#1975623 - 11/11/14 05:12 PM Re: Closing Accounts - repeat SAR BFrame
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,226
Galveston, TX
I would check your safe deposit box contract.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#1975624 - 11/11/14 05:42 PM Re: Closing Accounts - repeat SAR BFrame
BFrame Offline
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BFrame
Joined: Nov 2011
Posts: 402
USA
Our contract indicates that we may terminate the relationship with a 30-day written notice.
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#1975625 - 11/11/14 05:51 PM Re: Closing Accounts - repeat SAR BFrame
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,226
Galveston, TX
Just state within the same letter that you are also terminating their safe deposit contract per paragraph XX of the contract and that they need to empty their box and return the keys by xx/xx/xx or the box will be drilled and if that happens, they will be assessed additional fees. You probably should also state that you will provide them a refund for the current year's rent to give them some additional incentive.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#1975626 - 11/11/14 06:04 PM Re: Closing Accounts - repeat SAR BFrame
BFrame Offline
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BFrame
Joined: Nov 2011
Posts: 402
USA
Thank you. I appreciate your feedback.
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