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Notice requirements for closing an account

How much notice do we have to give the owner of a personal account of our intent to close her account?

If the account is receiving direct deposits of federal benefit payments, you have to provide 30 days’ notice unless fraud is involved. State law may also set a notice period. If federal and state rules aren’t involved, review your deposit contract for any agreement on notice.
Learn more about John Burnett’s webinar DEPOSIT ACCOUNTS: Closings and Changes

First published on 08/25/2019

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