Closing Bank Account sometimes gets complex, you gotta deal with many things. I mentioned sometimes and not every time.
If there are no issues with your bank then the bank will allow you to close the bank account. But there are any issues with your bank account then you will have a tough time with your account.
Now might be thinking about what issues.
What are the Issues Your Bank Account Might Have?
Some of the most common issues which your bank account is listed below.
1. Negative Balance in your Account
If you have a negative balance remaining in your AMP Bank account. Then there is no chance that you will be able to close the bank account. The first thing you have to do is pay all the negative balance back to the AMP Bank. Then you can start the process of closing the bank account.
2. You Personally Have to Visit the Branch
AMP Bank requires the account holder to come to the branch of the bank. If you send someone else on behalf of you to close the account. Then the AMP Bank will not acknowledge your bank account closing request. You yourself have to visit the branch of the AMP Bank and submit your bank account closing request. Then the bank will process the request if there are no issues with your account.
3. Your Debit Card and Credit Cards Should Be Submitted
When you go to the bank’s branch to they will ask you to submit all your debit cards and the credit cards to be submitted back. If you lost them then you first have to get your cards blocked.
What is the Process to Close the Bank Account in AMP Bank?
You know what are the possible issues that you might face when you are closing the AMP Bank account. If you are facing any of the above-mentioned issues. Then take necessary steps to counter those issues so that you can easily close your bank account.
Clear the Dues(if any)
First of all, you have to clear the dues if you have any pending in your bank account. As I have already told you if you have any outstanding dues in your account. Then AMP Bank will not entertain your account closing request. To clear the dues make sure you check the real reason why your balance is due in the account. This is necessary to clear the dues effortlessly.
Open a New Bank Account in Another Bank
You have got too many banks working in Australia. Choose any one of those banks and open a new bank account for you. It is highly recommended to open a new bank account before you close the existing account in AMP Bank Limited. This is only for those people who don’t have any other bank account other than the one with AMP Bank Limited. If you want assistance to open a new bank account in Australia, then you can read more about it here.
Transfer Your Funds to New Bank Account
Now let us assume that you have another account or you have opened a new bank account. The next thing you have to do is transfer all your funds remaining in the AMP account to your other account. You have to do is only on the day you are visiting the branch of the bank to close the account and not in advance. If you transfer all the funds to your new bank account and maintain no balance in your AMP Bank account. Then sometimes the bank might charge you an extra penalty for non-maintanece of a certain amount of balance.
Go to the Branch of AMP Bank Limited
You are all set to close your bank account. Now you have to visit the branch of the AMP Bank limited which is near to you. Once you are into the bank find someone who can help you out. (a bank employee) raise your request to close the bank account. They will provide you all the instructions that you have to follow to close the bank account.
Sometimes it may take more than a working day to completely close the bank account you have. It is not like you visited the bank today and your account is completely closed. This process might take time. So you have to move with patience.
