There are simply too many reasons to close a bank account. And everyone has their own to do it. No matter what made you decide. In this guide, I will help you out with the process that you have to follow to close 1st Source Bank account.
The process is really simple and I usually don’t recommend closing the account online. So I have explained an offline method in this guide. The method I am talking about and have explained below. It works for almost all the banks that are operating in the United States.
Before you reach your bank and ask it to close your account. You will have to prepare your account to be closed. There are two things that you have to take care of. So let me first explain to you those things. And then I will explain to you the process to be followed.
The first thing is you will have to make sure that your account does not have any negative balance or pending dues. In case if you have any then you will have to clear those. This is important because the 1st Source Bank will not allow you to close the account until you clear those.
The second thing is also very important and it is about the payments you are making and the deposits you are receiving. You will have to move all your automatic payments and the direct deposits to your alternative bank account. This will help you to make sure that all your payments are running without any issues.
Steps to Close 1st Source Bank Account
In case if you have an individual account with the bank. Then you can follow the instructions given below. But in case if you hold a joint account. Then you should read this linked guide to learn the process of closing a joint account. The steps are a little different than what is explained below.
If you want more help then you can directly contact the bank. You should also keep in mind that in case if you are closing the account too early after opening it. I mean within a year of time. Then the bank may ask you to pay the account closing charges.