If for any reason if you have decided to close your bank account. Then you can do that. But there is a proper way to do it. And that is what we will be discussing in this guide. I will tell you the process that you have to follow to close American Federal Bank account.
The process is really simple. But to make it, even more, simpler you should prepare your account to be closed before you approach the bank. In this process of preparation, you have to take care of 2 things. So let us first make a note of those things. And then we will discuss the process to be followed.
The first thing is you have to check your account balance and make sure there is no negative balance or pending dues in the account. In case if you have any then the bank will not allow you to close the account until you clear those. So check your balance and clear your dues. (if any)
The second thing is you have to move all your automatic payments and direct deposits to your alternative bank account. This is a very important step and if you don’t do this. Then all your payments and deposits will start failing once your account is closed by the bank.
Steps to Close American Federal Bank Account
Follow the instructions given below if you want to close an individual account. But in case if you hold a joint account with the bank. Then you should follow this linked guide to close a joint account.
By following the 9 steps explained above you will be able to close your account with the American Federal Bank. But there is one more important thing you should know. And that is if you are closing the account within 1 year of opening it. Then the bank may ask you to pay the account closing charges.