Very elementary ?: How to carefully close bank account

[kwynn]

In my past, I've never actually closed a bank account. I have just stopped using it, started using another account, and eventually then closed the first account like a year later at $0 balance when I have transitioned to a new bank fully.

Long, long story short - I no longer live in the area where my former bank is. It also is a joint account with my late husband. I remember bringing in my late husband's death certificate shortly after he died and they made a note of it somewhere, but advised not closing the account right away because I might be getting his final check, we had no idea what money/bills were coming out of there, etc - they essentially advised me to give it some time, then do it. Since it was a joint account - fine, I kept using it. If I understand correctly, the bank can't just take his name off - I have to close the account and reopen my own completely.

I went through probate and moved a few years ago - continuing to use the account. I recently tried to reorder checks and they said I can't - I have to bring in his death certificate and close my account and reopen a new one or I can mail the death certificate in with a notarized letter and they will close the account - so obviously they noted his passing on the account. I'm frustrated this is coming up now - I get all emotional when his passing is brought up again and again when I'm not expecting it. I can continue using the account but I can't order checks anymore - so I guess it is time... Keep in mind, I DID bring in the death certificate.

I don't want to open an account there - I don't live there anymore. I will be in the area very soon - in ten days. How do I do this - is this enough time to phase out use of an account? I feel a bit overwhelmed. What if I have an outstanding check that I forget about or an autopay? My fear is bouncing a check or getting in trouble with something financially - I have anxiety over this and tried to carefully handle all our accounts after his passing to do everything right - I thought this was all done.

My plan is:

1 - Open a new account in my area in my name

2 - On vacation, go to the bank and give them the death certificate again.

3 - Try to make sure everything is balanced and good before I go and have them close the account.

Or is a better plan to?:

1 - Open a new account in my area in my name

2 - Move everything to new account gradually, don't close account or go to bank on vacation - just let the bank account sit there and do nothing with a little cushion $ in it

3 - Eventually, when I feel confident everything is moved over, mail in the death certificate and close the account, even if it is a year from now

My late husband passed a few years ago and I honestly felt everything was taken care of. I distinctly remember going to the bank and discussing this a few years ago and I felt everything was squared away, so when they stopped me from reordering checks, I was stressed.  I thought it was done - I just worry maybe I will get in trouble for waiting any longer to close this account? I have no idea.

Thanks, ladies, for always guiding me through things.

[VillainV]

First of all, I'm so sorry for your loss.

I lost my first husband about 8 years ago, and my bank had no issues taking his name off our joint account. I think they required a death certificate, but a scanned copy was okay. I kept a digital copy on my computer and it was very easy to email it to whoever needed to see it -- it meant I didn't have to go through the emotional exercise of pulling it out of the file, looking at it, etc. I just attached the file to an email. And dealing with this type of stuff over email was MUCH easier than phone calls because I could do it when I felt okay and if I got emotional in the middle of doing it, I just stopped and came back to it when I felt ready.

In your situation, honestly I'd just close the account and open a new one in your area. The old bank will send you a check or might do a wire transfer to the new account of you have it set up already (for a small fee -- like $20 or so).

Do what it takes to close the old account. Find someone compassionate to your situation and try to email whatever documents they need.

[livinitup]

I closed an account every time I left college for the summer (re-opened every time I went back) .... Closed for good when I graduated ... Closed 4 more during every move.

You just close it. I think they have a system for tracking any new charges against the account after it closes. It's no big deal to close an account at a bank.

[truckentruck]

I think I would probably open a new local bank account, transfer everything over, use it for a few months to ensure everything is set up correctly, and then close the other remotely. I would probably ask why I had to show the death certificate again if I had already taken it in-- that seems insensitive to ask you to do more than once. I would try to minimize the amount of time and energy spent on the old bank, particularly if you intend to bank elsewhere.

[Pom]

We closed FIL's checking/savings,MM accounts that we were using for paying his bills. I stopped using the account about 4 months before I closed it and started using an estate account local to us. Mr. P is the executor, he showed the death certificate and they cut him a check. I think they are being difficult. Since you already provided a D/C, I would offer to email a scanned copy again and tell them you are ready to close that account and open one local to you. Keep escalating until you find someone helpful.

I am sorry for your loss and that they seem to be making this hard on you.

[kwynn]

Aug 15, 2015 10:46:10 GMT -5 Catlawdy said:

If you'd prefer to keep using that account, order new checks from a third party company. When I wrote checks regularly, I never got them from the bank. Or, call and talk to someone else and you may get a different answer.

I tried to order checks from a third party - there's some kind of "no ordering checks" hold on my account.

[kwynn]

Aug 15, 2015 0:16:56 GMT -5 livinitup said:

I closed an account every time I left college for the summer (re-opened every time I went back) .... Closed for good when I graduated ... Closed 4 more during every move.

You just close it. I think they have a system for tracking any new charges against the account after it closes. It's no big deal to close an account at a bank.

Everything I read says they do not have a system at all to track new charges. As a matter of fact, a friend of mine bought a bagel one Thursday morning. The following Tuesday, she closed the account. It was a HUGE ordeal that the bagel charge hasn't hit yet, the bank charged her a ton of fees, said it was actually criminal to close an account with outstanding charges, etc. All over $4.

[livinitup]

Aug 16, 2015 22:04:32 GMT -5 kwynn said:

Aug 15, 2015 0:16:56 GMT -5 livinitup said:

I closed an account every time I left college for the summer (re-opened every time I went back) .... Closed for good when I graduated ... Closed 4 more during every move.

You just close it. I think they have a system for tracking any new charges against the account after it closes. It's no big deal to close an account at a bank.

Everything I read says they do not have a system at all to track new charges. As a matter of fact, a friend of mine bought a bagel one Thursday morning. The following Tuesday, she closed the account. It was a HUGE ordeal that the bagel charge hasn't hit yet, the bank charged her a ton of fees, said it was actually criminal to close an account with outstanding charges, etc. All over $4.

I know I had a savings account at the college bank that stayed open until I graduated. That may have mitigated some of the issues. But closing the account also means that you account for outstanding checks, debit card charges and cancel all auto pays. Not hard. Like, don't buy bagels with your debit card less than 5 days before closing the account?

[kwynn]

Aug 16, 2015 22:17:43 GMT -5 livinitup said:

Aug 16, 2015 22:04:32 GMT -5 kwynn said:

Everything I read says they do not have a system at all to track new charges. As a matter of fact, a friend of mine bought a bagel one Thursday morning. The following Tuesday, she closed the account. It was a HUGE ordeal that the bagel charge hasn't hit yet, the bank charged her a ton of fees, said it was actually criminal to close an account with outstanding charges, etc. All over $4.

I know I had a savings account at the college bank that stayed open until I graduated. That may have mitigated some of the issues. But closing the account also means that you account for outstanding checks, debit card charges and cancel all auto pays. Not hard. Like, don't buy bagels with your debit card less than 5 days before closing the account?

I just don't know how long is a good cushion - I mean, I have people that wait 3 months+ to cash a check from me. I once had a check go uncashed for a YEAR before they finally cashed it. This is why I never close accounts - always worried something will pop up that I forgot about.

[kershnic]

Does closing the account now cause you more anxiety or keeping open the account and needing to deal with the death certificate sometime in the future cause more anxiety? It sounds like the possibility of outstanding charges is really bothering you, so in that case I'd probably do your second suggestion. Open new account, transfer everything over, and wait 6-12 months of inactivity on the old account before closing remotely.

[drloretta]

I would first make sure all of your charges/autopays are coming out of your current account, not this one. Then I would just show up at the bank when you're in town and close the account.

I would also do this through the bank manager, and note that you were given a hard time about this when it's obviously difficult/emotional for you.

[mpc]

It sounds like this is stressing you out, so I would go with your second option in your OP. open a new account in your new area, switch things over except for a little cushion, and then leave that cushion there for however long it takes you to feel comfortable. It sounds like that will ease your mind the most.