Can they close your bank account if you don't use it?

I have a normal current account with HSBC but I have been accepted for a Santander student bank account which I plan on using as my main bank account for at least the next 3 years while I am at Uni because of the high overdraft.

Will HSBC close my account because there's no money in my account? I only have a few quid in there atm.

Reply 1

Tappouni

8

Original post by ddtown

I have a normal current account with HSBC but I have been accepted for a Santander student bank account which I plan on using as my main bank account for at least the next 3 years while I am at Uni because of the high overdraft.

Will HSBC close my account because there's no money in my account? I only have a few quid in there atm.

If it has a balance of more than £0, I don't think they can close it. They'd at least write to you if it got to the stage of them considering closing it, and if they did, they'd probably just write you a cheque with any remaining balance.

Reply 2

username402722

19

I think there is a policy about dormant accounts, but that is after several years of inactivity. Check with the bank's website.

Reply 3

wannabeaca

15

If you're not using an account, it's best to close it as it may have a negative impact on your credit rating. Agencies see not-in-use bank accounts as an unnecessary risk to your personal details. I'd say to close it and look to reopen it should you wish to bank with HSBC in the future.

Reply 4

Kutie Karen

19

Banks can close accounts but normally they write to you first telling you. Dormant accounts are normally closed after no activity for several years. Why don't you just close it if you don't intend to use it? I don't see the benefit of keeping it open.

Reply 5

Tiger Rag

22

Original post by Tappouni

If it has a balance of more than £0, I don't think they can close it. They'd at least write to you if it got to the stage of them considering closing it, and if they did, they'd probably just write you a cheque with any remaining balance.