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Account Closure Checklist 

Includes a checklist of all the tasks that need to be completed upon account closure

 Checking Account Closure Checklist 

Verify all member information is correct and there are no pending transactions before proceeding

 Verify the following have been closed

  1. Mark Debit card as ‘capture’ – ‘closed’, verify in Client Central
  2. Make sure any auto transfers have been expired
  3. Payoff and Close OD Loan
  4. Close Bill Pay (through Admin)
  5. Update Harland Clarke to not allow reordering of checks

 Make sure the members are aware 

  1. They will need to redirect any ACH direct deposits or withdrawals they had coming in/out of the checking account.
    • This includes payroll, auto payments for bills, etc. ACHs will be returned as ‘account closed’

Close the share 

  1. Open a Transaction work area.
  2. Search for the member or account.
  3. In the Transaction Type field, enter CL for Close Share/Loan.
    • In the close options window, click on the share(s) that need to be closed (you can select multiple at one time) 
    • In the Close Reason field, search by hitting the down arrow to find the reason for closure
    • Click 'Add to Ticker' 
  4. Offset the transaction 
  5. Click Post 

 

 Membership Closure Checklist 

Verify all member information is correct and there are no pending transactions before proceeding

Verify the following

  1. All other deposit accounts have been closed or are ready to be closed
  2. All loans have been paid in full and closed
  3. Credit Cards are paid and closed (EFT)
  4. Lockbox is closed, and keys turned in (North Highland, Thomsen Farms, Union City)
  5. In Admin:
    • Unenroll from E-Statements
    • Unenroll from Bill Pay
  6. Close ATM only card (if applicable)
  7. All share transfers are expired

Make sure the members are aware

  1. They will need to redirect any ACH direct deposits or withdrawals they had coming in/out of the checking account.
    1. This includes payroll, auto payments for bills, etc. ACHs will be returned as ‘account closed’

Close the share

  1. Open a Transaction work area.
  2. Search for the member or account.
  3. In the Transaction Type field, enter CL for Close Share/Loan.
    • In the close options window, click on the share(s) that needs to be closed. (You can select multiple at one time.)
    • In the Close Reason field, search by hitting the down arrow to find the reason for closure.
    • Click ‘Add to Ticker'
  4. Offset the Transaction 
  5. Click Post