How To Close FNB Business Account In South Africa

Banking & Finance

You wish to close your FNB South Africa Business account but are unsure how to proceed.

You’re in the right place, and I’ll explain how to close a FNB business account with minimal effort.

Whether you want to open a different type of FNB business account or switch to a different bank, you should close your previous business account.

But before closing the account, you must fulfill a few requirements.

Prior to closing a First National Bank business account, you must meet certain conditions.

Many individuals attempt to close their FNB business account despite ongoing payments, while others have a positive or negative balance.

No matter what you do, the bank will not close the account.

The bank considers it active. The process of closing a bank account is straightforward, but there are a few preliminary steps to take.

1. Transactions tied to the account

After submitting a request to FNB to close your business account, the procedure takes approximately one week.

Nonetheless, there may be some delays if a debit order is processed through the account.

It will indicate that the account is in areas, which will delay the account cancellation procedure.

To prevent such an occurrence, it is necessary to cancel all linked debit payments.

It may be a loan; insurance ensures that you must link the payment to another account prior to canceling the account.

2. Cancel all card-linked automatic payments

Before closing your business account, if you have a debit card, cancel it.

The change is intended to prevent unanticipated card charges, such as subscription renewals.

3. Withdraw or transfer your account’s balance

FNB is unable to close a client’s account with a positive or negative balance.

Therefore, you should withdraw the account’s balance or settle its debt.

No matter the amount, even R2.23 cents, the account should be emptied.

Typically, the negative balance occurs after the monthly account fee is deducted.

How To Close Your South African FNB Business Account

If you meet all of the aforementioned conditions, you can close your FNB business account in the following ways:

Email closure of the FNB Business Account

You can request FNB’s assistance in closing your business account by sending an email to premier@fnb.co.za.

Ensure the email contains an explanation of why you wish to close the account.

2. Terminate FNB Business Account Via Telephone

Additionally, you can call the FNB call center to close the business account.

The phone number for the FNB call center is 087-575-9404.

Using the FNB chat function

You can also cancel your FNB business account by visiting the FNB website and clicking the “Chat with us” link.

This is the procedure for closing a FNB South Africa Business Account.

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