How to Close UOB Saving Account

Planning to close your UOB Bank saving account? Whatever your reason is  be it changing bank, changing only the account, or planning to take it all down from the lot for offline purposes, you need to follow a certain procedure of how to close UOB saving account.

Generally, people will do it in any nearest branch. So, if you have time to spare, it is great to do this way.

Step by Step Close UOB Saving Account

So, in order to close your account, you will need to do:How to Close UOB Saving Account Online

  1. Go visit the nearest bank branch and get in line to get into customer service booth. Bring along your passbook, ATM/debit/credit card, physical token, unused checks, etc. all items that belong to the bank.
  2. Once your turn has come, tell the officer that you intend to close your account and tell them the reason.
  3. Usually, you will be handed a form: Account Closure Form.
  4. Fill the form according to the required data then hand it back to the officer once you finish writing the form.
  5. Give back the entire bank’s property. If there is some money left at the time you close your account, you can retrieve the money back.

Keep in mind that if you close your account before six months since your account opening, there are some bucks charged to you. According to some source, you will be charged S$30.00 for both GSA and SSA if you close the account within six months after opening it.

After doing the aforementioned procedure, you will no longer be the owner of that account. Your internet banking service will also be deactivated all at once.

Still confused why should you close your saving account? Aside from closing the bank account only to retrieve all of the money saved in an account, there are some considerable reasons why closing your account is good for you.

  1. The charge is ridiculous and it drains your money in it. Many bank users feel this way, and if this affects you as well, probably sending your bank a good bye becomes the best option to choose.
  2. There is no branch located nearby. If you have to travel far just to put on some deposit, you’d be better to save your money somewhere else. That will be worse if the monthly charge is ridiculous.
  3. Bad customer service. The reason is clear for this one. In one recent study, the performance of customer service is important in order to rank the overall bank performance as well. So, if you are facing bad times with the customer service officer (and it is not only one or two times, with different persons), it means the end of your relationship with the bank.
  4. Higher interest rate somewhere. Now what’s more interesting than interesting interest? Who doesn’t love this little addition to our saving? Now that you have the name of bank with better interest, you can snag the chance and put your money there.

You may also like: UOB Fixed Deposit

That’s basic information about how to close UOB saving account. Included as well are several reasons why you should close your saving account. It is crucial to have a solid reason why you should close your saving account. If you already do, then you can go to the nearest bank branch to do it.