CLOSED ACCOUNT AND BANK CLEARANCE

Is it necessary if you want to closed your account or withdraw all your moneys in bank for example Savings and Current to asked for a Bank Clearance?
Is it true that closing an account without asking for a clearance letter from the bank will accumulate penalties or charges in the future? Is this applicable also on personal account?
I heard from a friend that it's the same thing when you plan to close your credit cards to ask for this bank clearance.
I need your opinions and personal experience about this matter. Just for information..

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By anonymous• 15 Sep 2012 13:52

It applies only on credit card

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CLOSED ACCOUNT AND BANK CLEARANCE

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