Why You Should Close Your Old Bank Account?

We open different accounts for availing better account features, cash management, salary credit and customer service. It is very common to have multiple bank accounts. There are chances that we tend to forget about some bank account only to realize that our savings have been deducted due to some charges. When you switch jobs every time a new company opens a new salary account in various banks, though they are zero balance accounts when the salary credit ends the bank will turn it into a savings account. Thus, minimum balance will come into the picture.

It is always better to maintain few accounts considering the best ones, rather than having multiple bank accounts and keeping some idle for years. Here are some of the reasons why you should close idle accounts;

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