Banks set up a system for managing account closures. In particular, they adopt procedures governing this system, distinguishing between the closing of accounts at the initiative of customers and those at their own initiative.
A Bank Al Maghrib directive sets the terms and conditions under which banks must close the current account opened on their books. The provisions of this directive, dated May 19, come into force within 6 months.
Provisions relating to account closure at the client’s initiative
Any account closure at the initiative of the client must be the subject of a request duly signed by the latter and addressed to the bank. The filing of this request can be made with his agency or via a digital channel or any other channel of his choice. The bank must systematically and immediately issue an acknowledgment of receipt upon receipt of the request to close the account.
The customer must return all the means of payment made available to him by the bank, in particular the bank card as well as the unused check books. The bank informs the client of the outcome of his request to close his account within a maximum period of one month after receipt of his request.
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It makes available to the client, by any means, an account closure certificate, informing him of the effective closure of his account. In the event of non-closure for any reason whatsoever, the bank shall inform the client of the reasons relating thereto. The outcome of the account closure request is sent to the client by any durable medium, or on a physical medium, if the latter so requests.
Provisions relating to account closure at the initiative of the bank
In accordance with the provisions of Article 503 of the Commercial Code, the debit account must be closed at the initiative of the bank, if the customer ceases to operate his account for a period of one year from the date of the last transaction credited to the account.
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In this case, the bank must, before closing the account, notify the customer by registered letter sent to his last address declared to his bank branch. If the client has not expressed his wish to keep his account within 60 days from the date of the notification, the account is deemed to be closed after expiry of this period.
The bank invites the customer to return all the means of payment, attached to the account to be closed, made available to him. If the client has not expressed his wish to keep his account open within 60 days from the date of notification, the account is deemed to be closed, after expiry of this period, without prejudice to the rights of the bank of claim the debit balance recorded on the account.
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The bank must make available to the customer a document detailing the elements of the debt due, in respect of the banking operations carried out on his behalf in principal, interest and ancillary costs, reminding him of his rights to recover this debt, by using all legal means at its disposal.