When closing an account with a balance of $1 or less, the funds will automatically be transferred to your organization's revenue account (see more at Account Low Balance Closure).
When closing an account with a balance greater than $1, a check will be mailed to the business or individual address on file.
When closing an account with a negative balance, the balance will be considered a loss, and will be covered from your reserve account
In most cases, the final balance check is processed and mailed out a few weeks after account closure.
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The check will be sent to the account address on file unless otherwise requested. In order for the check to be mailed to a different address, use the Contact Us widget on the Dashboard, then select Closed Account Check Reissue to submit an address verification document.
The following is a list of acceptable documents:
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- Utility Bill
- Bank Statement
- Lease Agreement
- Pay Stub
- Insurance Bill/Statement
- Driver’s License (unexpired)
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