If you stop using your bank card and just take it out of sight, then this will be a very wrong decision, which can lead to big problems with the bank.
Why can’t you do this?
The funds used by the owner of the «plastic» are in a special account. And if there is no money there, then these payment details are still valid, even if the card has expired, and employees of a banking organization can easily charge a fee legally. Debt can appear if the client:
1) Withdrew all the funds, and the bank took a commission for servicing the card.
2) Stopped using «plastic» and spending on the card became less than the indicated amount specified in the contract.
3) The grace period has expired.
The banking organization will continue to charge a commission for maintaining such an account. The client can build up an impressive debt over time. Employees of a financial company sometimes notify a person about a debt only after a few years, and he is forced to pay it off according to the law, and taking into account the accrued interest rate.
By the way, a debit card will have much more debt than a credit card. The total debt may include additional paid services that were negotiated at the conclusion of the contract. This can be a payment for SMS notifications and other various services that the bank can impose.
So that the client does not have such difficulties, he needs to do a number of specific actions that will allow him to correctly and correctly close the payment details of the bank card:
1) Reread the agreement with the bank again and disable all paid services on the card, because he stops using it now, and it will take a lot of time to close the account.
2) If there is a debt on «plastic», then it must be paid to the banking organization.
3) After that, you need to submit an application for closing a bank account with a card.
The application can be submitted either via the Internet, or you will have to visit the bank office where you issued the card yourself. It all depends on what is written in the contract. You need to find out in advance about the method of canceling the card. If the «plastic» service period has not yet ended, then it must be given to the financial institution where it was issued, since it is its property. Then you will need to wait for a certain period of time during which the banking organization will check the account for new debts, and if they appear, the client will have to pay them. After that, it remains only to take a certificate from the bank’s employees that they do not have any more claims against their client. This should be done in case some technical error or failure occurs and debt reappears on the account.
If several cards are tied to the payment details of the bank account, then the unnecessary ones should simply be blocked so that intruders do not use them for their own ends.
