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Leaving Oz: do I really need to close my bank accounts?

Leaving Oz: do I really need to close my bank accounts?

Old Aug 26th 2007, 5:07 am
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Default Leaving Oz: do I really need to close my bank accounts?

I'm leaving Oz in 3 days after being here for 8 months.
Is it really important to close bank accounts? Can/will they do anything if you leave them open and continue to get monthly fees?

Thanks
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Old Aug 26th 2007, 5:20 am
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Default Re: Leaving Oz: do I really need to close my bank accounts?

Originally Posted by kestrel
I'm leaving Oz in 3 days after being here for 8 months.
Is it really important to close bank accounts? Can/will they do anything if you leave them open and continue to get monthly fees?

Thanks
Would it not be easier to just close them anyway Then you wont have to worry about it.
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Old Aug 26th 2007, 5:44 am
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Default Re: Leaving Oz: do I really need to close my bank accounts?

Originally Posted by kestrel
I'm leaving Oz in 3 days after being here for 8 months.
Is it really important to close bank accounts? Can/will they do anything if you leave them open and continue to get monthly fees?

Thanks
As far as i'm aware you can leave them open. My friend went back to UK recently and left her account open.
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Old Aug 26th 2007, 6:32 am
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Default Re: Leaving Oz: do I really need to close my bank accounts?

Originally Posted by kestrel
I'm leaving Oz in 3 days after being here for 8 months.
Is it really important to close bank accounts? Can/will they do anything if you leave them open and continue to get monthly fees?

Thanks
Check the small print and make sure you are aware of all possible fees and charges.
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Old Aug 26th 2007, 7:36 am
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Default Re: Leaving Oz: do I really need to close my bank accounts?

Originally Posted by kestrel
I'm leaving Oz in 3 days after being here for 8 months.
Is it really important to close bank accounts? Can/will they do anything if you leave them open and continue to get monthly fees?

Thanks
I would close them if i were you, I just had a statement from an account that only had a small amount in it, in the last 3 months has cost me $18 for having it will soon be overdrawn because of their charges, I'm closing it tomorrow no doubt they will probably charge me for that also.

John
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Old Aug 26th 2007, 9:02 am
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Default Re: Leaving Oz: do I really need to close my bank accounts?

If you have a use for it and it's worth paying the fees, they probably would be happy to keep it open.

When I left 5 years ago I closed the bank accounts, but I still have my credit card account, although they won't send a new card if you don't have an Australian address.
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Old Aug 26th 2007, 11:08 am
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Default Re: Leaving Oz: do I really need to close my bank accounts?

Originally Posted by kestrel
I'm leaving Oz in 3 days after being here for 8 months.
Is it really important to close bank accounts? Can/will they do anything if you leave them open and continue to get monthly fees?

Thanks
As someone said if you leave an account open, make sure you are aware of the fees and charges. For many accounts, there is a minimum balance before monthly fees are charged, and as I well found out a few years ago, even if the account balance is nil, the fees will still keep coming out. I ended up owing the bank money to close the account (westpac).
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Old Aug 26th 2007, 11:50 pm
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Default Re: Leaving Oz: do I really need to close my bank accounts?

I have two accounts, one is an ANZ account which I only used for 1 month a long time ago. It now has a -$18 balance (all from bank fees and interest on the bank fees), I admit I've been too lazy to get round to closing this one.

I have also have an account with Commonwealth (which has a $0 balance), this I need to keep open once I leave Oz as my taxback for this year is going into it. Which should take 6 weeks to arrive.

Both will continue to charge me. So I'm not sure what to do.
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