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Send a link to close an account

If the account's legal representative (legal rep) requests account closure, send them a link to complete the process.

Suspended accounts

Only Swan can act on Suspended accounts. If the status is Suspended, you can't send a link to close the account.

  1. Go to your Dashboard > Data > Accounts.
  2. Locate the account closure link in the Close account tile.
  3. Click-to-copy the link.
  4. Send the link to the account's legal rep.
Tracking closure

Keep track of the account closure process on Dashboard > Data > Accounts. Consider subscribing to the Account.Closing and Account.Closed webhooks to be notified when the account status changes.

Step 2: Legal rep completes process​

The account's legal rep opens the link you provide, then logs into their banking app. They choose a reason for account closure, then consent to closing the account with Strong Customer Authentication.

To complete the account closure process, the balance must be zero. The following table explains the actions required to reach a zero balance.

BalanceAction
âž• PositiveTransfer the funds out of the account with a SEPA Credit Transfer.
âž– NegativeSwan works with your end users to reach a zero balance.
Timeline

After consenting to account closure and reaching a zero balance, the account is closed within 30 days.