You can use this process to close an account. Closing an account revokes the business connection
for the account between the customer and your bank. This process involves a series of tasks such as clearing the remaining account balance, account balancing, and finally setting the account status enhancement to
Closed
.
You can either close a single account by using the
Single Account Closure
report or several accounts by using the
Mass Account Closure
report. For more information about these reports, see the system documentation.
You have enabled the
Account closure
feature for the product on which the account is based.
In Customizing for
Bank Customer Accounts
(BCA), you have defined the following:
The behavior for some account objects by choosing
Master Data
→
Account
→
Account Closure
→
Define Behavior of Dependent Objects
The balancing date for account closure by choosing
Master Data
→
Account
→
Account Closure
→
Define Balancing Date for Account Closure
The message type (whether error, warning, or information) by choosing
Tools
→
Change Message Control.
Account Closure Master Data Maintenance
You define the account closure reason and reference account for closure on the account master record. If you want to use a mass run, you must also define the planned closure date.
To collect the debit balance on account closure for accounts that use an external reference account for closure, you can define a special suspense account. Define this suspense account in Customizing for
Bank Customer Accounts
(BCA) by choosing
Account Management
→
Maintain CpD-Accounts for Special Purposes.
Release Procedure
When you enter or changethe master data for account closure:
If you have not set up the release principle, the system changes the account status enhancement directly to
Closure - Planned
.
If you have set up the release principle, depending on criteria defined for the release procedure, the system flags the account for release by changing the account status enhancement to
Closure – In Release Process
.
Subsequently, another user with the appropriate authorization releases the account closure process, which then changes the account status enhancement to
Closure - Planned
.
If the user rejects the closure process, the system changes the account status enhancement to
Active
and clears the planned closure date, closure reason, and closure reference account.
You can define a release workflow to manage the account closure process in Customizing for
Bank Customer Accounts
(BCA) by choosing
Master Data
→
Account
→
Account Closure
→
Release
. For more information, see
Release Object ACCNT_CLOS
.
Function Execution
You execute the single closure or mass closure functions.
Account Closure Checks
The system performs several checks before actually closing the account. These include, for example, checks for the existence of standing orders and direct debit orders.
For more information, see Account Closure Checks .
Account Balancing
The system balances the account based on the balancing date defined for account closure in Customizing for BCA. If you defined a charge condition for account closure, the system also computes the closure charge and posts it to the account.
If the account is part of an interest compensation hierarchy, the system balances all accounts in the hierarchy and adds the accrued interest on the account to the account balance. For more information, see Interest Compensation .
The system also uses the balancing date to determine the transfer posting date and any accrued settlement postings.
Payment Order Creation
To transfer the final account balance to the reference account, the system creates a payment order with the following details:
Posting date as the current transaction posting date
Value date as the planned closure date, or the balancing date based on the balancing date defined for account closure in the Customizing activity
Define Balancing Date for Account Closure
.
If the account has the
Amount Notices
feature enabled, the system:
Determines if interest penalty is applicable
Computes the interest penalty
For more information, see Interest Penalty Calculation .
Posts the interest penalty immediately even if you define the
IP Posting
type as
Debit at Balancing
.
You can use the Business Add-In (BAdI)
Payment Notes Creation Based on Transaction Types
to transfer the payment notes specified for reference accounts to the payment order.
Bank Statement Generation
The system prepares the bank statement data and supplies it to the bank statement interface.
Business Partner Validity Update
The system updates the date up to which a business partner is valid with the account closure date for the following business partner roles:
Account Holder
Authorized Drawer
Correspondence Recipient
The system updates the date up to which a business partner is valid:
Only if the business partner is not used on any other account in the particular role
For the roles that are actually associated to the account
Correspondence
If you have made the required correspondence settings, the system generates account closure correspondence that notifies customers about the account closure.
For more information, see Correspondence .
When the account closure process is successfully completed, the system performs the following activities:
Sets the account status to
Inactive
with the status enhancement as
Closed.
If the account closure process fails at any stage, the system sets the account status enhancement to
Closure – Postprocessing
and the account status to
Active.
Updates the actual account closure date
Writes change documents to record all the changes, including those made to the limits. The system uses the change document as the basis for limit reactivation.
You cannot edit a closed account.