By Charlotte GAUCHON
22 March 2025
A bank account is closed sooner or later. By choice, necessity or legal constraint. This breach of contract has legal consequences that customers are often unaware of. From imposed notice periods to questionable charges and accounting liquidation, closing an account follows a regulated process. Causes of closure Any banking relationship can be terminated. The law and case law distinguish between two main categories: voluntary and involuntary closure. Voluntary closure: notice period and conditions Account holders may terminate their accounts at any time. Article L. 312-1-1, III of the French Monetary and Financial Code specifies that private individuals only have to give 30 days' notice. The bank, on the other hand, must give two months' notice and justify its decision in writing. However, the Cour de Cassation (French Supreme Court) recognises that banks have greater contractual freedom when it comes to business accounts. In a ruling handed down on 26 January 2010, it pointed out that a bank...
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