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What to do when, Bank is closing branch and moving accounts to New Branch

Jul 24, 2017 at 06:31 PM


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Former Member


A Bank in Spain is closing one of its Branch and moving Bank Accounts to new Branch. In this process it is getting New National Bank Code and also It is getting New Bank Account Number/IBAN number.

Are the below steps, correct?

Should we be closing old Bank Account (Keep it open until all current Bank Statement are allocated)

Create a New MyBank with Bank Directory Entry with New National Bank Code.

Create a New Bank Account under New MyBank.

Any precautions or suggestions in doing Balance Transfer are welcome.

Thanks in Advance.

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