Common use of Closing of Accounts Clause in Contracts

Closing of Accounts. THE BANK may at any time and without the need of a justified cause, close any deposit or credit account of THE CUSTOMER, even if it is subject to termination, terminate any service as well as declare expired any obligation of THE CUSTOMER with THE BANK. In such cases, THE CUSTOMER shall pay to the BANK upon request, any balance in his account and in turn, THE BANK shall pay to the CUSTOMER, by check, any balance in favor of the latter. In the event of closing of deposit accounts, the funds shall remain at the disposal of THE CUSTOMER without generating interest.