How to Close a Tangerine Bank Account: Exploring Options

While Tangerine Bank is recognized for their user-friendly banking services, there could be numerous reasons why you might want to close your account. Whether you're looking to simplify your finances, making a shift, or pursuing better alternatives, closing your Tangerine Bank account is a relatively straightforward process. In this comprehensive guide, we delve into the three primary ways you can close your account: via online banking, using the mobile app, and calling customer service.

Option 1: Online Banking

One of the quickest and most convenient methods to close your Tangerine Bank account is through the online banking platform. Here are the steps you need to follow:

• Log in to your Tangerine account through the official website.
• Locate and click on the "Profile & Settings" option.
• Select the "Account Details" section and navigate to the account you wish to close.
• Follow the prompts to close your account.

Keep in mind that you must clear all outstanding liabilities linked with the account before you can fully close it. If there are funds in the account at the time of closure, Tangerine Bank will issue you a cheque for the remaining balance.

Option 2: Mobile App

Tangerine Bank's mobile app offers the same functionalities as their online platform. As such, you can close your account from the convenience of your phone or tablet. The steps include:

• Log into the Tangerine Mobile App using your login credentials.
• Access the main menu and select "My info and options".
• Tap on "Accounts" and select the account you desire to close.
• Follow the instructions to close the account.

Again, remember to clear all outstanding charges or debts linked with the account. If funds remain on closing, Tangerine will send you a cheque for the balance.

Option 3: Call Customer Service

If you prefer speaking to a representative or have questions about the process, Tangerine's customer service is at your service. Here's how you can reach them:

• Dial the customer service line at 1-888-826-4374.
• Furnish the necessary details to verify your identity.
• Request to close your account.

Customer service would guide you through the process, ensuring you understand what closing the account entails. They could also provide additional information on how you can withdraw or transfer the remaining balance if any.

Considerations Before Closing Your Account

Before you proceed with closing your Tangerine Bank account, there are a few things to consider:

• Ensure you have another bank account in place to receive direct deposits.
• Check whether there are any pre-authorized payments that need to be redirected.
• Consider the timing; if the account is due to receive deposits or automatic withdrawals, ensure these transactions are completed before closing the account.
• Retain a record of your closed account for any future references.

In conclusion, closing your bank account is a crucial financial decision. Ensure you've considered all your options and the implications carefully. Whether through online banking, mobile app, or customer service, Tangerine Bank has made the process as seamless as possible.