I closed down some accounts that were no longer being used - savings, cheque and credit cards.
Anyway, I have been sent a cheque for the proceeds of one account that I thought was empty.
The cheque is for the sum of 0.01 (ie ONE PENNY). Would have cost 30 times that in postage costs alone to send that to me!
Do I need to pay this into an alternative account to close the old account for good or can I safely bin it as the account should be closed anyway? Hope this makes sense.
Thanks
If you don't pay it into a new account the old one will still have a 1p balance. I don't know if banks have a policy of writing off small balances such as this and perhaps donating them to charity once a certain sum has been collected.
you can bin it.
Received a statement in another letter which I just found underneath my newspaper! :-
Balance xx/xx/2003 0.00 Interest xx/xx/2003 0.01
Transfer xx/xx/2003 -0.01 Balance xx/xx/2003 0.00
Can I bin it now, then?
Cheers.
Whiting the cheque will have closed the old account. If you don't bank it I would suspect they would simply reverse the cheque to a sundry account.
Writing!
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