Close ING business account
When you want to close your ING business account, it is important that you know exactly which steps you need to take and which conditions the bank applies. Closing a business account with ING requires a careful process in which you must take into account the balance, linked products, and downloading important documents in good time.
In this article, you will read step by step how to fully and correctly close your ING business account so that you do not face unexpected situations.
How do I close my ING business account?
Closing your business account with ING starts with a number of actions you need to complete in advance. ING checks whether all conditions have been met before the account can be closed. By following the step-by-step plan below, you can be sure your cancellation will run smoothly.
1. Check the balance on your account
Your ING business account can only be closed when the balance is positive. ING advises keeping around fifty euros in the account temporarily so that any final charges can be settled before the account is closed.
2. Download your account statements
As soon as your ING business account is closed, access to Mijn ING Zakelijk and the Mobile Banking App will expire. It is therefore necessary to download and safely store all statements and important documents in advance.
3. Check whether all authorised persons must give approval
If multiple authorised persons are linked to your business account, these individuals must confirm that the account may be closed. This prevents the process from being interrupted due to missing permissions.
4. Check whether products are linked to your account
Think of business packages, debit cards, transfer orders, or other services connected to your ING account. These must be amended or cancelled before ING can permanently close the account.
5. Cancel via Mijn ING Zakelijk or the Mobile Banking App
The request can only be submitted when you are logged in to your online banking environment. During cancellation, you indicate which account any remaining balance should be transferred to.
6. Wait for confirmation from ING
After ING has checked that all charges have been paid and all linked products have been terminated, your business account will be closed. You will receive confirmation of this, and the remaining balance will be transferred to the account you specified.
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Cancel an ING business savings account
When you cancel your business ING current account, it is important to also check whether a business savings account is linked to it. A business savings account can only remain open when there is an active current account, which means that in many cases it is necessary to close this as well.
In Mijn ING Zakelijk, you can see which savings accounts are still active and which steps you need to take to close them. During cancellation, you indicate to which account the remaining savings balance should be transferred. ING will only close the savings account once all charges have been paid and the balance has been fully transferred.
How long does it take to close a business ING account?
Completing the closure form via Mijn ING Zakelijk or the app only takes a few minutes. However, the total processing time depends on the number of products linked to your account and whether any charges still need to be paid. ING will only close the account once all outstanding items have been processed and all services have been terminated. You will receive confirmation as soon as the account has been permanently closed and the remaining balance has been transferred.
Are there any charges for closing a business account with ING?
ING does not state any fixed charges for closing a business account on its website. However, the terms and conditions do state that the bank has the right to charge costs for terminating an agreement.
In practice, ING generally does not charge a separate closure fee, but any ongoing charges and subscription contributions are first offset against the remaining balance. Therefore, it is important to maintain a positive balance so that all charges can be paid before the account is definitively closed.
Closing a business account and terms and conditions for other banks
You are now informed about closing a business account with ING. Please note that details differ per provider, so check with the relevant bank for any notice periods, fees, or linked services. Would you like to know how closing a business account works at other banks?
FAQ
Frequently asked questions about closing an ING business account
When will my access to My ING Business be terminated after I have closed the account?
What happens to my business debit card after the account has been closed?
Will closing my business account affect my business credit or other ING services?
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