Cancel Revolut business account
If you want to close your business account with Revolut, it is essential that you know which conditions apply, which steps you need to take, and which documents you should secure in advance. This bank offers a digital closure procedure, but for Revolut business accounts, additional checks may sometimes apply. This article helps you through the process step by step so that you can close the account without surprises.
How do I close my Revolut Business account?
Follow these clear steps to correctly close your Revolut business account. Complete each step carefully so the closure is processed quickly and without issues.
1. Log in to the Revolut Business environment
Then go to the settings and select “Close business account” or a similar option.
2. Make sure all accounts have a balance of exactly €0.00
This also applies to crypto accounts and merchant balances. Keep an eye on pending transactions and process them before continuing.
3. Download all your annual statements and payment details
After your business account is closed, you will lose access to the old environment. Revolut therefore advises completing your downloads in advance.
4. Check that there are no outstanding direct debits
Pay all fees that are still outstanding. According to the terms, cards issued in the past three months must be paid before closure is possible.
5. Submit the closure request
In the settings, select “Close business account”, choose a reason for closure, and submit the request. If the conditions are met, your account is usually closed immediately. In some cases, closure may take a little longer.
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How long does it take for your Revolut business account to be closed?
Revolut states that when all conditions are met, such as a zero balance, no pending transactions, and no active service contracts, your business account can be closed immediately. In some cases, however, it takes longer if additional checks are required.
Because the exact timeframe for business accounts has not been made publicly specific, you can expect several working days or a longer processing time.
Are there any costs associated with closing a business account with Revolut?
The Revolut Business website does not mention a fixed cancellation fee for closing a business account. It does state that all outstanding obligations, cards and services must be settled first. Because the information for business accounts is not fully explicit, it is wise to check your subscriptions, card fees and other obligations in advance.
Closing a business account and the key steps for each bank
Now you have the key points about cancelling a business account with Revolut at a glance. Every bank has its own rules, so by following your bank’s terms and conditions, you can complete the cancellation properly and without delay. Would you like to find out how this works at other banks?
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FAQ
Frequently asked questions about cancelling an ASN Bank business account
What happens to my business payment cards once my Revolut account is closed?
When you close your Revolut Business account, all linked physical and virtual cards are automatically deactivated. They can no longer be used for payments or cash withdrawals. Don’t forget to block any cards used by team members in advance and to provide your team with alternative payment methods.
Will my transaction history remain available after my business account has been closed?
After closing your Revolut Business account, access to your online Business environment will expire. This means you will no longer be able to view your transaction history. Revolut therefore advises downloading all statements, exports and accounting reports before cancelling, so that your records remain complete.
Does my business still need to complete additional verifications before Revolut can close my account?
In some cases, Revolut requests additional business information or verification before the account can be closed. This happens especially when there have been recent changes to business details, team members, UBOs, or compliance information. When verification is required, Revolut indicates this in the app or by email. Without completion, the closure process may be delayed.
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