How to Close an Account in a Slovak Bank

Some banks in Slovakia may close foreign clients' accounts at their discretion if they consider the client insufficiently reliable. Other banks prefer to retain clients as long as possible, charging account maintenance fees.

Closing an account in Slovakia is not complicated by law. To do this, you need to personally visit the bank branch where the account was opened and submit the relevant application. A fee for closing the account may only be charged if specified in the terms of the service agreement.

If you want to close an account in Slovakia while abroad, you can send the application by mail. It is important that your signature on the application is notarized or certified at a consulate. Additionally, you can close the account through a representative by granting them a power of attorney. To do this, you need to visit the Slovak Republic consulate and have your signature on the power of attorney or account closure application certified. Then, provide this document to your representative or send the application for account closure directly to the bank by registered mail. A person with such a power of attorney can carry out the account closure procedure by visiting the bank. If you send the application directly to the bank, it will close the account independently.

It is important to remember that by the time the account is closed, there should be no outstanding debts, and the account must hold an amount equivalent to two months of subscription fees (if applicable). The remaining funds in the account will be transferred to another account specified by you and opened in your name.