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When can my bank close my bank account?

Photo of Desiree Reddy (ZA)
By Desiree Reddy (ZA) on March 16, 2022

There has been considerable media attention over the last few weeks on account closures by banks.  Although there are no statutory requirements in this regard (the Banks Act, 1990 for example, is silent on the issue of account closures), it is not the case that a bank has an unfettered discretion regarding account closures. An…

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Norton Rose Fulbright’s financial institutions team provides straightforward legal updates. Our lawyers offer local insights with an international perspective recognised worldwide. This blog focuses on the South African market and is about sharing knowledge with you. Blog posts are not legal advice.

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