To open an account requires a few credentials, but to close a bank account needs none. Some banks may charge fees as much as $10 when you do this and some don't. Although closing it is easy, certain steps should be observed in order to avoid any problems.

1. Start With Your Checkbook

Make sure that your checkbook transactions are all cleared and balanced before you close a bank account. Doing this protects you from possible fees that bouncing checks may create.

2. Stop Using Your Account

Refrain from doing any financial activity like direct deposits, withdrawals and money transfers. Do this at least a month before the closing and make sure everything has cleared. If your payroll is direct deposited, inform your employer at least a month in advance of the new account information for deposits.

3. Inform Your Bank

Send a letter or visit your branch personally when you close a bank account. Doing it in person is much better because it is easier for you to ask questions and clarify any concern you have. To give you peace of mind, request the bank to send you a letter confirming that your account is officially closed. Once you receive the letter, keep a copy of it in your files in case any problems arise in the future.