Hi myself Ava Lewis from London, My bank has informed me that it will close my business account in 30 days. Is this normal, and what should I do before the account is closed?
Hi, I'm Shilpa from the Banking Team at DhanGuard. Receiving a notice like this can be unsettling, but it isn't unheard of. Banks periodically review their customer relationships and, in certain situations, may decide to close an account as part of their internal risk or compliance policies.
A 30-day notice is shorter than the 60-day notice generally expected for consumer accounts under the UAE's consumer protection framework. However, for business banking relationships, the terms and conditions of your account, along with the bank's regulatory obligations, can influence the notice period—particularly where compliance or risk concerns exist.
Some common reasons why banks decide to end a banking relationship include:
- Changes in the bank's internal risk policy or target customer segments.
- Expired or incomplete KYC documents, such as passports, Emirates IDs, or trade licenses.
- Transactions that differ significantly from the business profile declared when the account was opened.
- Internal compliance reviews or risk assessments.
If you've received a closure notice, don't wait until the final week. I recommend taking these steps immediately:
- Transfer your funds to another active bank account as soon as possible.
- Download your account records, including statements from the past 12 to 24 months, while online access is still available.
- Update payment instructions with customers, suppliers, payroll providers, DEWA, and any subscription services that use the existing account.
- Request written confirmation from the bank explaining the closure, if possible, and ask for a No Liability Letter once the account has been settled.
We recently supported a client whose account was scheduled for closure after the bank revised its internal policy on certain business sectors. Because they acted immediately, they were able to open a replacement account, redirect customer payments, complete payroll without disruption, and close the original account with all required documentation in place.
Although a business bank account closure can feel unexpected, acting quickly and planning the transition carefully can help you avoid interruptions to your business operations.
