How to Properly Close a Debit Card.

Credit and debit cards are quite convenient and versatile. They are also easy to open or close. However, deactivating a credit card or a payment card is not always so easy. Therefore, one needs to take care in advance on how to close a debit card. Moreover, knowing how to close a debit card faster is better for all clients of various banks. As practice shows, a variety of problems may arise later, and it's better to avoid them in advance. 

Clients who keep a lot of money on such a card should learn how to properly close a debit card. After all, it's not enough to just block the card. It needs to be closed competently and quickly without consequences. 

How to Block a Debit Card?

Overall, you should start with how many advantages there are to using a credit or debit card. In the first case, credit money is stored on the card, while a debit card only allows spending what you have 'deposited' on it. 

A debit card is a convenient financial tool, but there are situations when its use becomes unnecessary or unprofitable. To close a card without unpleasant consequences, it's important to consider a number of nuances, such as the conditions and cost of its regular servicing. There are also other important nuances. 

Speaking of incorrect closure, it has its own consequences: 

1. Accumulation of hidden fees. Even after the use of the card is finished, it may remain active and incur maintenance fees.

2. Security risks. An unclosed card can be used by fraudsters, especially if the card data has already been compromised.

3. Legal consequences. If there are remaining funds or debts on the card, this can lead to disputes with the bank.

Therefore, when closing a card, you need to take care of yourself. 

How to Close a Payment Card in a Ukrainian Bank? 

To close a debit card, you need to follow simple and sequential steps. Here's how to do it: 

1. Firstly, check your balance. Before closing, it's important to know how much money is left on the card. You can do this by: using internet banking or a mobile app, checking the balance through an ATM, or visiting a bank branch.

2. If there is money left on the card, it is better to withdraw it right away. Withdraw or transfer the remaining funds to another account so that no money remains on the card. Banks do not always automatically return money, especially if the amount is small.

3. Separately, you need to disable all bindings and subscriptions. Ensure that the card is not used to pay for subscriptions, utilities, or other automatic deductions. This can be done through internet banking or by contacting bank support.

4. Only after this can you write an application for the card closure. To close the card, you need to submit a request. In 2024, most banks in Ukraine allow this to be done: at a bank branch or via a mobile app or internet banking.

Be sure to indicate in your application that you want to completely close the card and the account associated with it.

Before or even during the card closure, ensure that there are no debts on the card. This is a common problem for debit card owners. They often think that if there's no credit, there's no debt either. In reality, if the card is maintained by the bank, it may have various charges, deductions, or fines. Often, the card may have small debts due to servicing fees or minor interests. Request a statement for the card to ensure no debt is present.

If all issues are resolved, then receive confirmation of the card closure. After submitting a request, the bank is obliged to provide you with a document confirming the closure of your card and the associated account. This document should be kept for at least six months.

If the card was closed quickly, clients often have questions about what to do next. After a successful closure of the card:

1. Physically destroy the card. Cut the card with scissors, especially the magnetic stripe and chip.

2. Check the account status. After a few days, ensure that the account is indeed closed and that no new fees are being charged.

Overall, at this stage, one can speak of a successful closure of the debit card. 

What to Do If Problems Arise? 

Not always do even sequential actions allow you to close the card. The bank may refuse to carry out such an action. Then, you need to demand to know the reason, preferably in writing. Most often, this is related to:

1. Presence of debts on the card.

2. Uncanceled subscriptions.

3. Technical failures.

Thus, the bank can point out where to look for the cause of the refusal and how to fix it. 

If the card was lost or blocked, contact the bank's support service for unblocking or submitting a closure request. This is also a very important nuance. 

Speaking of the closure itself, commissions may also be charged for it. Some banks may continue to charge fees if the account was not completely closed. In that case:

1. File a complaint with the bank.

2. Contact the NBU (National Bank of Ukraine) if the bank does not respond.

Based on the country's legislation, you should have your card closed if there are no debts on it. The bank cannot demand money for this without legal justification. 

To speed up this process and reduce the likelihood of mistakes: 

1. Check the contract. The conditions for closing the card are specified in the contract with the bank. Familiarize yourself with them in advance.

2. Close the card at the end of the billing period. This will help avoid unnecessary service fees.

3. Use internet banking. Many banks provide the possibility of closing the card without visiting a branch.

4. Keep all documents. Retain copies of applications and certificates in case of disputes with the bank.

Separately, it should be mentioned under what circumstances one should consider closing an account and a card in the bank. For example, if a client no longer uses the card or has switched one card for another (in a different bank). Also, if they are dissatisfied with the bank's service, they may start thinking about closing the card. If the card was stolen or lost, it needs to be closed urgently.