Close or Reopen an Account

This document outlines the procedures for closing and reopening accounts (suffixes) within the FLEX system.

There are two primary methods to close an account in the FLEX system:

This method is used when a transaction brings the account balance to zero.

Trigger: A transaction that results in a zero balance for the account.
- Exception: This prompt will not appear for a base share account if other active suffixes are linked to it.
Procedure:
1. During the transaction process, a prompt will appear to close the account.
2. Check the “Close the Account?” box.
3. Select an appropriate “Close Reason Code” from the dropdown menu.
  - Note: Close Reason Codes are configured in System Administration > General Configuration within the FLEX Main Menu.
4. If active cards (ATM or Credit Cards) are associated with the account:
  - The system will prompt to check for active cards.
  - Select a “Block Active Cards With” code (e.g., “R- Restricted Code”).
  - Action Required: Instruct the member to see management if active cards exist.
  - Action Required: Deactivate all online access for the account.
5. If clearing a draft over the counter, enter the “Draft Number”.
6. Click “OK” to confirm and close the account.

This method allows for direct closure of a suffix.

Prerequisite: The suffix must have a zero balance before it can be closed using this method.
Procedure:
1. Navigate to the desired suffix within the FLEX system.
2. Right-click on the suffix.
3. From the context menu, select “Close Suffix”.

To reactivate a previously closed account:

Procedure:
1. Locate the closed suffix within the FLEX system.
2. Right-click on the suffix.
3. From the context menu, select “Reopen Suffix”.
Outcome:
- This action will unflag the account as being closed.
- Transactions will be permitted on the account.
- The original open date of the account will be retained.

The following options are also available via right-click or other menus within the FLEX system, as observed in the provided interface: