Closed accounts

  • Updated

When you connect a financial institution, the Accounts tool gathers all of the account data that it can. This may include accounts that have been closed and are hidden within online banking, but are still connected to your online account. This can result in a closed account importing with a zero balance.

It is also possible when a connected account is closed, it gets removed from online banking before the Accounts tool can aggregate the account to update balance and import the final transactions. This timing issue will result in the closed account showing an open balance within the Accounts tool.

Before proceeding, verify that the account has been closed. You may not recognize that paying off an account or bringing the balance to zero is not the same as closing an account.

Identify what outcome you want for the account. If you want to retain the account and its history in the Accounts tool, proceed to Mark an account as closed. If there is no data associated with the account or the you do not want to keep it in the Accounts tool, proceed to Remove a closed account.

Mark an account as closed

  1. Click on the account you want to close to open the account detail window.
  2. Click on the “...” icon in the upper right corner to open the options menu.
  3. Click on the option “Mark as Closed.”

You can also hide the account to exclude it from your financial reports.

Mark a closed account as open

  1. Click on the account you want to close to open the account detail window.
  2. Click on the “...” icon in the upper right corner to open the options menu.
  3. Click on the option “Mark as open.”

The account will be reinstated.

Remove a closed account

If you want to remove the account entirely from the financial tools, submit a ticket to the MX support team.

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