Banking Act (Chapter 19): Primary legislation governing banking operations and customer relationships in Singapore, including account closure procedures and notice requirements
MAS Notice 626: Monetary Authority of Singapore guidelines on Prevention of Money Laundering and Countering the Financing of Terrorism, including requirements for account closure and final settlements
Personal Data Protection Act 2012: Legislation governing the handling of customer personal data, including requirements for data deletion and retention after account closure
Fair Trading Act (Chapter 52A): Consumer protection legislation ensuring fair dealing requirements during banking relationships and termination
Consumer Protection (Fair Trading) Act: Additional consumer protection framework ensuring fair treatment during service termination processes
Bank-Specific Notice Periods: Individual bank requirements for notification periods before account closure
Balance Settlement Procedures: Requirements for settling any outstanding balances or fees before account closure
Automated Payment Cancellation: Procedures for cancelling standing instructions, GIRO arrangements, and recurring payments
Safe Deposit Box Procedures: Requirements for closing safe deposit box services if applicable to the account relationship
Credit Facility Termination: Procedures for cancelling associated credit cards and credit facilities linked to the account
