How to Close an Old Bank Account?

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I had a Chase Checking account that was started in Quicken in the year 2000 and zeroed out and closed in 2012. I was never able to close the account in Quicken. I have and Quicken indicates no transactions pending in/for the account, no payment reminders and no other accounts linked to it as far as I can tell.

When I try to close the account, I get the message, "This account has one or more Repeating Online scheduled bills which must be deleted before the account can be closed." I recall that such had to be cleared when I first took it offline and perhaps there is some ghost in the machine buried in the code of yore, but it is long gone now.

Any idea on how to fix this?

n.b. I've also noticed a glitch whereby even though I indicate not to display a multitude of old, closed and hidden accounts in category fields and such, and did not check the box to show hidden accounts, they invariably display in the selection list pulldowns for categories and the like. I'm not sure if these ghosts are related to the bank account one, or perhaps the app is just too long in the tooth to properly update/upgrade after so many decades.

I am using the latest version of Quicken Classic Business & Personal on Windows.

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Answers

  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
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    Personally, I wouldn't try fixing it. "Closing" an account buys you nothing, other than an ugly icon on by your account name and losing the ability to open it up again. It doesn't make it read-only, or something like that. It deactivates online services, removes reminders. zeros balances and select the "Hide in transactions List" (which you can never change). All things that you can do for yourself.

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  • ST.
    ST. Member
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    Thanks Chris. Having had Quicken for so many decades, there are many now unused accounts which are best relegated to truly hidden from transaction lists and such in order to quickly and easily navigate my current accounting system — that is the most important aspect of closing old accounts, for me. I'm happy to maintain their history as I still would like to search them once in a great while. If that function of hiding accounts in the transaction lists worked properly, I'd be happy enough with that outcome.

  • UKR
    UKR SuperUser ✭✭✭✭✭
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    The problem with old, unwanted accounts showing in category selection lists can be somewhat bypassed by changing the Account Name and adding a "zz- " prefix to the name, e.g., "zz- Chase Checking".
    This sorts these accounts to the bottom of the selection lists and makes it less likely for you to pick it by mistake.

    I used to recommend using the "~"(Tilde) character as a prefix for the account name but that will throw a monkey wrench into users wanting to convert from Q Windows to Q Mac. The ~ character does not work in the Mac OS, so "zz- " it is.

  • ST.
    ST. Member
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    Thanks, UKR… pushing it to the end of the list is the best that can be done in this instance.

    Thanks too, Chris… seems hiding the transfers via closed accounts is just not going to work as needed in Quicken.