Can the Bank close the Minimum Banking Services Account?

Banks may immediately close the Minimum Banking Services Account if the Customer: has deliberately used the Account for purposes contrary to the law or has provided incorrect information to obtain the Minimum Banking Services Account when he/she did not meet the relevant access requirements.
Banks may close the minimum banking services account, effective 60 days after the closure notice, in the following situations:
• The Minimum Banking Services Account has not been operated (debit or credit) for at least 24 consecutive months;
• The Customer is no longer a legal resident of the European Union;
• The Customer holds another Demand Deposit Account with a credit institution in Portugal, which allows him/her to use the products and services included in the Minimum Banking Services.

In the communication of closure of the Account, made on paper or in another durable medium, the Bank must inform the holder of the Minimum Banking Services Account about:
• The grounds for closure;
• The possible requirement to pay the charges usually associated with the provision of the services made available in the meantime;
• The complaint procedures and the alternative dispute resolution means available to the Customer, providing the necessary contact details.

Except in situations in which the closure occurs because the Customer has not used the Account for at least 24 consecutive months, the Bank may require the Customer to pay the difference between the charges normally associated with the provision of services meanwhile provided to the Customer and the charges for the Minimum Banking Services Account.