Wallet Closure

There are four methods for closing an account, each tailored to different scenarios described below.

For a user-requested account closure contact your Branch support team to issue the close commands. Fraud or terms of service violation closures are carried out by the Branch risk team. In both cases this will be followed by a WALLET_DEACTIVATED webhook, if a reason code to denote the type of closure was included, for example user_requested.

User Requested Closure

• If the wallet balance is $0, the account is closed immediately.
• If the wallet balance is greater than $0, the closure is pending for eight business days, and then the account is closed.
• During this pending period the user can request to reopen the account.
• To sign up again, the user must wait twenty four hours after the closure, at which point the account is invalidated.
• The WALLET_CLOSED webhook fires upon account invalidation

Confirmed Fraud Closure

• The account is closed immediately.
• If the balance is greater than $0 a check is sent to the user.
• The user cannot sign up again.

Terms of Service Violation Closure

• The account is put into pending closure state for thirty days, regardless of balance.
• The user can transfer funds and access statements.
• The user cannot sign up again.

Inactivity Closure

• Triggered after three years of inactivity.
• The account is put into pending closure state for thirty days, regardless of balance.
• The user can transfer funds and access statements.
• During the pending period the user can request to reopen the account.
• To sign up again, the user must wait twenty four hours after the closure.