Can I close my account at any time?
No. Client-initiated account closure is not permitted. All account closures are administered exclusively by Prominence Bank’s internal Administration and Compliance departments and may only be executed following internal review (including risk, AML/KYC, and security controls) and in accordance with the Bank’s contractual framework.
Prominence Bank operates under the sovereign diplomatic framework of the Ecclesiastical and Temporal Missionary Order (ETMO). The client relationship is governed by the Bank’s Terms & Conditions accepted at onboarding, together with internal compliance and risk policies applicable to accounts maintained under this framework. For transparency, these terms are also published in our public FAQ.
By opening an account with Prominence Bank, the applicant expressly acknowledges and accepts that:
Unilateral account termination by the client is waived under the contractual relationship established with the Bank; and
Account closure is not a customer service option on demand, but a controlled compliance process administered solely by the Bank.
Accordingly, a client may not “close the account” by request, even if the client chooses to stop using the services.
Why does Prominence Bank apply this policy?
This policy exists to protect:
Regulatory and compliance integrity (including AML/KYC obligations, sanctions controls, fraud prevention, and ongoing risk monitoring); and
The client’s onboarding investment and account establishment costs, as onboarding and activation involve substantial administrative, compliance, and verification work and related fees. The Bank does not cancel accounts on request in a manner that would undermine onboarding integrity or create avoidable client loss through forfeited establishment costs.
If I cannot close the account, what options do I have?
If you no longer wish to use the account, you may:
Stop using the account (subject to maintaining the required minimum balance and any applicable account conditions); and/or
Instruct an outbound transfer to a bank account of your choice, provided that:
the instruction passes standard verification and compliance checks; and
the account continues to meet Prominence Bank’s minimum balance requirements at all times (including after the transfer).
An outbound transfer instruction does not constitute account closure and will not be processed as a closure request.
Under what circumstances can the Bank close an account?
Prominence Bank may close or terminate an account only where permitted by internal policy and after internal review, including (without limitation):
confirmed compliance concerns or unresolved due diligence requirements;
security risk, fraud risk, misuse, or legal/regulatory exposure;
breach of contractual terms; or
accounts maintaining a zero or negative balance with no activity for 90 consecutive days, which may be reviewed and closed in line with AML/compliance standards.
Important clarification
Prominence Bank does not close accounts merely because a client requests closure. The account remains governed by the Bank’s internal administration and compliance process. Where a client wishes to disengage, the correct approach is to transfer funds out (subject to minimum balance rules and compliance checks) and then maintain the account in accordance with the applicable conditions.
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