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The short answer
To close a Stanbic IBTC account, give the bank a written, signed instruction, which its debit card terms require, at a branch or by email to CustomerCareNigeria@stanbicibtc.com, and arrange where the remaining balance should go. Clear any loan or overdraft first, cancel standing orders and direct debits, and destroy your debit card by cutting through the chip and the card number; the CBN Guide to Charges lists account closure as a service banks may not charge for.
Before you write the letter
- Move the money out or decide where it should go. Transfer most of it yourself first; leave a little to cover any final charges.
- Clear loans and overdrafts. Expect the bank to ask you to settle any outstanding loan linked to the account, such as Stanbic IBTC's EZ Cash, before it closes. See EZ Cash repayment.
- Move your salary and incoming payments. Tell your employer, tenants and clients the new account details.
- Cancel standing orders and direct debits, including subscriptions charged to the card.
- Download statements you will need later for tax, visa or loan applications.
- Check linked products such as an @ease wallet, investments or domiciliary accounts; ask whether they close with the main account.
The closure letter
Stanbic IBTC's debit card terms (clause 6.1) say: "You must advise us in writing if you want to close your account or cancel your card." A short letter is enough. Include:
- Your full name as it appears on the account.
- Account number and account type.
- A clear instruction to close the account.
- Where to send the remaining balance: the account name, number and bank of the destination account, which should be in your own name.
- A request to cancel all cards on the account.
- Your phone number and email.
- Your signature, matching the one on the bank's mandate, and the date.
For a business account, the letter should come from the authorised signatories and may need a board resolution approving closure. Attach a copy of your ID.
Where to submit it
| Route | How | When it suits |
|---|---|---|
| Branch | Hand in the letter with ID; ask for a stamped copy | Best for proof and for business accounts |
| Send a scanned signed letter and ID to CustomerCareNigeria@stanbicibtc.com | If you cannot visit; the bank may call to confirm | |
| Phone first | Call 0700 909 909 909 to ask about outstanding items | Before writing, to avoid a rejected request |
The card
The debit card terms say you must return the card destroyed, by cutting through the chip and the account number and scratching out the numbers on the signature panel. Clause 6.2 warns that if the card is not destroyed properly it may still be used, and you remain responsible for transactions made with it. Cut it before you hand in the letter.
Charges and the final balance
The CBN Guide to Charges (effective 1 January 2020) lists account closure as a charge banks must waive, so you should not pay a fee to close the account. Normal charges that accrued before closure, such as account maintenance on current accounts or SMS alerts, may still be taken from the final balance. If you are moving the balance by transfer, the usual transfer fee and, for ₦10,000 or more, the ₦50 stamp duty paid by the sender since 1 January 2026, as reported by Techeconomy, may apply.
Example: your account holds ₦8,350. You move ₦8,000 to your new bank yourself, below the ₦10,000 stamp duty threshold, leaving ₦350 to cover a final SMS charge and transfer fee. The bank pays out whatever remains when it closes the account.
After closure
- Ask for written confirmation that the account is closed and that you owe nothing.
- Keep that confirmation with your copy of the letter.
- Check for a few weeks that no debit appears from old subscriptions.
- If the bank does not act, follow up with the reference number (our guide to complaining about a bank helps), and if needed escalate; see Stanbic IBTC complaint escalation.
Closing is not the same as leaving an account unused. An unused account eventually becomes dormant and can attract a reactivation process later; see reactivating a dormant Stanbic IBTC account.
Closing from abroad or for someone who has died
If you live outside Nigeria, ask the contact centre whether a scanned signed letter with a copy of your passport is enough, or whether the bank needs the letter notarised or sent through a branch. Give a destination account in your own name; banks are cautious about paying balances to third parties.
When the account holder has died, the account is not closed by a simple letter. The family will normally need to notify the bank, provide the death certificate, and present letters of administration or probate before the balance is released. Ask the branch for its list, as requirements vary by amount and circumstance; a lawyer can advise on the estate itself.
Common mistakes
- Emptying the account to zero before final charges are taken, which can leave a small debit balance.
- Forgetting a direct debit, which then fails and may carry a charge from the merchant.
- Keeping the card in a drawer instead of destroying it.
- Not keeping the closure confirmation.
Where Pryme fits
If you are moving banks, a Pryme account can be opened from anywhere and receives money in naira, dollars, pounds and euros, each with its own account details; see Pryme multicurrency.
Questions people ask
How do I close my Stanbic IBTC account?
Write a signed letter instructing the bank to close the account, give the destination account for the balance, and submit it at a branch or by email to CustomerCareNigeria@stanbicibtc.com.
Can I close a Stanbic account online?
Stanbic IBTC's terms require a written instruction. A scanned signed letter by email may be accepted; the bank may call to confirm.
Does Stanbic charge to close an account?
The CBN Guide to Charges lists account closure as a charge banks must waive. Charges that accrued before closure can still be taken.
What do I do with my Stanbic ATM card when closing?
Destroy it by cutting through the chip and account number and scratching out the signature panel numbers, as the debit card terms require.
Sources
- Stanbic IBTC Debit Card Terms and Conditions (PDF, undated) · accessed Oct 2026
- CBN Guide to Charges by Banks, Other Financial and Non-Bank Financial Institutions (effective 1 January 2020) · accessed Oct 2026
- Techeconomy: Stamp duty replaces EMTL, sender to bear ₦50 charge on bank transfers (1 January 2026) · accessed Oct 2026
- TechCabal: Customer care numbers for banks and fintechs in Nigeria (verified May 2026) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.