Section III: A/OPC Responsibilities

3. How are accounts closed/terminated-what are the recommended exit procedures?

There are four steps to closing or terminating an account, as follows:

1. Immediately notify the bank when a cardholder leaves the agency/organization, is terminated from employment, or no longer requires a Purchase Charge Card.
2. Obtain an account close out form from your bank, complete it and send it to the bank. This process can usually be accomplished through the bank's EAS. Close out the account through the bank's EAS.
3. Retrieve and properly destroy/dispose of the card by cutting it into pieces.
4. Review the master file/cardholder listing to ensure the account is closed.

As the A/OPC you have the discretion to initiate suspension and/or cancellation procedures for any cardholder account. You must document the reason for cancellation and/or suspension.

The bank may also suspend an account when the account becomes delinquent.

The bank is required to notify the A/OPC and the Designated Billing Office (DBO) requesting payment on accounts with undisputed past due (45 days from billing date) charges. The bank shall provide a pre-suspension/cancellation report to the A/OPC to identify the undisputed overdue amounts. After 55 calendar days from the billing date, the bank shall notify the A/OPC and the DBO electronically or in writing of suspension if payment for the principal amount is not received by the close of business on the 5th calendar day after notification.

The bank is required to automatically reinstate suspended accounts upon payment of the undisputed principal amount and Prompt Payment Act Interest.