- 1). Call Merrill Lynch customer service at 800-637-7455.
- 2). Tell the representative that you need to close your account. The representative will verify your current contact details and ask what you want done with the money in your account. Your options are to transfer to another brokerage or take a cash disbursement. Depending on the type of account you have, such as an IRA, you may have an early withdrawal penalty fee if you get a cash disbursement. The representative will advise you of any fees and let you know that the account closing documents will be sent to you for signature. Typically an account closure fee is assessed on the account. As of April 2011, this fee is $95.
- 3). Sign and return the account closing documents once they arrive at your home. Once Merrill Lynch receives the signed paperwork, the account will be closed. Processing time varies. If you are expecting a disbursement from the account, it will arrive within 10 business days of the account being closed.
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