Terminating Your Depot Union Investment Account

Depot Union Investment offers a variety of investment products, but there may come a time when you need to terminate your account. This guide outlines the key considerations and steps involved in cancelling your Depot Union Investment agreement.

Understanding the Process

Terminating a Depot Union Investment account typically involves selling your investments and closing the account. It’s crucial to understand the implications before proceeding.

Key Considerations:

• Market Fluctuations: Selling investments can result in gains or losses depending on current market conditions. Review your portfolio performance and consider potential tax implications.
• Fees and Charges: Check if any fees are associated with selling your investments or closing the account. Early termination fees might apply in certain cases. Refer to your account agreement for details.
• Tax Implications: Selling investments often triggers capital gains taxes. Consult a tax advisor to understand your specific tax situation.
• Alternative Options: Before cancelling, explore alternatives such as transferring your investments to another depot or adjusting your investment strategy within Depot Union Investment.

Steps to Terminate Your Account

1. Review Your Account Agreement: Carefully examine your account agreement for specific terms and conditions related to termination, including notice periods and associated fees.
2. Sell Your Investments: Decide whether you want to sell all your investments at once or gradually. You can usually place sell orders online through your Depot Union Investment account or by contacting customer service.
3. Submit a Termination Request: Once your investments have been sold and the proceeds are available, you need to formally request the termination of your account. This typically involves submitting a written request to Depot Union Investment. Many providers offer a specific form for this purpose on their website or upon request.
4. Provide Necessary Information: Your termination request should include your account number, full name, address, and a clear statement indicating your intention to close the account. You will also need to provide details for receiving the remaining balance, such as your bank account information.
5. Confirm Account Closure: After submitting your request, follow up with Depot Union Investment to confirm that your account has been closed and the remaining balance has been transferred to your designated bank account. Request written confirmation of the account closure for your records.

Contacting Depot Union Investment

For specific instructions and assistance with terminating your account, contact Depot Union Investment directly. Their customer service team can provide personalized guidance based on your individual circumstances.

Important Notes:

• Documentation: Keep copies of all correspondence and documents related to the termination of your account.
• Seek Professional Advice: If you are unsure about the implications of terminating your account, consult with a financial advisor or tax professional.

By carefully considering these factors and following the outlined steps, you can ensure a smooth and efficient termination of your Depot Union Investment account.