Account closure

This guide explains how to close accounts and account groups in the Investment API.

How account closures work

Regardless of which level of accounts - account groups or accounts - you wish to close, the process for doing so involves two separate steps.

In the first step, you indicate your intention to close an account group or an account via the Investment API. In the second step, there are a couple of prerequisites for closing an account group or account that are checked by Upvest.

After calling the Investment API to close an account group or an account, the status of the corresponding resource will be CLOSING. As soon as all requirements are met, the account or account group is finally closed in the CLOSED state.

Closing an account

Prerequisites

You can only close an account or an account group that has been already created in the Investment API.

1. Closing an account

To close an account send

DELETE /accounts/{account_id}

The account specified by its ID will be set to a CLOSING status and remains in this status as long as there are open positions or expected corporate actions outstanding. After all the prerequisites are completed, the account status will reflect CLOSED.

To inform you about the final closure of the account, you will receive a webhook with the respective account closed event.

2. Closing an account group

To close an account group send

DELETE /account_groups/{account_group_id}

The account group specified by its ID is set to a CLOSING status and remains in this status as long as there are non-closed accounts associated with the account goup, a fee balance is outstanding or the account group still has an open cash balance. After all the prerequisites are completed, the account group status will reflect CLOSED.

To inform you about the final closure of the account group, you will receive a webhook with the respective account group closed event. Furthermore you will receive an additional webhook that informs you about the creation of a PDF report of the type ACCOUNT_CLOSING.