Archive a Customer

Archiving a Customer refunds any remaining balance, closes all of their active Synthetic and Custodial Accounts, closes their Debit Cards, and archives connected Secondary Customers if the Customer has any. This process can take several days to finish as the Transfers take place. While Customers are being archived, they will have a status of pending_archival and will be locked. When they are finally archived, their status will become archived. A Customer will remain in 'pending_archival' until their Synthetic and Custodial Account balances are $0.00. If the Customer has a positive balance across any Custodial accounts and a connected external account, Rize will initiate an ACH transfer to zero out the account balance before archiving the Customer. If the Customer does not have an external account or the ACH transfer fails, Rize will mail a paper check to the Customer address on file before archiving the Customer. If the Customer has a negative balance across all Custodial accounts, Rize will not archive the Customer. Negative account balances must be brought up to or greater than $0.00 before the Customer can be archived. An archived Customer’s records will still be available for historical purposes, but they will not be able to open any new Synthetic or Custodial Accounts. The Customer can still apply again as long as can_apply_again is not set to false.