Completion frequency

The closing frequency is a term used in banking and indicates how often an account is closed, i.e. how often in the year . H. the account balance at a certain point in time is determined by listing and billing the individual items. This procedure is called closing of accounts .

The closing frequency is often specified in the general terms and conditions of the credit institutions or in the conditions for the performance of individual bank services (e.g. within the conditions for opening a bank account) and is usually monthly, quarterly or annually.