Closed Account

Very different from a clothed account. So yeah...a closed account can totally be nekked.

You've had it with your spotty cable reception, so you've decided to cut the cord and rely completely on Netflix, Hulu, and YouTube. You've also decided that you can't trust banks anymore (after a documentary you saw on YouTube posted by someone named SurviveTheEnd2049), so you take out all your money and immediately buy a bunch of gold to bury in the backyard.

You're closing your accounts. Basically, you're terminating your association with that business.

There's also a specific connotation of the term related to accounting. If the balance on a particular account is brought to zero, that also closes the account. Like...you bought 200 chinchillas on credit for $30,000 from Chin Chill Ltd. You eventually pay them the full amount, allowing Chin Chill to close the account on you.