No. You cannot close your bank account with a negative balance. You may only close it after bringing your balance to positive and paying the bank penalties. However, your bank can force closure of your account if you fail to satisfy your debt within the time your bank allows you to do so. With that comes an additional ramification: Your bank will most likely also report you to a debit bureau such as ChexSystems, which tracks your deposit account history the way a credit bureau keeps tabs on your credit history.
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