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No. An account that is overdrawn means, you owe the bank some money. So, in that case the bank will not allow you to close the account until you settle your dues properly. Once your account is no longer overdrawn you can close it, irrespective of whether you have your ATM card/check or lost it. Banks can always block checks and ATM cards easily, so they wouldn't mind.

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Q: Can you close out account being overdranw and lost checks and ATM card?
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