diff --git a/Towny/src/main/java/com/palmergames/bukkit/towny/TownySettings.java b/Towny/src/main/java/com/palmergames/bukkit/towny/TownySettings.java
index 0cf02623b4..c328cbd10d 100644
--- a/Towny/src/main/java/com/palmergames/bukkit/towny/TownySettings.java
+++ b/Towny/src/main/java/com/palmergames/bukkit/towny/TownySettings.java
@@ -2053,7 +2053,7 @@ public static double getDeathPriceNation() {
 		return getDouble(ConfigNodes.ECO_PRICE_DEATH_NATION);
 	}
 	
-	public static boolean isDeletedObjectBalancePaidToMayor() {
+	public static boolean isDeletedObjectBalancePaidToOwner() {
 		return getBoolean(ConfigNodes.ECO_BANK_IS_DELETED_OBJECT_BALANCE_PAID_TO_OWNER);
 	}
 
diff --git a/Towny/src/main/java/com/palmergames/bukkit/towny/db/TownyDatabaseHandler.java b/Towny/src/main/java/com/palmergames/bukkit/towny/db/TownyDatabaseHandler.java
index 2c36692f16..50f21d139b 100644
--- a/Towny/src/main/java/com/palmergames/bukkit/towny/db/TownyDatabaseHandler.java
+++ b/Towny/src/main/java/com/palmergames/bukkit/towny/db/TownyDatabaseHandler.java
@@ -613,9 +613,9 @@ public void renameTown(Town town, String newName) throws AlreadyRegisteredExcept
 			if (TownyEconomyHandler.isActive())
 				try {
 					townBalance = town.getAccount().getHoldingBalance();
-					town.getAccount().removeAccount();
+					town.getAccount().withdraw(townBalance, "Rename Town - Transfer from old account");
 				} catch (Exception ignored) {
-					TownyMessaging.sendErrorMsg("The bank balance for the town " + oldName + ", could not be received from the economy plugin and will not be able to be converted.");
+					TownyMessaging.sendErrorMsg("The bank balance for the town " + oldName + " could not be received from the economy plugin and will not be able to be converted.");
 				}
 				
 			UUID oldUUID = town.getUUID();
@@ -716,7 +716,7 @@ public void renameNation(Nation nation, String newName) throws AlreadyRegistered
 			if (TownyEconomyHandler.isActive())
 				try {
 					nationBalance = nation.getAccount().getHoldingBalance();
-					nation.getAccount().removeAccount();
+					nation.getAccount().setBalance(0, "Rename Nation - Transfer from old account");
 				} catch (Exception ignored) {
 					TownyMessaging.sendErrorMsg("The bank balance for the nation " + nation.getName() + ", could not be received from the economy plugin and will not be able to be converted.");
 				}
diff --git a/Towny/src/main/java/com/palmergames/bukkit/towny/object/economy/BankAccount.java b/Towny/src/main/java/com/palmergames/bukkit/towny/object/economy/BankAccount.java
index dbf60a66ed..b4e21c66ff 100644
--- a/Towny/src/main/java/com/palmergames/bukkit/towny/object/economy/BankAccount.java
+++ b/Towny/src/main/java/com/palmergames/bukkit/towny/object/economy/BankAccount.java
@@ -135,39 +135,24 @@ private Town getTown() {
 	 */
 	@Override
 	public void removeAccount() {
-		double balance = TownyEconomyHandler.getBalance(getName(), getBukkitWorld());
-		if (balance > 0) {
-			if (TownySettings.isDeletedObjectBalancePaidToMayor() && ableToPayBalanceToOwner()) {
-				payBalanceToOwner(balance);
-			} else if (TownySettings.isEcoClosedEconomyEnabled()) {
-				TownyEconomyHandler.addToServer(balance, getBukkitWorld());
+		if (TownySettings.isDeletedObjectBalancePaidToOwner()) {
+			final Resident owner = getGovernmentOwner();
+			
+			if (owner != null && !owner.isNPC()) {
+				double balance = getHoldingBalance();
+				if (balance > 0) {
+					TownyMessaging.sendMsg(owner, Translatable.of("msg_recieved_refund_for_deleted_object", TownyEconomyHandler.getFormattedBalance(balance)));
+					payTo(balance, owner, "Deleted " + (isTownAccount() ? "Town" : "Nation") + " bank balance refund.");
+				}
 			}
 		}
-		TownyEconomyHandler.removeAccount(getName());
-	}
-
-	/**
-	 * @return true when the Government still has a mayor or leader, and that leader is not an NPC.
-	 */
-	private boolean ableToPayBalanceToOwner() {
-		if (isTownAccount())
-			return getTown().hasMayor() && !getTown().getMayor().isNPC();
-		else
-			return ((Nation) government).hasKing() && !((Nation) government).getKing().isNPC();
-	}
 
-	private void payBalanceToOwner(double balance) {
-		Resident owner = getGovernmentOwner();
-		if (owner.isOnline())
-			TownyMessaging.sendMsg(owner, Translatable.of("msg_recieved_refund_for_deleted_object", TownyEconomyHandler.getFormattedBalance(balance)));
-		payTo(balance, owner, "Deleted Town or Nation bank balance refund.");
+		super.removeAccount();
 	}
 
+	@Nullable
 	private Resident getGovernmentOwner() {
-		if (isTownAccount())
-			return getTown().getMayor();
-		else
-			return ((Nation) government).getKing();
+		return government instanceof Town town ? town.getMayor() : government instanceof Nation nation ? nation.getKing() : null;
 	}
 
 	/*