Bank Account Closing Letter: Whenever a customer wishes to close his bank account, he needs to write to the concerned branch manager and get his application processed for successful account closure. There are many reasons why a customer chooses to close his account with a bank. If a person fails to keep up the bank’s minimum balance for a long time, his account ceases to be operational and sees closure. If a customer maintains a non-active or dormant account for an exceptionally long time, his account may need to be closed. If a customer is unhappy with the changes in banking rules and regulations or wishes to open an account in a new bank, he may close his current account. Some of the important details of the letter include account number, branch code with address, IFSC, and MICR codes, and the customer’s full name with the customer ID.
Bank Account Closing Letter Format and Samples
A letter is a first and foremost record that a customer needs to present to the concerned bank manager to initiate his account’s closure. Along with the letter/application, he needs to surrender his associated documents like Cheque books, passbooks, ATM cards, and any deposit certificates linked to his account. Alternatively, if the customer needs to shift base but intends to retain services with the same bank, he may opt to transfer his bank account. In this case, his current account gets closed, and a new account shall be opened as the customer’s branch requested. Usually, closure formalities need 8 to 10 days of processing. This article explains how to write the bank account closing letter in an appropriate format.
Bank Account Closing Letter Format
The format of the bank account closing application letter should include the below-given details:
- Properly addressing the bank branch manager
- Correct name of the bank with branch details and complete address
- Date of the letter
- Subject line
- Appropriate salutations
- Informative body of the letter
- Thanking with gratitude
- Closure part
- Name and signature
| To, The Bank Manager, Bank Name, Address Date: Subject Line: Dear Sir/Ma’am, The body of the letter should ideally be written in three consistent paragraphs. Thanking You, |
How to Write a Bank Account Closing Letter?
Follow these points to write a bank account closing application letter.
- Be sure of the credit and debit balances in your account. Calculate the remaining balance after all settlements and indicate them correctly and boldly in your letter.
- Some customers resort to amount withdrawal, while others prefer the transfer of their account proceeds. Be smart and choose hassle-free amount transfers if feasible. It saves a lot of time for both bank officials and the customer as well.
- Letter for closure should be written in an application style as you initiate a new action for the bank records. Be polite in your tone and request the action in a professionally suitable manner.
- Be transparent while surrendering your documents. It’s wise and reasonable to efficiently give all your bank-linked documents back to the branch and avoid future confusion.
Sample Letter to Close Bank Account
| To, The Branch Manager, XYZ Bank, No. 44, Marble Enclave, 5th Cross, Market Street, Malleshwaram, Bangalore – 56Date: 29th March 2021-03-20Subject: Application for Closing the Bank Account Dear Sir/Ma’am, My name is Krupa Gupta holding an SB bank account at your bank with account number 123456. I am unable to maintain the minimum monthly balance as per bank norms and hence wish to close the account without any further delay. Kindly stop all transactions related to my bank account on an immediate basis. Together with this letter, I am also surrendering my ATM card, passbook and Cheque book associated with my account. Kindly make provisions to pay the remaining amount in my account to the account details mentioned below. Please process my letter at the earliest and oblige. Account number for crediting proceeds – 2675843 Thanking You, |
Request Letter to Close Bank Account
In the case of relocating to another place, one should use the given below current account closing letter sample.
| To, The Branch Manager, ABC Bank Private Limited, No. 34, 5th Cross, Hosakerehalli New Town, Bangalore – 76Date: 12th March 2021Subject: Application for Account Closure Dear Sir/Ma’am, I am Nidhi Yadav, having an SB account in your bank for the past six years. My account number is 8907654. I have to urgently relocate to Jaipur due to my professional commitments and unable to maintain my account here. On this note, I kindly request you to close down my account without any further delay and oblige. Please stop all my account related transactions on an immediate basis. Kindly transfer the proceeds of my account to the below mentioned account number. I would be grateful to you for closing down my account at such short notice of time. Account number for transferring proceeds: 2345678 Thanking You, |
FAQ’s on Bank Account Closing Letter
1. To whom should we address the bank closure letter?
Answer: Bank closure letters should always be addressed to the branch manager of the particular bank.
2. How much time does the bank take to close the account?
Answer: Banks require a minimum of 8 to 10 days to process account closure requests.
3. How to write a letter to close a bank account?
Answer: A closure application should always contain essential details about the customer, like account number, remaining balance, and paid proceeds. Customers should produce accurate information and avoid errors strictly.
4. What are the necessary documents required to close a bank account?
Answer: Banks request valid ID proof to be submitted along with the bank passbook at the time of account closure.
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