A bank account closure letter is a formal way of requesting to close your bank account permanently and transfer money to other accounts if available. Most banks allow their customer to permanently close their bank account through online net banking or by filling out the bank account closure form as long as the account is in good standing.
Closing an account by sending a letter to the bank manager is the best way to get the job done.
Basically, an account closing letter is written by an account holder to the branch manager. Also, keep in mind that there are some rules you need to follow to write the perfect bank account closure letter.
Here you can find a sample letter bank manager for closing account and transfer funds so that you can edit it according to your requirements.
Why Do You Need to Close Bank Account?
When we open a new bank account, that doesn’t matter whether it’s Savings, Business, or Salary account, it is usually for a lifetime.
But sometimes, situations arise in which you have to close it permanently.
Here you can find the possible reasons why a person may want to close their account:
- The unreliable net banking system, rude staff or don’t trust the service enough.
- A person who has recently shifted to another state or shifted out of the country.
- A person needs to cash all the money from a non-zero balance account.
- Students may want to close it after completing their studies.
Whatever the reason may be, when you decide to close an account, there are certain things that you need to take care of and don’t get hit with any overdraft charges, penalties, or other issues.
1. Open a new account: You need to open a new account first so you don’t miss any payments or deposits.
2. Update automatic & recurring payments: Before you proceed, you need to remove or update automatic and recurring payments such as student loan payments, home loan payments, television streaming services, and more.
3. Transfer funds to a new account: After you update the payments and deposits, you can switch your funds to a new account through online net banking.
What to Include in Bank Account Closure Letter?
There are some important points you must include in your application are:
- Salutation
- Date
- The subject of the application
- Greeting
- Request for the closing of an account
- The reason if you want to add
- Closing remarks
- Signature
Letter to Bank Manager for Closing Account Sample
Riyan Patel
22, Street Park Road,
Ahmedabad, Gujarat
Mobile no: 12345-67890
To,
The Branch Manager
City Indian Bank,
52, Nicholas Street,
Ahmedabad, Gujarat
Date: 10 February 2021
Subject: Application to Close Bank No: 14726353428
Respected Sir/Madam,
I, Mr. Riyan Patel, have a savings account with City Indian Bank whose account number is 14726353428, residing at 52 Nicholas Street, Ahmedabad, Gujarat.
I’m writing this letter because I want to close my account as I’m not in a position to operate the same due to unavoidable circumstances.
All the bank-related documents like ATM card, checkbook, passbook, and credit card (whatever is applicable) are returned herewith. Please feel free to contact me at youremail@gmail.com or call me at 12345-67890.
Thanking you
Yours Faithfully,
Riyan Patel
Video Guide: Application Letter to Bank Manager to Close Account
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Very useful. I am not using a service bank account for long time. And wiil close it todsy.