To write a bank account closure letter there are various things to keep in mind. To close a bank account a letter is to be written to the bank manager addressing him/her the problems the account holder is facing and requesting them to close the account. This article is a one-stop guide to write a closure letter.
Format of the Bank Account Closure
- Body of Letter
How to Write a Bank Account Closure Letter to Manager?
The Branch Manager
‘Name of the Bank’
‘Address of the Bank’
Subject – Application for Closure of Bank Account
I hold an account no. ‘account number’ with your branch and I am not able to maintain this account due to some reasons. This is a request letter to close my savings account and reject any further transactions request. I am returning my passbook, checkbook, and my cards with the letter.
Therefore, it a request to close my account and return my outstanding balance to the account number mentioned below. It would be highly appreciated if you do the needful as soon as possible.
Bank Account number – ‘account number’
IFSC code – ‘IFSC Code’
Name of the account holder
Things to Keep in Mind Before Closing a Bank Account
Before submitting the bank account closure letter to the bank manager, check all the details twice. The main things to keep in mind are:
- De-Link Cards – Before closing any bank account delink all the cards. De-link all the cards linked to different payment applications. This includes the securities trading accounts, credit cards issued by the bank.
- Check Account Balance– To close a bank account, a closure amount of Rupees 500 is usually paid to the bank. If the account balance is negative the bank will not close the account until the closure amount has been paid along with the application. If there is an outstanding balance left in the account ask the bank to transfer or demand a draft to your address.
- Open New Account– To transfer the outstanding fund make sure to open another bank account.
- Bank Statement Backup – Print out the soft copy of the last 12 months’ transaction. The bank statement allows the customer to see all the transactions and proceed on to the account.