Application for Closing Bank Account

Sometimes you have got to close your bank account for various reasons. You need to draft an application for closing bank account properly. Along with it, you need to attach a few important documents as well. This article let us learn how to write an application for closing bank account, the guidelines to be followed and a few sample letters to understand the topic in depth.

To close your bank account, you must write an application letter to the manager of your respective bank branch. Along with the application, you must alsoinclude/attach the documentation required to shut your account, such as a passbook, chequebook, ATM card (debit/credit), identity proof and so on. It is also important to mention the reason for closing your bank account.

A person’s bank account might be closed for a variety of reasons. Some common causes include difficulties maintaining several accounts, inadequate response or service, unnecessarily charged fees, personal or financial troubles, the death of a family member, an untrustworthy online service, or an inability to maintain a minimum balance.

Guidelines to follow before Closing your Bank Account

It is critical to double-check your account balance before closing it.
Check your balance and then write a chequeto withdraw your money.
Before requesting closure, ensure that all of your transactions and bank-related operations have been completed.
Using an ATM cardmay result in less than 500 remaining. Hence, use a cheque whenever emptying the money in your bank account.
Deposit or destroy a blank chequebook and ATM card for security and personal reasons.
Confirm that your account has been closed.

Format for Application for Closing Bank Account

To,

The Branch manager

Bank Name

Bank Address

Date

Subject: Application to Close Bank Account

Salutation

Body of the letter: Mention the reason for closing the bank account, also mention the required bank details such as account number, member ID, passbook, identity proof, etc.

Complimentary Closing

Sender’s Name

Signature

Application for Closing Bank Account Samples

Sample 1 – Letter for Closing Current Account

To,

The Branch Manager

State Bank of India

SV Road Branch

Mumbai

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Sample 2 – Letter for Closing Savings Account

To,

The Branch Manager

Dhana Lakshmi Bank

MG Road Branch

Delhi

18^th April 2022

Subject: Request for Closing Savings Account

Dear Sir/Madam,

My name is Rahul Tripathi and I have a savings bank account with you. XXXXXXXXXXXXXXX is my account number. I haven’t used my account in a long time and don’t need it right now.

As a result, I respectfully recommend that you close this bank account. I’ve attached all of the paperwork needed to close the bank account. If you can complete this in less time, I will be eternally thankful.

Yours truly,

Sample 3 – Letter for Closing Account Due to Excessive Charges

To,

The Branch Manager

UTI Bank

Hyderabad

3^rd July 2022

Subject: Request for Closing my Bank Account

Respected Sir/Madam,

I’m requesting that you close my current account via this application since I’ve seen that unnecessary and excessivecosts are being deducted from it over the past few days. Despite the fact that I have not engaged in any unusual transactions. My account information is as follows:

Account Holder’s Name:

Account No.:

Aadhar Card No.:

Registered Email:

Registered Mobile:

Along with my application, I will be returning my passbook, chequebook, and ATM cards. As a result, please accept my application and begin the process of terminating my account.

Thanking you.

Yours Sincerely,

Kapil Dhuria

Signature

Sample 4 – Letter for Closing Account Due to Personal Reasons

To,

The Branch Manager

Union Bank of India

Noida Branch

Delhi

30^th September 2021

Subject: Request for Closing my Bank Account

Respected Sir/Madam,

My name is Sakshi Malik, and I have a savings account at your branch with account number 1147693627569. Because I am relocating to Mumbai for personal reasons, I would like to liquidate my savings account and take the money. I would appreciate it if you could please terminate my account as soon as possible because I will be travelling next week.

For your convenience, I have enclosed the bank passbook, identity, and address evidence.

Thanking you.

Yours faithfully,

Sakshi Malik

Signature

Frequently Asked Questions

Q1. What documentation is needed to close a bank account?

Answer. All account information, including account holder name, address, account number, associated mobile number, signature, original passbook and original chequebook (if issued). Your Identification Proof (Aadhar Card, Voter ID Card, Electricity Bill, etc.), Address Proof (Aadhar Card, Voter ID Card), and Debit Card / Credit Card are also required (if issued).

Q2. What is the average time it takes to close a bank account?

Answer. It is entirely dependent on your bank. Request that your bank manager performs this activity as soon as feasible. However, it just takes five to 10 days. However, in some government banks, this process can take up to two months.

Q3. Can a bank reinstate a previously closed account?

Answer. Yes, you can reopen a bank account that has been closed. However, whether you can reopen the bank account relies on the bank in specific situations.

FAQs

Application for Closing Bank Account | Format and Samples? ›

“Dear Banker, I'm writing to request the closure of the following accounts at your bank. Please close the account(s) listed below and forward a check for the remaining balance(s) to the address listed below. If you have any questions regarding this request, you can contact me in writing or by phone at XXX-XXX-XXX.”

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How do I write a bank closing letter sample? ›

Dear Sir/Madam, I, [Your Name], have a savings account with the account number [Your Account Number] at your branch. Due to a personal move to another city, I would like to close this account and withdraw the balance amount. I request you to expedite the process as I will be relocating soon.

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How do you write a resolution letter to close a bank account? ›

“RESOLVED THAT the Company's Banking Current Account No___________ with (Name of the Bank with address) , be closed and the amount, if any, lying in the said account be returned to the Company by way of issuance of Bankers' Cheque payable at …………… or transfer to other Current Account in the name of the Company, and the ...

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What is the procedure for closing a bank account? ›

Contact Your Bank

Although financial institutions allow you to do this online, they may require you to make a phone call to customer service or a visit to a local bank branch. Some banks and credit unions may require you to fill out an account closure request form or submit a written request.

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What is a good closing statement for a letter? ›

The preferred letter ending phrases for formal, social, or business correspondence are “Sincerely,” “Sincerely yours,” “Very sincerely,” or “Very sincerely yours.” “Kind(est) regards,” and “Warm(est) regards” fill a nice gap between formal and more intimate closings.

How do you write a proper closing? ›

Depending on the situation, you can use formal ways to conclude a business letter:

Faithfully.
Sincerely.
Best regards.
Thank you.
With appreciation.
With gratitude.
With sincere thanks.
Sincerely yours.

Jul 31, 2023

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What is a bank resolution form? ›

A banking resolution is a vital document that outlines who in a business has the authority to act on its financial matters, such as opening bank accounts or making key transactions.

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How do I close a bank joint account formal letter? ›

Sub: Joint account closure application.

Respected Sir/Madam, We [account holder 1] and [account holder 2] are joint account holders of a/c no. XXXXXXXXX in your bank. our mutual consent to close the account.

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Can a bank deny you closing your account? ›

Most of the time, yes, but your bank or credit union may require you to settle your balance before allowing you to close an account that is overdrawn. If you want to close your account, you should call your bank or credit union or go in person and give them your account information.

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Do you have to give notice to close a bank account? ›

Notice periods for personal bank accounts

If you intend to close a personal bank account, you should usually give your customer reasonable notice so they can make alternative arrangements. For example, on current accounts we'd usually expect you to give them at least two months' notice.

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What are the consequences of closing a bank account? ›

Closing a bank account that's in good standing won't hurt your credit score. If you have a negative bank balance, however, it's important to resolve the balance before closing the account. Otherwise, your credit could suffer as a result.

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What is a bank closure letter? ›

A bank account closure letter is simply a written request to have one or more accounts at a financial institution closed. If you have to submit a bank letter to close an account, you may have the option to mail it in or return it in person at a branch.

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Do I need a reason to close my bank account? ›

Avoid high fees

The biggest reason to close a bank account is to avoid fees. Some banks charge customers regularly through minimum balance requirements or monthly maintenance fees. ATM fees, electronic transfer fees, and other service charges could also motivate you to shop elsewhere.

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