Sample Letter to Close Bank Account


Are you planning to close your salary or savings bank account? Do you want help in writing an application letter to close bank account? Do not be worried about it and go through the details given in this article to get started with writing the application.

Introduction

If someone tells you to write a letter to somebody, I am sure you will opt out of that procedure. Today, emails and WhatsApp messages have become so popular that people have become less interested in the letter writing format. But, letter writing has a personal touch to itself that may not be available in the WhatApp or other electronic formats. When you write and post a letter to a person, it is no less than sending a miniature format of your personality through the letter.
In fact, the government of every country promotes the art of letter writing. Due to this reason, you will see that a lot of government organisations accepting only letters for various purposes. But, as mentioned earlier, today people are more accustomed to emails and messages. So, they have forgotten the procedure to write formal or business-related letters. In this section, I will provide you with an example of a letter to close a bank account.

What is the purpose of closing a bank account?

Well, there could be various reasons for closing a bank account.
  • Sometimes people keep moving due to various job preferences. When you change your job, then along with the change in your salary, the format of receiving your salary changes. Sometimes the bank that you were receiving your salary from changes. In that case, you need to close your previous salary or savings bank account, and open a new one in a new bank as applicable to your job.
  • Sometimes some banks have the strict restriction of maintaining a minimum balance to keep the account open. But it might happen that due to the freelancing nature of your job, it is not possible for you to maintain the minimum balance every month. Hence, you might come to the decision of closing your savings bank account.
  • Not all banks provide the same facilities for its customers. Different banks have different target customers and hence different necessities of those customers. It is not necessary that the bank you are associated today keeps you happy in all aspects. You might be unhappy with the rate of interests provided by the bank, or the fixed deposit schemes of the bank or any other feature that is either present or absent in that bank. The result is that you decide to close your bank account.


Sample Letter to Close Bank Account

Here comes the main section where I would write a sample letter which will be addressed to either the bank manager or the respective higher bank personnel to close your salary or savings bank account. Before writing a letter to close bank account you should check with a bank accountant first as to whom should you address this letter to. Almost every time, it needs to be the bank manager. But some banks may ask you to address the letter to any bank officer of lower or higher rank. You just need to change the designation and address of the bank when you actually write or type this letter. You also need to add the type of the account that you are trying to close. For example, I have just given the word bank account here. You need to just place the type of account it would be, say, salary or savings etc.

To
The Manager,
Indian Bank,
State Branch,
{Street Number, Name of the Street, Locality, Pincode} {Date: Give the date on which you wrote this letter}

Subject: Application to close my bank account

Sir,

I hold a bank account(mention the type of account) in the branch(mention the branch name of your bank account) with your bank since the date(mention the date on which you opened this account). I am writing this letter to request you to kindly close my account (mention the account number) with your bank, which is under the name(give your name as given in the passbook of your bank account).
**In this section you may cite a reason due to which you wish to close this account. The reasons could be any or all of the following.**
  1. I want to dissolve my account because it has remained inoperative for over a month/year(mention the time period as applicable in your case) now. I am a freelancer(mention the applicable reason for which you are able to provide the minimum balance every year here) due to the shortage of the minimal amount needed to keep the account active.
  2. OR
  3. Recently, I have changed my job, which requires me to open a separate salary or savings account in a separate bank. I am currently not in a position to hold two savings accounts simultaneously. As a result, I am left with no other option that is to close my savings/salary account in your bank, which is in the branch(mention the account number).


**The final section of the letter where you mention what are attaching with your application and what is to be done with your balance amount present currently in your account**
I have enclosed my pass book and cheque book,(mention any other items that you are returning along with this application letter. For example, if you had earlier applied for a debit card of that bank, then that debit card should also be returned to the bank. Mention about this attachment to in this application letter). If the bank asks you to give a photocopy of your pan card, then you need to enclose that too, along with your application. My account of the account number(mention your account number here) currently contains this(mention your current balance) as the balance amount. Kindly issue me that amount either by cash or a demand draft as applicable and oblige.

Thanking you,
Yours Sincerely,

{Place your signature here}
{Your Name}
{Give your full contact details here including:
Your Address exactly as mentioned in your photo identity proof or your passbook.
Your phone number
Your email id}

Conclusion

Writing an application which is to be addressed to the bank is not that tough. I hope you know that by now when you have read the entire article. The important thing is to exactly address the situation as to why you will not continue with your account anymore and to return each of your belongings that the bank provided you when you opened that account. After you produce a letter to close bank account the bank will notify you via email or your phone number that your application is in the process. They will tell you the exact number of working days within which your account will be closed. Lastly, don't forget to ask them verbally that until what time will you be able to get back. your balance amount.

More Sample Letter


  1. Sample letter to bank for merging loan accounts

  2. Sample letter to open new SB account

  3. Sample letter to bank to open NRE account

  4. Sample letter to bank for new ATM card


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Comments

Author: Test1205 Jan 2017 Member Level: Silver   Points : 1

This is a great article for people like me who are not aware of such letters and forms when it comes related to the banks. And the sample letter does help as a reference if in case we are stuck. Nice information.



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