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.