Application for Closing Bank Account: Format and Samples Letter

Closing a bank account may seem like a daunting task, but with the right approach, it can be a straightforward process. In this blog, we’ll explore the essential steps and provide a sample letter template to guide you through writing a formal letter for closing your bank account. Whether you’re switching banks or simplifying your finances, we’ve got you covered with practical tips and a clear, concise letter format to help you navigate the account closure process with ease.

Table of Content

Application for Closing Bank Account

Subject: Request for Account Closure

Dear [Bank Name] Manager,

I, [Your Name], hold a Savings Account with your bank. Due to some personal circumstances, I am unable to maintain the account and would like to close it.

Please find the account passbook enclosed with this letter. I kindly request you to initiate the account closure process at the earliest convenience.

Thank you for your assistance in this matter.

Steps to Write a Letter to Close a Bank Account

Writing a letter to close a bank account is a straightforward process. Here are the steps you can follow:

  1. Address the Letter: Begin by addressing the bank manager or appropriate authority with the correct salutation, such as “Dear [Bank Name] Manager.”
  2. State Your Intent: Clearly state your intention to close your bank account due to personal reasons. Mention the type of account you hold (e.g., savings account) for clarity.
  3. Provide Necessary Details: Include essential account information, such as your account number, to ensure accurate identification of the account to be closed.
  4. Request Action: Politely request the bank to initiate the account closure process. If applicable, mention any accompanying documents, like an enclosed passbook, to facilitate the process.
  5. Express Gratitude: Conclude the letter by thanking the bank for their services and cooperation. Provide your contact information for any further communication or clarification.

Standard Format of an Account Closing Letter

[Your Name] [Your Address] [City, State, Zip Code] [Your Email Address] [Your Phone Number] [Date]

[Bank Name] [Bank Address] [City, State, Zip Code]

Subject: Request for Account Closure

Dear [Bank Name] Manager,

I am writing to formally request the closure of my [Type of Account] account with your institution. The details of my account are as follows:

Account Holder Name: [Your Name] Account Number: [Your Account Number]

I kindly request that you proceed with the necessary steps to close this account and provide confirmation of closure at your earliest convenience.

Please ensure that any remaining balance in the account is transferred to my linked account or issued to me in the form of a cashier’s check.

Thank you for your prompt attention to this matter. Should you require any further information or clarification, please do not hesitate to contact me at the above-mentioned contact details.

Sincerely, [Your Name]

Guidelines to follow before Closing your Bank Account

Before closing your bank account, consider the following guidelines:

  1. Review Account Activity: Check for any pending transactions, outstanding checks, or automatic payments linked to your account. Ensure that all transactions are completed and there are no pending balances.
  2. Update Direct Deposits and Automatic Payments: Notify any companies or institutions that deposit funds directly into your account or make automatic withdrawals. Provide them with your new account information if necessary.
  3. Transfer Funds: Transfer any remaining funds from your current account to your new account or withdraw cash if needed. Ensure that your account balance is sufficient to cover any outstanding checks or payments.
  4. Cancel Automatic Transfers: Cancel any recurring transfers between your accounts to avoid unexpected transactions after closure.
  5. Return Bank Items: Return unused checks, debit cards, and any other bank-related items to the bank.
  6. Check for Fees: Review your bank’s account closure policies and check for any associated fees or penalties for closing your account.
  7. Notify the Bank: Contact your bank to inform them of your intention to close your account. Follow their procedures for account closure, which may include submitting a written request or visiting a branch in person.
  8. Obtain Confirmation: Request written confirmation of the account closure from the bank for your records.
  9. Update Contact Information: Provide your new contact information to the bank to ensure that you receive any final statements or correspondence.
  10. Monitor Account Activity: Continue to monitor your account for any final transactions or fees that may occur after closure. Keep records of the closure process for future reference.

Bank Account Closing Letter Format

Sample 1 – Current Account Closing Letter:

[Your Name] [Your Address] [City, State, Zip Code] [Your Email Address] [Your Phone Number] [Date]

[Bank Name] [Bank Address] [City, State, Zip Code]

Subject: Closure of Current Account (Account Number: [Your Account Number])

Dear [Bank Name] Manager,

I am writing to request the closure of my current account (Account Number: [Your Account Number]) with your bank. Due to personal reasons, I have decided to consolidate my banking activities and close this account.

I kindly request you to initiate the necessary steps to close the account and provide confirmation of closure at your earliest convenience. Please ensure that any remaining balance in the account is transferred to my linked account or issued to me in the form of a cashier’s check.

Thank you for your prompt attention to this matter.

Sincerely, [Your Name]

Sample 2 – Letter to Bank Manager for Closing Account:

[Your Name] [Your Address] [City, State, Zip Code] [Your Email Address] [Your Phone Number] [Date]

[Bank Manager’s Name] [Bank Name] [Bank Address] [City, State, Zip Code]

Subject: Request for Account Closure

Dear [Bank Manager’s Name],

I am writing to formally request the closure of my savings account (Account Number: [Your Account Number]) with your esteemed bank. Due to personal circumstances, I have decided to terminate my banking relationship with your institution.

I kindly request you to initiate the necessary steps to close the account and provide confirmation of closure at your earliest convenience. Please advise me of any outstanding balances or procedures required to complete the closure process.

Thank you for your cooperation in this matter.

Sincerely, [Your Name]

Sample 3 – Request Letter for Bank Account Closure:

[Your Name] [Your Address] [City, State, Zip Code] [Your Email Address] [Your Phone Number] [Date]

[Bank Name] [Bank Address] [City, State, Zip Code]

Subject: Request for Bank Account Closure

I am writing to formally request the closure of my bank account (Account Number: [Your Account Number]) with your esteemed bank. Due to personal reasons, I have decided to discontinue my banking services with your institution.

I kindly request you to initiate the necessary steps to close the account and provide written confirmation of closure at your earliest convenience. Please ensure that any remaining balance in the account is transferred to my linked account or issued to me in the form of a cashier’s check.

Thank you for your prompt attention to this matter.

Sincerely, [Your Name]

FAQs on letter for closing bank account

How do I write a letter to close my bank account?

To write a letter, start with a formal salutation, state your intention clearly, provide your account details, and request closure and confirmation.

How do I close my bank account?

You can close your bank account by visiting the bank in person, submitting a written request, or sometimes through online banking platforms, following the bank’s specific procedures.

What is the right wording for closing a bank account?

The right wording includes a polite request for closure, clear identification of your account, and a request for confirmation of closure, ensuring clarity and formality.

How do I write a letter to terminate an account?

Write a formal letter addressing the bank manager, state your intention to terminate the account, provide necessary account details, and request closure and confirmation.

Sample letter to close current bank account and transfer funds?

“Dear [Bank Manager], I am writing to request the closure of my current account [Account Number] and transfer the remaining funds to [New Account Details]. Please confirm the closure at your earliest convenience.”

How do I write a letter to close my SBI bank account?

Start with a formal salutation, state your intention clearly, provide your SBI account details, and request closure and confirmation in a polite and professional manner.

How to write a bank account closure letter to the customer?

Address the customer formally, state that their account will be closed per their request, provide any necessary instructions or information, and thank them for their patronage in a courteous manner.