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Bank Account Closing Letter Template
A Bank Account Closing Letter is a written statement prepared by a bank client and sent to a bank to ask the latter to close their bank account.
Alternate Name:
- Closing Bank Account Letter.
If you want to make sure your funds are safe and move on to a better financial institution than the one in question, first of all, you need to let the bank know about your determination to withdraw the money from your bank account and no longer use their services - this will prevent the bank from charging you with fees and you can save money canceling all automatic payments. You can find a Closing Bank Account Letter template via the link below.
How to Write a Closing Bank Account Letter?
Here is how you should prepare a Bank Account Closing Letter:
- Unless the bank insists on a specific Bank Account Closing Letter format, you are free to inform the financial institution about your wish to close the account the way that is convenient to you . However, a written document that confirms your intentions is preferable to make sure there are no disagreements or disputes in the future especially if you want to close the account because you have been let down by the bank.
- Greet the letter recipient - if you have been in contact with a certain bank representative, you can address the letter to them; otherwise, greet the bank or simply say "To whom it may concern".
- Introduce yourself and notify the bank about your wish to close your bank account . If you are closing several accounts, list their numbers; if you want to keep one of them while the others should be closed, expressly tell the bank about it.
- If you want, you can explain the reasons behind your decision to close the account . For instance, you were left disappointed with the customer service, you have been charged high fees, or another bank has offered you better terms of service and you have decided to trust them with your money.
- In case there are any remaining funds in your bank account, you can ask the bank to transfer them to a different account - indicate the name of another bank and state the number of the account . Alternatively, you may inform the recipient about your decision to withdraw the funds in person.
- Ask the letter recipient to provide you with confirmation that the account was closed . Whether you are requesting an electronic document or its printed equivalent, add your contact details and tell the bank to reach out to you as soon as possible. Sign and date the letter. Depending on the bank, you can submit this document in person or online.
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