Bank account closing letter 2022 (guide + Free samples)

This post covers the bank account closing letter.

A letter to close a bank account is the primary document required to close a bank account.

Look!

It may seem so old-fashioned, but trust me it works like a charm.

Just a formal letter accompanied by a checkbook and cards can make your dream of closing an account that you no longer need come true.

The only question that remains here is how can I do it.

Relax!

Here I will guide you on everything you need to know about closing your bank account, specifically I will teach you;

  • What is a bank account closing letter?
  • Reasons to close your bank account
  • What happens if you do not close a bank account?
  • How do you write a letter to close your bank account?
  • sample letter to close bank account
  • bank account closing letter pdf
  • bank account closing letter word format
  • bank account closing letter alternatives
  • etc

let’s get started

What is a bank account closing letter?

A bank account closing letter is a brief statement of facts written by a bank account holder to a bank (typically addressed to a branch manager) for the purpose of requesting the bank to close his/her bank account.

This letter does not have to explain why you want to close your bank account; however, it must include all relevant account information, such as account type, account name, and account number.

You may be required to mail your letter or hand it in at a bank branch.

There’s no need to wait on hold or in line, explain your situation to customer service, and hope that the account is closed quickly—just send the letter and be done with it.

Even if a letter isn’t required, sending one leaves a paper trail that may give you peace of mind if any mistakes or complications arise.

Please keep in mind that your bank may require you to use its own letter to close the bank account template, if this is the case, don’t bother to write yours from the scratch and just fill in the blanks in the letter provided by your bank.

Reasons to close your bank account

I’m sure, as long as you came here, you have settled that you need to close your account and you have valid reasons for that decision (much respect).

This is not to interrupt you but to let you explore out of the box. I’ve dedicated this section to discussing some tangible reasons that may lead you or any bank account holder (including myself) to close an account.

Reasons for closing a bank account differ from person to person. The most common reasons are

  • You feel that the bank charges are unbearable
  • You move out of the state/town where your current bank does not exist
  • Unstafsid by the customer service
  • You need to change the bank
  •  You have fulfilled the purse of opening that account, thus you no longer need it.
  • untrustable online services
  • etc.

Check this post from Forbes to learn more on how to close a bank account

What happens if you do not close a bank account?

If you haven’t used your savings or current account for more than a year, it will become inactive. After two years of inactivity, the account becomes dormant or inoperative.

An inactive bank account incurs charges, which vary depending on the bank’s policy. This charge is assessed on a month or annual basis and is not excessive. The fees may differ from one bank to another.

Furthermore, if a bank account is not closed, the restrictions on account operations become tighter- you cannot withdraw cash from the ATM, you can’t renew your cards, etc.

Generally, the hassle of closing your account is very minimal compared to the hassle of abandoning your account.

Now, how do you write a letter to close your bank account? read the guide below to learn how you can do it

How to write a letter to close a bank account

A bank account closing letter is written in business letter format. Begin your letter with your address and contact information, followed by a date and the bank address, salute the branch manager, and begin your letter by indicating that you are writing to inform you that you are closing your account(s), then provide the account details and explain what you have done to ensure that your account is safely closed.

You can also ask the bank to send you a check for the remaining balance(s) as well as confirmation of the account closure. Provide the avenue for further questions and Sign off with “Sincerely,” followed by your signature and name.

Keep in mind that the primary goal of your letter to close a bank account is to notify the bank that you really want to close your account.

So, in order to write an effective bank account closing letter, do the following;

  • Include your name and contact information
  • Include the date of the letter
  • Include the bank name, branch, and address
  • Clearly specify the details of the account you want to close- account type, account name, and account number.
  • Request the bank to notify you when they have already closed the account
  • State what you have done to make sure the account is closed safely eg. you deactivated all automatic recurring transactions on your account
  • Explain what you need from the bank after the account is closed eg.  to send a check payable to you for the remaining balance(s)
  • Be simple and straightforward
  • Maintain a professional tone
  • Be honest

other useful tips

  • Check to ensure that there are no outstanding checks or automatic payments scheduled to hit your account before closing it.
  • Before you send the letter to close your bank account, you should empty it.
  • To keep track of an important transaction, download your account statements or transactions.

Format of a letter to close a bank account

The format of your bank account closing letter should be as follows;

  • Your Address
  • Date
  • Bank address
  • Subject line
  • Salutation
  • [opening paragraph]- A statement that you are writing to request an account closure.
  • [body paragraphs]- The details of the account (s), what have you done to make sure your account is closed safely, and what do you want the bank to do after closing your account.
  • [closing paragraphs] – provide avenue for further questions
  • Sincerely
  • name and signature

Sample letter to close bank account

Your Name
Your Address
City, State, Zip Code
phone
email

DATE

[Branch manager]
[Bank’s Name]
[Bank’s Street Address]
[Bank’s City, State, and Zip Code]

RE: Request to close my account

Dear Branch Manager

Please accept this letter as my written authorization to close the accounts listed below at your bank. All of my transactions have cleared, and I have stopped any future debits and credits to my account.

Account type: Checking/Debit Card /Savings
Account Name:……………………..
Account Number:………………
Card Number:……………………

Please send a check payable to me for the remaining balance(s) and an account closure confirmation to the following address:

Street Address:
City:
State:
Zip:

Please contact me in writing [email] or by phone at [Phone Number] if you have any questions about this request. Thank you for responding so quickly to this matter.

Sincerely,

[Your Signature]
[Your name]

Bank account closing letter pdf

Bank account closing letter word format

Bank account closing letter word format

Bank account closing letter alternatives

There could be a more straightforward way to close your account.

Consider a more technological or personal approach if you don’t want to print, sign, and mail a letter.

In some cases, banks may prefer one of these methods over a letter. Contact your bank to see which means they recommend.

The common alternative s to writing a letter to close a bank account includes

  • Use the bank form for account closure
  • Submit an Online Request
  • Call a customer services
Isack Kimaro
Isack Kimaro

Editor-in-chief and founder of sherianajamii.com. Holder of Bachelor of Laws (LL.B) and Post Graduate Diploma in Legal Practice. Lawyer by profession and blogger by passion