There are many banks to choose from to service your checking and savings account needs. Banks vie for business and will offer cash and other incentives to get new customers. Regardless of whether you’re moving to a new city or just want to change banks, the easiest way to close an account is to put it in letter form.
Writing a letter is so much easier than standing in line for hours and having to talk to an account manager. If you can’t etch time out of your schedule to make it the bank, a simple letter to close bank account can take care of the matter quickly, and you won’t have to pay any additional service charges that may accumulate.
Before closing an account, the bank is going to want to see a couple things. First, the account cannot be in the negative. If an account is in the negative, they will require it be brought to a zero balance before it can be closed out. Some banks will automatically close the account should it reach a zero balance, check your bank's policies.
They also want to make sure that there are no checks or debit transactions that are outstanding. Writing checks on a closed account is a serious offense and is a criminal act. While it may be an oversight, you want to make sure all checks have cleared before closing out the account. Another tip is to make sure there is enough money in the account to cover any fees that may be deducted, like monthly services charges. After all these items have been taken care of, you can officially close the account.
The letter must first and foremost be dated, as this can be of significant importance. You need to find out who is in charge of closing accounts at the local branch, and write to them directly. Make sure to get their full name so the letter goes right to them and not some other department. Get right to the point and spell out your request so they understand what you want.
You also need to tell them that there is no outstanding check on the account, this is important to a bank to know before closing the account. If there are tax id numbers associated with the account, be sure to include those in the letter. The account number is also important, especially if you have one or more accounts and you are only closing one.
If you have money in your account, ask them to mail you these funds in a check. Keep the letter short and sweet. If you have issues with the bank and have been dissatisfied with their services, make sure to include that in the letter. Banks do use feedback to enhance their services. After you have said everything there is, make sure to sign it and leave contact information in case they need to contact you.
Below is a sample letter to close bank account:
Sample Letter to Close Bank Account
Name of Consumer
Address of Consumer
City, State, Zip Code
Name of Bank
Address of Bank
City, State, Zip Code
Attn: Account Manager
RE: Closing Bank Account
Dear Account Manager:
I wish to close my bank account that I have with your institution. My bank account number is 036410-09. I have had this account for close to ten years, but due to my relocation for my company, I am now forced to switch banks. I have made sure that all checks have cleared and there are no pending debits to the account.
Currently, there is about $105 in the account. I understand that you will need to take out the monthly processing fees and also need to zero out the account. Could you please send me the money via check to my new address? My address is ADDRESS. I also have a new phone number you can contact with me; it is 555-290-0987.
I would also like to take a moment and let you know that although I had my account for so many years, I am not completely happy with my services. When the bank was taken over by the new company in YEAR, I found that the service lines were always long and I became more like a number than a customer. I liked the old hometown feel bank used to have.
Please contact me should you have any questions.
Signature of Consumer
Printed Name of Consumer
By Andre Bradley