Request Letter for Closure of Bank Account of Company Sample
The company will have to collect the bank’s account closure form and submit it along with the required documents, viz. board resolution, etc.
However, if you cannot get a hold of the form, you can write a request letter for bank account closure to the concerned authority.
Below is a sample request letter for the company’s bank account closure that you can use for your reference.
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Sample Letter to Close Bank Account for Business: How to Write a Professional and Effective Letter
Closing a business bank account can be a tricky process. You may have to follow specific procedures and provide certain documents to your bank. Writing a professional and effective letter is an essential part of the process. In this article, we’ll provide you with a step-by-step guide on how to write a sample letter to close a bank account for your business.
Before we get started, there are a few things you should keep in mind. Firstly, make sure you have a good reason to close your account. If you’re dissatisfied with your bank’s services, try to resolve the issue with them first. If you’ve decided to switch to another bank, make sure you have opened a new account before closing your existing account. Lastly, check for any outstanding fees or charges on your account and settle them before you close your account.
Step 1: Begin with a Professional Greeting
Your letter should begin with a professional greeting that addresses your bank’s representative. If you know the name of the representative, you can address them directly. For example, “Dear Mr./Ms. Smith”. If you’re not sure who will be handling your request, you can address them as “To Whom It May Concern”.
Step 2: State Your Intentions
In the first paragraph of your letter, state your intention to close your business bank account. Be clear and concise about your decision. For example, “I am writing to inform you that we have decided to close our business bank account with your bank”.
Step 3: Provide Your Account Information
In the next paragraph, provide your account information such as your account number, account name, and any other relevant details. This information will help the bank identify your account and process your request quickly.
Step 4: Request for Account Closure
In the following paragraph, request that your account be closed. For example, “We request that you close our business bank account as soon as possible.”
Step 5: Provide Instructions for Remaining Balance
If there is any remaining balance in your account, provide instructions on how you would like to receive it. You can request for a check to be mailed to your business address or transfer the funds to your new account.
Step 6: Provide Contact Information
In the last paragraph, provide your contact information such as your phone number and email address. This will allow the bank to contact you in case they need any additional information.
Step 7: Close with a Professional Closing
End your letter with a professional closing, such as “Sincerely” or “Best regards”.
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TEMPLATE
(Letter to a bank requesting closure of a current account of the company)
Ref: __________
Date: _________
To
The Branch Manager
__________ Bank
__________ Branch
(Address)
Tel. __________
Dear Sir/Madam,
Sub.: Closure of current account of the company
We request you to please close our current account with your bank. The account number is ____________ (account number).
We have been delighted with the services provided by your bank. However, we have decided to close this account as we no longer need a business bank account. We will be withdrawing all the remaining funds from the account and closing it permanently.
We would appreciate it if you could process our request as soon as possible and send us a confirmation once the account has been closed. If you have any questions, please do not hesitate to contact us at ____________ (contact information).
Representative:
(Signature)
(Name of the Employee)
Employee Code: _____
Attested by:
(Signature)
(Name of the Senior Officer)
Employee Code: _____
Kindly acknowledge the receipt and do the needful at the earliest.
Thanking you,
Yours sincerely,
For _________ Limited
(Signature)
(Name of the Authorized Director/Officer)
(Designation)
Enclosures:
1) Certified true copy of board resolution
2) Chequebook
3) Account closure form
Conclusion
In conclusion, closing a business bank account can be a challenging process, but with the right approach, you can make it a smooth and hassle-free experience. Writing a professional and effective letter to your bank is a crucial part of the process, and following the steps we have outlined in this article can help you to achieve that.
Remember, when writing your letter, be clear and concise about your intentions, provide all the necessary information, and request for the account to be closed in a polite and professional manner. Additionally, be sure to settle any outstanding fees or charges on your account before you close it, and provide instructions on how you would like to receive any remaining balance in your account.
By following these steps, you can ensure that your business bank account is closed smoothly and efficiently, and you can move on to your next business venture without any unnecessary delays or complications.
