Are you interested to know more about the bank account closure letter?
You may find yourself in such a situation that you need to close your bank account. Maybe your business needs changes, so you must move forward and search for a new bank to switch to.
So, whatever the reason behind the scene, you are in need to close your existing bank account.
Writing a proper bank account closure letter is an important task as searching for an effective bank with higher interest rates. Often people end up with full of mistakes in the bank account closure letter.
Here is the solution for you. if you need to write a bank account closure letter, just stay with me till the end of this article.
Here, I will reveal 7 mistakes everyone makes in their bank account closure letter and tips to avoid them.
Continue reading this article!
Reasons to Close Your Bank account
You may want to close your banking account for an array of reasons. Here, I am providing some common reasons to move on from your existing bank account.
These include:
- You are moving to a new city or state
- You will get better interest rates on other bank
- You are switching to an online bank
- You do not like your existing bank’s customer service policies
- You have qualified for a bank bonus offer
- You are offered better services and rates elsewhere
- You will consolidate your bank account
- You will switch from a child account to an adult account
- You will open joint accounts
7 Common Bank Account Closure Letter Mistakes & How to Avoid
While writing a bank account closure letter, you must keep in mind that there is an exact format for writing an account closure letter.
You must understand the entire format before writing a letter of account closing.
If you make any mistake in the application, there are chances to cancel your request.
So, to help you, here, I am providing a few of the common mistakes that everyone makes while writing an account closing letter.
Mistake 1. Not Starting With Your name and address
Most applicants start writing the letter for the closing of a bank account with the body. They do not mention their name or other detail about themself.
This is a very common mistake made by most of the account holders in the UK. It is not the correct format. So, you must be aware of this fact while writing a bank account closing letter.
Tip: At first, you should start writing the account closing letter by mentioning your name. You must provide your name, and other details at the top of the letter.
Mistake 2: Net mentioning The Date Of Submitting The letter
This is another common mistake made by most of the account holders.
While writing the letter, most account holders only write the main purpose of writing the letter. They do not mention the date following their name, and other relevant details.
The details should contain your address, name of city, state, and zip code. You can also mention your contact number here. This will help the further processing.
Tip: After mentioning your name and providing the other details about you at the top of the letter, you must mention the date of submitting the letter to the bank for account closure.
This helps the concerned authority to understand who is submitting the letter and when.
Mistake 3: Not Mentioning The Bank name
Not mentioning the name of the bank is another common mistake made by most of the account holders. Most of them forget to mention the name of the bank.
However, you should focus on this matter. As it is not the correct format to write up a bank account closure letter. If you repeat the same issue, you may face problems in the further proceeding.
Tip: After providing all the information about you, you should focus on the next format, which is the name of the bank.
You have to write up the name of the bank where you are going to close your existing bank account. Along with the name, you can provide the bank address too.
Mistake 4: Missing The Subject Line
Missing the subject line to write up in the bank account closure letter, is another common mistake.
If you do not mention the purpose of writing this letter, the authority can not understand what is the reason for submitting the letter.
Most of the time, the authority puts a glance at the subject line. Then enter in the body of the letter. So, if it is missing from your application letter, you may face problems in further processing.
Tip: To avoid any delay, you must focus on the right format for writing the bank account closure letter. So, here, at this point, you have to write up the subject line.
It refers to mentioning the purpose of writing this letter. For example, “request For bank account Closure”.
Mistake 5: Improper Body Of The Letter
Most people make mistakes in this part while writing a bank account closure letter to the bank authority.
If the body of the letter does not clearly state what you want from them, then how they can serve you? So while writing this letter, you must be aware of the exact format of the body.
Tip: To avoid any further issues, you should start writing the letter to the bank for account closure with the right format.
The body of the letter is the most vital part. So, you should focus on this part. Here, I am providing the perfect structure of the body of the letter. Have a glace!
- Introduction: You need to start by mentioning your account details. These include account type and account type.
- Request For Closure: You should clearly state that you want to close your account.
- Reason For Closure: You may briefly explain why your account is closed.
- Instructions For Remaining Balance: you can provide instructions about what to do with the remaining balance of the account. You may request them to transfer the amount to another account.
- Contact information: You may include your phone number or email address for contact.
Mistake 6: Incorrect Closing
Most account holders make mistakes in this part of the letter. They do not know the exact format of closing of the bank account closure letter.
proper closing of an application letter shows respect and gratitude towards the authority. So, if you make the mistake of writing up closing, it will not be eyesoothing.
Tip: While writing the account closing letter, you must end up with a proper closing. You should politely end up your statement with words like “Regards”, or “Sincerely” followed by your signature and name.
Mistake 7: Improper Enclosures
Most account holders make mistakes mentioning all the enclosures. It is one of the main mistakes made by the account holders.
If you do not mention the proper enclosures, the authority can not understand if you have attached your relevant documents. So, it may delay further processing.
Tip: If you are enclosing any document, you must mention the names of those documents in your letter. these may include chequebooks, debit cards, and more.
FAQ
What to write in a letter to close a bank account?
Ans: If circumstances arise that you need to close your bank account, you have to write a letter for closure of your account to the bank. However, while writing a letter, you should be aware of the right format for writing a letter. The exact format includes:
- 1. Satart with your details
- 2. Provide bank details
- 3. Subject line
- 4. body of the letter
- 5. Closing
- 6. Enclosures
Conclusion
The situation comes when we need to close our bank account for some reason. In such a situation, we need to inform our existing bank and write up our statement to them. However, there is a right format for writing a bank account closure letter. If you do not know the exact format of the letter, just go through my article.
Here, I have put together 7 common mistakes made by account holders when writing a letter for the closing of a bank account. Also, I have provided the appropriate tips to avoid these mistakes. You can follow my tips and end up with the right formatted bank account closing letter. Initiate further processing with an appropriate letter!
