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Sample Letters for Closing Bank Accounts

By Edited Nov 13, 2013 0 1

These sample letters for closing bank accounts are free to use.  All you need to do is fill in your name and personal information and possibly tailor it a little bit to meet your exact needs.  Included in this article are example for checking, revolving, and savings accounts.   In addition, there will also be some information included to help you draft your own or alter these suggestions to fit your personal needs and situation.  Thanks for taking a look at them.

Sample Letter for Closing Checking Account

Contact info (name, address, etc.)

RE:  Bank Account Number

Bank Info (name, address, etc.)

 

To whom it may concern,

I am writing this letter to request my checking account with your facility be closed.  As you will note on my most statement, my current balance is zero.  I ask you to send me any paperwork needed to complete this transaction at the address listed above.  I would ask that you send the paperwork to me as quickly as possible, so I can get it removed from my credit report.

I am doing this because I feel the rate of interest I earn on my checking is too low.  I have found another institution that offers a substantially better interest rate.

If you have any questions, you can feel free to write or call me at the phone number and address listed.

 

Sincerely,

Signature

You Name Typed Here

 

Sample Letter for Closing Savings Account

Contact info (name, address, etc.)

RE:  Bank Account Number

Bank Info (name, address, etc.)

 

To whom it may concern,

I am requesting you to close my savings account, effective immediately.  I ask you to mail my balance of $183.96 to me at the address listed.  You may send my any of the needed paperwork as well.  I would like to expedite this process, so I ask you to act promptly in this matter.

I decided to switch banks recently because I can get a better rate of interest and avoid all the service charges I am incurring through your institution.

Please feel free to call me with any questions you may have.

 

Sincerely,

Your Signature

Your Name Typed

 

Sample Letter for Closing Revolving Bank Account

Contact info (name, address, etc.)

RE:  Bank Account Number

Bank Info (name, address, etc.)

 

To whom it may concern,

I would like to request you close my revolving account through your bank.  As you will note, I do not have a balance at this time, so the process should be able to be completed pretty quickly.  I ask you to mail me any forms that you might need to be filled out and act promptly.  I don’t wish to have this account reflected on my credit report for any longer than needed.

While I have been pretty happy overall with your facility, I recently opened an account with a different bank a will be able to get a much more favorable rate of interest on my charges.

Please call me with any questions you may have.

 

Sincerely,

Your Signature

Your Name Typed

 

On all Letters

When you write any letter in an effort to close a bank account, you really do owe it to the institution to explain why you are choosing to quit doing business with them.  This is not only a courtesy, but it also opens the door for potential negotiations.  If they are losing your business because you are getting a better interest rate, for example, they might be willing to match or beat the competitor, which could ultimately benefit you financially.  Keeping the door open is also very important because you never know when you might need to ask them for a loan down the road. 

Be professional.  There is no reason to be rude or short with the bank, even if you feel you have been slighted by them in some way.  Being professional can be hard, but it can help you out in the future if you have to do business with them again.

Contact information must be very accurate.  This will serve as the only means they have to contact you and mail you any forms you might need to complete the process.  Be sure you include your name as it appears on your statements, so the bank can quickly and accurately located and verify the account information.  This is probably the most important thing you will add to the letter you write.

It is incredibly important to make sure you sign the letter you send to them.  If it is not signed, it will most likely not be honored in any way.  In some cases, it might even be a good idea to have it notarized.  This will add a certain amount of legality to it, and make the bank take it more seriously.

Be sure you alter all the sample letters for closing bank accounts, so they fit your situation precisely.  These examples and only for illustration purposes and cannot and will not fit each and every person and their specific situation.  Be sure to use them only as a guide as you try to determine what to say to explain your situation fully to the bank.

Have Realistic Expectations

Do not expect the bank to simply close the account based on your letter alone.  There will almost certainly be forms that will need to be signed to complete the process.  This will delay the process, but it will still get done and be convenient for you.  Do not expect any funds to be sent to you until you have singed and returned any forms they send out to you.  This is not very likely to happen at all, even if you call and complain.  A good sample letter for closing bank account will serve you well.


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Comments

Feb 6, 2012 11:51am
mosilager
I didn't even know you had to write a letter to close a bank account!.
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