There is no fee for opening a DP account with ICICI. However, a nominal fee will be levied towards services, as per our tariff. Form for Closure of Demat. By filling up a cancellation form: ICICI Bank credit cardholders who want to cancel or close their credit cards can download a cancellation form from www.infinity.icicibank.co.in.
Are you writing an application for closing your bank account? Then read this article carefully as I will share the proper way to do the same. Moreover, I will share my personal experience of closing the bank account from abroad.
Closing our bank account properly is sometimes one of the biggest concerns for us, mainly if we are not profoundly knowledgeable about the finance and banking system. Often we are not sure about the addressee and essential points to include while writing an application for bank account closure. Moreover, banks do not want to lose their valuable customers and therefore try to keep the procedure fuggy.
The action to close your bank account frequently includes writing an official letter and hand it over, in person, to the branch manager in which you are a customer. In this article, we have mentioned the whole procedure of closing your bank account and also have provided sample application letters to ease out your difficulties.
Points to Remember While Writing an Application for Closing Bank Account
- Being an official document, your application letter should be concise and clear.
- The subject heading could be Closure of savings bank account.
- Mention your identity and bank account details without a miss.
- The application is usually addressed to your bank branch manager.
- You need to return your passbook, debit cards, checkbook, and any other belonging with your application letter.
- You may need to furnish a photocopy of your identity card.
- Check your account balance before applying for closure.
- Bank may charge you a nominal fee for the procedure.
Check Also:How Did My Brother Close My Bank Account? I Didn’t Even Need To Visit The Bank.
Did you ever find a bank account closure form to download?
Please be sure that the bank does not want to get rid of their loyal client, like you. This is why when you can easily find an easy to download account opening form, there is no such kind of form usually available when it comes to closing it.
This is because they do not want to promote the procedure. Should you tell the bank staff about your wish to close your account, they will most often tell you to continue even without any balance in your account or may offer some lucrative interest rate especially for you.
However, if you are sure to suspend your account and you are not operating the account anymore. There is no need to hesitate and approach your bank with your bank account closure application. All you have to do is to take a piece of paper and write an application letter to the bank branch manager requesting to close your bank account.
Now, what exactly are you going to write there? Check our sample application letters as reference.
How to Close Your Bank Account Properly?
Your bank account is one of the most important assets and you should know to operate it properly. While closing your bank account, you can follow these steps.
Find your balance: This is the first and foremost step before closing your bank account. Do you have a significant balance in your account?
Transfer electronically or Withdraw manually: You can consider moving the money to a new account or withdrawing the money. Transferring electronically is the most hassle-free procedure and takes less than a day usually. However, in some circumstances, you may consider withdrawing it manually. This is a more traditional way of doing.
Close your account: After transferring all your money, you can now write an application letter to close your account. Don’t forget to ask for a written document from your bank.
Destroy Cards and Cheques: It is better to destroy your debit cards and cheques at this stage. This will further help your privacy protected. Often banks ask to return your debit cards and cheques along with your application letter. You can also follow the instructions mentioned in your customer awareness booklet.
Letter1: Sample Application to Close Your Bank Account
To,
The Branch Manager,
State Bank of India,
Rajarhat Kali Mandir Branch
Date: DD/MM/YY
Subject: Closure of Savings/ Current Bank Account (whichever is applicable)
Sir/Madam,
This is to ask you to kindly close my savings/ current account (Account number _______________, CIF NO. _____________, IFS Code ____________) with your lender under the name of Mr. Saikat Debnath, resident of 124 Topsia Road, Rajarhat, Kolkata 700076, which I have been holding in this branch since six years. I was unable to operate the account for a long time, and I regret my inability to continue with the same. This is also to inform you that I am returning my bank passbook, checkbook, debit card along with my application. As proof of my identity, I am enclosing a self-attested photocopy of my voter identity card.
I, therefore, request you to please initiate a bank transfer of my current balance of an amount of ________ to my another account. Details of that account are mentioned below.
Bank Name:
Account Number:
IFS Code:
Thanking you,
Your Signature
Mr. Saikat Debnath
Letter2: Application For Closing Bank Savings or Current Account
To,
The Branch Manager,
State Bank of India,
Rajarhat Kali Mandir Branch, Date: DD/MM/YY
Subject: Closure of Savings/ Current Bank Account
Sir/Madam,
I request you to kindly close my savings/ current bank account number ………………. as I am not in a position to operate the same because of unavoidable circumstances. I am also returning my passbook, checkbook, and debit card No. …………….., along with this application.
You are asked to please return my balance amount through a demand draft.
Thanking you,
Your Signature
Mr. Saikat Debnath
Letter3: Most Straightforward Bank Account Closing Letter Sample
To,
The Branch Manager,
State Bank of India,
Rajarhat Kali Mandir Branch, Date: DD/MM/YY
Subject: Closure of Savings/ Current Bank Account
Sir/Madam,
I the sole holder request you to close my account with you from the date of this application. The details of my account are given below.
Or
We the joint holder request you to close our account with you from the date of this application. The details of our account are given below.
Bank Name:
Account Number:
IFS Code:
Thanking you,
Your Signature
Mr. Saikat Debnath
We always encourage you to consult with your bank employees before proceeding. In some cases, the bank may provide you with a prescribed format, and you should follow the rules mentioned by the bank.
Different Bank’s Account Closure Forms
Note:
- Some websites do not provide such application forms. In such cases, I have linked to their forms download page.
- I found Demat Account Closing forms for some banks. You can use them as a reference.
Axis Bank Account Closure Form
If you are a customer of Axis bank and want to close your bank account then use the link below to download the account closure form.
How long does it take to close a bank account?
It depends on your agreement and country. In most cases, it takes around three working dates. However, it can extend as long as two weeks in some cases. Stop using your account and wait for the period. You should get the details of closing in your associated email and mobile number once the account is closed.
Icici Saving Account
Can I close my bank account from abroad? My personal experience.
Yes! Indeed it is possible however, it may be difficult in some countries and not so difficult in others.
When I was working in Italy, I had to close one of my bank accounts in India due to insufficient maintenance of funds in my account. I tried to search on the internet but there was no good article available. Fortunately, my bank has a branch in Italy. I came up with an idea to write to the bank’s foreign customer care address. And they directed me to consult my home branch.
Below are the steps I followed to close my bank account while staying abroad.
Step 1: Write an email to the bank’s branch manager.
Icici Bank Account Closure Form
Step 2: He provided me a bank account closure application letter and an authorization letter.
Icici Bank Forms Download
Step 3: I filled up the application letter and authorize my elder brother to complete the process on my behalf.
Step 4: I replied back to the bank manager and CCed my brother.
Step 5: My brother went to the bank to complete the process. He had to produce identity proof for the verification process.
With the advent of technology, some banks provide online facility to close bank account from anywhere. It is always advisable to consult your bank before taking any action. I found another article regarding the same topic.
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