Sample Letter To Close Bank Account For Business

A sample letter to close a business bank account can be a valuable tool for business owners who need to end their relationship with a bank. This letter can provide an explicit and formal request to the bank to close the account and provide any necessary information or documentation. It can also include details about outstanding transactions and request that future transactions be redirected to a new account.

Writing a sample letter to close a business bank account can help ensure a smooth and orderly process for ending the account relationship. It is essential to include all relevant information and follow up with the bank to confirm that the account has been closed and that all outstanding transactions have been settled.

How to Write Sample Letter To Close Bank Account For business

Step 1: Start with a Polite Opening

Begin the letter with a polite and professional greeting, such as “Dear Sir/Madam” or “To Whom It May Concern.” This sets a positive tone for the letter and shows respect for the bank.

Step 2: Provide Necessary Account Information

In the next paragraph, provide the necessary information about the account, including the account number and the name of the business. It is also important to mention the reason for closing the account and the date on which the account should be closed.

Example: “I am writing to request the closure of our business bank account with your institution. Our account number is [insert account number], and the name of our business is [insert business name]. We would like to close this account due to [insert reason for closing], and we request that the account be closed on [insert date of closure].”

Step 3: Settle All Pending Transactions

It is important to ensure that all pending transactions are settled before closing the account. This can be done by requesting a final statement or by confirming that all checks have cleared.

Example: “We request that you provide us with a final statement for the account, so that we can ensure that all pending transactions have been settled. We also confirm that all outstanding checks have been cleared, and there are no pending deposits or withdrawals.”

Step 4: Request Confirmation

In the final paragraph, request confirmation of the account closure and provide contact information in case the bank needs to get in touch with the business.

Example: “We kindly request that you confirm the closure of our account in writing. If you require any further information, please do not hesitate to contact us at [insert contact information].”

Step 5: End with a Polite Closing

End the letter with a polite closing, such as “Sincerely” or “Best regards,” and sign it with the name of the authorized signatory of the business.

Example: “Thank you for your prompt attention to this matter. We appreciate your assistance in closing this account. Sincerely, [insert authorized signatory name].”

TEMPLATE

Date: _________

To,

The Branch Manager
__________ Bank  
__________ Branch
 (Address)
 Tel. __________

Dear Sir/Madam,

Sub.: Closure of the current account of the company

I am writing to request the closure of our company’s current account, bearing number _____________. A resolution has been passed in the __th meeting of the Board of Directors to close this account and dispose of the remaining funds.

Attached to this letter is a true certified copy of the board resolution, as well as the unused cheque leaves of the chequebook with number __________.

We would also like to request that the remaining balance be returned to us in cash, and have provided the signature of our representative below:

Representative:
(Signature)

(Name of the Employee)
 Employee Code: _____

Attested by:
(Signature)

(Name of the Senior Officer) Employee Code: _____

We would greatly appreciate it if you could process this request as soon as possible.

Thank you for your assistance.

Sincerely,

For _________ Limited
(Signature)
(Name of the Authorized Director/Officer)
(Designation)

Enclosures:

1. A true certified copy of the board resolution
2. Chequebook
3. Account closure form

Here are some useful tips to keep in mind when writing a letter to close a bank account:

1. Be clear and concise: Your letter should clearly state that you want to close your bank account. Include the account number and the name of the business, along with the reason for closing the account and the date on which the account should be closed.
2. Provide necessary information: It is important to provide any necessary information, such as pending transactions so that the bank can help you close the account without any issues.
3. Use a professional tone: Your letter should be written in a professional tone, using polite language and appropriate salutations.
4. Request Confirmation: Always request confirmation of the account closure in writing. This will help to avoid any confusion or misunderstandings in the future.
5. Include contact information: Make sure to include contact information so that the bank can get in touch with you if necessary.

In conclusion, writing a letter to close a bank account for a business can be a simple process, as long as you follow the necessary steps and use a professional tone. By using a sample letter template, such as the one provided in this article, businesses can save time and ensure that their letter is clear, concise, and effective. Remember to provide all necessary information, request confirmation of the account closure, and use a polite tone throughout the letter. By doing so, businesses can successfully close their bank account and maintain a positive relationship with their bank.

Read More: Letter of Cancellation of Order