A bank can end its relationship with a customer at any time, just as a customer can move to another bank at any time. A customer may move because a.
The Bank Manager
92nd Street West
New York, New York
RE: Application to close my bank account
This is to inform you that I would like to close my bank account in your bank. The details of my bank account are listed as under along with the unused check numbers.
Savings Account Number: 01234
Checking Account Number: 56789
There are no due checks to be cleared under these accounts. I request you to give the remaining balance of my account in check and send it to my postal address. If that would take time, then I request you to transfer the balance amount to my new bank account at Cityville Bank, whose account number is 45678.
In case of any further information or queries, kindly contact me at my email address which is [email protected] You can also call me at 0123456789.
Thanking you for your assistance for the same.
Closing Bank Account Letter - Free download as Word Doc .doc), PDF File .pdf), Text File .txt) or read online for free. letter requesting for closing bank acount.
Below is a guide of how to write a board of directors company resolution letter to close bank account and sample of the letter doc/pdf format.
This is a letter that is written by the company’s board of director to the bank asking it close the company’s bank account for a limited or incorporated business.
NOTE: Ensure that you withdraw all the money from your bank account before your close it. Otherwise the directors must indicate that they are willing to forfeit the remaining balance.
This sample letter is applicable for limited companies and should only include board of directors. The letter is available below in text however, you can download doc format atMuthurwa.com/downloads (file number 12);
CERTIFIED TRUE COPY OF THE RESOLUTION PASSED BY THE BOARD OF DIRECTORS OF KYOTE INTERNET GROUP LIMITED HELD ON THURSDAY the 17TH day of JANUARY, 2018 AT 10.00 A.M.
At the registered office of the company at Citam house, Nairobi, the board resolved to close the following non-operational bank accounts of the company with immediate effect.
THE BOARD RESOLVED FURTHER THAT Mr. Edgar Edgar, Director, and Mr. Sias Said, Manager, be and are hereby authorized to complete all the formalities to give effect to the said resolution, including returning ATM VISA card number 11111111111111111111, Cheque Book, and Digital Banking Card.
RESOLVED FURTHER THAT a copy of the said resolution duly signed by the director and manager of the company be given to the bankers for taking the same on their records.
|Designation: Director||Designation: Manager|
For the company:
Do not miss all our guides on how to write letters for termination or closure
A bank can end its relationship with a customer at any time, just as a customer can move to another bank at any time. A customer may move because a competitor offers a better deal or because the relationship with the bank is unsatisfactory or has broken down. A bank may decide to close a customer’s account because of how that person has been operating it, or because of regulatory requirements, or because the bank also feels the relationship has broken down. Banks are under no obligation to continue doing business with a person or company, but they should not close an account without good reason.
However, difficulties can arise when a bank ends its relationship with a customer based on its perception of customer conduct. It can be extremely confronting for a customer to be accused of abusive and threatening behaviour, particularly if the customer considers they did not act that way and/or the bank contributed in some way to the situation – for example, by making an error.
A decision to exit a customer on conduct grounds should therefore be handled with care. The Code of Banking Practice requires banks to act fairly, reasonably and in good faith. We consider this means the bank should, when considering closing a customer’s account:
Generally, a bank should not close your account without giving reasonable notice, which typically means giving you enough time to make alternative banking arrangements. Usually we would view "reasonable" as at least 14 days' notice.
In some limited circumstances, however, a bank can close your account without giving you any notice. These may include:
A bank does not have to explain why it is closing a customer's account, although in most cases banks follow good practice and give a reason. This gives the customer an opportunity to respond if the bank has misunderstood the facts of a situation or made a mistake.
A bank must return all the money in a customer's account at the time it closes the account, less any interest or fees that apply. A bank normally does this by sending a cheque to the last known address.
Complaints about a bank closing an account usually involve a customer challenging the bank’s reasons for doing so. Two of the most common reasons why a bank closes an account are:
In the first situation, it can be costly for a bank to monitor an account that is in overdraft. Therefore, a bank may decide that it does not wish to continue to offer this facility to a customer.
In the second situation, a bank has a duty as a good employer to protect its staff from abuse and violence. In these circumstances, we would expect a senior member of the bank who was not subjected to the abuse to make the decision to close the account.
Most people who complain to us about their account being closed want us to either stop the bank from closing their account or to get the bank to reopen their account. However, although we can award compensation for direct loss or inconvenience if we find some wrongdoing in the way the bank closed the account, we cannot require a bank to stop the closure of an account or reopen one.
If a complaint is solely about a bank's decision to close an account, and there are no concerns about how it was done (such as if the bank failed to give adequate notice), then it is unlikely we will investigate.
A bank may also need to consider closing accounts if it is unable to meet regulatory requirements, such as anti-money laundering legislation (see our AML Quick Guide) or international tax compliance regulations (more information is available here). Banks are required to collect certain information about customers and others involved with an account. Such information may include the customer’s identity, place of residence, tax residence status and source of money credited to accounts. If the information is not received, the bank may cease doing business with a customer.
Your account may be closed without notice if it has been used inappropriately or if your conduct towards a staff member is abusive.
Please note that your bank may require you to use its own account closure letter template. You may want to consult with your bank before using.
(Full postal address of the branch)
Sub: Closure of Savings / Current Bank Account (whichever applicable)
This is to request you to kindly close my account (number ************, CIF NO. *************) with your bank under the name Mr. / Ms. / Mrs. YOUR NAME, resident of YOUR FULL POSTAL ADDRESS, which I have been holding in this branch since ACCOUNT OPENING DATE. The account was inoperative for a long period of time and I regret my inabilities to continue with the same. I am also returning my pass-book, cheque book, ATM-Debit card, and credit card (whatever applicable) duly to the bank.
I request you to please issue me a demand draft for my existing balance and solicit your kind cooperation to go through the process. My contact number is ***** *****, and my email address is [email protected] in case you require the same.
Place: YOUR ADDRESS
Many people find themselves in situations where they need to do some financial ' house cleaning' and want to close some of their credit card accounts in order to.