Letter to Bank for Closure of Current Account of a Company

In order to close the bank account of a company, the company will have to collect the account closure form from the bank and have it submitted along with the required documents viz. board resolution, etc.

A representative has to be authorized to collect in cash the balance lying in the bank account at the time of closure if the amount is below a certain level as prescribed under the law. Otherwise, the company will have to specify the mode in which the payment can be made by the bank to refund the balance money.

Generally, banks do not charge any amount if the closure is requested within 14 days or after 1-year period of opening of the account. However, if the closure of the account is requested after 14 days and before 1-year period, the bank may levy closure charges on the company.

Here is an example of the request letter for closure of the bank account of a company for your reference.

TEMPLATE

(Letter to a bank requesting closure of a current account of the company)

Ref: __________

Date: _________

To

The Branch Manager

__________ Bank

__________ Branch

(Address)

Tel. __________

Dear Sir/Madam,

Sub.: Closure of current account of the company

We hereby request you to kindly close the current account bearing number _____________, which belongs to our company i.e. ___________ Limited. A resolution has been passed in the __th meeting of the Board of Directors of the company for the closure of the said current account and regarding the remaining proceeds lying in the said account.

The certified true copy of the said board resolution is attached herewith for your records.

The unused cheque leaves of the chequebook bearing no. __________ for the above-mentioned account is surrendered herewith.

Further, we kindly request you to return the balance amount in cash to our following representative, the signature of whom is attested hereunder:

Representative:

    (Signature)

(Name of the Employee)

Employee Code: _____

Attested by:

    (Signature)

(Name of the Senior Officer)

Employee Code: _____

Kindly acknowledge the receipt and do the needful at the earliest.

Thanking you,

Yours sincerely,

For _________ Limited

    (Signature)

(Name of the Authorized Director/Officer)

(Designation)

Enclosures:

1) Certified true copy of board resolution

2) Chequebook

3) Account closure form