Dont know how to write a closing account letter?

Question

Like if you want to close an account, how do i go about it? I want to close it this afternoon

Answer 1

Are you talking about a bank account? My wife writes a check for the balance remaining and writes at the bottom "To Close Account". She then deposits it in her new account. Or you can do the same thing and write the check to yourself for cash.

Answer 2

In most cases you don't need to write a letter. You empty the account by writing yourself a check or withdrawing the funds, or getting a cashier's check. You then inform a banker that you no longer need that account and it's already been emptied out (this way they know you've maid up your mind and the money is gone already, so they don't try to talk you into staying). Make sure you get something from them, like a printout and watch your statements until they stop coming to make sure that the balance is zero. Sometimes a less experienced banker will try to close an interest bearing account without giving you the interest accrued so far for that month, which results in the account having a slight positive balance at the end of the statement cycle, instead of having a zero balance, and not actually closing, then the next month the monthly charge hits, taking you into the negative, and it snowballs from there if you are not watching the statements.

If you are closing the account by phone, empty the account first, then call the company and tell them the funds are withdrawn, you no longer want the account, please close it. Get the name/time/phone number so that you have proof of this conversation. They might ask you to send a letter. Usually a letter like that needs to be notarized to make sure it was really you that signed it. The letter would look like this:

"
November 20, 2006


From: John Doe
111 W Something Ave
Something, AZ 85032
[phone]

To: Customer Service Department
Bank of Something
P.O. Box 111
Something, CA 90555
[phone]

Re: Account Closure Request


Dear Something Bank Representative,

Please close my account number 1234455-4546 with your bank, effective immediately. I have found that I no longer need this account and have already withdrawn funds from it.

Thank you for your help.

Sincerely,


John Doe
Something, AZ
"

If you don't have checks for that account, you'll want to include in that paragraph "please send a check for the full value of my account, made payable to John Doe, to my home address listed above, then close the account." You'll then take it to your new bank and sign it in the presence of a notary, most banks don't charge their customers to do this.

One word of caution. The reason that I recommend you getting a printout or a record of a conversation is because some bank employees accidentally, or sometimes willfully forget to close your account. It may sit there, accumulating monthly charges. Then you may move and not update the address with this bank because you thought you were done with them, the charges keep accumulating, until you get a collections call for several hundred dollars, at which point, you are stuck with paying the money or it will ruin your credit. It is also possible that an autodebit you've set up at one point will hit the account before it's fully closed, resulting in overdrafts, etc. Your monthly AOL charge that you may have forgotten to turn off, can cost you a lot after overdraft charges. That's why I'd get proof of closure and monitor the remaining statements until they stop.

Hope this helps. Please e-mail me if you have any questions.

Answer 3

Go talk to the manager and explain the situation. Because it was 'several' checks is not going to float since it is a franchise. You could locate the receipts and if the stuff is still unused then take it back. They can charge you a check fee (upwards to $35 each because that will be charged to their bank along with the amounts of each check) The matter will go to court and you could face prosecution for willingly writing bad checks. One would be understandable but several topped with the fact you admitted you wrote checks without having a job to be able to deposit money in the account already is looking like an act of willful intent to commit a crime. Go beg AC MOORE for any job possible now to avoid the hassle of them going through court. Tell them you'll work whatever it is -even sweep the floors for free if they can work something out in your situation. All you can do is try and bringing the matter to them before they to you will show they sincerely screwed up.