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#1813013 - 05/10/13 01:47 PM Example of account closing letter
BSAKeeper Offline
Junior Member
Joined: Aug 2007
Posts: 44
TN
We would like to close an account, we are looking for "nice" wording for a letter to send the customer, does anyone have a letter they would be willing to share? Also, are there any "rules" about how long we have to give them before we close the account? Thanks in advance.

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#1813085 - 05/10/13 03:03 PM Re: Example of account closing letter BSAKeeper
Matt_B Offline
Diamond Poster
Matt_B
Joined: Sep 2011
Posts: 1,651
A CU, Where Regs Don't Apply
For rules on advance notice, you're probably only bound by your account agreement (and possibly state law?), unless they have government benefits being deposited into the account, then you're looking at 30 days (I believe) notice.

Is it an account you've sent warnings to before? What are they doing that's significant enough to want to close their account, but you still want to be nice to them for?

Due to continuing high risk activity on your account, XYZ bank will be unable to continue doing business with you. Enclosed is a check for your account balance, please destroy your ATM/debit card, and discontinue use of any checks you may have.
_________________________
Someone's about to get horned!

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#1813190 - 05/10/13 04:29 PM Re: Example of account closing letter BSAKeeper
devsfan Offline
Diamond Poster
Joined: Jun 2004
Posts: 1,927
NYC
This is what our standard closing letter says:

We've made a business decision to close your account. Please do not make any further deposits or write additional checks. We will send you a check for the balance in your account on ________. Any checks presented after that date will be returned "account closed."

If you have any questions please contact the undersigned at xxx-xxx-xxxx.

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#1813450 - 05/11/13 12:04 AM Re: Example of account closing letter BSAKeeper
MagicCity Offline

Power Poster
MagicCity
Joined: Apr 2003
Posts: 3,003
Fort Lauderdale, Florida
We do as Devsfan does; The Bank has made a business decision to close your account ...
We give 30 days if they have government items or auto debits/credits.
If there are none of the above we may give as little as ten days, it depends on the situation.

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#1813779 - 05/13/13 09:59 PM Re: Example of account closing letter MagicCity
BSAZombie Offline
New Poster
BSAZombie
Joined: Feb 2007
Posts: 6
Galveston, TX
We have very similar process with 30 days notice and perhaps a bit longer if there is a history of direct deposits. Our closure letter has verbiage regarding that fact that " we have determined that our financial relationship is one that is not mutually beneficial".

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#1814065 - 05/14/13 06:25 PM Re: Example of account closing letter BSAKeeper
BSAKeeper Offline
Junior Member
Joined: Aug 2007
Posts: 44
TN
Thanks everyone.

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