Partnership bank account closing letter

Partnership Bank Account Closing Letter

Letters Kate

A bank account that is held by two parties or individuals at the same time is known as a partnership bank account. The purpose of this type of bank account is to hold both partners equally liable to pay the interest, return, take profit, etc. Some people also open joint accounts because they want to be financially secure.

What is a partnership bank account closing letter?

It is a request letter that an account holder of a joint account writes to the manager of the bank and requests him to close the joint account. The purpose of writing this letter is to let the manager know that you are no longer interested in holding this account or you don’t need it anymore.

What are the reasons to write partnership accounts in a bank?

As the name suggests, this account is for partners who trust each other and carry out transactions from one account. This way, both can keep track of the same bank statement and remain on the same page. People generally go for account closure when:

  1. They file for divorce in court and no longer want to be in the marriage relationship.
  2. The breakup with their girlfriend/boyfriend.
  3. One of the partners has to move to another city and he/she cannot operate the account.
  4. The account was supposed to work for a specific duration and this duration has ended now.

There can be many other situations in which an account holder can think of closing the account in the bank. You should closely monitor your situation before you decide to write the letter. This way, you will be able to write an effective request letter.

How to write to the bank for account closure?

When you want your request letter to be approved readily, you should make sure that you write the letter with complete details. Here are some tips to follow to write a complete letter:

Give your account details:

This is a common mistake that many people make. They assume that the manager will have all the details with him that he will access immediately after reading their request letter. However, the manager can’t do it unless you provide your account details including a unique account number, account type, and some other pertinent details.

Make the purpose of the letter clear:

Although the reader has an idea about the letter due to the subject line, you should clear the purpose again in the letter. Mention that you want the partnership account, the details of which you have mentioned at the start to be closed. In addition, inform the reader that you have discussed the matter with the partner also and you and your partner are on the same page.

State the reason for the closure request:

The bank staff has to keep a record of the closure of all accounts. Therefore, they will always need to know the reason. Since you want to write a complete letter, you will not wait for the bank to ask you for the reason and provide the reason in this letter instead.

Download the template:

One of the easiest ways to draft an outstanding request letter is to find a prewritten letter template and then follow its structure and format. The template is generally designed by professionals and it will help you get the approval of your request as soon as possible. A sample closure of the account letter is given below:

Sample letter:

To: The manager of the bank

[Bank Name]
[Branch Name]
[Address]

Subject: A request to close the partnership account

Respected Sir,

This letter is being written to request you to close the partnership account bearing number (mention account number) in partnership with Mr. ABC. I and my partner Mr. ABC agree with each other to close this bank account. I would like to request you to guide me so that we can carry out the entire process of account closure.

The certified copy of the agreement of me with the partner regarding the closure of the partnership account has been attached to this letter. The unused checkbook of this account is being returned.

Partnership bank account closing letter

File: Word (.docx) & iPad
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