Close Corporation Bank Account: Corporation Bank is a well-known bank in India. When you open a new account in Corporation Bank, at that point of time you might have never thought of closing your Corporation Bank Account. There can be a number of reasons to close your bank account in Corporation Bank. The reason may be due to bad behavior of the bank staff, having multiple accounts and you are not able to manage them, due to the closure of your company or it can even a dormant or inactive Corporation Bank Account which has not been used for quite a while.
Before you plan to close Corporation Bank Account, you must see to it that if your reason is due to improper behavior of some staff of that specific branch, you can plan to transfer your Corporation Bank Account. If you are planning to close your Corporation Bank Account just because it has been dormant or inactive for a long time, you can reactivate dormant Account in Corporation Bank easily. If you still think you want to close your Corporation Bank Account, you can follow the step-by-step procedure for closing bank account in Corporation Bank.
How to Close Bank Account in Corporation Bank?
If you are looking to close a Bank Account in Corporation Bank, you need to follow the 3 important steps mentioned below. Let us now tell you the complete procedure of closing bank account in Corporation Bank.
1) Filling up Corporation Bank Account Closure Form
Visit your Corporation Bank Home Branch and Ask for the Corporation Bank Account Closure form and fill it up completely.
Corporation Bank Account Closure Form will require you to fill in the following information :
- Account Holder’s Name
- Account Number
- Mobile Number of the Account Holder
- Option to receive the account balance by (1) Cash (2) Cheque/Draft (3) Balance transfer to any other Bank account
- Signature of Authorized Signatory of the Bank Account
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2) Returning your Debit Card, Cheque Book & Passbook
Along with the filled-up Account Closure form you also need to surrender your Debit Card, Corporation Bank Cheque Book and Bank Passbook to your Corporation Bank Home Branch.
In case you have not maintained your monthly average balance and your balance is below the minimum balance requirement, you will need to deposit the non-maintenance fine amount.
3) Submitting your Address & Identity Proof Documents
In order to prove your Identity and Address to your Corporation Bank Branch, you may also need to provide self-attested photostat copies of your Proof of Address and Proof of Identity.
As soon as you complete the 3 steps to close Corporation Bank Account, your account closure request will be processed and your account account will soon be closed. You will be receiving your Account Balance by the mode of payment mentioned in your Account Closure form i.e., via Cash, Cheque/Draft, or by Direct Transfer to any other Bank Account.
You might have noticed that it’s quite easy to close Corporation Bank Account offline by visiting the home branch. As of now, there is no method to close bank account in Corporation Bank Online. Closing a Bank Account in Corporation Bank is usually not recommended to anyone. Apart from just usual banking features a Bank Account serves you many other important purposes such as it acts as a valid address proof just by showing your Bank Passbook or Corporation Bank Account Statement. Also, a bank statement is needed while you take a loan, credit card, etc. So, if you just want to close your Corporation Bank Account just for the sake of closing it, I think you must give it a second chance.