Bank account transfer letter refers to a formal letter that a client submits to a bank in order to move their account from one financial institution to another.
In certain countries (like India), submitting a formal letter is still a requirement while in other countries (like the United Kingdom), it is possible to transfer an account digitally without contacting your current bank again.
In this article, we’ll discuss the information you will need to include in a bank account transfer letter and answer several common questions we receive from members on the topic.
This article is part of our free series on banking, ranging from how to open accounts as a foreigner to NRI bank account opening, and everything in between.
Feel free to use the table of contents to jump ahead to the sections most relevant to you.
Table of Contents
- Bank Account Transfer Letter
- How Do I Transfer My Bank Account to Another Bank
- Frequently Asked Questions
- Ready to Explore Your Options?
Bank Account Transfer Letter
Bank account transfer letter refers to a formal letter that a customer submits when they want to move their bank account to another financial institution. The transfer letter must include the client’s name and account number at the current bank. Additionally, the new bank and branch address will also need to be included in order to facilitate the transfer.
How Do I Transfer My Bank Account to Another Bank
How you transfer your bank account to another bank will ultimately depend on which country you bank in. As mentioned, in certain countries you can complete the program through a switching program which will facilitate an automatic transfer of the account and all standing orders, this ensures that you never miss a payment or delay an expense.
However, in other countries (like India), you may need to submit a formal letter to the bank directly in order to request a change. In order to do this, you will need to first contact the new bank where you want to open and agree to proceed with account opening.
You can then submit a formal letter to your bank requesting that they facilitate the switch for you. As mentioned above, a bank account transfer letter should include your name, account number, new bank, and address of the specific branch where you intend to open the account. Not surprisingly, you will also need to provide proof of identity and (depending on the bank) there may be fees that apply.
Below we share an example of a letter that you may want to use as a starting point. However, it’s important to point out that many banks have different requirements and may offer automated processes or forms that you can complete directly. So, it’s always best to check with your bank before proceeding.
How Do I Write a Letter to Transfer My Bank Account?
You can use the following example as a guide when preparing a bank account transfer request letter. Where “[ ]” is used, please insert the relevant details pertaining to your situation.
Sample Bank Account Transfer Letter
[Date]
To [Bank Name]:
Dear [Branch Manager],
My name is [Your Name] and I am writing to request that my [Account(s) Type] with account number [Account Number] is transferred to the following bank:
[New Bank]
[New Branch Address]
Please find attached a copy of my identification and deduct the applicable fees from the balance of my current account before completing the transfer.
If you require any further information before completing this request, please let me know.
Sincerely,
[Signature]
[Your Name]
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Frequently Asked Questions
Below are two of the most common questions that we receive from people in need of a bank account transfer letter. If you have further questions you would like answered, don’t hesitate to get in touch with us directly.
How to Write a Letter to the Bank Manager Requesting a Bank Account Transfer?
To write a letter to a bank manager requesting a bank account transfer you will need to include all of the necessary information, including your name, account number, the new bank where you want the account transferred, and the address of your new branch. You will also need to provide other supporting documents such as government-issued identification.
How Do I Write a Transfer Letter From One Bank Branch to Another?
To write a transfer letter from one bank branch to another, you will need to include your name, account number, the new bank you are opening with, and the specific address of the branch you want your account transferred to. In most cases, you will also need to provide a copy of government-issued identification.
Ready to Explore Your Options?
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