How do we really close the bank account?

[NikhilG]

Do we first take out all the balance and then notify bank, or do we write an email first. Do we require to physically visit bank for account closure?

 

[Aniket]

Do we first take out all the balance

Preferable/Advisable, instead of submitting other bank's details/cancelled cheque or waiting for DD or Banker's Cheque to get delivered physically. It takes time and bit inconvenient.

and then notify bank, or do we write an email first. Do we require to physically visit bank for account closure?

Depends from bank to bank. Some take closure request online as well, most likely, self declaration/consent is enough usually taken via Mobile/ Internet Banking, e-mail, call & links etc. and some don't & ask only to visit branch physically, where you will be required to submit closure request form and others if any.

 

[Aniket]

Preferable/Advisable, instead of submitting other bank's details/cancelled cheque or waiting for DD or Banker's Cheque to get delivered physically. It takes time and bit inconvenient.

Depends from bank to bank. Some take closure request online as well, most likely, self declaration/consent is enough usually taken via Mobile/ Internet Banking, e-mail, call & links etc. and some don't & ask only to visit branch physically, where you will be required to submit closure request form and others if any.

@vaibhav111 @BVC Kindly, mark it as the solution.

 

[NikhilG]

@vaibhav111 @BVC Kindly, mark it as the solution.

Once we close, what's the cool off period to open account again?

 

[Aniket]

Once we close, what's the cool off period to open account again?

That too again depends upon the bank and account variant/type.

There's no direct & concrete ans.

But most of them allow to open an other account just after the closure of the exciting one, subject to some exceptions and extraordinary circumstances, there is no so strict cool off period like credit card, which most of the issuers follow.