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Application Letter For Closing Bank Account And Transfer Money

Application Letter For Closing Bank Account And Transfer Money Template for Malaysia

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Key Requirements PROMPT example:

Application Letter For Closing Bank Account And Transfer Money

"I need an Application Letter For Closing Bank Account And Transfer Money for my Malaysian savings account at CIMB Bank, with the remaining balance to be transferred to my local Maybank account, to be processed by March 15, 2025."

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Document background
The Application Letter For Closing Bank Account And Transfer Money is a crucial document used in the Malaysian banking system when an account holder wishes to terminate their banking relationship and transfer remaining funds. This document is necessary for various situations, including relocating to a different bank, consolidating accounts, or closing unused accounts. It must comply with Malaysian banking regulations, including the Financial Services Act 2013 and Bank Negara Malaysia guidelines, particularly regarding customer identification, fund transfers, and account closure procedures. The letter serves as official documentation of the customer's request and provides the bank with proper authorization to execute the closure and transfer. It typically includes personal identification details, account information, transfer instructions, and may require additional documentation for international transfers or joint accounts.
Suggested Sections

1. Date and Bank Details: Current date and complete bank branch address

2. Personal Information: Account holder's name, address, and contact details

3. Account Information: Bank account number(s) to be closed and account type

4. Closure Request: Clear statement requesting account closure

5. Transfer Instructions: Details of where remaining funds should be transferred, including receiving bank and account information

6. Verification Details: Identity verification information such as IC number or passport details

7. Contact Information: Preferred contact method for follow-up communications

8. Signature: Account holder's signature matching bank records

Optional Sections

1. Joint Account Declaration: Required when closing a joint account, including signatures of all account holders

2. International Transfer Details: Required for overseas transfers, including SWIFT code and additional bank details

3. Reason for Closure: Optional explanation for closing the account, if desired or required by bank policy

4. Outstanding Payments Declaration: Statement regarding any outstanding checks or scheduled payments

5. Urgent Request: Section indicating if expedited processing is required with justification

Suggested Schedules

1. Identity Document Copies: Copies of IC/passport or other identification documents

2. Proof of New Account: Documentation of the receiving account for fund transfer

3. Final Statement Request: Request form for final account statement if required

4. Bank Cards: List of cards to be returned or cancelled with the account

5. Outstanding Facilities Checklist: List of any linked facilities or services to be terminated

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions




















Clauses















Relevant Industries

Banking

Financial Services

Consumer Banking

Corporate Banking

Retail Banking

International Banking

Financial Technology

Customer Service

Relevant Teams

Operations

Customer Service

Compliance

Account Management

Banking Services

Retail Banking

Document Processing

Client Relations

Account Closure

Treasury

Relevant Roles

Bank Branch Manager

Banking Operations Officer

Customer Service Representative

Account Relationship Manager

Compliance Officer

Banking Services Executive

Financial Services Administrator

Treasury Operations Manager

Retail Banking Officer

Account Closure Specialist

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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