Having a bank account in Canara bank which is not in use for the long time? or you are not happy with the services provided by the bank or due to any other reason. Due to any of the reasons if you want to close your Account with Canara bank then you must know the steps required for closing your existing Canara bank account.
Also, having lesser number of bank Accounts is always good because for each and every bank account you have to maintain minimum balance. So it is always suggested for good housekeeping of one’s finances, to close bank accounts which are not in use.
Note: Before proceeding, don’t forget to delink your Canara Bank Account from Payments Platforms or Service Applications where you linked it like Paytm, BHIM, Uber, Swiggy, Zomato, Amazon Pay etc.
Things to keep in Mind before Closing Canara Bank Account
These are some must known facts before closing your Canara bank account.
- Once you Close your Canara bank Account you will not be able to re-open it again.
- Always keep the complete bank statement of your account before Closing your Canara Bank Account, for future use.
- Before Closing the Canara bank Account, you must clear all the pending dues.
Step by Step procedure to Close the Canara bank Account
Due to revolution in technology it has become a task of few seconds to open a bank account anywhere anytime all you need is your Aadhar Card and/or PAN Card for KYC purpose. But to close your Canara bank account you have both the methods, the conventional method(by visiting bank) and the Online method.
In order to close Canara Bank Account you need to follow the below mentioned steps.
By Visiting the Home Branch
Steps to close your Canara Bank Account by visiting home branch:
1. Visit to your Home Branch of Canara Bank
For this method you must walk into your home branch where you maintain your account and request for closing your Canara Bank Account.
2. Collect the Account Closure Form
You can easily collect the Account Closure Form from the branch or also the same form can be downloaded from the bank’s official site. This form seeks a reason to closure of account.
Note: If you want to close a joint account, then all account holders’ consent is must in black and white by signing the closure form.
3. Fill the complete details in the Account Closure Form
It is must to fill all the required details properly after getting the form. These are the five mandatory fields to be filled.
- Account holder (or Account Holders’ names in case of joint account) name.
- Account number of the account which you want to close.
- Your registered Contact Mobile Number.
- Signature of the Account holder exactly same as in the record of bank.
- Your reason for closing the Canara Bank Account.
4. Required documents at the time of Account closure
These are the must have documents at the time of Account Closure with Canara Bank.
- Passbook: You must return your passbook to the branch.
- Cheque Book: Also the Cheque Book must be handed over to the bank with left over leaves.
- Debit Card: Customer should also return his/her Debit Card which is used for transactions.
- ID proof: You also have to include your ID proof and Address Proof with other needed documents during closure of your Canara Bank account.
5. Charges for Closure
Usually Canara Bank doesn’t charge if you want to close your account within 14 days of opening the account. But after 14 days and before 1 year opening your Savings Bank Account you need to pay Rs.200/-per account and for CA/OD/OCC accounts you’ll have to pay Rs.750 per account. Normally, charges of closure of an account after 1 year are about 50% of the above mentioned charges.
This is all you have to do for closing your bank account with Canara Bank with this method. This is the old method of closing account of Canara Bank. Now more people are shifting towards using online method of closing Canara bank as it can be done anywhere anytime.
Closing of Canara Bank Account Via Internet/Online Banking
- Firstly, visit the official site of Canara Bank.
- Go to the option “Close Bank Account” and new web page will be opened.
- Then you need to fill required details like Account holder Name, Account Number etc.
- In the next step you have to add Aadhar card details and Registered Mobile Number.
- Select your mode of transfer of funds, which exists in your account followed by the reason to close the account.
- Submit all the details and you will get notification afterward on your registered mobile number stating the status of your account .
So, these were the two simple methods by which you can easily close your Canara Bank Account. You can choose any of the two methods according to your ease and convenience. A lot of people who are not well versed with technology might still prefer the traditional method of closing the Canara bank account by visiting the home branch. However, people who are tech savvy might prefer to follow the online method.