Askari Bank

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Closing of Accounts

There are many reasons for closing of account. Some of the more common reasons are as follows: -

  • Account holder's own request
  • Death of account holder
  • Bankruptcy of account holder
  • Closing of account due to bad demeanor of account holder etc.

An account is closed at the request of an account holder or as a result of improper conduct of the account holder or because of nil balance of the account. In first case account holder’s request the manager of the Bank to close his account in black and white.

Account is closed on the written request of the customer ACBL debits Rs. 100/- as charges for closing the customer account from that account.  The account holder with draws the amount by writing a cheque and just leaves Rs. 100/- in his account. But to surrender the cheque book yet if some leaves are yet to be write to the bank as a necessary requirements for closing the account.

Procedure

  • The customer for individuals account write an application to the manager of the bank an a simple paper about the closing of his account with the bank (In case of proprietor ship partnership and limited company account the application should be written an firm or company letter –head)
  • The individual or in case of other type- proprietor firm and company surrender the cheque book to the bank.
  • The cheque book is then torn from one side and is attached with the application.
  • In case of Ltd. Company account resolution of the board of directors is also obtained to attach it with the application.
  • The account opening form of the account holder is taken from the account-opening file, and the application, cheque book, and resolution of board of directors in case of limited company account are attached with the form.
  • Lastly, it is written in “Red Ink on the form that account closed” and “Date of account closing.”


Everyday Posting

Following transaction of cheque book is posted:-

Dr_____________ party A/c                          25(for 10 leaves)

Cr______________ excises duty on cheque book 20

Cr______________ provincial tax on cheque book 5

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