Union Bank of India is a well-known bank that is regulated by the government. This bank offers loans, deposits, net banking, online transactions, and other vital bank features that any user would demand at any time to manage their lifestyle with more convenient bank facilities and services.
However, if a person wishes to cancel their bank account for a variety of reasons, such as a transfer or other facility, or a personal reason or dispute, or anything else, this page has some procedures laid out in a systematic manner that anyone can follow to comprehend the account closing process.
Steps To Be Followed To Close Your Union Bank of India Account
- Steps To Be Followed To Close Your Union Bank of India Account
- Things to do before closing Union Bank of India Account
- Union Bank Of India Account Closure Form
- Union Bank of India Account closing charges
- Frequently Asked Questions
- What happens if the money deposited in your account is less than the minimum amount?
- Can I apply for my account closure without visiting the bank?
- Is it important to maintain a minimum amount in the bank?
- Can one close their account in the Union Bank of India through net banking?
- Is it possible to close the account of Union Bank of India online?
- Are KYC documents required for closing the account in the Union Bank of India?
- How can I get my amount back after closing my account?
- Can I close my Union bank of India account before a year?
- What if I fail to pay my negative amount to the bank?
Therefore, let’s get started with the steps to learn how to easily close your Union Bank bank account by following the advice provided below.
Step 1: The first and foremost thing to be done is to visit the bank directly and get the account closure form from the bank branch. One can visit any branch of the bank to get the closure form; this form is available in every branch and is handy to all. Alternatively, you can download the form from the official website of the bank. Click on the Union Bank of India’s account closing form.
Step 3: On the closure form, you’ll see numerous blanks that you need fill up. Read over each and every detail requested and fill it in as needed. Make sure you double-check the information you just entered to ensure that no bank-related issues arise during the procedure.
Your Account number, your name, the mobile number with which you registered your account, and, most importantly, your signature may be requested.
Step 3: After you’ve completed the above steps, you’ll be asked to specify how you’d like to receive the funds that are currently in your bank account. The money can be returned via check, cash, demand draft, or a transaction to another bank account if you have one. As a result, select an applicable choice.
Step 4: In addition to everything said above, you must personally visit the bank and hand over your KYC documents, or Know Your Customer (KYC) documents. Your PAN, which serves as proof of identity, is one of these documents. Together with this, you’ll need to provide address evidence to the bank personnel who will be closing your account.
Additionally, get a printout or photocopy of each document before handing it over to the bank officials. Make careful you sign and self-attest your documents since without these two steps, your documents will not be accepted by the bank branch and will be declared invalid.
Step 5: Once you’ve completed all of the above steps, take your bank account closure form and KYC documents to the bank branch and hand them over to the staff. They will complete the remaining steps, and you will be asked to withdraw the funds you already deposited into your account once your account has been successfully closed.
Below is a summary of all of the points mentioned previously.
- Obtain and complete the bank account closure form.
- Bring your KYC documents to the specific bank branch in person. Make care to sign required places or blanks, as well as self-attest.
- The bank officials will also require your passbook, debit card, credit card, and check.
- After all, the bank managers are the ones who will verify your closure form and other documentation. You can withdraw your deposit money from your bank account once they’ve verified everything.
NOTE If you have any difficulties or concerns while applying for your account closure, call the Union Bank of India helpdesk at 1800 22 2244.
Things to do before closing Union Bank of India Account
- Remember to withdraw your funds from your account after it has been closed.
- To begin, create a new account with any other bank before closing your old one. This is significant because after you withdraw the money, you may quickly execute transactions from the old to the new account.
- To avoid any complications and a hassle-free closure, clear all the dues you have in your prior account.
- The important aspect to remember is that the Union Bank of India assists its customers in restoring their bank accounts that have been closed for whatever reason.
Union Bank Of India Account Closure Form
You can account termination form from the Union Bank of India from the official site of the bank that appears as follow:
Union Bank of India Account closing charges
If you close your account within 14 days, the Union Bank of India will not charge you anything. If the account is to be closed within 12 months, rupees 173 must be paid along with the cheque book, and rupees 130 must be paid without a cheque book.
Frequently Asked Questions
What happens if the money deposited in your account is less than the minimum amount?
If you keep a smaller amount in your account, the bank will charge you a maintenance fee. This will also cause issues throughout the account cancellation process.
Can I apply for my account closure without visiting the bank?
No, closing a Union Bank of India account requires a personal visit to the bank and the completion of an account closure form. You can download the account closure form online, but you must visit the bank in person to surrender your KYC documents and passbook.
Is it important to maintain a minimum amount in the bank?
It certainly is. Otherwise, you will be penalized by the bank for not having a specific minimum balance in your account.
Can one close their account in the Union Bank of India through net banking?
Closing a negative balance account will result in a variety of issues.
Is it possible to close the account of Union Bank of India online?
Union Bank of India does not have an online mechanism for cancelling an account.
Are KYC documents required for closing the account in the Union Bank of India?
Absolutely, KYC documents, as well as the closure form, are required to continue the procedure.
How can I get my amount back after closing my account?
You will have the option of withdrawing your funds by check, cash, or transaction.
Can I close my Union bank of India account before a year?
Absolutely, you are allowed to do so, and you must pay a set sum.
What if I fail to pay my negative amount to the bank?
Failure to pay the negative amount will result in negative consequences, as well as legal action by the bank. As a result, you’ll have a lot of trouble opening a new account.