How To Close IDFC First Bank Account Online?

Opening any bank account is a breeze, with the employees assisting you every step of the way. This is common human behavior, especially because it brings their bank the business that they need to grow and expand. However, this is where you are going wrong. While opening doesn’t come with complications, you will surely face a lot of issues when it comes to closing the bank account.

From the charges levied to getting your funds transferred, the process is prolonged and quite hectic as well. However, with the IDFC First Bank account, the process is a lot more streamlined. This is primarily because they focus on enhancing the overall customer service experience of their account holders.

So, not just during opening an account, the bank ensures that closing the account is a breeze too. If you have an IDFC bank account that you are planning to close, this article should give you all the detailed insights into the process.

How to Close the IDFC Bank Account?

While you can open an IDFC bank account online, using their website or other digital platforms, you can’t close the bank account online. This is due to security purposes and something that almost every bank follows as a part of their general rules.

For closing the IDFC bank account, you need to visit your nearest bank branch to get the closure application form. If you don’t want to do that, you can also download the closure application form online from the bank’s official website.

Once you have the account closure form, you then need to go ahead and fill in all the details. Make sure that you fill out all the necessary disclosures as they come up in the form. You can’t leave any field open or blank before you submit.

Following filling out the form, you then need to focus on reaching out to the bank manager with the application to expedite the account closure process. It can be a breeze or it can take you some time to get through. Keep in mind that your bank account should have good records if you don’t want to end up in a complicated situation.

Also, keep and maintain a cordial relationship with the bank employees because if not, then there could be delays with the closure process too. It doesn’t take much for you to keep a check on the processes and support them cordially and in the right ways.

Steps to Close the IDFC First Bank Account

With the basic prerequisites out of the way, let us now focus on the actual steps that you need to follow to close the IDFC Bank account.

The process is quite straightforward. Follow the steps we mention below:

• The first step is to get hold of the IDFC FIRST Account Closure Form. It is available in the bank, or you can download and print it from their website.
• Once you have the complete form, fill up the details as asked. You have to sign wherever it is required. Keep in mind that if it is a joint account, then all the beneficiaries need to sign the closure form.
• Following filling up the form, you need to go ahead and submit it to the officer in charge or you can submit it directly to the branch manager.
• With the account closure form, you also need to submit the standard KYC documents like ID proof, address proof, etc. You need to submit the photocopy version of the same. You need to submit the PAN card’s photocopy. This is a must.
• Along with the KYC documents, you also need to submit the balance cheques and the passbook and other bank documents that no longer hold any more value following closing the bank account.
• If you have any amount left in your bank account, you need to transfer it to another account or withdraw it using cheques or demand a draft to cash it.

These are some of the easy steps that can help you successfully submit the account closure form and then go ahead and close the IDFC bank account without any kinds of hassle. Just ensure that you have all the documentation and other prerequisites with you.

Important Pointers about Closing IDFC Bank Account

If you are closing the IDFC bank account, there are a few important factors that you need to be mindful of. Ideally, we’d recommend that you sort these options first and then focus on closing the account for good. 

• Keep in mind that you should only close the IDFC bank account if you don’t plan to use it again in the future. Once you close the bank account, you can’t reopen it again. You’d have to go ahead and open a new account.
• If you have automated payment options attached to the bank account, you need to close or terminate them before you go and close the bank account. This is crucial.
• Before closing the bank account, request a bank statement for all the transactions so you can have them for reference in the future.
• If you have any linked EMI or other obligations with the bank account, you need to close them or get hold of the money before you close the account.
• Also, before you close the account, ensure that your account has the minimum balance if you don’t want to get extra charges levied on you.

These are some of the basic instructions that you should keep in mind before you go ahead and close the IDFC bank account. Keep in mind that you should focus on sorting out all the basic information and the associated formalities before closing the account.

When it comes to closing the IDFC First Bank account, we hope this article gives you all the insights that you need to follow through. Make sure that you submit the closure form application to the bank’s branch where you have the account in. This will make the closing process a lot easier instead of visiting a random branch that is close to you.