Account Closure Form: Fill & Download for Free

Dear People Out There!I’m writing this in Quora, Based on my personal experience with HDFC Bank official.People, Please keep in mind only one mantra, “I won’t pay my hard earned money to bank for non-maintenance ”Will explain you guys the procedure, how i closed my account.Step -1 : Call Customer support executive on phone- Ask him/her to raise case and arrange call from your home branch.Step - 2 - You will surely receive call with in 24 hours from personal banker officialTell them that they should waive off your negative amount on high priority.Then they will say, will check with their BM [ Branch Manager] and get back to you.After few hours you will receive one call from the same person or different, stating that you need to pay complete amount for account closure.Step - 3 You tell the same story, “No NO No No No I am not gonna pay you single amount to you guys, However if i leave as it is, this account will close automatically after 2 years [Dormant]. Then, they will say that they want to check with BM and get back to you.Step - 4 After few hours they will call you, and ask you Sir/mam, Bank manager ready to waive off some off your amount., For e.g. If your amount is 10,000 they will waive off 8000, remaining 2000 you have to pay for account closure.Step -5 Tell them the same story, “No NO No No No I am not gonna pay you single amount to you guys, However if i leave as it is, this account will close automatically after 2 years [Dormant] - Nobody will pay for closing their account. Then, they will say that they want to check with BM and get back to you”sir/mam at-least pay Rs 1000”, Write immediately Email to HDFC support and raise the same issue in Facebook page message (One to one message).Step- 6 Tell them all conversations has been recorded successfully, will be upload in various channels like you-tube,Facebook and twitter., Also i am not going to pay any single amount.Step - 7 You will receive call from bank officials stating BM has approved to close your account and waive off your AMB [Average Monthly Balance] charges.but you have to visit to branch.Step- 8 Please go to branch, get account closure form, Just fill your name,account number, reason for closing and your signature in 3 or 4 places. in-front of you those people will close your account and gives you the acknowledgment of account closure receipt in your hand. your account will be closed within 12 -24hours.Step - 9 Burn your cheque book, passbook and debit card.Yes [ personal analysis ], They will ask you money because they want to share your money internally with bank employees [ Branch ]. HDFC don’t have any issues with waive off your unwanted negative AMB charges but manager and personal bank official has.When i spoke to CS team from HDFC head branch ,They said they will waive off and ready close account but i am wondering why branch has problem to close.Note: I really appreciate Email and social media support team from HDFC , Without those people support, It won’t be happened..HDFC BANK: Please treat your customers loyally, so that you will not get a customer like me spending time to burn and write about you on quora.

The answer I am posting is based on my experience yesterday. What you need to do, is first collect the account closure form in the bank. Fill it properly. Carry your cheque book and ATM/debit card that will be needed to fill the necessary details in the account closure form. I had to delink my credit card as well from the savings account. Additionally I had to fill in my passport details too. That was it. I submitted just the account closure form without any other enclosures. They said my account closure will take approx. 7 days. I will be getting a confirmation call from their end once the account is closed and the balance amount will be paid to me as cheque, which I will have to collect from the branch. Most importantly, it doesn't has to be the base branch from where you got your account opened. It can be any branch.

Disclaimer : I am a 24 year old guy who is trying his hands all over the financial instruments & trying to cut the bullshit/fairy-land offered by advisors out there.It is a very easy process though & let me walk you through what I did?My parents opened an account with Karvy in 2014 while we were in UP as friend was a broker with the company. So the trust in the brand came from there, now in the span of next 4 years my parents bought 15,111 share of a company worth Rs 7.5 lakhs and left it idle in the account.In 2019, September news came up saying that Karvy Brokerage has defaulted and was found guilty of mismanaging with investors fund so SEBI put a stop on all the activities including selling or transfer of share.In November, SEBI asked Karvy to send all the shares or funds to NSDL repository till the investigation finalises. My father recieved a mail and message saying “Your account has been credited with 15,111 shares of this company”. So we were relieved but though we didn’t take any action.In March, came the great fall after which in recovery this stock was rising at a very good pace and then we though of clearing out the funds to safe-keep them for upcoming expenses but after a few email exchanges with NSDL I understood that we will still need a brokerage account to sell those shares. Then I got busy with work !In June, I started to research about the whole and these are my observations :We have to open one more brokerage account to transfer shares (NSDL or CSDL doesn’t matter).The new brokerage account has to be in the same name as Karvy’s to avoid tax on transfer.You have to ask your new Brokerage (Zeerodha in my case) for a CMR copy.You have to get the account closure form from Karvy where you have to fill out the details from CMR copy and send it to Karvy.None of the Karvy’s cutomer care number are not accessible for any clarification.How I proceeded with this information ?As luckily I am working in Hyderabad hence it was easy for me to get access to their office as they are based out in Hyderabad itself. So I called the office which is in Financial District (closest to me) but it didn’t go through so i went there the same day at 2.30 pm.I was told that the office hours are from 11am-5pm along with the customer care number has been changed and will be picked only if we will call with the number registered with Karvy else it will disconnect. We didn’t have the number and hence I have to enquire about everything personally.I recieved the Account Closure Form from helpdesk and confirmed the process (CMR copy+Closure Form>Shares Transfer). But now the bigger problem is my parents don’t have another brokerage account.It took one week to open Zeerodha account as they were busy with some work. Then, I logged in with their account and raised a ticket on this link for CMR copy (It will be free for first time). Along with that I sent a soft copy of the account closure form to them and they signed it and posted it back to me.I recieved the CMR copy along with the closure form with all required signatures and identity poofs (attested from my parents) in another week. I set sail again to Karvy next week.Let me tell it it was a very simple process, I filled out the details in front of them like new account id and checkboxes & the process was done. Another thing to keep in mind is the portfolio value which is showing right now on karvy account is wrong(they only told me). For that you can ask for a sauda report from service.karvy gmail id.In the next 10 days I was able to see the shares transferred to my parents new account.But there was an error saying some issue with the stock for which you have to go to console and set an average price at which you have bought the shares at (refer the sauda report in step 6 if you don’t remember). It took one day and I can sell the stocks whenever I want using the TPIN sent while opening an ID with Zeerodha.*This is dummy transfer copy with all the important things marked up*This is a CMR copy which I ordered from Zeerodha by initiating a ticket.Only these two things are required while doing the above transfer.Please upvote and keep hustling to make your parents proud. Feel free to contact me in comments or my email in profile . You can also join my page “Jago Niveshak” with 850+ followers .Continue Reading