Account Closing Form Letter Due to SAR Filing
Answer by John Burnett, BOL Guru Guru Bios
Question: Where can I find a form letter that can be used to close a customer's account due to continuing activity from a SAR filing?
Answer: How about right here?
Customer:
[Name of financial institution] has determined that it does not wish to continue doing business with you. Please discontinue depositing to your account(s) no later than [DATE], and stop writing checks or authorizing transfers from the accounts by [DATE].
We will issue a check payable to your order for the balance of collected funds in the account(s) on [DATE]. You should arrange to pick up the check or authorize us to place it in the mail to your current address.
Note: The key to this letter is that you don't provide a reason for your decision, and you most certainly don't mention SAR filings.
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