How to close an HDFC bank account from Canada

Piyush Singh

29.09.23

4 minute read

Closing a bank account can come with a hundred hassles while you are still living in the country. Imagine doing it from overseas. However, you can be better prepared with the right guidance.

In this guide, we will discuss how you can close your HDFC bank account from Canada. In case you are in the market looking for a flexible global money transfer service provider, you can check out Wise. It comes with powerful money management features and is a great alternative to any financial institution worldwide. Moreover, you can use Wise with or without a bank account.

Table of Contents
How To Close an HDFC Account From Canada If your account has balance — If your account is dormant — How To Close an NRI Account with HDFC Bank From Canada Things To Keep in Mind while Surrendering an Account with HDFC Bank From Canada: Can You Close an HDFC Account Online? Is There a Fee For Closing an HDFC Account From Canada? Meet Wise - your international money transfer alternative

How To Close an HDFC Account From Canada

HDFC bank only allows you to close your account in-person. However, you do not need to go to the branch where the account was originally created. You can simply visit your nearest branch in order to initiate the closing process.

>Note: HDFC bank’s international branches are located in seven countries which include UAE, Bahrain, Africa, Qatar, Singapore, UK, and the Asia Pacific¹.

To close your HDFC bank account, you need to get an account closure form from any of their branches or you can download it online.¹⁰

Once you have the form, fill the required details and get it duly signed by all Joint Holders in the same order of names as appearing on the account to be closed. After this, you can submit the filled account closure form at any of your nearest HDFC bank branches.

Now, here are some circumstances that require specific instructions²:

If your account has balance —

In this scenario, you have to fund the account to the extent of the debit amount together with interest, before you submit your closure application.

Here are the fees for transferring funds to your HDFC bank account from overseas:

Description of Charges	Amount of Funds	Fees for Transfer³
Inward Remittance:	N/A	No charges
FCY Demand Drafts (Issuance):	Up to 500 USD or equivalent	200 INR + applicable taxes
	Above 500 USD up to 10000 USD or equivalent	300 INR + applicable taxes
	Above 10000 USD or equivalent	500 INR + applicable taxes
FCY Cheque Collection:	Up to 500 USD or equivalent	200 INR per transaction plus courier charge 50 INR per instrument
	More than 500 USD	0.25% of INR value (Min. 250 INR per transaction) + plus courier of 50 INR per cheque

Note: Charges mentioned above are charges levied by HDFC Bank only and does not include any charges that may be levied by originating/correspondent banks.

If your account is dormant —

In this scenario, you have to submit a letter at your nearest HDFC bank branch to activate your account. Your account closure request can be processed only after it has been re-activated.

You can also fill in the dormant account activation form¹¹ and submit that at your nearest HDFC bank branch for reactivating your account. No charges are involved.

How To Close an NRI Account with HDFC Bank From Canada

You can close your NRI account held with HDFC bank by submitting the Account Closure Form at the branch where the account was initially opened. The form must be signed by all Joint Holders in the same order of names as appearing on the account to be closed.

In case you are unable to visit the branch in-person, you can send the account closure application to either of the addresses provided:

Directly to your HDFC bank account branch
At any of the Overseas PO boxes¹²
Directly to their Mumbai office: HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013⁴

Things To Keep in Mind while Surrendering an Account with HDFC Bank From Canada:

Here are a few things you need to keep in mind while closing your account with HDFC bank:

Destroy or surrender the cheque book and debit card linked to the account being closed.
If your account is linked to any other product such as a Credit Card or online Mutual Funds, etc., you have to de-link or close that account prior to submitting instructions to close your bank account.

Can You Close an HDFC Account Online?

No, the documents, including the account closure form, have to be handed over in person at your nearest HDFC branch. HDFC bank is unable to process any request to close your account that has been received through PhoneBanking, NetBanking, Email, scanned or faxed copy for security and authentication purposes.

The only other option recommended by HDFC bank’s chatbot EVA is to send your application, alongwith the necessary documentation, by postal service or courier to your nearest branch to initiate the process.

Is There a Fee For Closing an HDFC Account From Canada?

Here are the fees for closing an HDFC bank account from Canada (all fees are given in INR):

Type of Account	Closing Date Since Opening of Account	Fees for Account Closure
Institutional Current Account⁵	Within 14 days or beyond 12 months	No charges
	Between 15 days and 6 months	500 INR + applicable taxes
	Between 6 and 12 months	250 INR + applicable taxes
Reimbursement Account⁶	Within 14 days or beyond 12 months	No charges
	Between 15 days and 6 months	500 INR + applicable taxes
Agri Current Account⁷	Upto 14 days	No charges
	15 days to 6 months	500 INR + applicable taxes
	6 to 12 months	250 INR + applicable taxes
	Beyond 12 months	No Charges
Kids Advantage Savings Account⁸	Within 14 days or beyond 12 months	No charges
	Between 15 days and 12 months	500 INR + applicable taxes
Defense Salary Account⁹	Within 14 days or beyond 12 months	No charges
	Between 15 days and 12 months	500 INR + applicable taxes (300 INR for Senior Citizens)

Meet Wise - your international money transfer alternative

Whether you are closing your account or you are simply tired of paying inflated fees for your international transactions, Wise can help.

Wise is a money services business (MSB) , one you can use with or without a bank account. With the multi-currency account, you can send money to 160+ countries in 40+ currencies, all at a mid market rate.

This ensures that you don’t lose out money owing to inflated markup exchange rates or any hidden transactional fees.

Wise also allows you to:

Receive money internationally in 9+ currencies
Manage your funds in USD, CAD, GBP, EUR, and more
Keep track of your money transfers with instant notifications
Pay and hold money in 50+ currencies with the Wise debit card

These benefits make Wise the perfect alternative to any financial institution, for seamless global money transfer.

Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.

Sources:

Sources verified on: 28 September 2023

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

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