cash withdrawal application letter format

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15 Sample Letters to Withdraw Application

Applying, whether for a job, a school program, or a professional opportunity, can be an exciting and hopeful experience.

However, there may come a time when circumstances change, and you find yourself needing to withdraw your application.

Sample Letters to Withdraw Application

Knowing how to write a clear, professional, and courteous withdrawal letter is essential to maintaining your reputation and leaving a positive impression on the organization or individual you initially applied to.

In this article, we will explore 15 sample letters to withdraw an application, providing you with the tools and inspiration to craft your effective withdrawal correspondence.

Letter 1: Withdrawing a Job Application Due to Accepting Another Offer

Subject: Withdrawal of Job Application – [Your Name]

Dear [Hiring Manager’s Name],

I am writing to formally withdraw my application for the position of [job title] at [company name]. Since submitting my application, I have accepted another job offer that aligns more closely with my career goals and aspirations.

I want to express my sincere gratitude for considering me as a candidate and for the time and effort you have put into reviewing my application. I greatly appreciate the opportunity to have been considered for this position.

Please accept my apologies for any inconvenience this may cause. I wish you and your team all the best in finding the ideal candidate for this role.

Thank you once again for your time and consideration.

[Your Name]

Letter 2: Withdrawing a School Application Due to Change in Educational Plans

Subject: Withdrawal of School Application – [Your Name]

Dear [Admissions Officer’s Name],

I am writing to formally withdraw my application for admission to the [program name] at [school name]. After careful consideration and reflection on my educational goals, I have decided to pursue a different academic path that better aligns with my long-term career aspirations.

I want to express my sincere appreciation for the time and effort you and your team have put into reviewing my application. I am grateful for the opportunity to have been considered for admission to your esteemed institution.

Please accept my apologies for any inconvenience this may cause. I wish you and your team all the best in shaping the future of your incoming class.

Letter 3: Withdrawing a Grant Application Due to Change in Project Scope

Subject: Withdrawal of Grant Application – [Your Name]

Dear [Grant Committee Chair’s Name],

I am writing to formally withdraw my application for the [grant name] submitted on [date]. Since submitting my application, the scope of my project has changed significantly, and I no longer believe that the project aligns with the goals and objectives of the grant program.

I want to express my sincere gratitude for considering my application and for the time and effort you and your committee have put into reviewing it. I greatly appreciate the opportunity to have been considered for this prestigious grant.

Please accept my apologies for any inconvenience this may cause. I wish you and your committee all the best in supporting worthy projects that align with your mission.

Letter 4: Withdrawing a Conference Presentation Application Due to Scheduling Conflict

Subject: Withdrawal of Conference Presentation Application – [Your Name]

Dear [Conference Organizer’s Name],

I am writing to formally withdraw my application to present at the [conference name] scheduled for [date]. Since submitting my application, an unforeseen scheduling conflict has arisen, and I am no longer able to attend the conference.

I want to express my sincere appreciation for considering my presentation proposal and for the time and effort you and your team have put into reviewing it. I am grateful for the opportunity to have been considered for this esteemed conference.

Please accept my apologies for any inconvenience this may cause. I wish you and your team all the best in organizing a successful and impactful conference.

Letter 5: Withdrawing a Volunteer Application Due to Personal Reasons

Subject: Withdrawal of Volunteer Application – [Your Name]

Dear [Volunteer Coordinator’s Name],

I am writing to formally withdraw my application to volunteer with [organization name]. Since submitting my application, personal circumstances have arisen that prevent me from being able to commit to the volunteer role at this time.

I want to express my sincere gratitude for considering my application and for the time and effort you have put into reviewing it. I greatly appreciate the opportunity to have been considered for this meaningful volunteer position.

Please accept my apologies for any inconvenience this may cause. I wish you and your team all the best in finding dedicated volunteers to support your organization’s mission.

Letter 6: Withdrawing a Scholarship Application Due to Change in Financial Circumstances

Subject: Withdrawal of Scholarship Application – [Your Name]

Dear [Scholarship Committee Chair’s Name],

I am writing to formally withdraw my application for the [scholarship name] submitted on [date]. Since submitting my application, my financial circumstances have changed, and I no longer require the scholarship assistance to pursue my educational goals.

I want to express my sincere appreciation for considering my application and for the time and effort you and your committee have put into reviewing it. I am grateful for the opportunity to have been considered for this generous scholarship.

Please accept my apologies for any inconvenience this may cause. I wish you and your committee all the best in supporting deserving students in their academic pursuits.

Letter 7: Withdrawing an Internship Application Due to Accepting Another Position

Subject: Withdrawal of Internship Application – [Your Name]

Dear [Internship Coordinator’s Name],

I am writing to formally withdraw my application for the [internship title] position at [company name]. Since submitting my application, I have accepted another internship offer that aligns more closely with my career goals and aspirations.

I want to express my sincere gratitude for considering me as a candidate and for the time and effort you have put into reviewing my application. I greatly appreciate the opportunity to have been considered for this internship.

Please accept my apologies for any inconvenience this may cause. I wish you and your team all the best in finding the ideal intern for this position.

Letter 8: Withdrawing a Board Position Application Due to Time Constraints

Subject: Withdrawal of Board Position Application – [Your Name]

Dear [Board Chair’s Name],

I am writing to formally withdraw my application for the [board position title] at [organization name]. Since submitting my application, I have realized that my current professional and personal commitments would not allow me to dedicate the time and energy necessary to fulfill the responsibilities of this position effectively.

I want to express my sincere appreciation for considering my application and for the time and effort you and the board have put into reviewing it. I am grateful for the opportunity to have been considered for this esteemed position.

Please accept my apologies for any inconvenience this may cause. I wish you and the board all the best in finding a dedicated and qualified candidate to contribute to the organization’s mission.

Letter 9: Withdrawing a Club Membership Application Due to Relocation

Subject: Withdrawal of Club Membership Application – [Your Name]

Dear [Club Membership Coordinator’s Name],

I am writing to formally withdraw my application for membership in the [club name]. Since submitting my application, I have learned that I will be relocating to another city shortly, making it impossible for me to participate in club activities.

I want to express my sincere gratitude for considering my application and for the time and effort you have put into reviewing it. I greatly appreciate the opportunity to have been considered for membership in your esteemed club.

Please accept my apologies for any inconvenience this may cause. I wish you and the club all the best in your future endeavors.

Letter 10: Withdrawing a Rental Application Due to Finding Another Property

Subject: Withdrawal of Rental Application – [Your Name]

Dear [Landlord’s Name],

I am writing to formally withdraw my application for the rental property located at [property address]. Since submitting my application, I have found another property that better suits my needs and budget.

I want to express my sincere appreciation for considering my application and for the time and effort you have put into reviewing it. I am grateful for the opportunity to have been considered as a potential tenant.

Please accept my apologies for any inconvenience this may cause. I wish you all the best in finding a suitable tenant for your property.

Letter 11: Withdrawing a Loan Application Due to Change in Financial Circumstances

Subject: Withdrawal of Loan Application – [Your Name]

Dear [Loan Officer’s Name],

I am writing to formally withdraw my application for the [loan type] submitted on [date]. Since submitting my application, my financial circumstances have changed, and I no longer require the loan to meet my current needs.

I want to express my sincere gratitude for considering my application and for the time and effort you have put into reviewing it. I greatly appreciate the opportunity to have been considered for this loan.

Please accept my apologies for any inconvenience this may cause. I wish you and your institution all the best in serving the financial needs of your clients.

Letter 12: Withdrawing a College Application Due to Gap Year Decision

Subject: Withdrawal of College Application – [Your Name]

I am writing to formally withdraw my application for admission to [college name] for the [semester/year]. Since submitting my application, I have decided to take a gap year to pursue personal growth and volunteer opportunities before beginning my college education.

Letter 13: Withdrawing a Workshop Application Due to Scheduling Conflict

Subject: Withdrawal of Workshop Application – [Your Name]

Dear [Workshop Organizer’s Name],

I am writing to formally withdraw my application to attend the [workshop name] scheduled for [date]. Since submitting my application, a scheduling conflict has arisen, and I am no longer able to participate in the workshop.

I want to express my sincere gratitude for considering my application and for the time and effort you have put into reviewing it. I greatly appreciate the opportunity to have been considered for this valuable workshop.

Please accept my apologies for any inconvenience this may cause. I wish you and your team all the best in organizing a successful and informative workshop.

Letter 14: Withdrawing a Promotion Application Due to Accepting Another Position

Subject: Withdrawal of Promotion Application – [Your Name]

Dear [Supervisor’s Name],

I am writing to formally withdraw my application for the [position title] promotion within our department. Since submitting my application, I have accepted another position within the company that aligns more closely with my career goals and aspirations.

I want to express my sincere gratitude for considering me as a candidate and for the time and effort you have put into reviewing my application. I greatly appreciate the opportunity to have been considered for this promotion.

Please accept my apologies for any inconvenience this may cause. I am committed to ensuring a smooth transition in my current role and will work diligently to support the department during this time.

Letter 15: Withdrawing a Conference Attendance Application Due to Budget Constraints

Subject: Withdrawal of Conference Attendance Application – [Your Name]

I am writing to formally withdraw my application to attend the [conference name] scheduled for [date]. Since submitting my application, budget constraints within my organization have made it difficult to secure the necessary funding for my attendance.

I want to express my sincere appreciation for considering my application and for the time and effort you have put into reviewing it. I am grateful for the opportunity to have been considered for this esteemed conference.

Withdrawing an application can be a delicate process, but with the right approach and a well-crafted letter, you can maintain your professionalism and leave a positive impression on the organization or individual you initially applied to.

By using these 15 sample letters as a guide, you can effectively communicate your decision to withdraw, express your gratitude for the opportunity, and apologize for any inconvenience caused.

When writing your withdrawal letter, be sure to:

• Be prompt in your communication to avoid unnecessary delays or confusion
• Express your appreciation for the time and effort put into reviewing your application
• Provide a clear and concise reason for your withdrawal, if appropriate
• Apologize for any inconvenience caused by your decision
• Maintain a professional and courteous tone throughout the letter
• Proofread your letter for any errors or typos before sending

By following these guidelines and adapting the sample letters to your specific situation, you can ensure that your withdrawal is handled with grace and professionalism, preserving your reputation and leaving the door open for future opportunities.

Letter Templates

sample authorization letter to withdraw money from my account

Are you in a situation where you might not be available to withdraw money from your account, but you need someone to do it for you? In such cases, you can write an authorization letter to allow someone else to withdraw money on your behalf. Here’s a sample authorization letter to withdraw money from my account that you can use as a guide.

To begin with, it’s important to note that an authorization letter is a legal document, and it should be treated with the seriousness it deserves. When writing an authorization letter, ensure that you include all the relevant details and verify that the person you are allowing to withdraw money has the necessary identification documents.

Readers can find the following examples and edit them as needed.

Tips for Writing an Authorization Letter to Withdraw Money from My Account

When writing an authorization letter to withdraw money from your account, here are some tips to keep in mind:

• Start with a clear, concise title
• State your reason for writing the letter
• Include all relevant details such as the name of the person you’re authorizing, their identification documents, and the amount of money they’re permitted to withdraw
• Ensure the letter is signed and dated
• Provide a contact number where you can be reached if needed
• Double-check the letter for any errors or omissions

Examples of Sample Authorization Letters to Withdraw Money from My Account

Authorization letter for spouse to withdraw money from joint account.

Dear Bank Manager,

I, [Your Name], hereby authorize my spouse, [Spouse’s Name], to withdraw money from our joint account. My spouse’s identification document is attached for verification purposes.

Kindly be informed that my spouse is authorized to withdraw a maximum of [Amount] from the account. Please contact me on [Your Phone Number] if you require any further clarification.

Thank you for your cooperation.

[Your Name]

Authorization letter for an employee to withdraw salary

I, [Your Name], hereby authorize [Employee’s Name], an employee in my company, to withdraw my salary for the month of [Month] from my account. [Employee’s Name]’s identification document is attached for verification purposes.

Kindly be informed that [Employee’s Name] is authorized to withdraw a maximum of [Amount] from the account. Please contact me on [Your Phone Number] if you require any further clarification.

Authorization letter for a friend to withdraw cash

I, [Your Name], hereby authorize my friend, [Friend’s Name], to withdraw cash from my account. My friend’s identification document is attached for verification purposes.

Kindly be informed that my friend is authorized to withdraw a maximum of [Amount] from the account. Please contact me on [Your Phone Number] if you require any further clarification.

Authorization letter for a family member to withdraw money from elderly person’s account

I, [Elderly Person’s Name], hereby authorize my [Family Member’s Name], to withdraw money from my account. My family member’s identification document is attached for verification purposes.

Kindly be informed that my family member is authorized to withdraw a maximum of [Amount] from the account. Please contact me on [Elderly Person’s Phone Number] if you require any further clarification.

[Elderly Person’s Name]

Authorization letter for a legal representative to withdraw money from a client’s account

I, [Client’s Name], hereby authorize my legal representative, [Legal Representative’s Name], to withdraw money from my account. My legal representative’s identification document is attached for verification purposes.

Kindly be informed that my legal representative is authorized to withdraw a maximum of [Amount] from the account. Please contact me on [Client’s Phone Number] if you require any further clarification.

[Client’s Name]

Authorization letter for a business partner to withdraw funds from a joint account

We, [Your Business Name], hereby authorize our business partner, [Business Partner’s Name], to withdraw funds from our joint account. Our business partner’s identification document is attached for verification purposes.

Kindly be informed that our business partner is authorized to withdraw a maximum of [Amount] from the account. Please contact us on [Your Phone Number] if you require any further clarification.

[Your Business Name]

Frequently Asked Questions About Authorization Letters to Withdraw Money from My Account

Can i authorize someone to withdraw money from my account without going to the bank.

Yes, you can. You can write an authorization letter and send it along with the necessary identification documents to the person you’re authorizing to withdraw money. However, it’s important to ensure that the letter is properly signed and dated and that the authorized person has the necessary identification documents to withdraw the money.

Can I set a limit on the amount of money the authorized person can withdraw?

Yes, you can. When writing the authorization letter, be sure to specify the maximum amount of money the authorized person is allowed to withdraw. This will help to prevent any unauthorized withdrawals from your account.

What should I do if my authorized person loses the letter or the identification documents?

You should immediately notify your bank and request them to block any transactions on your account until further notice. You can then write a new authorization letter and attach new identification documents for the authorized person.

Can I cancel the authorization letter after it has been issued?

Yes, you can. You can write a cancellation letter to your bank, requesting them to cancel the authorization. It’s important to specify the date from which the authorization should be cancelled and provide a reason for the cancellation.

Can I authorize someone to withdraw money from a savings account?

Yes, you can. The process of writing an authorization letter to withdraw money from a savings account is similar to that of a checking account. Ensure that you specify the type of account and provide all necessary details when writing the letter.

Do I need to include my account details in the authorization letter?

Yes, you do. It’s important to include your account details in the authorization letter to allow the authorized person to easily withdraw the money. This includes the account name, account number, and account type.

Writing an authorization letter to withdraw money from your account is a straightforward process, but it’s important to ensure that you include all relevant details and that the letter is properly signed and dated. By following the tips and examples provided in this article, you’ll be able to write a clear and concise authorization letter that will allow someone else to withdraw money from your account on your behalf.

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Authorization Letter For Bank Withdrawal

[Your Name]

[Your Address]

[City, State, ZIP Code]

[Bank Name]

[Branch Address]

Subject: Authorization Letter for Bank Withdrawal

To Whom It May Concern,

I, [Your Name], am writing this letter to authorize [Authorized Person's Full Name] to make withdrawals from my bank account [Account Number] on my behalf. I am unable to personally visit the bank due to [mention the reason for your absence, such as illness, travel, or other commitments].

I hereby grant [Authorized Person's Full Name] full authority to withdraw funds, sign any necessary documents, and perform any actions required for the purpose of withdrawal from the aforementioned account. The details of the authorized person are as follows:

Full Name: [Authorized Person's Full Name]

Date of Birth: [Authorized Person's Date of Birth]

Address: [Authorized Person's Address]

Contact Number: [Authorized Person's Contact Number]

Identification Type: [e.g., Driver's License, Passport]

Identification Number: [Authorized Person's ID Number]

This authorization is effective from [Start Date] and will remain in effect until [End Date] unless otherwise revoked by me in writing. I understand that any transactions conducted by the authorized person will be considered valid and binding.

I kindly request the bank to cooperate fully with [Authorized Person's Full Name] and provide any assistance they may require during the withdrawal process. I also request the bank to provide them with any necessary information regarding the account balance and transaction details.

I appreciate your prompt attention to this matter. If you require any further information or documentation, please do not hesitate to contact me at [Your Contact Number] or [Your Email Address].

Thank you for your understanding and cooperation.

[Your Signature]

[Your Full Name]

[Your Contact Number]

[Your Email Address]

Note: Make sure to customize the letter with accurate details, including names, dates, account information, and specific instructions as needed. Additionally, some banks may have their own specific authorization forms or procedures, so it's a good idea to check with your bank and follow their guidelines.

• Search Search Please fill out this field.
• Career Planning
• Finding a Job

Sample Letters Withdrawing a Job Application

• Why Job Seekers Withdraw

How to Withdraw Your Application

What to include in a withdrawal letter.

• How to Format the Letter or Email

Withdrawal Letter Template

Withdrawal letter email examples.

Have you changed your mind about applying for a job? When you started your job search, it might have seemed impossible that you’d ever voluntarily withdraw your application with a company.

Especially if you’re unemployed or have been eager to make a change for some time, you may have initially been eager for a job—any job. And now, here you are, trying to figure out how to leave the interview process with a prospective employer before they’ve even extended an offer.

You may be wondering if it’s rude to drop out in the middle of the process, or if you’ll burn your bridges with the employer by leaving after they’ve invested time interviewing you. If so, it might help to know you’re not alone.

Candidates end the job interview process with companies more often than you might think—and for all kinds of reasons.

Withdrawing also doesn’t have to sour the relationship with the employer or the hiring manager. Go about this the right way, and you’ll be able to work with these folks again later on, should your situation change.

Here are tips on how and when to withdraw an application for a job, what to write, and examples of withdrawal letters to review.

Why Do Job Seekers Withdraw Their Applications?

You know why you’re withdrawing your application , but it may allay your anxiety somewhat to know your reason is only one of many. Job seekers end the interview process for many reasons, including:

Accepting another job. Most professionals pursue multiple leads when looking for work, so it’s common to receive one offer while you’re still interviewing elsewhere. While it’s acceptable to ask for a bit more time to consider another offer that seems imminent, you may decide to take the one in front of you. In this case, you’d need to withdraw from the process with the other employer.

The hiring process. For some candidates, the hiring process itself can be an issue. A HireVue survey reports that some of the top reasons for withdrawing include the applicant's time being disrespected during the interview, poor rapport with the interviewer, the length of the process, and the job description not matching what was advertised.

Realizing the job isn't a good fit. During the interview process, you’ll learn about the company’s culture, goals, opportunities for advancement, salary, and so on. You may discover that your needs are incompatible with the employer’s requirements. If so, it’s a good idea to look elsewhere.

Relocation. Perhaps your spouse is being transferred out of town for their job, or maybe you’re going back to school or moving to a new area for personal reasons.

Family needs. A family member may be ill and need you to care for them, or perhaps your spouse is in the military and is deploying, necessitating a move closer to relatives who can help.

Whatever the reason, the most professional thing to do in this event is to notify the employer with a letter of withdrawal promptly.

People sometimes worry that withdrawing their application will burn a bridge with the company. In fact, if you are certain the job is not right for you, withdrawing your application is a favor to the company.

It saves them time and effort and allows the company to focus on candidates who are still interested in the position. Employers prefer to avoid making job offers that are rejected . The key to avoiding any soured relationship is to be polite and prompt with your withdrawal letter.

In your letter, you don’t need to provide a reason for withdrawing your application. You are simply letting them know you no longer wish to be considered for the position. If you decide to include a reason, keep it positive. If the job just isn’t a good fit, you can say so without implying anything negative about the company or its staff.

You should send the letter as soon as you know you are no longer interested in pursuing the job to allow the hiring manager to focus on viable candidates.

How to Format the Letter or Email Message

• Use standard business letter format. If you send your letter via postal service, you should format it as you would any professional business correspondence.
• Begin with your contact information , followed by the date and the employer's contact information. Your letter should begin with a polite salutation, and then express the reason you are writing.
• Thank them for the time they have spent considering you for the position.
• End with a professional closing.

When you send your letter of withdrawal via email, you don’t need to include the employer’s contact information. The subject line should include your name and “Withdraw Application.” Begin the letter with your salutation followed by a paragraph (or two) stating your intention to withdraw your application from consideration, and thanking them for their time. Close with your name and contact information.

Download the withdrawal letter template (compatible with Google Docs and Microsoft Word), or see below for more examples.

Letter of Withdrawal Example (Text Version)

Fredrick Applicant 123 Main Street Anytown, CA 12345 555-555-5555 frederick.applicant@email.com

January 24, 2024

Kendra Lee Manager Acme Electronics 10 Miles Road Stanford, NC 11289

Dear Ms. Lee,

Thank you very much for considering me for the position of Account Manager with Acme Electronics. However, I would like to withdraw my application for the job.

I appreciate you taking the time to interview me and to share information on the opportunity and your company.

Again, thank you for your consideration and the time you shared.

Signature  (hard copy letter)

Frederick Applicant

Take a look at our sample email letters of withdrawal to get ideas about what to say when you need to remove yourself from consideration for a job.

Letter of Withdrawal Email Example #1

Subject:  Firstname Lastname - Withdraw Application

Dear Mr. Jones,

I sincerely appreciate your consideration for the account manager position with your firm. I regret to inform you that I must withdraw my application for the job. My husband has received an attractive promotion with his company that will require relocation to another state, and we will be moving at the end of the summer.

Thank you for the time you spent reviewing my qualifications and meeting with me.

Best regards,

Firstname Lastname 999-999-9999 lastname123@email.com

Letter of Withdrawal Email Example #2

Dear Ms. Smith: 

Thank you for meeting with me last week to discuss the role of the marketing department. I enjoyed our conversation and was so intrigued by the projects that are in the works at XYZ company. 

I'm writing today to withdraw myself from consideration for the position since I was offered a role at another company and accepted the job offer. 

Thank you again for your time and consideration. 

Firstname Lastname 999-999-9999 firstname.lastname@email.com

Key Takeaways

• It's common for job seekers to withdraw applications for various reasons. Rest assured: Withdrawing doesn't necessarily harm your relationship with the employer if done professionally.
• Appropriate reasons for withdrawing your application can include accepting another job, realizing the job isn't a fit, relocation, or family needs.
• Notify the employer promptly with a polite withdrawal letter. Include your contact information, thank them for their consideration, and keep the tone positive.

HireVue. " Candidate Experience Research Report ."

Write An Application To The Bank Manager For Cash Withdrawal In English

Bank Manager, SBI Bank, Magadi Road Branch Near Magadi Road metro station, Bengaluru- 454332

Good evening sir,

My account number is XXXX, and Mahesh Singh Rajput is the account holder. My client ID is XXXX, and the IFSC code is XXXX. For your reference, I’ll be submitting the relevant ID proofs. Please inform me of the next steps for cash withdrawal.

I’m grateful in advance.

Related Posts:

Sample Authorization Letter to Bank for Money Withdrawal

If you are not around and you need to withdraw money from bank then you can easily write a letter of request to withdraw cash. This is an authorization letter for bank transactions which you write to the bank manager authorizing someone else to withdraw and deposit money on your behalf. This is a letter of proof of proof that you have given permission to someone else to withdraw cash from your account. Authorization letters are drafted to avoid confusions and complications in transactions. They can be written for different purposes.

Here is an example sample of authorization letter to bank to withdraw money. Use this format for easy cash withdrawal by someone on your behalf.

Formal Authorization Letter to Bank for Money Withdrawal

Jyoti Sharma 55 Gulmohar Lane Mumbai

Date: 08.12.16

The Branch Manager City Bank12/A Spring Heights Bandra West, Mumbai

I am writing in context with my account number 444-555-666 with your prestigious bank. I wish to authorize Mr. Adarsh Sharma, my brother to withdraw cash from my bank account in the month of December 2016 as I will not be in the country for this time. Therefore, I appoint Mr. Adarsh Sharma at 15, Richmond Apartments, Banda (E), Mumbai, as my representative over my account for this period to carry out bank transactions.

In case of any further information or query in this relation you can call me at 989898981.

Thanking in anticipation

Jyoti Sharma

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Home » Letters » Request Letters » Request Letter for Withdrawal of Investment – Sample Letter of Investment Withdrawal

Request Letter for Withdrawal of Investment – Sample Letter of Investment Withdrawal

Table of Contents:

• Sample Letter

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To, __________ (Receiver’s Name), __________ (Company Address)

Date: __/__/____ (Date)

Subject: Withdrawal of investment

Respected Sir/ Madam,

Most humbly and respectfully, I would like to inform you about the investment I have made with your company holding an amount of ________ (Amount) having account number ________ (account number).

I apologetically write this letter to inform you that I am looking forward to canceling the investment and withdraw the invested amount. I apologize for the sudden action being taken. As per the records, a sum amount of __________ (Amount) was invested and I want to withdraw the above-mentioned invested amount due to __________ (withdrawal reason). I request you to kindly guide me through the procedure in this regard.

I look forward to hearing back from you at the earliest. In case any query arises, you may contact us on ________ (Contact number).

Thanking You,

_________ (Signature), _________ (Name), _________ (Contact Number)

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• In most cases, you can withdraw your investment at any time, but it's essential to review the terms and conditions of your investment agreement for any restrictions or penalties.
• Depending on the investment type and company policy, there may be withdrawal charges or penalties. It's advisable to inquire about any associated fees before proceeding with the withdrawal.
• The processing time for an investment withdrawal request varies depending on factors such as the type of investment and company procedures. It's recommended to inquire with the company for an estimated timeline.
• You may need to provide identification documents and account details for the withdrawal process. It's advisable to contact the company or refer to the investment agreement for specific document requirements.
• While there may not be a strict deadline, it's advisable to submit your withdrawal request in a timely manner to avoid any delays in processing.

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Application Withdraw Letter Template

Download this Application Withdraw Letter Template Design in Word, Google Docs, PDF, Apple Pages Format. Easily Editable, Printable, Downloadable.

A letter template that you can use when you are writing to withdraw your application. This template is free to download and easy to edit and customize. It is both well formatted and printable.

Application Withdraw Letter

Dear Mr. Christi,

I would first like to offer my sincere thanks for considering me as a possible candidate for the position of Web Developer for your organization. I appreciate the offer and your interest in hiring me. However, I regret to inform you that I would like to withdraw my application for the job as I have already accepted another offer that is much more related to my current career goals.

I sincerely appreciate you taking the time to interview me and to share information on your organization. I regret any inconvenience that I may have caused. 

I wish your organization all the best in future endeavors.

Barry James Developer, SoftTech.Co

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Thursday, 29 August

How to withdraw from your savings pot in September

• Before you apply for a withdrawal from the savings pot of your retirement fund check that your tax status is "compliant" – your returns are up-to-date and any outstanding taxes paid.
• Also, check your retirement fund is not one of the few that are excluded from the two-pot system or, if you are an older provident fund member, if you need to opt in. 
• You must have enough in your savings pot to withdraw at least R2 000. 
• For more financial stories, go to the  News24 Business front page .

If after considering your options, you want to go ahead and withdraw money from your savings pot, these are the steps you will need to take:

Check your retirement fund will be included in the two-pot system

Your fund may not be part of the two-pot system if:

You have an older retirement annuity (RA), or

You are a member of a provident or provident preservation fund who was 55 years or older on 1 March 2021, are still a member of the same provident fund and you have not opted into the system. If you want to be part of the two-pot system and withdraw from the savings pot, ask your administrator how you can opt-in. 

Check your details

• Your contact details

Check that your retirement fund has the right contact details for you and that you are receiving statements from your fund. You need to check that your fund has the correct cell phone number, email address and physical address for you.

Your fund should have sent you some communication with its contact details, or you can ask your employer’s human resources (HR) department or check if the administrator of your umbrella fund has set up a webpage for your fund.

Your fund or its administrator may have set up a digital platform for members. If so, you should sign up to this platform to check your details and to make an application for a withdrawal.

Be sure when you do so that you are on the correct platform provided by your fund or your employer’s HR department.

• Check your identity details

Make sure your retirement fund has the right identity document details – for example, if you have married and changed your name – be sure your administrator has the correct name and identity number for you.

If your fund has a different spelling of your name on its system to that in your identity document, your application will be rejected to avoid fraud.

• Your bank details

Make sure your retirement fund has up-to-date banking details for you and that your bank account is in the same name as your identity document and the name the fund has for you.

Your fund will verify these details before making any payment to you and, if the details you submit in your withdrawal application do not match those the fund has on record for you, your fund will reject your application, and you will not get paid out. Funds are being very careful to prevent fraudulent withdrawals.

Make sure you have a tax number

In order to withdraw from your savings pot you will need a tax number – even if you are not paying tax because you earn below the tax threshold.

If your fund does not have your tax number, you will need to provide the administrator with proof of your tax number.

If you are employed, your employer should have registered you for tax regardless of how much you earn. Look on your payslip or IRP5 for the number.

If you are not sure if you have a tax number or you have forgotten the number, you can get it from the South African Revenue Service (SARS) here or look for "I need my tax number" on the SARS home page.

If you do not have a tax number, you will need to register for tax by using the SARS eFiling website or mobi app or by visiting a SARS branch – there is more info on this page on the SARS website.

Check your fund credit / savings pot balance

If you are preparing to make a withdrawal soon after 1 September 2024, check your fund credit to ensure you have a fund credit or balance of at least R20 000. If you do not, it means your savings pot will be seeded with an amount of less than R2 000 – the minimum withdrawal amount.

If it is after 1 September 2024 and you have a recent statement from your fund, check the balance in your savings pot is more than R2 000.

Check when last you withdrew from the savings pot

Check if you have made a withdrawal in the past tax year (since 1 March) – if you have, you will not be able to withdraw until the next tax year.

Check your tax affairs with SARS are in order

Before you apply for a withdrawal, make sure that your tax returns are up to date and any tax you owe has been paid to SARS.

If you have not filed the necessary tax returns, SARS can assess your tax based on the information it has from employers, financial institutions and third parties. If you have been assessed and SARS has decided you owe penalties and tax for failing to file tax returns, it is likely to deduct these amounts from any withdrawal from your retirement fund’s savings pot.

To check your tax affairs are in order, log on to the SARS eFiling site and choose "tax status" on the top right hand menu. Then select Tax Compliance Status on the menu on the left of the eFiling page and if you have not already done so follow the steps to Activate your status.

When it is active you should be able to check your "Tax compliance status" at the top left. It should have a green button saying "compliant". If it is red and says "not compliant", click on it to see what returns or taxes are outstanding.

File your outstanding returns to stop penalties accumulating and make arrangements with SARS to repay your outstanding taxes. If you have an arrangement in place to pay a certain amount each month, then SARS will not take the outstanding tax from your retirement fund withdrawal. Read more: Why should I not ignore my tax debt?

If you do not, SARS can instruct your retirement fund administrator to deduct what you owe from the withdrawal you make.

Find out how to apply for a withdrawal

Ask your retirement fund how you can apply for a withdrawal or look out for a communication from your fund as to the process you should follow. Most administrators will be encouraging members to use their digital platforms to make their withdrawals.

If you are employed, you can ask your HR department to advise you on the process.

Your fund, or your employer’s HR department, will direct you to the correct online process or form you need to complete.

Be sure when you complete the process or form to use the bank details that match those the fund has for you or update your bank details with the fund.

Supply the correct tax details

Before you can be paid, your fund has to apply for a tax directive from SARS and deduct the necessary tax.

Your fund’s administrator will ask you to provide certain details in order to apply for a tax directive from SARS. You need to supply the correct information to get the directive.

The fund will ask for your tax number and for your taxable income for the year.

SARS has yet to provide details on how you should declare that taxable income, but remember that at the end of the tax year, your tax will be assessed on the sum of:

• Gross income you earn from your employer for the year;
• Any income you earn from a business;
• Any income earned from renting out a property;
• Any taxable income earned from investments;
• Any income from a pension or annuity; and
• Any taxable capital gains you make.

This sum can be reduced by:

• Any expenses incurred to earn that income, such as expenses incurred in your business or expenses for maintaining your rental property;
• Any contributions to a retirement fund contributions you make within certain limits.

SARS is expected to provide a facility on its eFiling site to allow you to check the tax for which you will be liable, but this is not yet available.

Check the charges

Your retirement fund may charge you a transaction fee for making a withdrawal from your fund. Check with your fund or administrator what this charge will be and make sure you are comfortable having this fee deducted from your withdrawal.

Any issues verifying your identity or bank details could delay your withdrawal. Even if all your details are correct, it could take days for your fund to obtain a tax directive and for the claim to be paid out, especially if your claim is one of many a fund receives soon after 1 September 2024.

Submit your application

Only when you are comfortable with the amount you get after tax and charges should you submit your application for a withdrawal. In terms of SARS’s rules, once a tax directive is issued, it cannot be reversed - the withdrawal will go ahead and the tax will be deducted and paid over to SARS.

Ask your fund if it has a facility that will allow you to track your claim.

If you have a complaint regarding getting information about your fund or the way your withdrawal application is dealt with, first lodge a complaint with your fund. Only if you do not get a satisfactory response from the fund, take your complaint to the Pension Funds Adjudicator. If your complaint is about the tax deducted from your withdrawal, you retirement fund – and the administrator that acts on its behalf - cannot help you – you need to complain to SARS. If SARS does not assist you, you can approach the Tax Ombud. 

This article was first publish on  SmartAboutMoney.co.za ,  an initiative by the  Association for Savings and Investment South Africa  (ASISA). 

News24 encourages freedom of speech and the expression of diverse views. The views of columnists published on News24 are therefore their own and do not necessarily represent the views of News24.

News24 cannot be held liable for any investment decisions made based on the advice given by independent financial service providers. Under the ECT Act and to the fullest extent possible under the applicable law, News24 disclaims all responsibility or liability for any damages whatsoever resulting from the use of this site in any manner.

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