Process Update SBM Account closure request

Created by CS Managers, Modified on Thu, 26 Jun at 2:13 AM by CS Managers

Please find the process update below on the SBM Account closure & follow it with immediate effect:
  1. Account closure request: Customer reaches out to Niyo via chat/ticket and L1 Agent to perform the following tasks:
    • Check account balance
    • Check for Active FD/SCC
    • Customer Retention
***If the customer still wishes to go ahead with account closure, then proceed with (a) & (b)***
a) If Cx has only an SBM Savings account: 
    • Agent to respond to the customer to reach out to SBM Bank for the account closure process: 

  • Canned response:

Thank you for contacting us.

We understand you've decided to close your account, and we respect your decision. Please note that once your Niyo SBM account is closed, you will not be able to open another account with SBM.

To proceed with the account closure, please send an email directly to the SBM bank from your registered email ID. The relevant team will proceed with the closure request.

Typically, the bank actions service requests within 5–7 working days.

Here are the bank’s contact details:
If you need any further assistance, please feel free to get in touch with us.



b) In the case of Active FD & SCC: Agent to inform the Cx to withdraw the FD & follow the Parent-Child process on SBM account closure,
    • Parent ticket to be assigned to L2 Bank for SBM account closure
    • Child ticket to the Card Delivery team for SCC card closure

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