This should probably be discussed in the cancel/exchange/retention thread, but I recommend trying to product change to the VentureOne instead of cancelling outright.

The VentureOne has no annual fee and the earning rate drops to 1.25x, but it preserves your points balance and retains all of the partner transfer capabilities of the Venture / Venture X cards.

As far as I'm aware, the ability to transfer to partners does require a Venture or SparkMiles card and a bank account alone is not sufficient to preserve any points balance.