Call American Express Bank to close your account
To close an American Express savings account, call American Express Bank customer service at 1-800-221-1111. Have your account number ready. A representative will confirm your identity, answer questions about why you're closing, and process the closure. The call typically takes 10 to 15 minutes.
American Express does not offer online account closure for savings accounts, so a phone call is your only option. You cannot close the account through the mobile app or website. If you have a pending transfer or deposit, ask the representative whether to wait for it to clear before closing, or whether closure will reject it.
After you hang up, the account closes immediately. You will receive a confirmation letter in the mail within 7 to 10 business days. Keep this letter for your records.
Key Takeaways
- Call 1-800-221-1111 with your account number ready; online closure is not available for American Express savings accounts.
- The representative will verify your identity and process the closure in one call, which takes about 10 to 15 minutes.
- Your account closes immediately, but you will receive written confirmation by mail within 7 to 10 business days.
- Withdraw or transfer any remaining balance before closing, or ask the representative what happens to funds still in the account.
- If you have automatic deposits or payments linked to the account, cancel or redirect them before you call to close.
What to do with your remaining balance
Before you call to close, decide what to do with any money still in the account. You can transfer the balance to another bank account, withdraw it as a check, or ask American Express to mail you a check after closure.
If you transfer the balance to another bank, have that account's routing number and your account number ready when you call. American Express can initiate an outgoing transfer, though it may take 3 to 5 business days to arrive. If you withdraw cash or request a check, the funds are yours immediately, but you lose any interest that would have accrued while the money was in the savings account.
If you do nothing, American Express will mail you a check for the remaining balance after the account closes. This usually arrives within 2 to 3 weeks. Do not close the account if you are expecting a deposit—ask the representative whether pending transfers will go through or bounce.
Cancel linked automatic deposits and payments first
If you have direct deposits (such as payroll or benefits) or automatic bill payments set to this account, cancel or redirect them before you close. American Express will not automatically forward these transactions to another account.
Contact your employer, benefits provider, or biller directly to update your account information. This usually takes 1 to 2 pay cycles to take effect. Once you confirm the change has gone through, then call to close the savings account. If you close first and a deposit or payment tries to post, it will be rejected, and you may face late fees or missed payments.
What happens to interest and pending transactions
American Express will pay you any interest earned through the date the account closes. This interest appears on your final statement or is included in the check mailed to you after closure.
If you have a pending transfer or deposit that has not yet cleared, ask the representative whether it will go through after closure or be rejected. Pending transactions can take 1 to 3 business days to settle, so timing matters. If a transaction is still pending when you close, it may bounce, and the sender or receiver may charge you a fee.
Reopen the account if you change your mind
If you close the account and then decide you want it back, you can reopen it by calling American Express Bank again. Reopening is usually straightforward and takes one call, though American Express may ask why you closed it initially.
However, if the account was closed due to inactivity or a violation of the account agreement, American Express may decline to reopen it. Ask the representative at the time of closure whether you can reopen if you change your mind, or whether closure is permanent.
Keep your account statements and tax documents
Before you close, download or print all statements from the past year. American Express may delete your online statement history after closure, and you will need these records for taxes (if the account earned interest) and for your personal records.
If the account earned more than $10 in interest during the tax year, American Express will send you a Form 1099-INT by January 31 of the following year. This form reports the interest to the IRS. Keep it with your tax documents even after you close the account.
Frequently Asked Questions
Can I close my American Express savings account online?
No. American Express does not offer online closure for savings accounts. You must call customer service at 1-800-221-1111. The call takes about 10 to 15 minutes, and the account closes immediately.
What happens if I close the account with money still in it?
American Express will mail you a check for the remaining balance within 2 to 3 weeks after closure. You can also ask the representative to transfer the balance to another bank account or mail you a check before you hang up.
Will closing the account affect my credit score?
Closing a savings account does not affect your credit score because savings accounts do not appear on your credit report. Only credit products like credit cards, loans, and lines of credit show up on your credit history.
How long does it take to close the account?
The account closes immediately after you call. You will receive a written confirmation letter within 7 to 10 business days. Any pending transfers or deposits may take 3 to 5 additional business days to settle.
What if I have a pending direct deposit when I close?
Ask the representative whether pending deposits will go through or be rejected. If a deposit bounces after closure, contact your employer or benefits provider to redirect it to another account. Redirect all automatic deposits before you close to avoid missed payments or late fees.