How to close a Chase savings account

You can close a Chase savings account by phone, in person at a branch, or online through your Chase account portal. The fastest method is calling Chase customer service at 1-800-935-9935 and asking to speak with someone about closing your account. Have your account number ready. If you close online, log into your Chase account, navigate to your savings account settings, and look for the close account option — the exact menu path varies depending on whether you use the mobile app or website.

Before you close, withdraw any remaining balance or transfer it to another account. Chase will not automatically send you a check for leftover funds. If your account has a negative balance (you owe money), you must pay that amount before closing. Some savings accounts have early closure fees if you close within a certain period — typically 60 days to one year depending on the account type — so check your account agreement or ask the representative about any fees that apply to your specific account.

After you request closure, it usually takes 5 to 10 business days for the account to fully close. You will receive a confirmation letter in the mail. If you had automatic transfers or bill payments linked to this account, those will stop, so update any recurring payments beforehand to avoid missed payments or overdraft fees on other accounts.

Key Takeaways

  • Call 1-800-935-9935, visit a Chase branch in person, or use your online account to request closure — phone is usually fastest.
  • Withdraw or transfer your balance before closing, because Chase will not automatically return leftover money.
  • Check whether your account has an early closure fee, which may apply if you close within 60 days to one year of opening.
  • Closure takes 5 to 10 business days, so update any automatic transfers or bill payments linked to this account before you request closure.
  • If your account has a negative balance, you must pay it off before the account can close.

What happens to your money when you close

Any money in your savings account remains yours — closing the account does not forfeit the balance. You must either withdraw the funds in cash, transfer them to another Chase account, or move them to an account at a different bank. If you have a small balance and do not withdraw it before closure, Chase will hold it and you can contact them later to retrieve it, but this creates unnecessary delay.

If your account is overdrawn (negative balance), you cannot close it until you pay the amount owed. Chase will not close an account with a debt. Pay the negative balance from another account or deposit funds to cover it, then request closure.

Early closure fees and account restrictions

Chase savings accounts may have an early closure fee if you close within a set window of opening the account. This window varies: some accounts charge a fee if closed within 60 days, others within 90 days or one year. The fee amount also varies by account type — it may be $25 to $100 or more. Check your account agreement or ask the representative on the phone what applies to your specific account before you request closure.

If you have a Chase savings account linked to a checking account as overdraft protection, closing the savings account will remove that protection. Your checking account will no longer be able to draw from the savings account if it runs low. Make sure you understand this change before closing.

Closing your account online versus by phone or branch

Online closure through your Chase account is available for most standard savings accounts. Log in, find your account settings, and select the close account option. The process is self-guided and takes a few minutes, but you will not be able to ask questions about fees or account-specific details in real time.

Calling customer service at 1-800-935-9935 lets you ask about early closure fees, confirm your balance will be handled correctly, and get a confirmation number for your records. A representative can also answer questions about linked accounts or automatic payments. Phone lines are open 24/7.

Visiting a Chase branch in person works if you want to withdraw your balance in cash at the same time you close. Bring your ID and account information. Branch hours vary by location, so check your local branch's hours before you go.

What to do with automatic payments and transfers

Before you close your savings account, check whether any automatic transfers, bill payments, or direct deposits are linked to it. If you have automatic transfers set up — for example, a weekly transfer from checking to savings — those will stop once the account closes. If you have bill payments coming from this savings account, those payments will fail and you may face late fees.

Log into your Chase account and review the activity on your savings account for the past few months. Look for any recurring transactions. Update any bill payments or automatic transfers to use a different account at least one week before you request closure. If you are not sure what is linked, ask the Chase representative when you call to close the account.

Timeline for account closure

Closure typically takes 5 to 10 business days from the date you request it. Weekends and holidays do not count toward this timeline. You will receive a confirmation letter in the mail within one to two weeks after the account closes. Keep this letter for your records.

If you close your account online, you may see it disappear from your account dashboard immediately, but the official closure in Chase's system takes the full 5 to 10 business days. Do not assume the account is closed just because you cannot see it online.

Reopening a closed Chase savings account

If you close your account and later change your mind, you can open a new Chase savings account, but it will be treated as a new account with a new account number. Chase does not reopen closed accounts under the original account number. You will need to go through the account opening process again, which includes identity verification and an initial deposit.

If you closed the account because of an early closure fee or other issue, consider whether that issue will be resolved before you open a new account. For example, if you closed because the account had a monthly fee you did not want to pay, check whether a different Chase savings product might suit you better.

Frequently Asked Questions

Will Chase charge me a fee to close my savings account?

Chase may charge an early closure fee if you close within 60 days to one year of opening, depending on your account type. The fee is typically $25 to $100. Check your account agreement or call 1-800-935-9935 to confirm whether a fee applies to your account before you request closure.

What if I have a negative balance on my savings account?

You cannot close an account with a negative balance. Pay off the amount owed from another account or deposit funds to cover it, then request closure. Chase will not close the account until the debt is paid.

Can I close my Chase savings account if I have a linked checking account?

Yes, you can close your savings account even if it is linked to a checking account. However, if the savings account was set up as overdraft protection for your checking account, closing it will remove that protection. Your checking account will no longer be able to draw from the savings account if it runs low.

How long does it take for my Chase savings account to close?

Closure takes 5 to 10 business days from the date you request it. You will receive a confirmation letter in the mail within one to two weeks. The account may disappear from your online dashboard immediately, but the official closure in Chase's system takes the full 5 to 10 business days.

What happens to my money if I close my savings account?

Your money remains yours. You must withdraw it in cash, transfer it to another Chase account, or move it to an account at a different bank before or during the closure process. If you do not withdraw it, Chase will hold it and you can contact them later to retrieve it, but this creates unnecessary delay.