You can close a Chase Premier Savings account by phone, in person at a branch, or through the Chase mobile app—the fastest route is usually a phone call to the number on the back of your card.
Chase does not charge a fee to close the account, and you do not need to have a zero balance first. However, you will need to move or withdraw any remaining money before the account fully closes, and Chase will mail you a final statement showing any interest earned through the closing date.
The process takes a few minutes on the phone or in a branch visit. If you close online through the app, the request goes to a Chase representative who will contact you to confirm. Either way, the account typically closes within one to three business days after you initiate the request.
Key Takeaways
- Call the number on the back of your debit card or visit a Chase branch in person to close the account immediately without waiting for a callback.
- You must withdraw or transfer all money from the account before it closes, or Chase will mail you a check for the remaining balance.
- Chase will not charge you a fee to close a Premier Savings account at any time.
- After you close the account, Chase will send you a final statement by mail showing interest earned and the exact closing date.
Closing by phone: the fastest method
Call the customer service number on the back of your debit card. You will reach a representative who can close the account while you are on the line. Have your account number and Social Security number ready—Chase will ask for both to verify your identity.
Tell the representative you want to close your Premier Savings account. They will confirm the current balance and ask what you want to do with the money: transfer it to another Chase account, transfer it to an external bank account, or have Chase mail you a check. If you choose a transfer, it typically posts within one to two business days.
The representative will give you a confirmation number. Write it down. The account will close that same day or the next business day, and you will receive a final statement in the mail within one to two weeks.
Closing in person at a Chase branch
Bring your debit card and a photo ID to any Chase branch. Tell the teller you want to close your Premier Savings account. They will look up the account, confirm the balance, and ask how you want to handle the remaining money.
If the balance is small, the teller can often give you cash on the spot. If you want the money transferred to another account, the teller will process that transfer, which typically posts within one to two business days. You will receive a receipt and a confirmation number.
The account closes immediately after the transaction. You will still receive a final statement by mail showing the exact closing date and any interest paid through that date.
Closing through the Chase mobile app
Open the Chase mobile app and go to the account settings for your Premier Savings account. Look for an option labeled "Close Account" or "Account Services." Tap it and follow the prompts to request closure.
The app will ask you to confirm your identity and to specify what you want to do with any remaining balance. You can request a transfer to another account or ask Chase to mail you a check. After you submit the request, a Chase representative will call you within one business day to confirm the closure and the disposition of your funds.
This method takes longer than calling or visiting a branch because you have to wait for the callback, but it is an option if you prefer not to call or visit in person.
What happens to your money when you close
You must move or withdraw all money from the account before it closes. If you do not specify what to do with the balance, Chase will mail you a check for the remaining amount. This check typically arrives within two to three weeks after the account closes.
If you want the money transferred to another Chase account you own, tell the representative during the closing process. The transfer usually posts within one to two business days. If you want it sent to a bank account at a different institution, provide the routing number and account number, and Chase will initiate an ACH transfer.
Any interest earned on the account through the closing date will be included in the final balance. Chase will show this on your final statement.
After the account closes: what to expect
Your debit card linked to the Premier Savings account will stop working for that account once it closes. If you also have a Chase checking account, your debit card will still work for that account—closing savings does not affect checking.
Chase will mail you a final statement within one to two weeks showing the closing date, the final balance, and any interest earned. Keep this statement for your records. If you requested a check, it will arrive separately, usually within two to three weeks.
If you closed the account by phone or app and did not specify what to do with the balance, watch for the check in the mail. If it does not arrive within four weeks, contact Chase customer service with your confirmation number.
Reasons you might want to close a Premier Savings account
Some people close a Premier Savings account because they no longer need a separate savings account, or because they have moved to a different bank. Others close it to consolidate multiple Chase accounts into one. There is no penalty for closing at any time, and Chase does not require you to keep a minimum balance or maintain the account for a certain length of time.
If you are closing because of low interest rates or high fees, keep in mind that Chase does not charge a monthly fee on Premier Savings accounts. However, the interest rate on savings accounts varies and is set by Chase based on market conditions. If you are looking for a higher rate, you may want to compare rates at other banks before closing.
Frequently Asked Questions
Do I have to have a zero balance to close my account?
No. You can close the account with any balance. If you do not specify what to do with the money, Chase will mail you a check. If you want the balance transferred to another account, tell the representative during the closing process.
Will Chase charge me a fee to close the account?
No. Chase does not charge a fee to close a Premier Savings account. You can close it at any time without penalty.
How long does it take for the account to close after I request it?
The account typically closes within one to three business days after you initiate the request. If you close by phone or in person, it may close the same day. If you close through the app, it takes longer because a representative must call you to confirm.
What if I change my mind after I request closure?
If you close by phone or in person, the closure is immediate and cannot be reversed. If you close through the app and a representative has not yet called you, you may be able to cancel the request by contacting Chase customer service. Once the account is closed, you cannot reopen it—you would have to open a new account.
Will closing this account affect my credit score?
No. Closing a savings account does not affect your credit score. Credit scores are based on credit history and borrowing activity, not on savings accounts. Closing a checking or credit card account may have a small effect, but savings accounts do not factor into credit calculations.