You can close a Chase savings account online, by phone, or in person—but you need to empty it first and settle any fees
Chase lets you close a savings account through their mobile app, their website, by calling customer service, or by walking into a branch. The process itself takes minutes, but you must withdraw or transfer all your money before the account closes. If you have a negative balance—meaning you owe Chase money—you'll need to pay that before closing. Chase will not close an account that still holds funds or owes a debt.
The fastest route is usually the mobile app or online banking if you're comfortable with digital channels. If you prefer to speak to someone or need help moving money, a phone call to Chase customer service or a visit to your local branch works just as well. There's no penalty for closing a savings account, and you don't need a reason to do it.
Key Takeaways
- You must withdraw or transfer every dollar from your Chase savings account before it can close.
- If your account has a negative balance, you must pay what you owe before Chase will process the closure.
- You can close the account through the Chase app, online banking, by phone at 1-800-935-9935, or in person at a branch.
- Chase will send you written confirmation of the closure, usually within one to two weeks after the account is closed.
- Closing a savings account does not affect your other Chase accounts or your credit score.
How to close your account online or through the app
Log into your Chase account on their website or mobile app and navigate to your savings account details. Look for a settings or account options menu—the exact location varies slightly between the website and app, but both have a "Close Account" or "Manage Account" option. Select it and follow the prompts. Chase will confirm that your account balance is zero before allowing you to proceed.
If you still have money in the account, the system will stop you and ask you to transfer or withdraw the funds first. You can transfer money to another Chase account instantly, or to an external bank account (which may take one to three business days). Once the balance is zero, return to the close account option and complete the request. You should receive an email confirmation immediately.
Closing your account by phone
Call Chase customer service at 1-800-935-9935. Tell them you want to close your savings account and have your account number ready. The representative will confirm your identity, check your balance, and walk you through moving any remaining funds. If you have money in the account, they can transfer it to another Chase account right away or to an external account (which takes longer).
Once your balance is zero and any fees are settled, the representative will process the closure. They'll give you a confirmation number and let you know when to expect written confirmation in the mail. The entire call usually takes 10 to 15 minutes.
Closing your account in person at a Chase branch
Visit any Chase branch with your ID and ask to close your savings account. Bring your account number if you have it, though the teller can look it up with your ID. The teller will review your balance, help you move any money if needed, and process the closure on the spot. If you have cash in the account, they can withdraw it for you immediately.
This method works well if you prefer face-to-face service or if you need to withdraw cash rather than transfer it electronically. You'll receive a receipt at the branch and written confirmation by mail within one to two weeks.
What happens to money still in your account
Before Chase will close your account, you must move every dollar out. You have three options: transfer to another Chase account (instant), transfer to an external bank account (one to three business days), or withdraw cash at a branch. Choose whichever is fastest for your situation.
If your account has a negative balance—meaning you've overdrawn it or owe fees—you cannot close the account until you pay what you owe. Chase will tell you the exact amount owed when you attempt to close. Pay it through any of the methods above, and then the closure can proceed.
What happens after your account closes
Chase will send you a written confirmation letter within one to two weeks. This letter serves as proof that the account is closed. Keep it for your records. After closure, you will no longer receive statements for that account, and you cannot deposit or withdraw from it.
Closing a savings account does not affect your credit score, your other Chase accounts, or your ability to open new accounts with Chase in the future. If you had automatic transfers set up to or from this account, those will stop, so check any other accounts that may have been linked to it.
If you're closing because of fees or low interest
Chase savings accounts charge a monthly maintenance fee if you don't maintain a minimum balance (the amount varies by account type). If fees are the reason you're closing, you can avoid them by maintaining the required balance in the future, or you can switch to a different bank. There's no penalty for closing, and you don't need to explain your reason to Chase.
If you're closing because the interest rate is too low, that's also a valid reason—many online banks and credit unions offer higher rates on savings. You can close your Chase account and move your money anywhere you want.
Frequently Asked Questions
Will closing my Chase savings account hurt my credit?
No. Closing a savings account does not appear on your credit report and does not affect your credit score. Only credit accounts like credit cards, loans, and lines of credit impact your credit history.
Can I reopen a Chase savings account after I close it?
Yes. You can open a new Chase savings account at any time after closing one. There is no waiting period or penalty. You'll go through the normal account opening process.
What if I have automatic payments or transfers linked to this account?
Any automatic transfers or payments set up to or from this account will stop once it closes. Before you close the account, review any other accounts or services that may be connected to it and update them to use a different account.
How long does it take for Chase to fully close my account?
The closure itself is processed immediately when you complete the request online, by phone, or in person. You'll receive written confirmation in the mail within one to two weeks. The account will not accept any new deposits or withdrawals after the closure is processed.
Do I need to close my account in the same way I opened it?
No. If you opened your account online, you can still close it by phone or in person, and vice versa. Use whichever method is most convenient for you.