The fastest way to close a Chase savings account
You can close a Chase savings account in person at any Chase branch, by phone at 1-800-935-9935, or through Chase's online banking portal if your account is in good standing. The bank does not charge a fee to close. You will need your account number, and Chase will ask whether you want the remaining balance transferred to another account or mailed as a check.
If you close in person, bring a photo ID and your debit card. The teller will process the closure on the spot and can transfer funds immediately to another Chase account or an external bank account if you provide the routing and account numbers. By phone, the process takes about 10 minutes, and funds typically move within one to three business days. Online closure is available only if your account has a zero balance; if money remains, you must transfer it out first or use phone or branch closure.
Chase will send you a final statement showing the closure date and any remaining interest paid through that date. Keep this statement for your records, especially if you had automatic payments or direct deposits tied to the account.
Key Takeaways
- Close your account in person at a branch, by calling 1-800-935-9935, or online if the balance is zero — there is no fee.
- You must move or withdraw all money before closing; Chase will not close an account with a balance through the online portal.
- Funds transferred to another bank account arrive within one to three business days; checks are mailed and take longer.
- Cancel any automatic payments or direct deposits linked to the account before you close it, or redirect them to your new account.
- Keep your final statement as proof the account is closed, especially if you need it for tax or legal records.
What to do with your money before closing
Before you close the account, you must move the balance somewhere. You have three options: transfer to another Chase account you own, transfer to an external bank account, or request a check.
Transferring to another Chase account is instant. Log into Chase online banking, go to the account you want to close, select "Transfer Money," and move the full balance to your checking account or another savings account. The money appears immediately and you can close the account the same day.
Transferring to an external bank account takes one to three business days. You will need the receiving bank's routing number and your account number there. You can set this up online, by phone, or in person. Chase will send the funds via ACH (Automated Clearing House), which is the standard electronic transfer method. Some banks post the money the next business day; others take the full three days.
Requesting a check is the slowest option. Chase will mail a check to the address on file, which typically takes five to seven business days to arrive, plus time for you to deposit it. Use this option only if you have no other account to transfer to or if you need a paper record of the withdrawal.
Stop automatic payments and direct deposits
If you have automatic bill payments, paycheck direct deposits, or recurring transfers set up on this savings account, you must redirect them before you close the account. Chase will not automatically move these to another account.
Log into Chase online banking and go to "Bill Pay" or "Transfers" to see what is scheduled. For each automatic payment, update the account number to your new account or cancel it entirely. For paycheck direct deposits, contact your employer's payroll department and provide your new account number and routing number. For other direct deposits (Social Security, tax refunds, pension payments), log into the sending organization's website and update your banking information there.
Do this at least one week before you close the account. If a payment tries to post to a closed account, it will be rejected and you may face late fees from the biller or a delay in receiving funds from the sender.
Closing in person at a Chase branch
Bring your photo ID, your debit card, and the account number (or just your debit card — the teller can look it up). Tell the teller you want to close the savings account. They will confirm the balance, ask where you want the money to go, and process the closure.
If you want the balance transferred to another Chase account, the teller can do it immediately. If you want it sent to an external bank, provide the routing and account number and the teller will initiate an ACH transfer. If you want a check, the teller will order one and it will be mailed to your address on file within five to seven business days.
The teller will print a receipt showing the closure date and the disposition of your funds. Ask for a copy and keep it. The account will close that day, and you will receive a final statement by mail within one to two weeks.
Closing by phone with Chase customer service
Call 1-800-935-9935 and tell the representative you want to close your savings account. Have your account number ready, or be prepared to verify your identity with your Social Security number and date of birth.
The representative will confirm the balance and ask where you want the money sent. If you choose an external bank account, provide the routing number and account number. If you choose a check, confirm the mailing address on file. The representative will process the closure and give you a confirmation number — write it down.
Funds to an external account will be sent via ACH and arrive within one to three business days. A check will be mailed within five to seven business days. You will receive a final statement by mail confirming the closure.
What happens after you close the account
Once closed, you cannot reopen the same account. If you change your mind, you would need to open a new savings account, which may have a different interest rate and terms than the closed account had.
Chase will report the closure to credit bureaus, but closing a savings account does not hurt your credit score. Savings accounts do not appear on your credit report the way credit cards or loans do. Your credit is only affected if you had an overdraft or unpaid fees on the account.
You will stop earning interest on the account as of the closure date. Chase pays interest monthly, so if you close mid-month, you will receive interest only through the closure date, shown on your final statement.
If you had a debit card linked to this account, it will stop working. If you have a checking account with Chase, your checking debit card will still work. If this was your only account, order a new debit card for your new account before you close this one.
If you have a Chase savings account with a penalty for early closure
Some Chase savings products, such as certain promotional or high-yield accounts, may have terms that penalize you for closing within a set period. Check your account agreement or call Chase to ask whether a penalty applies.
If a penalty exists, Chase will deduct it from your balance when you close. For example, if your account has a $25 early closure penalty and your balance is $500, you will receive $475. This is rare for standard Chase savings accounts, but it does happen with special promotional products.
If you are unhappy with the penalty, you can ask a branch manager or phone representative whether it can be waived. Some representatives have discretion to waive a penalty if you have been a long-standing customer or if you are closing due to a hardship, but there is no may provide.
Frequently Asked Questions
Can I close my Chase savings account online?
Only if the balance is zero. If money remains in the account, you must transfer it out first, then close the empty account through online banking. Otherwise, use the phone or visit a branch.
How long does it take for my money to arrive after I close?
If you transfer to another Chase account, it is instant. If you transfer to an external bank, it takes one to three business days via ACH. If you request a check, it takes five to seven business days to arrive by mail, plus time for you to deposit it.
Will closing my savings account hurt my credit?
No. Savings accounts do not appear on your credit report. Closing one will not affect your credit score unless you had unpaid fees or an overdraft on the account.
What if I have pending transactions when I close?
Pending transactions may still post after you close the account. If they do, Chase will reject them and the merchant or sender will be notified. To avoid this, wait until all pending transactions have cleared before you close.
Can I reopen the same account after I close it?
No. Once closed, that account number is retired. If you want a Chase savings account again, you would open a new one with a new account number and new terms.