Chase does not charge a fee to close a savings account
Chase does not impose a closing fee on any of its savings accounts, whether you hold a Chase Savings, Chase Premier Savings, or Chase Sapphire Savings account. You can close your account at any time without paying a penalty for doing so.
What you may owe instead depends on your account balance and whether you have any pending transactions. If your account is overdrawn when you close it, you are responsible for the negative balance. If you close the account while a deposit or withdrawal is still processing, Chase will complete that transaction and adjust your final balance accordingly.
The process itself is free—you simply contact Chase, confirm you want to close the account, and they handle it. No charge appears on your statement for the closure itself.
Key Takeaways
- Chase charges no fee to close a savings account, regardless of which savings product you hold.
- You remain responsible for any negative balance in the account at the time of closure.
- Pending transactions will complete after you request closure, so your final balance may change.
- You can close your account by phone, in person at a branch, or through Chase's online banking portal.
- If you have a linked checking account or other products, closing one account does not affect the others.
How to close your Chase savings account
You have three ways to close your account: by phone, in person, or online. The fastest route is usually by phone—call the number on the back of your debit card or on your account statement, and a representative will walk you through it in about five minutes.
If you prefer to close it in person, visit any Chase branch with a photo ID and your account number. The teller will verify your identity, confirm the account balance, and process the closure on the spot. You will receive a final statement by mail within one to two weeks.
Some Chase accounts allow closure through the mobile app or online banking portal under account settings, though this option is not available for all account types. If you do not see a close account option in your app, phone or branch closure is your route.
What happens to your money when you close
Chase will not hold your funds. When you close your account, you must tell Chase where to send the remaining balance. You can request a check mailed to your address, a transfer to another Chase account you own, or a transfer to an external bank account.
If you choose a check, it typically arrives within five to seven business days. If you choose a transfer to another account at Chase, the money moves immediately. If you choose an external transfer, it usually takes one to three business days depending on the receiving bank.
If your account is overdrawn—meaning you owe Chase money—you must pay that balance before or at the time of closure. Chase will not close an account with a negative balance without payment, or they may deduct the owed amount from another account you hold with them.
Reasons Chase may prevent immediate closure
Chase will not close your account if there are pending transactions still processing. This includes checks you have written that have not yet cleared, automatic bill payments scheduled to come out, or deposits that are still in the verification period. You will need to wait for these to complete before closure is final.
If you have a negative balance or an overdraft fee dispute in progress, Chase may require you to resolve it first. Similarly, if you have a linked credit card or other product with an outstanding balance, closing the savings account does not close those products—you must handle them separately.
If you have recently received a large deposit that Chase flagged for review under anti-money-laundering rules, closure may be delayed until that review is complete. This is rare but can add a few days to the process.
Avoiding unexpected charges before you close
The main charge to watch for is the monthly maintenance fee on your savings account, if your account type has one. Chase Premier Savings, for example, carries a $25 monthly fee if you do not maintain a minimum balance. If you close mid-month, you may still owe that fee for the full month, even if you close on the first day.
Overdraft fees can also appear after closure if a transaction clears after you have closed the account. For example, if you close your account on a Tuesday but a check you wrote clears on Thursday, Chase will charge an overdraft fee if the account no longer has funds. Bring your balance to zero or slightly positive before closing to avoid this.
Automatic payments set up on the account will fail once it closes, which may trigger late fees from the biller. Before closing, cancel any automatic payments or transfer them to another account. Check your recent statements to see which companies have been pulling payments from this account.
What to do if you want to reopen a closed account
If you close your Chase savings account and later change your mind, you can reopen it—but only within a limited window. Chase typically allows you to reopen a closed account within 30 days at no charge. After 30 days, you will need to open a new account instead, which requires a new application and a new initial deposit.
To reopen within the 30-day window, contact Chase by phone or visit a branch with your ID. They can restore your account to active status. Your old account number will be reactivated, and any linked services (like online bill pay) will resume if you set them up again.
If more than 30 days have passed, you cannot reopen the original account. You will open a new savings account and start fresh. This does not affect your credit score or banking history—closing and reopening accounts is a normal part of managing your finances.
Frequently Asked Questions
Will closing my Chase savings account hurt my credit score?
No. Closing a savings account does not appear on your credit report and does not affect your credit score. Credit scores are based on credit products like credit cards and loans, not deposit accounts. You can close your savings account without any impact on your creditworthiness.
Do I have to close my checking account if I close my savings account?
No. Savings and checking accounts are separate products. Closing one does not close the other. You can close your savings account and keep your checking account open, or vice versa. If they are linked for transfers, unlinking them is automatic when you close one account.
What if I have a pending direct deposit scheduled to hit after I close?
Contact your employer or the organization sending the deposit and update your banking information before the deposit date. If a deposit hits a closed account, Chase will typically return it to the sender, and you will need to contact them to resend it to your new account. This can delay your money by one to two weeks.
Can I close my account if it has a zero balance?
Yes. You can close your account at any balance, including zero. You do not need to maintain a minimum balance to close. If your account is at zero, Chase will simply close it and send you a final statement confirming the closure.
How long does it take for a closed account to stop appearing in my online banking?
Closed accounts typically disappear from your active account list within one to two business days. They may remain visible in your account history for record-keeping purposes, but you will not be able to make transactions on them. You can still view statements and transaction history for closed accounts for several years.