Call Navy Federal's member services line to start the closure process
Navy Federal does not let you close a savings account online or through their mobile app. You must contact member services by phone at 1-888-842-6328 (the number for members outside the US is on your statement). Have your account number and a form of ID ready. A representative will walk you through the closure and answer questions about what happens to any remaining balance.
Member services is available Monday through Friday, 8 a.m. to 9 p.m. Eastern time, and Saturday 9 a.m. to 5 p.m. Eastern time. If you call outside these hours, you can leave a message and a representative will call you back, though this adds a day or two to the process. Calling during business hours is faster.
Before you call, decide what to do with any money in the account. Navy Federal will not close an account with a balance of $0.01 or more until that money goes somewhere — either to another Navy Federal account you own or to an external bank account you provide.
Key Takeaways
- Navy Federal requires a phone call to member services; you cannot close a savings account through the website or app.
- Any remaining balance must be transferred to another Navy Federal account or an external bank account before closure is complete.
- The account closes within a few business days after the balance is moved, though Navy Federal may take longer if there are pending transactions.
- If you have automatic transfers or bill payments linked to the account, cancel or redirect them before calling to avoid failed transactions.
- Closing a savings account does not affect your credit score or your membership with Navy Federal.
Move your balance before the account closes
If your savings account has money in it, you have two options: transfer it to another Navy Federal account you own, or have Navy Federal send it to an external bank account. The phone representative will ask which you prefer and will guide you through the steps.
If you transfer to another Navy Federal account (checking, money market, or another savings account), the transfer usually happens within one business day. If you transfer to an external bank account, you will need to provide the routing number and account number for that bank. Navy Federal will initiate an ACH transfer, which typically takes three to five business days to arrive.
If your balance is very small — less than $1 — some members ask Navy Federal to donate it or simply close the account and forfeit it. Navy Federal's policy on this varies, so ask the representative what options are available.
Cancel automatic transfers and bill payments first
If you have set up automatic transfers from this savings account to pay bills, transfer money to another account, or fund investments, those will fail once the account closes. Check your Navy Federal account online or in the app for any recurring transactions linked to the savings account you are closing.
Cancel or redirect each one before you call to close the account. If you forget and a payment fails after closure, you may face late fees or a missed payment on your record. The representative can tell you which transactions are active, but it is faster to review them yourself first.
If you have a linked checking account and automatic transfers between the two, make sure to stop those transfers or redirect them to a different savings account before closure.
Understand what happens after you call
Once you call and provide instructions for your balance, Navy Federal will process the closure. If your balance is being transferred to another Navy Federal account, the account usually closes within one to three business days. If your balance is going to an external bank, Navy Federal waits for the ACH transfer to complete (three to five business days) before closing the account.
Navy Federal may hold the closure longer if there are pending transactions — for example, a debit card charge that has not yet cleared, or a check you wrote that has not been deposited. Once all pending items clear, the account closes.
You will not receive a confirmation letter in the mail, but you can log into your Navy Federal account online and verify that the savings account no longer appears in your account list. If it still shows up after five business days, call member services again to confirm closure.
Closing a savings account does not hurt your credit or membership
Closing a savings account has no effect on your credit score. Savings accounts do not appear on your credit report, so the closure will not show up there. Your Navy Federal membership remains active, and you can open new accounts or use other Navy Federal services without any penalty.
If you are closing the account because you are unhappy with the interest rate or fees, you may want to ask the representative about other Navy Federal savings products before you hang up. Navy Federal offers money market accounts and certificates of deposit (CDs) with different rates and terms.
What to do if you cannot reach member services
If you have trouble reaching Navy Federal by phone, you can visit a branch in person if you are near one. Bring your ID and account number, and a branch representative can start the closure process. This is slower than calling, but it guarantees you speak to someone.
Navy Federal also offers secure messaging through their online banking portal. Log in, go to the "Contact Us" section, and send a message requesting account closure. A representative will respond within one business day, though they will likely ask you to call to complete the process.
Frequently Asked Questions
Can I close my savings account if I have a negative balance?
No. If your account is overdrawn, you must bring the balance to zero or positive before Navy Federal will close it. The representative will tell you the amount owed. You can transfer money from another Navy Federal account to cover it, or pay it by debit card or check.
What if I have a Navy Federal debit card linked to this savings account?
The debit card itself is not linked to a specific account — it draws from whichever account you designate in your Navy Federal settings. Closing the savings account will not disable the card. However, if the savings account was your primary account for debit card transactions, update your settings to point to a different account before closure.
Will Navy Federal charge me a fee to close the account?
No. Navy Federal does not charge a fee to close a savings account. However, if you close the account within a certain period of opening it, Navy Federal may charge an early closure fee — check your account agreement or ask the representative.
How long does it take for the account to fully close?
If your balance is transferred to another Navy Federal account, closure usually takes one to three business days. If it is transferred to an external bank, closure takes three to five business days after the transfer arrives. Navy Federal may take longer if there are pending transactions.
Can I reopen the account after I close it?
Yes. You can open a new Navy Federal savings account at any time by calling member services or visiting a branch. The new account will have a different account number. There is no waiting period or penalty for reopening.