Steps to close your account
Contact your bank directly by phone, in person, or through their website to request account closure. Most banks will ask you to confirm your identity and may ask why you're closing the account — this is routine and doesn't affect your ability to close it. Before you initiate closure, make sure your account balance is zero or that you've arranged to withdraw or transfer any remaining funds.
If your account has a positive balance, the bank will either let you withdraw the money before closing or will mail you a check after the account closes. If your account is overdrawn (you owe the bank money), you must pay the negative balance before closure. Some banks will not close an account with an outstanding balance and will continue charging overdraft fees until you settle it.
After you request closure, the bank will process it within a few business days to two weeks, depending on the institution. You'll receive written confirmation by mail or email. Keep this confirmation for your records — it proves the account is closed and can protect you if the bank later tries to charge fees or if there's a dispute about the closure date.
Key Takeaways
- You must have a zero balance or arrange to withdraw remaining funds before the bank will close your account.
- If your account is overdrawn, you cannot close it until you pay what you owe.
- Contact your bank by phone, in person, or online — all three methods work, though phone is fastest for most people.
- Closure takes three to fourteen business days, and you should receive written confirmation by mail or email.
- Stop using the account immediately after requesting closure to avoid accidental overdrafts or declined transactions.
What to do with automatic payments and direct deposits before closing
Review your account for any recurring charges, subscriptions, or automatic bill payments linked to the checking account. Contact each company or service to update your payment method — give them your new account number if you're switching banks, or remove the account entirely if you're not. This step is critical because if a payment tries to process after closure, it will be declined and may trigger late fees or service interruptions.
If you receive direct deposit paychecks or government payments (tax refunds, Social Security, unemployment benefits) to this account, contact your employer or the relevant agency to update your banking information. For federal payments like tax refunds or stimulus checks, you may need to file a form or update your information through an online portal. Do this before you close the account, because payments sent to a closed account will be returned and may delay your money.
Make a list of every automatic transaction tied to the account — subscriptions, insurance premiums, loan payments, utility bills, gym memberships. Go through your last three months of statements to catch anything you might have forgotten. This takes an hour but prevents the frustration of a declined payment or a service being shut off.
Transferring money to a new account
If you're moving to a different bank, you can transfer your balance before closing. Most banks allow you to initiate an external transfer through their website or mobile app by entering the receiving bank's routing number and your new account number. The transfer typically takes three to five business days. Alternatively, you can withdraw the money as cash or a cashier's check and deposit it into your new account immediately.
If the amount is large, a cashier's check is safer than carrying cash. Ask the teller at your current bank to issue one payable to you, then deposit it at your new bank. This creates a paper trail and protects you if the money is lost or stolen. Keep the receipt from both the withdrawal and the deposit.
Some banks offer a service where they help you move recurring payments to your new account as part of the closure process. Ask your bank if this is available — it saves you the work of contacting each company individually. However, you're still responsible for verifying that all payments switched correctly, so check your new account's first few statements.
Handling outstanding checks and pending transactions
Before you close the account, wait for any checks you've written to clear. If you close the account while checks are still pending, they may bounce when they arrive, and you could face overdraft fees or legal trouble if the checks were for significant amounts. Ask your bank how long they typically hold checks — most clear within five to seven business days, though some take longer.
If you've written a check that hasn't cleared yet and you're closing the account, contact the recipient and ask them to hold it or request a different payment method. If that's not possible, keep the account open until the check clears, or ask your bank if they can honor the check even after closure (some banks will do this for a short window).
Pending transactions — charges that have been authorized but not yet deducted — will still process against a closed account. This can cause overdraft fees. If you see pending transactions when you request closure, wait for them to clear or contact the merchant to cancel them before you close.
What happens to your account history after closure
Your bank will keep records of your closed account for a set period, usually five to seven years, though this varies by institution. You can request statements or transaction history from your bank even after the account is closed. This is important if you need documentation for taxes, disputes, or legal matters.
Before you close the account, download or print copies of your statements for at least the past year. This gives you a backup in case you need to reference transactions later. Some banks charge a fee to retrieve old statements after an account is closed, so getting them beforehand is easier.
Your closed account will eventually stop appearing on your credit report, but it may remain visible for a short time after closure. This does not hurt your credit score — closed accounts in good standing are neutral or slightly positive for your credit history.
Closing an account with a negative balance or debt
If your account is overdrawn, the bank will not close it until you pay the negative balance. The amount owed includes the overdraft itself plus any overdraft fees the bank has charged. Contact your bank to find out the exact amount and your options for payment.
You can pay the debt by transferring money from another account, making a payment online, or going to a branch in person. Some banks will set up a payment plan if the amount is large, though this is less common. Once you've paid the full amount, the account balance will be zero and you can request closure.
If you ignore an overdrawn account, the bank may close it on their own after a period of time (usually 60 to 90 days), but you will still owe the debt. The bank may send the account to a collection agency, which will damage your credit and may result in legal action. It's always better to contact the bank and settle the debt yourself.
Frequently Asked Questions
Can I close my account online, or do I have to go to the bank in person?
Most banks let you close an account by phone or through their website or mobile app. Going in person works too, but it's not necessary. Call your bank's customer service number or log into your online banking to see if closure is an option. If the website doesn't offer it, a phone call is usually the fastest route.
What if I close my account and then a check I wrote bounces?
The check will be returned unpaid, and the person or business who received it may charge you a returned check fee. You're responsible for paying the amount of the check plus any fees. Contact the recipient immediately to arrange payment and explain the situation. To avoid this, wait for all outstanding checks to clear before closing.
Will closing my checking account hurt my credit score?
No. Closing a checking account does not affect your credit score because checking accounts are not reported to credit bureaus. Only credit products like credit cards, loans, and lines of credit impact your credit. You can close a checking account without any credit consequences.
How long does it take for a closed account to stop showing up on my bank statements?
Once the account is closed, it will no longer appear in your active accounts list. However, it may show in your account history for several months or longer. Your bank keeps records for years, so you can always request statements from a closed account if you need them for reference or documentation.
What if my bank won't close my account?
Banks rarely refuse to close an account, but if yours does, ask why in writing and request the reason in writing as well. The most common reason is an outstanding balance or pending transactions. If there's no legitimate reason, contact your state's banking regulator or the Consumer Financial Protection Bureau (CFPB) to file a complaint. You have the right to close your account.