Call PenFed's member service line to start the closure

PenFed does not let you close a checking account online or through their mobile app. You must call PenFed Member Services at 1-800-PEN-FEDS (1-800-736-3337) to request closure. Have your account number ready when you call. Member Services is open Monday through Friday, 8 a.m. to 8 p.m. Eastern time, and Saturday 9 a.m. to 3 p.m. Eastern time.

When you call, tell the representative you want to close your checking account. They will confirm your identity, review any outstanding transactions or pending deposits, and walk you through what happens next. If you have a balance in the account, ask whether PenFed will mail you a check or transfer the funds to another account you provide.

The representative will also ask whether you want to close just the checking account or your entire PenFed membership. You can close the account alone and keep other products like savings accounts or credit cards open. If you close your membership entirely, all accounts will be closed.

Key Takeaways

  • PenFed requires a phone call to close a checking account; you cannot do it online or through the app.
  • Call 1-800-PEN-FEDS (1-800-736-3337) during business hours and have your account number available.
  • Ask how PenFed will return any remaining balance—by check or transfer to another bank.
  • Closing your checking account does not automatically close your PenFed membership or other accounts unless you request it.
  • Allow up to 5 to 10 business days for the account to fully close after you call.

What to do with your remaining balance

Before you call to close the account, check your current balance and decide how you want to receive it. PenFed will not keep the money; they must return it to you. The two most common options are a mailed check or a transfer to another bank account you own.

If you choose a check, ask the representative how long it typically takes to arrive. PenFed usually mails checks within 5 to 10 business days after closure, but delivery time depends on your location. If you need the money faster, request a transfer to another checking or savings account instead. Transfers between banks can take 1 to 3 business days.

If you have automatic bill payments or direct deposits set up on the PenFed account, those will stop working once the account closes. Update your billers and your employer with your new account information before the closure is complete, or your payments and deposits will fail.

Stop using the account and settle any pending activity

Once you call to request closure, stop using the PenFed debit card and checks immediately. Any transactions you make after requesting closure may still post to the account and delay the final closure date. If you have pending transactions—checks you wrote that have not cleared, or charges that have not posted yet—the account will stay open until those clear.

Ask the representative whether there are any pending items on the account. If there are, find out when they are expected to clear. This is especially important if you wrote checks that have not been deposited yet; the account must remain open long enough for those checks to clear.

If you have a PenFed debit card, you can cut it up or dispose of it once the account is closed. PenFed will deactivate it on their end, but physically destroying the card prevents accidental use.

Confirm the closure timeline and get a confirmation number

Before you hang up, ask the representative for a confirmation number or reference number for your closure request. Write this down along with the date and time of your call. This gives you proof that you requested closure if there are any questions later.

Ask the representative when you can expect the account to be fully closed. Most PenFed checking accounts close within 5 to 10 business days, but this can vary depending on whether there are pending transactions or if you requested a check to be mailed. If you requested a transfer to another bank, the closure may happen faster.

The representative should also tell you whether your PenFed membership remains active. If you closed only the checking account, your membership stays open and you can use other PenFed products. If you closed your entire membership, you will lose access to all PenFed accounts and services.

Verify the closure in your account

A few days after your call, log into your PenFed online banking or mobile app to confirm the account is no longer visible. If the account still appears, contact Member Services again to check on the status. Sometimes there is a delay between when the closure is processed and when it disappears from your online view.

If you requested a check, watch your mail for it to arrive. If you requested a transfer, check your other bank account to confirm the deposit posted. If neither arrives within the timeframe the representative gave you, call PenFed again with your confirmation number to track it down.

Keep any confirmation emails or documentation PenFed sends you about the closure. If you ever need to prove the account was closed on a certain date—for tax purposes, fraud investigation, or other reasons—you will have a record.

What happens if you cannot reach PenFed by phone

If you have trouble reaching Member Services by phone, you can also send a written request to close your account. Send a letter to PenFed's mailing address (available on their website) that includes your name, account number, and a clear statement that you want to close your checking account. Include your current contact information so they can reach you if they have questions.

Written closure requests take longer than phone calls—usually 2 to 3 weeks instead of a few days. If you need the account closed quickly, the phone line is faster. If you are outside the United States or have difficulty using the phone, a written request is a valid alternative.

You can also visit a PenFed branch in person if there is one near you. Not all locations handle account closures, so call ahead to confirm. Closing in person can sometimes be faster than calling, and you can ask questions face-to-face.

Frequently Asked Questions

Will closing my PenFed checking account affect my credit score?

No. Closing a checking account does not appear on your credit report and does not affect your credit score. Credit scores are based on credit accounts like credit cards and loans, not deposit accounts. You can close your PenFed checking account without any impact to your credit.

Can I reopen my PenFed checking account after I close it?

Yes, you can open a new PenFed checking account after closure if you still meet their membership requirements. You will need to go through the full account opening process again, which includes providing identification and initial funding. There is no waiting period, but you will be treated as a new account holder.

What if I have a negative balance when I try to close?

PenFed will not close the account if there is an outstanding balance owed. You must pay the negative balance first. Call Member Services to find out the exact amount owed, then make a payment by phone, online, or at a branch. Once the balance is paid, you can request closure again.

Do I need to close my PenFed membership if I only want to close the checking account?

No. You can close just the checking account and keep your PenFed membership active. This is useful if you have other PenFed products like a savings account or credit card that you want to keep. Tell the representative you want to close the checking account only, not your entire membership.

How long does it take to get my money back after I close the account?

If you requested a check, allow 5 to 10 business days for it to arrive by mail, plus delivery time. If you requested a transfer to another bank, the funds should appear in 1 to 3 business days. Ask the representative for a specific timeline when you call, as it can vary.