The basic steps to close your account
To close a checking account, contact your bank directly by phone, in person, or through their website. Most banks let you start the process online, but you will need to speak to someone to confirm and complete it. Before you call or visit, make sure your account balance is zero — withdraw or transfer any remaining money first, and wait for any pending transactions to clear.
Once you have confirmed the balance is empty, tell the bank you want to close the account. They will ask why (though you do not have to give a detailed reason), confirm your identity, and process the closure. Some banks close accounts immediately; others take a few business days. Ask for written confirmation of the closure and keep it for your records.
If you have automatic payments or direct deposits set to this account, change those before you close it. Payments that arrive after closure may bounce, and direct deposits could be rejected. Update your employer, creditors, and any services that send you money with your new account details first.
Key Takeaways
- Bring your account balance to zero by withdrawing or transferring all money before you contact the bank to close the account.
- Redirect automatic payments and direct deposits to a different account before closure, or they will fail and may trigger fees.
- Contact your bank by phone, in person, or online to request closure, and ask for written confirmation when it is complete.
- Some banks charge a fee if you close an account within a certain period (often three to six months); check your account agreement first.
- After closure, keep your confirmation letter and monitor your credit report to make sure the account is reported as closed by the account holder, not the bank.
What to do with money still in the account
Before you close the account, move or withdraw every dollar. You can transfer the balance to another bank account you own, withdraw it as cash, or request a cashier's check. If you leave money behind, the bank will hold it and you will have to contact them later to retrieve it — this can take weeks and may involve fees.
After you transfer or withdraw the money, wait at least one or two business days before calling to close the account. This gives pending transactions time to post. If a check you wrote clears after you close the account, it may bounce, and you could face overdraft fees or be reported to ChexSystems (a banking history database). If you are waiting for a check to clear, delay the closure until it does.
Stopping automatic payments and direct deposits
Any automatic payment set up on the account — insurance premiums, loan payments, utility bills, subscriptions — will fail once the account closes. Contact each company or service and provide your new account number at least one week before closure. The same applies to direct deposits: tell your employer, benefits administrator, or any other source of regular deposits to switch to your new account.
If you miss updating a payment and it bounces after closure, you may face late fees or service interruptions. The company will not know the account is closed; they will only see a failed transaction. Update everything before you close, not after.
Early closure fees and account agreements
Some banks charge a fee if you close an account within a set period — commonly three to six months after opening. This fee ranges from $25 to $100 depending on the bank. Check your account agreement or call the bank to ask whether a fee applies before you close. If you are within the fee period and want to avoid the charge, you can ask the bank to waive it, though they are not required to do so.
If the bank does charge a fee and your account is already at zero balance, they may deduct it from your linked savings account or send you a bill. Ask how they will collect the fee so you are not surprised by a negative balance or invoice later.
How long closure takes and what happens next
Most banks close an account within one to five business days of your request. Some close it the same day. Ask the bank for a specific timeline when you call. After closure, the account number becomes inactive and cannot receive deposits or payments.
The bank will report the closure to ChexSystems, a database that tracks banking history. Make sure the report shows the account was closed at your request, not closed by the bank due to inactivity or problems. If it shows the bank closed it, that can make it harder to open accounts at other banks. Request written confirmation that you initiated the closure and keep it.
What to do if the bank will not close your account
Rarely, a bank may refuse to close an account if there are unresolved issues — a pending dispute, fraud investigation, or outstanding fees. Ask the bank in writing why they will not close it and what you need to do to resolve the problem. If they still refuse without a clear reason, file a complaint with the Consumer Financial Protection Bureau (CFPB) or your state's banking regulator.
If you simply want to stop using the account but do not need it formally closed, you can leave it open with a zero balance. This avoids any closure fees and keeps the account available if you need it later. However, some banks charge inactivity fees on dormant accounts, so check your agreement first.
Monitoring your credit and banking history after closure
After the account closes, check your credit report a few weeks later to make sure it appears correctly. You can get a free report once per year from AnnualCreditReport.com. The closed account should show a zero balance and a status of "closed by consumer" or similar language.
If the report shows the account was closed by the bank, or if it still shows an active balance, contact the bank to correct it. Errors on your credit report can affect your ability to open new accounts or get loans. Keep your closure confirmation letter so you have proof if you need to dispute the report.
Frequently Asked Questions
Can I close my checking account online?
Some banks let you start the closure process online, but most require you to call or visit in person to complete it. Check your bank's website or call their customer service number to see what options are available. Even if you start online, expect to speak with someone to confirm your identity and finalize the closure.
What happens to checks I wrote before closing the account?
Checks can clear for weeks or even months after you write them. If a check clears after your account is closed, it will bounce and you will face overdraft fees. Wait until you are sure all outstanding checks have cleared before you close the account, or contact the payee to ask them to deposit it sooner.
Do I need to close the account in person or can I do it by phone?
Most banks let you close by phone or online. In-person closure is usually an option but not required. Call your bank's customer service line or log into your online banking portal to see what methods are available. Have your account number and ID ready regardless of which method you choose.
Will closing my account hurt my credit score?
Closing a checking account does not directly affect your credit score because checking accounts do not appear on your credit report. However, if the bank reports the closure incorrectly (as closed by the bank rather than by you), it could make it harder to open accounts elsewhere. Request written confirmation that you initiated the closure.
What if I closed my account and now need to access old statements?
Banks are required to keep records of closed accounts for a set period, usually five to seven years. Contact the bank and request copies of statements from the time you had the account. You may need to provide your old account number and proof of identity. Some banks charge a small fee for copies of old statements.