Close your account by contacting your bank, paying any outstanding fees, withdrawing or transferring your money, and confirming the closure in writing
The fastest way to close a bank account is to call your bank's customer service line or visit a branch in person. You will need to settle any outstanding balance, transfer or withdraw your funds, and confirm the closure. Most banks process account closures within one to three business days, though some may take up to a week if you have pending transactions.
The exact steps depend on whether you have direct deposits, automatic payments, or a negative balance. If you do not handle these before closing, your bank may reject the closure request or charge you fees for returned transactions.
Key Takeaways
- Contact your bank by phone, in person, or through online banking to request closure; do not simply stop using the account.
- Settle any outstanding balance, overdraft fees, or minimum balance requirements before the bank will close your account.
- Move or withdraw all your money first, then update any direct deposits or automatic payments to a new account or payment method.
- Ask your bank to confirm the closure in writing and keep that confirmation in case disputes arise later.
- Some banks charge a fee to close an account early; check your account agreement or ask before you start the process.
Step 1: Gather your account information and check for outstanding balances
Before you contact your bank, log into your online banking portal or call customer service to review your account. Look for any pending transactions, automatic payments scheduled in the coming weeks, or fees you owe. If your account is overdrawn, you must deposit money to bring it to zero before the bank will close it.
Check your account agreement or ask your bank whether there is an early closure fee. Some banks charge $25 to $50 if you close an account within a certain period (often six months to a year). Knowing this upfront prevents surprises when you submit your closure request.
Step 2: Transfer or withdraw all your money
Move your funds to another account or withdraw them in cash. If you are transferring to a different bank, initiate an external transfer through your current bank's online platform or ask a teller to do it for you. External transfers typically take one to three business days. If you need the money immediately, withdraw it as cash or request a cashier's check.
Do not leave money in the account after you request closure. If a transaction posts after the account closes, the bank may charge you a fee or refuse to process it, and you may have trouble recovering the funds.
Step 3: Redirect direct deposits and automatic payments
Update any employer direct deposits, government benefit payments, or other recurring deposits to your new account or payment method. This usually takes one to two pay cycles to take effect, so make the change at least two weeks before you plan to close the account.
Review all automatic payments—utilities, subscriptions, loan payments, insurance premiums—and update them to your new account or cancel them. If a payment tries to post to your closed account, it will be rejected, and you may face late fees or service interruptions. Contact each biller directly or update the payment information through their website.
Step 4: Contact your bank to request closure
Call your bank's customer service number, visit a branch in person, or use online banking if your bank offers account closure through that channel. Have your account number and identification ready. Tell the representative you want to close your account and confirm that your balance is zero and all automatic payments have been moved.
Some banks require you to close the account in person if it is a savings account or if there are outstanding holds on the account. Ask whether your bank has this requirement before you make a trip to the branch. If you are closing a joint account, both account holders may need to be present or provide written consent.
Step 5: Confirm the closure and keep your records
Ask your bank to send you written confirmation of the closure, including the date it was processed and your final account balance. This confirmation protects you if the bank later claims the account is still open or if a transaction is incorrectly charged to the closed account.
Keep this confirmation letter, your final statement, and any records of automatic payment transfers for at least one year. If you dispute a charge or the bank makes an error after closure, you will need proof that the account was officially closed.
What to do if your bank refuses to close your account
A bank may refuse closure if your account is overdrawn, if you have pending transactions, or if there is an active hold placed by law enforcement or a creditor. Resolve the underlying issue first: deposit money to cover the overdraft, wait for pending transactions to clear, or contact the agency that placed the hold.
If your bank refuses closure without a clear reason, ask to speak with a manager and request the refusal in writing. You can also file a complaint with the Consumer Financial Protection Bureau (CFPB) or your state's banking regulator if you believe the bank is acting unfairly. Provide documentation of your closure request and the bank's response.
Frequently Asked Questions
Can I close my account online or do I have to go to the bank?
Many banks allow online closure through their banking portal or mobile app, but some require a phone call or in-person visit. Check your bank's website or call customer service to see which methods are available. If you have a joint account or outstanding holds, your bank may require you to visit a branch.
What happens to checks I wrote before closing the account?
Checks written on a closed account will be rejected and marked as non-sufficient funds (NSF). Notify anyone you wrote checks to before closure and provide them with your new account information. If a check bounces after closure, you may be charged an NSF fee by both your old bank and the recipient's bank.
How long does it take for a bank account to fully close?
Most banks close accounts within one to three business days after you submit your request. Some may take up to a week if there are pending transactions or holds on the account. Ask your bank for a specific timeline when you request closure.
Will closing my account hurt my credit score?
Closing a checking or savings account does not directly affect your credit score because banks do not report deposit account activity to credit bureaus. However, if you close an account with an outstanding balance or unpaid fees, the bank may send it to collections, which will damage your credit.
What if I closed my account and a payment still tries to post?
The payment will be rejected and returned to the biller as "account closed." You may be charged an NSF or returned item fee by the biller. Contact the biller immediately to provide your new payment information and ask them to resubmit the payment to avoid late fees or service interruptions.