The basic steps to close your account
To close a bank account, contact your bank directly—by phone, in person, or through their website—and tell them you want to close it. Before you do, make sure any automatic payments or direct deposits tied to that account are moved to another account or cancelled. Pay off any outstanding fees or balances. The bank will process the closure, which usually takes a few business days to a week. If there is money left in the account, the bank will send it to you by check or transfer it to another account you specify.
The exact process varies by bank and account type. Some banks let you start the closure online; others require a phone call or a visit to a branch. If you have a joint account, both account holders usually need to agree to close it. If the account is overdrawn or has unpaid fees, the bank may hold the remaining balance until those are settled.
Key Takeaways
- Contact your bank before closing to redirect any automatic payments, direct deposits, or recurring charges tied to that account.
- Pay any outstanding fees or negative balances so the closure is not delayed by collection holds.
- Ask the bank how they will return any remaining money—by check, transfer, or another method—and confirm the timeline.
- Keep a record of the closure confirmation, including the date and confirmation number, in case you need to dispute a charge later.
- If the account is joint, both owners must consent to the closure in most cases.
Redirect automatic payments and direct deposits first
Before you close the account, identify every payment and deposit connected to it. Log into your account and look for recurring charges—subscriptions, insurance premiums, loan payments, utility bills. Check your employer's payroll system or contact your HR department to confirm where your direct deposit goes. If you have Social Security, disability, or veteran benefits, those are usually set up as direct deposits too.
Update each one to point to your new account. For automatic payments, log into each service (your utility company, insurance provider, loan servicer) and change the bank details. For direct deposit, update your employer's records or the government agency sending the payment. Do this at least one week before you close the account. If you miss one and a payment bounces, you could face overdraft fees or late charges on the original account.
If you are unsure which payments are tied to the account, ask your bank for a statement showing recent transactions. They can also flag recurring charges for you.
Settle any fees or negative balances
Check your account balance and recent statements for any outstanding fees—monthly maintenance fees, overdraft fees, or fees for returned checks. If your balance is negative (you owe the bank money), you must pay that amount before the account can close. If you do not, the bank will hold any remaining funds to cover the debt, and the closure may be delayed.
Some banks will not close an account until the balance is zero or positive. Others will close it but keep the account open in a limited form to collect the debt. Either way, settling it upfront makes the process faster. If you dispute a fee, contact the bank and ask them to review it before you close; once the account is closed, disputing it becomes harder.
Contact your bank and request closure
Call your bank's customer service line, visit a branch in person, or log into your online banking portal to request closure. Have your account number ready. The bank will ask why you are closing (this is optional to answer) and confirm your identity. They will also ask how you want any remaining balance returned—by check mailed to your address, transferred to another account, or picked up in person at a branch.
If you are closing a savings account, checking account, or money market account, the process is usually straightforward. If you are closing a certificate of deposit (CD) before its maturity date, you may face an early withdrawal penalty. Ask the bank what that penalty is before you proceed. If you are closing a joint account, the bank may require both account holders to be present or to sign a closure form.
Request a written confirmation of the closure, including the date it takes effect and a confirmation number. Some banks provide this immediately; others mail it to you within a few days.
Wait for the account to fully close
After you request closure, the bank typically takes three to ten business days to process it. During this time, the account is still active but flagged for closure. Any pending transactions may still post. Once the closure is complete, the bank will send any remaining balance to you and deactivate the account.
If you set up a transfer to another account instead of requesting a check, the money may arrive within one to three business days. If you requested a check, allow five to seven business days for it to arrive in the mail. Do not assume the account is closed until you receive confirmation from the bank and see that the balance is zero.
What to do if the bank refuses to close your account
A bank can refuse to close an account if there is an outstanding balance, an active dispute, or a hold placed by law enforcement or a creditor. If the bank says no, ask them specifically why. If it is a fee or balance issue, pay it and request closure again. If it is a legal hold, you will need to resolve that separately—usually by contacting the agency or creditor that placed the hold.
Some banks also refuse to close accounts that are part of an active fraud investigation. In that case, the bank will tell you when the investigation is expected to conclude and when you can close the account. If the bank is being unreasonable or breaking its own closure policy, you can file a complaint with your state's banking regulator or the Consumer Financial Protection Bureau (CFPB).
Keep records after closure
Save the closure confirmation, the final statement, and any check or transfer receipt for at least one year. If a charge appears on the closed account later—a delayed transaction, a billing error, or fraud—you will need proof that the account was closed to dispute it. Banks sometimes receive transactions after an account closes, and having documentation makes it easier to resolve.
If you closed the account because of fraud or unauthorized charges, keep the records even longer. You may need them if the bank investigates or if you file a dispute with your credit card company or the CFPB.
Frequently Asked Questions
Can I close my bank account online?
Many banks let you start the closure process online, but some require a phone call or in-person visit to complete it. Log into your account and look for a "close account" or "account settings" option. If you do not see one, call the bank's customer service line. The fastest method varies by bank.
What happens to pending transactions after I close my account?
Pending transactions may still post after you request closure. The bank will cover them from your remaining balance or may charge an overdraft fee if the balance is not enough. This is why it is important to wait until all pending transactions have cleared before you close the account, or to keep enough money in it to cover them.
Do I need to close my account in person?
Not always. Many banks allow closure by phone or online. However, if the account is joint, both owners may need to be present or sign a form. If you have a large balance or complex account, the bank may ask you to visit a branch. Call ahead to confirm what your bank requires.
Will closing my bank account hurt my credit score?
Closing a bank account does not directly affect your credit score because banks do not report checking or savings account closures to credit bureaus. However, if you close an account with an outstanding balance and the bank sends it to collections, that can hurt your credit. Pay any balance before you close.
How long does it take to close a bank account?
The request usually takes three to ten business days to process. If you requested a check, add five to seven more days for mail delivery. If you set up a transfer to another account, the money may arrive within one to three business days. The exact timeline depends on your bank and the method you chose for receiving your balance.