The basic steps to close a bank 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 the account. Before you do, make sure any automatic payments or direct deposits tied to that account are moved to another bank account or stopped. The bank will verify your identity, confirm the account has no outstanding holds or pending transactions, and then close it. Most banks complete this within a few business days, though some take up to a week.
You do not have to give a reason for closing, and banks cannot force you to keep an account open. However, they will ask what you plan to do with any remaining balance. If there is money left, the bank can send it to you by check, transfer it to another account you name, or hold it for you to pick up in person. If the account is overdrawn—meaning you owe the bank money—you must pay that balance before closing, or the bank will pursue collection.
The timing matters. If you have pending transactions, scheduled bill payments, or automatic deposits heading to that account, closing it too quickly can cause checks to bounce, payments to fail, or paychecks to land nowhere. Plan to close only after you have redirected all incoming and outgoing money.
Key Takeaways
- Contact your bank by phone, in person, or online to request closure, and have your account number and ID ready.
- Stop or redirect all automatic payments, direct deposits, and scheduled transfers before you close the account.
- Withdraw or transfer any remaining balance, or ask the bank to send it by check or move it to another account.
- Pay any overdraft balance or outstanding fees before closure, or the bank will collect the debt after the account closes.
- Closing usually takes three to seven business days, so plan ahead if you need the account open for incoming money.
Redirect automatic payments and direct deposits first
Before you close the account, find every automatic payment and direct deposit connected to it. Log into your bank's website or app and look for a section called "Transfers," "Payments," "Settings," or "Account Management." Write down the date, amount, and recipient of each recurring payment. Common ones include utilities, insurance, subscriptions, loan payments, and rent.
For each automatic payment, log into the biller's website or call them directly and update your payment method to your new bank account. Do this at least one week before you close the old account, so the biller has time to process the change. For direct deposits—such as paychecks or government benefits—contact your employer's payroll department or the agency sending the money and provide them with your new account number and routing number. This change can take one to two pay cycles to take effect, so do it as soon as you know you are closing the account.
If you miss a payment because the old account closed, you may face late fees or damage to your credit. If a direct deposit bounces because the account no longer exists, the money may be returned to the sender, and you will have to contact them to resend it. The safest approach is to keep the old account open for at least one full billing cycle after you have redirected everything, just to catch any stragglers.
Withdraw or transfer your remaining balance
Once you have stopped all automatic activity, move any money left in the account. You can withdraw cash at an ATM or teller, transfer it to your new bank account online, or ask the bank to send you a check. If you transfer to another account, the money usually arrives within one to three business days. If you request a check, ask the bank how long it takes to mail and plan accordingly.
Some banks charge a fee to close an account if you close it within a certain time frame—often 90 days to six months of opening it. Check your account agreement or ask the bank whether a closure fee applies. If it does, the bank will deduct it from your remaining balance or charge it to your new account if you have linked one. If the fee would overdraw your account, ask whether you can pay it separately or if the bank will waive it.
If the account is a joint account—meaning someone else has access to it—both account holders usually have to agree to close it. Some banks require both people to be present or to sign a closure form. If you and the other person disagree about closing, you may need to remove yourself from the account instead, which leaves it open for the other person to use.
Handle an overdrawn account or outstanding fees
If your account is overdrawn—you owe the bank money—you must pay the negative balance before the bank will close it. The bank will tell you the exact amount owed when you request closure. You can pay by transferring money from another account, bringing cash to a branch, or writing a check from another account. Once you pay, the bank will close the account.
If you do not pay an overdraft before closing, the bank will not close the account and will continue to charge overdraft fees until the balance is paid. After a certain period—usually 60 to 90 days—the bank may send the debt to a collection agency, which can damage your credit and pursue you for payment. Some banks will close an account with an outstanding balance and refer it to collections immediately, so it is better to settle it yourself.
Outstanding fees—such as monthly maintenance fees, wire transfer fees, or returned-check fees—are also your responsibility. The bank will deduct these from your remaining balance if you have one, or add them to what you owe if the account is overdrawn. Ask the bank for an itemized list of all fees charged in the past 30 days so you know exactly what you are paying.
Close the account in person, by phone, or online
You can close most accounts by calling the bank's customer service number, visiting a branch in person, or using the bank's website or mobile app. Calling is often fastest—you can usually complete it in 10 to 15 minutes. In-person closure at a branch takes longer but lets you withdraw cash and handle the transfer face-to-face. Online closure through the app or website is convenient but may not be available for all account types.
When you contact the bank, have your account number, Social Security number, and photo ID ready. The bank will verify your identity and ask you to confirm the account closure. Some banks will ask why you are closing—this is optional to answer, but if you mention a problem with the bank, they may offer to fix it instead. Once you confirm, the bank will process the closure and send you a confirmation email or letter.
If the account has a negative balance or holds on it, the bank may not close it immediately. They will tell you what needs to be resolved first. If there is a dispute or fraud claim pending on the account, closure may be delayed until the investigation is complete.
What happens after the account closes
Once the account is closed, you cannot use it to make deposits, withdrawals, or transfers. Any checks you wrote from that account will bounce if they have not cleared yet. If someone tries to deposit a check to a closed account, the bank will return it to the sender. Make sure you have stopped using checks from the old account at least two weeks before closure.
The bank will keep records of the closed account for a set period—usually five to seven years—in case you need a statement or proof of a past transaction. You can request old statements online or by contacting the bank. If you need to dispute a transaction that occurred before closure, you have a limited time window—usually 60 days from when you first notice the error—so act quickly if something looks wrong.
Closing an account does not affect your credit score directly, but if you close it because of an overdraft or unpaid fees that go to collections, that will hurt your credit. If you are closing a credit card account, closing it can raise your credit utilization ratio on other cards, which may lower your score slightly. Closing a checking or savings account has no impact on credit.
Frequently Asked Questions
Can I close my account if there is still money in it?
Yes. The bank will ask what you want to do with the balance—you can withdraw it as cash, transfer it to another account, or have the bank mail you a check. The account will not close until the balance is zero or you have arranged for the money to go somewhere else.
What if I close my account and then a check I wrote clears?
The check will bounce, and the person who wrote it will be charged a returned-check fee by their bank. You may also face a fee from your old bank for the returned item. This is why you should wait at least two weeks after closure before assuming all old checks have cleared.
Do I need to close my account in person?
No. Most banks let you close by phone or online. In-person closure is useful if you want to withdraw large amounts of cash or if the bank requires both signers on a joint account to be present, but it is not required for most accounts.
Will closing my account hurt my credit?
Closing a checking or savings account does not affect your credit score. Closing a credit card account can slightly lower your score if it raises your credit utilization on other cards, but the impact is usually small and temporary.
How long does it take to close an account?
Most banks close accounts within three to seven business days after you request closure. Some complete it the same day. If there are pending transactions, holds, or disputes, closure may take longer. The bank will give you a timeline when you request closure.