How to close a teen checking account
To close a teen checking account, contact the bank by phone, visit a branch in person, or use the bank's online portal if that option is available. Most banks require the account holder (the teen) or a parent or guardian to request the closure. The bank will freeze the account, process any pending transactions, and return remaining funds to you—usually within three to five business days, though some banks take up to ten. Before you close, make sure any automatic payments or direct deposits linked to the account have been moved elsewhere.
The exact process depends on the bank and whether the account is in the teen's name alone or jointly with a parent. Some banks let you close online; others require a phone call or a trip to the branch. A few banks charge a fee if you close within a certain window (often six months to a year), so check your account agreement first.
Key Takeaways
- Contact your bank by phone, in person, or online to request closure; the teen or a parent can usually initiate it.
- Redirect any automatic payments, subscriptions, or direct deposits to a different account before closing.
- The bank will return remaining funds within three to ten business days depending on the institution.
- Some banks charge an early closure fee if you close within a set period; review your account terms before requesting closure.
- If the account is joint, both the teen and parent may need to consent, or the parent may be able to close it unilaterally depending on the bank's rules.
Steps to close the account
Start by gathering the account number and any identification you'll need. Call the bank's customer service line, visit a branch with the teen and any required ID, or log into the online banking portal and look for account settings or a "close account" option. Not all banks offer online closure, so phone or in-person may be your only choice.
When you contact the bank, tell them you want to close the account and ask whether any fees apply. Ask how long it will take for remaining funds to be returned and whether they need a forwarding address or account number for the refund. Some banks send a check; others can transfer the balance to another account you specify. Confirm the final balance and whether any pending transactions are still processing.
After closure is confirmed, the bank will send a written confirmation by mail or email. Keep this for your records. If the account had a debit card, it will stop working immediately, so make sure the teen knows not to attempt any purchases after closure is requested.
What to do before closing
Review the account for any recurring charges or subscriptions tied to the card or account number. Apps, streaming services, online retailers, and other vendors may have the card on file. Update or remove the card from each service before closure, or the charges will be declined and may trigger late fees or service interruptions.
Check for any automatic bill payments or transfers set up through the account. If the teen receives a paycheck via direct deposit, contact their employer or payroll provider to change the deposit account. If the account receives regular transfers from a parent's account, update that arrangement. Any pending transactions—checks written but not yet cleared, pending online purchases, or transfers in progress—should be allowed to complete before closure, or you risk overdraft fees or failed transactions.
If the account is joint, confirm with the bank whether both the teen and parent must consent to closure or whether one party can close it alone. Some banks treat joint accounts as requiring both signatures; others allow either party to close. Ask this question before you call to close, so you know what to expect.
Early closure fees and account terms
Many banks that offer teen accounts charge a fee if you close within a certain period—commonly six months to one year. This fee is usually between $25 and $50, though it varies by bank. Check your account agreement or call customer service to find out whether a fee applies and how much it is.
If a fee does apply and you're within the window, you have two choices: pay the fee and close now, or wait until the fee period expires. If you're closing because the teen is moving to an adult account at the same bank, ask whether the bank will waive the fee as part of an account upgrade. Some banks do; others do not. It never hurts to ask.
Where the remaining balance goes
When you close the account, any money left in it will be returned to you. The bank can send a check to the address on file, transfer the funds to another account at the same bank, or (at some banks) transfer to an account at a different bank if you provide the routing and account numbers.
Ask the bank which option is fastest. A transfer to another account at the same bank usually clears within one business day. A check takes three to seven business days to arrive and clear. An external transfer to a different bank may take three to five business days. If you need the money quickly, choose the fastest method available.
If the account has a very small balance—under $10 or $25—some banks may close it without returning funds, or may hold the balance for a set period before sending it. Ask about the minimum balance threshold when you request closure.
Closing a joint account when the teen turns 18
When a teen turns 18, they may want to move to an adult account or take over an existing account in their name alone. If the account is currently joint with a parent, you have two paths: close the teen account and open a new adult account, or convert the existing account to an adult product.
Conversion is usually simpler and faster than closure and reopening. Ask the bank whether they offer a conversion option for their teen accounts. If they do, the teen can often do this online or by visiting a branch with ID. The account number usually stays the same, and there's no gap in service. If conversion isn't available, close the teen account and open an adult account in the teen's name alone.
If the account is joint and the parent wants to keep it open while the teen closes their access, that's also possible at most banks. The parent can request that the teen's name be removed from the account, leaving it in the parent's name only. This is different from closure and doesn't affect the parent's access or the account balance.
What to do if the bank won't close the account
Occasionally a bank will refuse to close an account if there's a negative balance (the account owes money), if there are pending disputes or fraud investigations, or if there are legal holds on the account. If this happens, ask the bank to explain why in writing and what you need to do to resolve it.
If the account is overdrawn, you'll need to deposit enough to bring it to zero or positive before closure. If there's a dispute or investigation, the bank will tell you how long it typically takes to resolve and whether you can close after that. If there's a legal hold, you may need a court order or the consent of the party that placed the hold.
If the bank continues to refuse closure without a clear reason, file a complaint with the Consumer Financial Protection Bureau (CFPB) or your state's banking regulator. Include copies of your closure request and the bank's responses. These agencies can investigate and push the bank to close the account or explain the legal reason for the refusal.
Frequently Asked Questions
Can a teen close their own account without a parent?
It depends on the bank and whether the account is in the teen's name alone or joint with a parent. If the account is joint, most banks require the parent's consent. If it's in the teen's name only, the teen may be able to close it, but many banks still require a parent to authorize closure for minors under 18. Call the bank and ask what they require.
What happens to pending transactions when I close the account?
Pending transactions—checks, online purchases, or transfers in progress—may still process after closure if they were already submitted before the account was closed. The bank will usually honor these and deduct them from the final balance. If a transaction tries to post after the account is closed and there are no funds, it will be declined. Ask the bank how long pending items typically take to clear before you request closure.
Do I need to destroy the debit card when I close the account?
The card will stop working immediately once the account is closed, so it's not a security risk to leave it as is. However, it's good practice to cut it up or shred it to avoid confusion. Some banks ask you to return the card, but most do not. Check your closure confirmation to see if the bank has any instructions.
Can I reopen a teen account after I close it?
Yes, you can open a new teen account at any time, but it will be a separate account with a new account number. Any early closure fee you paid won't be refunded. If you're closing because of a fee or a service issue, consider whether the problem will be solved by reopening, or whether switching to a different bank's teen account makes more sense.
What if the teen account is at a credit union instead of a bank?
The process is similar: contact the credit union by phone, in person, or online to request closure. Credit unions often have fewer branches, so phone closure may be your best option. Ask about early closure fees, how long the refund takes, and whether they can transfer the balance to another account. The same rules about pending transactions and automatic payments apply.