How to cancel your Credit Karma savings account
You can close your Credit Karma savings account through the Credit Karma website or mobile app in a few minutes. Log in, go to your savings account settings, and select the option to close the account. Credit Karma will walk you through the steps, which include confirming your identity and choosing where to send any remaining balance. The account closes immediately after you confirm, though it may take a few business days for any pending transfers to complete.
Before you close, make sure you know your account balance and have a destination account ready — usually a checking or savings account at your bank. Credit Karma will not hold your money; they will transfer it to wherever you direct them. If you have pending deposits or transfers, those will finish processing before the account fully closes.
Key Takeaways
- Close your account through the Credit Karma app or website by navigating to account settings and selecting the close account option.
- You must provide a destination account — typically a checking or savings account at another bank — to receive your remaining balance.
- The account closes right away, but transfers of your money may take three to five business days to arrive at your destination account.
- If you have automatic deposits or transfers set up, cancel those before closing the account to avoid confusion.
- Credit Karma will send you a confirmation email once the account is closed; keep this for your records.
Steps to close the account through the app
Open the Credit Karma app and log in with your username and password. Tap the menu icon (usually three horizontal lines) and look for "Savings" or "Account Settings." Select your savings account from the list of linked accounts.
Scroll down to find the option labeled "Close Account" or "Manage Account." Tap it. Credit Karma will ask you to confirm your identity — this may involve answering security questions or verifying your phone number. Answer these prompts as they appear.
Next, you will see a screen asking where you want your remaining balance sent. Enter the routing number and account number for the bank account where you want the money to go. Double-check these numbers; an error will delay your transfer. Confirm the closure, and the app will show you a completion screen with a reference number. Take a screenshot or note this number in case you need to contact Credit Karma later.
Closing through the website
Go to creditkarma.com and sign in. Click on "Savings" in the left menu or dashboard. Find your savings account and click on it to open the account details page.
Look for a settings icon (usually a gear symbol) or a menu with three dots. Click it and select "Close Account." You will be asked to verify your identity using the same methods as the app — security questions, phone verification, or email confirmation. Complete these steps as prompted.
Enter the routing and account number for where you want your money sent. Verify the information is correct before submitting. The website will show you a confirmation page with a reference number. Write this down or take a screenshot.
What happens to your money during closure
Any balance in your Credit Karma savings account will be transferred to the bank account you specify. This transfer usually takes three to five business days. If you close the account on a Friday or before a holiday, the transfer may take longer because banks process transfers on business days only.
If you have pending deposits — for example, a direct deposit that has not yet posted — those will still go through. The money will land in your Credit Karma account first, then transfer to your destination account as part of the closure process. If you have automatic transfers set up (like a weekly sweep to savings), cancel those before you close the account to avoid confusion.
Canceling automatic deposits and transfers first
Before you close the account, turn off any automatic deposits or transfers linked to it. Log into Credit Karma and go to your savings account settings. Look for "Transfers," "Deposits," or "Linked Accounts." You should see a list of any automatic activity tied to this account.
Click on each one and select "Cancel" or "Turn Off." Confirm the cancellation. This prevents money from trying to go into an account that no longer exists, which can cause delays or errors. Once all automatic activity is stopped, you can proceed with closing the account.
If the closure does not go through
Occasionally the closure process stalls — usually because of a mismatch in the destination account information or a temporary system issue. If you see an error message, note the exact wording and try again in a few minutes. If the same error appears, take a screenshot and contact Credit Karma support.
You can reach Credit Karma through the app (look for "Help" or "Contact Us" in the menu) or through their website. They offer chat support during business hours and email support anytime. Explain that you are trying to close your savings account and describe the error you saw. They can often fix the problem on the spot or walk you through an alternative closure method.
What to do if you do not receive your money
If five to seven business days have passed and the transfer has not arrived at your destination account, log back into Credit Karma if you still have access. Check whether the account shows as closed and whether a transfer was initiated. Note the reference number from your closure confirmation.
Contact Credit Karma support with this reference number and the date you closed the account. Tell them the destination account where the money should have gone and ask them to trace the transfer. They can check whether the money left their system and where it is now. If there was an error in the account number you provided, they may be able to recover the funds or reroute them.
If Credit Karma cannot locate the transfer, ask them to confirm the account closure in writing and request documentation of the transfer attempt. Keep this for your records. In rare cases, you may need to contact your bank directly to see if the transfer arrived under a different name or date than expected.
Frequently Asked Questions
Can I reopen my Credit Karma savings account after closing it?
You can create a new Credit Karma savings account, but it will be treated as a fresh account with a new account number. You cannot reopen the exact same account. If you think you might want to use it again, consider pausing automatic activity instead of closing it entirely.
What if I have a pending deposit when I close the account?
Pending deposits will still post to your Credit Karma account before it closes. The money will then transfer to your destination account as part of the closure process. This may add a few days to the total time it takes to receive your funds.
Do I need to close the account if I just want to unlink it from Credit Karma?
No. Unlinking removes the account from Credit Karma's view but leaves the actual savings account open at the bank. If you only want to stop using Credit Karma to monitor the account, look for an "Unlink" option instead of "Close Account." The account will continue to exist at the bank.
Will closing my Credit Karma savings account affect my credit score?
No. Closing a savings account does not impact your credit score because savings accounts do not appear on your credit report. Only credit accounts like credit cards, loans, and lines of credit affect your score.
What if I entered the wrong bank account number?
Contact Credit Karma support immediately with your closure reference number. If the transfer has not yet left their system, they may be able to correct it. If the money has already transferred to the wrong account, Credit Karma can provide documentation to help you trace it, but you may need to contact that bank to recover the funds.