Yes, you can close a Chase savings account at any time
You can close a Chase savings account online, by phone, or in person at a branch. There is no penalty for closing, and you can do it whenever you want. Chase will not ask you to keep a minimum balance or explain your reason for leaving. The main thing to handle before you close is making sure any automatic deposits or withdrawals tied to that account are moved elsewhere, and that you withdraw or transfer any remaining balance.
The process itself takes minutes, but the money may take a few business days to reach you depending on how you withdraw it. If you close the account while money is still in it, Chase will send it to you by check or transfer it to another account you specify.
Key Takeaways
- You can close a Chase savings account online through your Chase account, by calling Chase customer service at 1-800-935-9935, or by visiting a Chase branch in person.
- Before closing, redirect any automatic deposits or bill payments that use that account number to a different account or payment method.
- Any money remaining in the account will be sent to you by check or transferred to another bank account you provide, usually within three to five business days.
- Chase does not charge a fee to close a savings account, and you do not need to maintain a minimum balance or provide a reason.
- If you have a linked checking account or other Chase products, closing the savings account will not affect them unless you specifically ask Chase to close those too.
Closing online through your Chase account
Log into your Chase account on the Chase website or mobile app. Go to the account settings or account management section—the exact location varies slightly between the website and app, but both have a settings menu. Find the savings account you want to close and look for an option to close or manage the account.
Chase's online closure tool will ask you to confirm the account and may ask where you want any remaining balance sent. You can choose to have it transferred to another Chase account you own, transferred to an external bank account, or mailed to you as a check. Complete the steps and confirm. You should receive a confirmation email, and the account will close within one to three business days.
Not all Chase accounts can be closed online—if you do not see a close option in your account settings, you will need to call or visit a branch instead.
Closing by phone with Chase customer service
Call Chase customer service at 1-800-935-9935. Have your account number and Social Security number ready. Tell the representative you want to close your savings account. They will confirm the account details, ask where you want the remaining balance sent, and process the closure.
The representative will explain what happens next and when the account will close. They can also answer questions about automatic payments or deposits linked to that account. The call usually takes five to ten minutes. You will receive a confirmation by mail within a few days.
Closing in person at a Chase branch
Visit any Chase branch with a photo ID and your account number. Tell a banker you want to close your savings account. They will pull up your account, confirm the balance, and ask how you want the money handled. You can have it transferred to another account, given to you as a check on the spot, or mailed to you.
If you have a remaining balance and choose to receive it as a check immediately, the banker can print one for you before you leave. If you choose a transfer to another account, it will process within one to three business days. Closing in person is the fastest way to walk out knowing the account is closed.
What to do with automatic payments before you close
Before you close the account, check whether any automatic deposits or withdrawals are tied to it. This includes direct deposit from your employer, automatic bill payments, transfers from other accounts, or recurring subscriptions. Log into your Chase account and review the recent transactions to see what is coming in and going out.
For automatic deposits, contact your employer's payroll department or the organization sending the money and give them a new account number. For automatic bill payments or subscriptions, log into each service and update the payment method to a different account or card. For transfers between your own accounts, update those in your Chase account settings or the other bank's system.
If you close the account before redirecting these payments, deposits will bounce back to the sender and bills may not pay, which can hurt your credit or cause late fees. Taking ten minutes to update these before closing saves you from dealing with that mess later.
What happens to your money when the account closes
Any balance remaining in the account will not disappear. Chase will send it to you using the method you choose during closure. If you pick a transfer to another Chase account you own, it usually arrives within one business day. If you pick a transfer to an external bank account, it takes two to five business days depending on the other bank. If you choose a check, Chase will mail it to your address on file, which takes five to ten business days.
If the account has a negative balance—meaning you owe Chase money—you will need to pay that before closing. Chase will not close an account with an overdraft or fee balance. Pay the amount owed through your Chase account, and then you can proceed with closure.
Frequently Asked Questions
Will closing my Chase savings account affect my checking account?
No. Closing one account does not close any other accounts you have with Chase. Your checking account, credit card, or any other product will remain open and unaffected unless you specifically ask Chase to close those too.
Can I reopen a Chase savings account after I close it?
Yes, you can open a new Chase savings account at any time after closing one. You will go through the normal account opening process. Chase does not permanently block you from having a savings account just because you closed one.
What if I have a pending deposit or withdrawal when I close?
Pending transactions will usually complete before the account closes. If a transaction is still pending when closure happens, Chase will process it and then close the account. If a transaction cannot complete because the account is closed, it will be returned to the sender or declined.
Do I need to close the account in the same way I opened it?
No. You can open an account online and close it by phone, or open it in a branch and close it online. The method you use to close has no connection to how you opened it.
What if I have a Chase savings account linked to a loan or credit card?
Closing the savings account will not affect the loan or credit card. However, if you set up automatic payments from that savings account to pay a Chase loan or card, you will need to update the payment method before closing, or those payments will fail.