You can close a Chime savings account through the app or by calling customer service, and the process takes a few minutes
Chime lets you close a savings account directly in the mobile app without visiting a branch or mailing anything. Open the app, go to your savings account settings, and select the option to close the account. Chime will transfer any remaining balance to your linked checking account or debit card within one to three business days. If you prefer to speak to someone, you can call Chime customer service at the number on the back of your card and request closure over the phone.
Before you close, make sure your account balance is what you expect it to be. Chime does not charge a fee to close a savings account, but any pending transactions or holds may still process after closure. If you have automatic transfers set up to feed money into the savings account, cancel those first so you do not accidentally send money to an account that no longer exists.
Key Takeaways
- Close your Chime savings account through the app by navigating to account settings and selecting the close account option, or call customer service to request closure over the phone.
- Any money in the account will transfer to your Chime checking account or linked debit card within one to three business days at no cost.
- Cancel any automatic transfers or recurring deposits to the savings account before closing to avoid sending money to a closed account.
- Chime does not charge a fee to close a savings account, but check your balance first to make sure you are not leaving money behind.
Closing through the Chime app
Open the Chime app and tap on your savings account. Scroll down to find the account settings or menu option—this is usually at the bottom of the account details screen. Look for a "Close Account" or "Manage Account" button. Tap it and confirm that you want to close the account. Chime will ask you to verify your choice, usually by tapping a confirmation button or entering your PIN.
Once you confirm, the account closure is immediate in the app, but the actual process takes a day or two to complete on Chime's end. Your remaining balance will move to your primary Chime checking account or to a linked external bank account, depending on what you have set up. You will receive a confirmation message in the app and an email to the address on file.
Closing by phone with customer service
Call the number on the back of your Chime debit card to reach customer service. Tell the representative you want to close your savings account. They will verify your identity by asking for your name, the last four digits of your Social Security number, or other account details. Once verified, they will process the closure and confirm the account is closed.
When you close by phone, ask the representative where your remaining balance will be sent. If you have not specified a transfer destination, they will typically send it to your Chime checking account. Get a confirmation number for your records before you hang up.
What happens to your money
Any balance in your savings account will transfer automatically once the closure is complete. The transfer goes to your linked Chime checking account by default. If you want the money to go to a different bank account instead, tell the customer service representative before they process the closure, or change your linked account in the app settings before you close.
The transfer usually takes one to three business days. During that time, the savings account will no longer be visible in your app, but the money is still moving. If you do not see the funds arrive within three business days, contact Chime customer service with your confirmation number.
Canceling automatic transfers before closure
If you have set up recurring transfers from your checking account to your savings account—for example, a weekly deposit—cancel those before you close the account. Go to the transfer settings in the Chime app, find the recurring transfer, and delete it. This prevents money from being sent to an account that no longer exists, which can cause the transfer to fail or bounce back.
Check your account for any automatic deposits or payroll direct deposits that might be going to the savings account as well. If your employer or another service is sending money there, update those settings to point to your checking account instead. Chime will not automatically redirect these payments after closure.
Reasons to close and alternatives
People close Chime savings accounts for different reasons: they may want to consolidate accounts, switch to a different bank, or simply not use the savings feature. If you are closing because you are unhappy with the interest rate or features, know that Chime's savings account rates and terms do not change often, so switching banks may not help much unless you are comparing to a high-yield savings account at another institution.
If you want to keep your Chime checking account but do not need the savings account, you can just leave it open and unused. There is no monthly fee for an inactive savings account, so closure is optional. However, if you are closing your entire Chime account—both checking and savings—you will need to follow a separate process for the checking account.
What to do if you cannot close in the app
If the close account button does not appear in your app, or if you get an error message, the most common reason is that your account has a pending transaction or hold. Wait a day or two for pending items to clear, then try again. If the problem persists, call Chime customer service and they can close the account for you over the phone.
Another reason closure might be blocked is if your account is linked to an active Chime credit product or if there is a dispute or investigation on your account. Customer service can tell you what is preventing closure and what you need to do to move forward.
Frequently Asked Questions
Does Chime charge a fee to close a savings account?
No. Chime does not charge any fee to close a savings account. The closure is free, and transferring your remaining balance is also free.
How long does it take for my money to arrive after I close?
One to three business days. The account closes immediately in the app, but the actual transfer of funds takes a few days to process. If your money has not arrived within three business days, contact Chime customer service.
Can I reopen a Chime savings account after closing it?
Yes. You can open a new Chime savings account at any time through the app. There is no waiting period or penalty for reopening.
What if I close my account but still have pending transactions?
Pending transactions may still process after closure. The funds will come out of your Chime checking account or the account where your balance was transferred. Make sure you have enough money in that account to cover any pending charges.
Can I close my savings account but keep my Chime checking account?
Yes. You can close just the savings account and keep your checking account open. They are separate accounts, so closing one does not affect the other.