How 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 linked to that account are moved to another account or cancelled. The bank will freeze the account, process any pending transactions, and send you a final statement. If you have a balance, they'll send you a check or transfer the money to another account you specify.
The whole process usually takes a few days to two weeks, depending on whether there are outstanding checks or pending deposits. The key is to move your money and payments out first, then notify the bank—not the other way around.
Key Takeaways
- Stop all automatic payments and direct deposits before you close the account, or they will fail and may trigger overdraft fees.
- Contact your bank by phone, in person, or online to request closure—do not simply stop using the account.
- The bank will send you a final statement and return any remaining balance by check or transfer within a few business days.
- If you have outstanding checks or pending deposits, closure may take longer because the bank must wait for those to clear.
- Closing an account does not affect your credit score, but leaving it open unused may result in inactivity fees.
Stop automatic payments and direct deposits first
Before you contact the bank, identify every payment and deposit tied to the account. Log into your online banking or review your last three months of statements to find recurring charges—subscriptions, insurance premiums, loan payments, utility bills, gym memberships—and deposits like paychecks or government benefits.
For each automatic payment, log into the biller's website or call them directly and update your payment method to a different account or cancel the service. Do the same for direct deposits: contact your employer's payroll department or the government agency sending the deposit and provide your new account number. Do not rely on the bank to notify these parties; they will not, and missed payments can damage your credit or cause service interruptions.
Once you have moved or cancelled everything, wait at least one full billing cycle to make sure no stray charges appear. Then close the account.
Contact your bank to request closure
Call your bank's customer service number, visit a branch in person, or log into your online banking portal and look for an account closure option. Some banks allow you to close an account entirely online; others require a phone call or in-person visit. Have your account number ready.
Tell the bank you want to close the account and ask whether there are any outstanding checks, pending deposits, or holds on the account. If there are, the bank will tell you how long closure will take. Ask how they will return your remaining balance—by check mailed to your address, by transfer to another account, or by another method—and confirm the address where the check should go if that is your choice.
Some banks charge a fee to close an account early if you opened it recently, though this is uncommon. Ask before you confirm the closure.
What happens after you request closure
The bank will freeze the account immediately, meaning no new transactions can be posted. Any checks you wrote that have not yet cleared will still process, and any deposits in transit will still arrive. The bank must wait for these to clear before they can officially close the account.
Once all pending transactions have cleared, the bank will send you a final statement showing the account balance and all activity up to the closure date. If there is money left in the account, they will send it to you by the method you chose. If you requested a check, it will arrive by mail within a few business days; if you requested a transfer to another account, it will arrive within one to two business days.
Timing: how long closure actually takes
If there are no outstanding checks or pending deposits, most banks close an account within three to five business days. If you have checks still clearing or deposits in transit, closure can take up to two weeks or longer.
You can ask the bank for an estimate based on your specific situation. If you are closing because you are switching banks, you can open a new account at the same time; you do not have to wait for the old account to close first. This means your new account will be active and receiving deposits while the old one is still processing its final transactions.
What to do if the bank refuses to close the account
Banks rarely refuse to close an account, but they may delay if there is a dispute, a hold from a creditor, or an outstanding balance. If the bank says they cannot close the account, ask them to explain why in writing and what you need to do to resolve it.
If there is a hold or freeze on the account due to suspected fraud or a legal claim, the bank must tell you who placed it and how long it will remain. If a creditor has placed a hold, you may need to contact them directly to have it removed. If you believe the hold is a mistake, you can file a complaint with your bank's regulatory body—usually the Office of the Comptroller of the Currency (OCC) for national banks, the Federal Reserve for state member banks, or the FDIC for state non-member banks.
Closing a joint account
If the account is held jointly with another person, both account holders usually must consent to closure. Contact the bank and ask whether both signatures are required. If they are, you and the other person must both call, visit in person, or sign a closure form together.
If you and the other person disagree about closure, the bank will not close the account without both parties' consent. Your only option is to remove yourself as an account holder if the bank offers that service, though this requires the other person's agreement as well. If you cannot reach agreement, you may need legal advice to understand your rights and options.
Frequently Asked Questions
Will closing my bank account hurt my credit score?
No. Closing a bank account does not affect your credit score because banks do not report account closures to credit bureaus. Your credit score is based on credit accounts like credit cards and loans, not deposit accounts.
What if I close my account and then a check I wrote clears?
The check will still process and the bank will pay it from the account balance before closure is final. This is why the bank waits for all pending checks to clear before officially closing the account. If a check clears after the account is closed, the bank will contact you and may charge a fee.
Can I reopen an account after I close it?
Yes, you can open a new account at the same bank anytime. However, if you closed the account due to a dispute or fraud, the bank may require you to wait a period of time or may refuse to open a new account. Ask the bank about their policy before you close.
What if I have a negative balance when I try to close?
You cannot close an account with a negative balance. You must deposit enough money to bring the balance to zero or positive before the bank will process the closure. Once the balance is positive, the bank will return the remaining funds to you.
Do I need to close my account in person or can I do it by phone?
Most banks allow you to close by phone or online. In-person closure is usually an option but not required. Call your bank to ask which methods they accept.