The basic process: what you need to do
To close a bank account, contact your bank directly—by phone, in person at a branch, or through online banking—and tell them you want to close the account. The bank will ask you to settle any outstanding balance, stop any automatic payments or direct deposits tied to that account, and confirm you have no pending transactions. Once those are handled, the bank closes the account, usually within a few business days. You will receive written confirmation by mail.
The exact steps vary slightly by bank and account type, but the core sequence is the same whether you are closing a checking account, savings account, or money market account. Some banks let you start the process online; others require a phone call or a visit to a branch. If you have a joint account, both account holders usually need to consent to the closure.
Key Takeaways
- Contact your bank by phone, in person, or online to request closure, and have your account number ready.
- Withdraw or transfer any remaining balance before closing, and confirm there are no pending checks or automatic payments still attached to the account.
- Ask the bank for written confirmation of the closure and keep it for your records.
- If you have a joint account, both owners must consent to close it in most cases.
- After closure, monitor your credit report to make sure the account is marked as closed by the account holder, not by the bank.
Settle your balance and stop automatic payments
Before you close the account, move any money you want to keep to another account or withdraw it in cash. If the account has a negative balance—meaning you owe the bank money—you must pay that amount before closure. The bank will not close an account with an outstanding debt.
Next, stop any automatic payments, bill pay transfers, or direct deposits that are set to hit this account. Log into your online banking or call the bank to review what is scheduled. Contact your employer, creditors, or any service providers who send money to this account and give them your new account number if you have one. This step is critical: if a payment tries to post to a closed account, it can bounce, trigger overdraft fees on another account, or delay a payment you need to make.
Check for outstanding checks you have written. If you have checks still in circulation that have not cleared, wait until they do before closing, or contact the bank to ask about their policy on checks posted after closure. Some banks will honor them; others will not.
Contact your bank and request closure
Call the customer service number on the back of your debit card, visit a branch in person, or log into your online banking portal and look for an account closure option. Have your account number and a form of identification ready. The bank may ask why you are closing the account, but you are not required to give a detailed reason.
If you are closing the account because of poor service, fraud, or a dispute, mention it. The bank may try to retain you by offering to fix the problem or waive fees. If you want to close anyway, be clear and direct: "I want to close this account." Do not let the conversation drift into negotiation unless you actually want to stay.
If you are closing a joint account, the bank will typically require both account holders to be present or to provide written consent. Some banks allow one person to close a joint account unilaterally, but this varies. Ask the bank about their specific policy before you proceed.
What happens to your remaining balance
If you have money left in the account after you have paid any negative balance, the bank will send it to you. Most banks issue a check mailed to the address on file within 5 to 10 business days of closure. Some banks offer to transfer the balance to another account you specify, which is faster. Ask which option is available and choose the one that works for you.
If the bank cannot locate you after a certain period—usually one to three years, depending on state law—the money may be turned over to your state's unclaimed property program. You can search for unclaimed funds through the National Association of Unclaimed Property Administrators (NAUPA) website or your state treasurer's office.
Get written confirmation and monitor your credit
Ask the bank for written confirmation that the account has been closed. This may come as an email, a letter, or a statement. Keep this document for your records. It serves as proof that you closed the account on your terms, which matters if a dispute arises later.
After 30 to 60 days, check your credit report through one of the three major credit bureaus—Equifax, Experian, or TransUnion. You can request a free report once per year at AnnualCreditReport.com. The closed account should appear on your report marked as "closed by consumer" or "closed at consumer's request." If it shows as "closed by creditor" or "closed by bank," contact the bureau and the bank to correct it. An account closed by the bank can affect your credit score more negatively than one you closed yourself.
Timing and what to expect
The entire closure process typically takes 5 to 10 business days from the date you request it. If you are closing in person at a branch, the bank may process it the same day. If you are closing by phone or online, allow extra time for mail delivery of your final balance or confirmation letter.
During this window, do not write checks or set up new automatic payments against the account. If a transaction posts after you have requested closure, contact the bank immediately to report it and ask them to reverse any fees.
If you are switching to a new bank, set up your new account and update your direct deposits and bill payments before you close the old one. This prevents a gap in your ability to receive or send money.
Special situations: joint accounts, frozen accounts, and problem closures
If the account is frozen due to suspected fraud or a legal hold, the bank will not let you close it until the freeze is lifted. Ask the bank why the account is frozen and what you need to do to unfreeze it. This can take weeks if law enforcement is involved.
If you are trying to close an account but the bank is refusing—for example, because of an unresolved dispute or a negative balance you cannot pay immediately—ask to speak with a manager. If the bank still refuses, you can file a complaint with the Consumer Financial Protection Bureau (CFPB) or your state's banking regulator. These agencies can investigate and sometimes force the bank to close the account.
For joint accounts, if one account holder wants to close but the other does not, most banks will not proceed without both parties' consent. If you are in a situation where you need to separate finances from a co-owner, you may need to close the joint account and open a new individual account instead.
Frequently Asked Questions
Can I close my bank account online?
Many banks allow you to close an account through their online portal or mobile app, but not all do. Log into your account and look for an account settings or account closure option. If you do not see one, call the bank or visit a branch. Some banks require a phone call or in-person visit for security reasons.
What happens to checks I have already written if I close my account?
Checks that have already cleared will not be affected. Checks that have not yet cleared may bounce if they are presented after the account closes. Contact the bank before closing to ask about their policy on post-closure checks, or wait until you are sure all outstanding checks have cleared.
Do I lose money if I close my account?
No, you do not lose the money in the account. The bank will return any remaining balance to you by check or transfer. You may lose money only if the account has a negative balance that you owe the bank, or if there are outstanding fees the bank deducts before sending your final balance.
How long does it take to close a bank account?
Closure typically takes 5 to 10 business days from the date you request it. If you close in person at a branch, the process may be faster. If you close by phone or mail, allow extra time for processing and mail delivery of your final balance or confirmation.
Will closing my bank account hurt my credit score?
Closing a bank account does not directly affect your credit score because banks do not report checking or savings accounts to credit bureaus. However, if the account is reported as "closed by bank" rather than "closed by consumer," it may have a minor negative effect. Make sure the closure is marked correctly on your credit report.