The basic process: what you need to do
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. They will ask you to confirm your identity, tell you the balance, and ask what to do with any remaining money. You then need to move that money out (or let them send you a check), stop any automatic payments tied to that account, and wait for written confirmation that the account is closed. The whole thing usually takes a few days to two weeks.
Most banks will not charge you to close an account, though some charge a fee if you close within a certain window after opening (typically 90 to 180 days). Read your account agreement or ask before you start the process so you know what to expect.
Key Takeaways
- Contact your bank by phone, in person, or online and request account closure; they will confirm your identity and tell you the balance.
- Move any remaining money out of the account or ask the bank to mail you a check before the account closes.
- Stop or redirect any automatic payments (bills, paychecks, subscriptions) that are tied to the account you are closing.
- Some banks charge a closure fee if you close within 90 to 180 days of opening; check your agreement first.
- Request written confirmation of closure and keep it for your records.
Step 1: Gather your account information and decide what to do with the money
Before you call or visit, know your account number and have your ID ready. Decide whether you want the bank to transfer any remaining balance to another account (yours or someone else's), mail you a check, or keep the money in a different account at the same bank.
If the account has a balance, the bank will not close it until the money goes somewhere. If there is no balance, the closure is faster. If the account is overdrawn (you owe the bank money), you must pay that amount before they will close it.
Step 2: Stop or move automatic payments and direct deposits
Before you close the account, log into any service that pulls money from or sends money to that account—your employer's payroll system, your utility company, your insurance provider, subscription services, loan payments, anything. Change the payment method or account number in each one.
If you forget and a payment tries to go through after the account closes, it will bounce. That can trigger overdraft fees at your old bank, late fees from the company trying to collect, and a mark on your banking record. Give yourself at least a week to catch everything, and check your statements from the past three months to see what has been coming in and going out.
Step 3: Contact your bank and request closure
Call the customer service number on the back of your card, visit a branch in person, or log into your online banking and look for a "close account" or "account settings" option. Some banks let you start the process online but require a phone call to finish it.
When you reach the bank, give them your account number and say you want to close the account. They will ask you to verify your identity (usually your Social Security number, date of birth, or a PIN). They will tell you the current balance and confirm where the money should go. Ask them to note in the file that you requested closure and what date it takes effect.
Step 4: Confirm the money transfer and watch for the closure
If you asked the bank to transfer the balance to another account, that usually happens within one to three business days. If you asked for a check, it will arrive by mail in five to ten business days depending on the bank and your location.
After the money is out, the account should close within a few days. Some banks close it immediately; others wait a week to make sure no pending transactions are still in the pipeline. Do not be alarmed if the account stays open for a short time after you request closure—that is normal.
Step 5: Get written confirmation and keep it
Once the account is closed, the bank should send you a letter or email confirming the closure date. If you do not receive one within two weeks, call back and ask for it. Keep this confirmation for your records—you may need it if a payment bounces later and you need to prove the account was already closed, or if you are disputing a charge.
Also check your credit report a few weeks later to make sure the account shows as closed by your request, not by the bank for cause. You can order a free report from annualcreditreport.com, which is the only official site for free federal credit reports.
What happens if the account has a negative balance
If you owe the bank money (the account is overdrawn), you must pay that amount before they will close it. The bank will not transfer a negative balance or send you a check for a debt. Pay the full amount owed, then follow the closure steps above.
If you do not pay and simply stop using the account, the bank may close it on their own after a period of inactivity, but the debt stays on your record. The bank can report it to a collection agency or sue you for the amount. It is faster and cheaper to pay the balance and close it yourself.
Frequently Asked Questions
Can I close my account online, or do I have to call?
Many banks let you start the closure online, but most require a phone call or in-person visit to finish it. Check your bank's website or app for a "close account" option. If you do not see one, call the number on the back of your card.
What if I have a pending check or transaction that has not cleared yet?
Tell the bank about any checks you wrote or pending transactions before you close. They may ask you to wait until those clear, or they may close the account and handle the transaction after closure. Either way, the bank is responsible for honoring the check or transaction even after the account closes, so you will not lose money—but it can take longer.
Do I lose my transaction history after I close the account?
No. Banks keep records for at least five to seven years. You can request statements or transaction history even after the account is closed. Some banks let you download statements online before closure; others require you to call or visit a branch to get them.
Will closing my account hurt my credit score?
Closing a bank account does not directly affect your credit score because banks do not report account closures to credit bureaus. However, if the account was overdrawn and went to collections, that will hurt your score. Closing the account itself is not the problem.
How long does it take to close an account?
The closure request itself is instant, but the account may stay open for a few days to a week while the bank processes pending transactions. If you are waiting for a check, add five to ten business days for mail delivery. You should see written confirmation within two weeks.