Both account holders must agree, and the bank needs written instruction from at least one of you
Closing a joint account requires consent from everyone on it. You cannot unilaterally close an account that belongs to two or more people — the bank will not process the request without approval from all account holders, or a court order. If you and the other person agree to close it, contact the bank in writing or in person, bring identification, and follow their specific steps. If you disagree, you will need to pursue a separate legal remedy, which is outside what a bank can do.
The process itself is straightforward when both parties cooperate. You settle any outstanding transactions, withdraw or transfer the remaining balance, and submit a closure request. The timeline is usually a few business days to a week, depending on whether there are pending deposits or automatic payments still tied to the account.
Key Takeaways
- Both account holders must authorize the closure in writing, or the bank will refuse to close the account.
- You must settle the account balance, cancel automatic payments and direct deposits, and confirm no pending transactions before closure.
- If one account holder refuses to close the account, you cannot force closure through the bank — you would need a court order or separate legal action.
- After closure, request written confirmation from the bank and keep it for your records.
Steps to close the account when both holders agree
Start by reviewing the account for any pending transactions. Log into online banking or call the bank to check for outstanding checks, pending deposits, automatic bill payments, or recurring transfers. These must clear or be canceled before the account closes. If you have automatic payments set up (insurance, utilities, loan payments), contact each biller separately to redirect them to a different account or payment method — the bank will not do this for you.
Next, decide what to do with the remaining balance. You can withdraw it in cash, transfer it to another account (yours, the other account holder's, or a new joint account), or split it between two separate accounts. If the account is overdrawn or has a negative balance, you must cover that amount before closure. Some banks require the account to reach zero before they will close it; others will accept a small positive balance and close it immediately.
Contact the bank together, if possible, or have both account holders submit written closure requests. Most banks accept requests by phone, in person, or through their online banking portal. If you go in person, bring a government-issued ID. If you submit the request by mail, both signatories should sign the letter. The bank may ask for the account number, the reason for closure, and confirmation that all automatic payments have been canceled.
After you submit the request, the bank will process it within a few business days. They will send a final statement showing the account balance at closure and any final fees or interest. Keep this statement for your records.
What happens if one account holder wants to close and the other does not
If you and the other account holder disagree, the bank cannot close the account without a court order. A joint account is owned by both people equally, and the bank's legal obligation is to both of you. Unilaterally closing it would breach that duty to the other account holder.
Your options are limited to legal action. You can file a partition suit in civil court, which asks the court to divide the account and close it. This requires hiring an attorney and proving your case to a judge. The cost and timeline depend on your state and local court system, but this is typically a months-long process. Alternatively, if the account was opened for a specific purpose (like a joint business or a child's education fund) and that purpose has ended, you may have grounds to petition for closure on those grounds.
If the other account holder is deceased, the process is different — contact the bank with a death certificate and ask about their procedure for closing a deceased person's account. Many banks have a streamlined process for this.
Canceling automatic payments and direct deposits before closure
This step is critical and often overlooked. If you close the account while automatic payments are still active, those payments will fail, and you may face late fees or service interruptions. Contact each biller or employer separately — do not rely on the bank to notify them.
For automatic bill payments (utilities, insurance, loan payments, subscriptions), log into each biller's website or call them directly. Update your payment method to a different account or switch to manual payment. For direct deposits (paycheck, benefits, tax refunds), contact your employer's payroll department or the government agency sending the deposit and provide your new account number.
Give yourself at least two weeks before the account closes to make these changes. Some billers take several days to process updates, and you want to confirm the new payment method is working before the old account disappears.
Handling the account balance and final fees
Before closure, you need to decide how to split or withdraw the remaining money. If both account holders agree on the split, you can transfer funds to separate accounts or withdraw cash. If you disagree on how to divide the balance, the bank will not make that decision for you — you will need a court order or a written agreement signed by both parties.
Some banks charge a closure fee, typically $25 to $50, though many waive it if you have had the account in good standing. Ask the bank whether a fee applies before you submit the closure request. If the account has a negative balance (you owe the bank money), you must pay that amount before closure. The bank will not close an account with an outstanding debt.
After the account closes, the bank will send a final statement within one to two billing cycles. This statement shows the closing date, the final balance, any fees charged, and the date the funds were released. Keep this for your records, especially if there are tax implications or if you need proof of closure for a legal matter.
Getting written confirmation of closure
Once the bank processes your request, ask for written confirmation that the account is closed. You can request this by phone, email, or in person. The confirmation should include the account number, the closure date, and the final balance. Some banks include this on the final statement; others send a separate letter.
Keep this confirmation indefinitely. If a creditor or debt collector later claims the account is still active, or if there is a dispute about the closure date or final balance, you will need this document to prove the account was closed and when.
What to do if the bank refuses to close the account
If the bank refuses to close the account and both account holders have submitted written requests, contact the bank's customer service manager or file a complaint with your state's banking regulator. Most states have a banking commissioner or department of financial regulation that oversees consumer complaints. You can also file a complaint with the Consumer Financial Protection Bureau (CFPB) online at consumerfinance.gov.
In rare cases, a bank may refuse closure because there are pending legal holds on the account (a court order freezing the funds, for example) or because there is a dispute between account holders. If this is the case, the bank will explain the reason. You may need to resolve the underlying legal issue before the account can close.
Frequently Asked Questions
Can I close my half of a joint account without the other person's permission?
No. A joint account is owned by both people equally, and the bank requires consent from all account holders to close it. You cannot remove yourself from the account or close your portion without the other person's agreement. If you want to separate your finances, you would need to open a new individual account and transfer your share of the balance to it, but the joint account itself remains open.
What if the other account holder is missing or unreachable?
Contact the bank and explain the situation. Some banks will close the account if you provide documentation that the other person is deceased, or if you have a court order. If the person is simply missing or unreachable, the bank may require a court order before proceeding. You may also need to file a legal petition to have the person declared absent or to obtain guardianship, depending on your state's laws.
Will closing the account affect my credit score?
Closing a checking or savings account does not directly affect your credit score, because these accounts are not reported to credit bureaus. However, if you have automatic payments set up and you fail to redirect them before closure, missed payments could damage your credit. Make sure all automatic payments are canceled or redirected before the account closes.
How long does it take for the bank to close the account after I request it?
Most banks close an account within three to five business days of receiving a written request, provided there are no pending transactions and the account balance is settled. If there are outstanding checks or deposits, closure may take longer. The bank will notify you when the account is officially closed.
Do I need a lawyer to close a joint account?
No, if both account holders agree. You can close the account by contacting the bank directly. You only need a lawyer if the other account holder refuses to close the account and you want to pursue legal action to force closure or divide the funds.