The basic steps to close your account

To close a bank account, contact your bank directly—by phone, in person at a branch, or through their website—and tell them you want to close the account. They will ask you what to do with any remaining balance (transfer it to another account or receive a check), confirm you have no pending transactions, and process the closure. The account typically closes within a few business days, though some banks close it immediately.

Before you call or visit, make sure you have moved any money you want to keep to another account. Check that no automatic payments, direct deposits, or subscriptions are still linked to this account—those will fail once it closes, and failed payments can trigger overdraft fees or late charges on other bills.

You do not need a reason to close an account. Banks cannot force you to keep an account open, and they cannot charge you a fee to close it (though some older accounts may have early closure penalties if you close within a set period—usually 90 to 180 days of opening). Ask about this before you close if the account is very new.

Key Takeaways

  • Contact your bank by phone, in person, or online and request closure; they will ask what to do with your remaining balance.
  • Move your money to another account first, and cancel any automatic payments or direct deposits linked to the account you are closing.
  • The account closes within a few business days; some banks close it the same day you request it.
  • Banks cannot charge you to close an account, but very new accounts may have early closure penalties—ask before you close.
  • If you have a negative balance (you owe the bank money), you must pay it before closure or the bank will collect it from another account or send it to a debt collector.

What to do with money still in the account

When you close the account, the bank needs to know where your remaining balance should go. You have two options: transfer it to another bank account you own, or have the bank mail you a check.

A transfer is faster and safer—the money moves directly from one account to another, usually within one to three business days. You will need the account number and routing number of the account where you want the money sent. If you are moving to a different bank, you can find the routing number on that bank's website or by calling them.

A check takes longer—the bank mails it to the address on file, and it can take one to two weeks to arrive. Once you receive it, you have to deposit it yourself. Checks can also get lost in the mail. If you choose a check and do not receive it within three weeks, contact the bank and ask them to issue a replacement or transfer the money electronically instead.

Stopping automatic payments and direct deposits before you close

Any automatic payment set up on the account—a utility bill, insurance premium, loan payment, or subscription—will fail once the account closes. A failed payment can trigger a late fee, damage your credit if it is a loan or credit card payment, or cause a service to be shut off. Direct deposits, like a paycheck, will also bounce back to your employer.

Before you close the account, log into each service that pulls money from this account and change the payment method to a different account or card. This includes utilities, insurance, phone bills, streaming services, gym memberships, and loan payments. If you are not sure what is linked to the account, check your bank's transaction history for the past two months and look for recurring charges.

If you forget to move a payment and it fails after you close the account, contact the company immediately and provide a new payment method. Many will waive a single late fee if you explain the account closure and pay right away.

What happens if you owe the bank money

If your account has a negative balance—meaning you owe the bank money because of overdraft fees, unpaid charges, or other debits—you cannot close the account until you pay what you owe. The bank will not process the closure request.

If you close the account while it is negative, the bank will collect the debt. They may take the money from another account you have at the same bank, or they may send the debt to a collection agency. A debt sent to collections will appear on your credit report and can affect your ability to open accounts at other banks.

Pay the negative balance before you request closure. If you are not sure whether your account is negative, log in or call the bank and ask for your current balance.

Closing an account at a branch versus by phone or online

You can close an account in person at a branch, by phone, or online—whichever is fastest for you. In-person closure is useful if you want to withdraw cash instead of transferring or receiving a check, or if you have questions the bank representative can answer on the spot. Bring a photo ID.

Phone closure is quick if you have already moved your money and cancelled your payments. You will need to verify your identity by answering security questions or providing your account number and Social Security number. The bank will confirm your remaining balance and where it should go, then process the request.

Online closure is available at most banks through their website or app. You log in, find the account settings or help section, and look for a "close account" option. Some banks allow full closure online; others require you to call to complete it. If you do not see the option online, call or visit a branch.

How long closure takes and what to expect after

Most banks close an account within one to five business days of your request. Some close it immediately. You will receive a confirmation—by email, mail, or in your online banking portal—once the account is closed. Keep this confirmation in case you need proof later that the account is closed.

After closure, you will no longer be able to log into the account online or use any debit card linked to it. If you try to use the card, it will be declined. If the bank mailed you a check for your remaining balance, it will arrive separately from the closure confirmation.

If you closed the account because of a problem—poor customer service, high fees, or a data breach—consider leaving feedback with the bank. Many banks have a customer complaint process, and some state banking regulators accept complaints about banks in their state.

Reasons people close accounts and what to consider first

People close accounts for different reasons: moving to a bank with lower fees, switching to an online bank, consolidating multiple accounts, or leaving a bank because of bad service. Before you close, think about whether you might need the account again—if you do, you may be able to reopen it, but some banks charge a fee or require you to wait a set period.

If you are closing because of fees, check whether the bank offers a different account type with lower costs. Some banks have basic checking accounts with no monthly fee, or they waive fees if you keep a minimum balance or set up direct deposit. You might save the effort of switching banks.

If you are closing because you are unhappy with the bank, you do not have to explain why. You can simply request closure. However, if the issue is a billing error or a dispute, resolve that first—closing the account does not erase what you owe or what the bank owes you.

Frequently Asked Questions

Can I reopen an account after I close it?

Most banks allow you to reopen a closed account within a certain period, usually 30 to 90 days, without a new application. After that period, you will need to open a new account. Some banks charge a fee to reopen an account or require you to wait six months. Call your bank and ask about their policy before you close if you think you might reopen it.

What if I still have checks linked to the closed account?

Any checks you write on a closed account will bounce. Before you close, stop using the checkbook. If you have already written checks that have not cleared, wait until they do before closing the account. If a check bounces after closure, the recipient can pursue you for the amount plus a returned check fee, so do not leave outstanding checks.

Do I need to close my account in person?

No. You can close by phone or online at most banks. In-person closure is useful only if you want to withdraw cash or prefer to speak face-to-face. If your bank does not offer online or phone closure, you will need to visit a branch.

What if the bank will not close my account?

Banks must close accounts when you request it. If a bank refuses, ask to speak with a manager and request the reason in writing. If the issue is an unpaid debt, you must pay it first. If the bank still refuses without a valid reason, file a complaint with your state banking regulator or the Consumer Financial Protection Bureau.

Will closing an account hurt my credit?

Closing a checking or savings account does not affect your credit score. Credit scores are based on credit accounts like credit cards and loans, not deposit accounts. However, if you close an account with a negative balance and do not pay it, that debt can be reported to credit bureaus and damage your score.