Close a Bank Account: Bank-by-Bank Steps and Fees

By Plain Money Guide · Researched from official sources · Editorial standards

Move your deposits and auto-payments first, then close the account and keep the confirmation in writing.

Closing a bank account cleanly takes four moves: switch your direct deposit first, let every automatic payment clear, zero out the balance, then request closure and get written confirmation.

The order matters more than the paperwork. Most "I closed my account and got charged anyway" stories come from one forgotten subscription hitting an account the bank had already flagged as closed, or from a balance left sitting long enough to trigger monthly fees. Here is the sequence that avoids both, plus how the major banks actually handle a closure request.

Table of Contents

• Move these things before you close anything
• The closing sequence, step by step
• Bank by bank: how each one closes an account
• Fees and traps that catch people
• Get the closure in writing
• FAQ
• Where the call actually splits

Move these things before you close anything

Pull the last 60 to 90 days of transactions and read them line by line. Anything that repeats is something that will try to hit this account again. The usual suspects:

• Income: paycheck direct deposit, Social Security or other federal benefits, tax refunds, rental income.
• Autopay: rent or mortgage, utilities, insurance premiums, car payment, gym, phone, streaming.
• Linked apps: Venmo, Cash App, PayPal, Zelle (Zelle is often tied to the bank itself), brokerage or IRA transfers.
• Card-on-file: any merchant holding your debit card number, which is separate from ACH autopay.

Change income sources first, because those take the longest. A new direct deposit can take one or two pay cycles to take effect, so keep the old account open until you see a full paycheck land in the new one. For federal benefits, update your payment information through my Social Security or Go Direct rather than through the bank.

Also download your statements. Once the account closes, online access usually disappears within a few weeks to a few months, and requesting old statements afterward often carries a research fee. If you may need proof of income for a lease, mortgage, or student aid verification, save PDFs now.

The closing sequence, step by step

1. Redirect deposits and confirm one full cycle. Do not skip the confirmation step.
2. Cancel recurring payments at the source. Telling your bank to stop a payment is a backstop, not a cancellation. The CFPB explains how to revoke authorization and stop a payment in writing if a merchant keeps charging.
3. Leave a small buffer for about a month. Keep enough to cover any straggler transaction while you watch the account. Pending charges, tips added after the fact, and annual renewals are the usual latecomers.
4. Move the remaining money out. Transfer or withdraw down to zero. If interest posts after your last transfer, most banks mail a check for the remainder.
5. Submit the closure request. Use whichever channel the bank actually accepts (see the table below). Ask them to close it, not just to zero it out.
6. Get written confirmation and destroy the cards. A secure message, letter, or email confirming the closure date is what protects you if a fee shows up later.

Bank by bank: how each one closes an account

Channels differ far more than people expect. Some banks let you close a checking account entirely online; others still route you to a branch or a phone rep who will try to retain you. Policies change, so treat this as a starting point and confirm on the bank's own help page.

Bank	Typical way to close	Watch for
Chase	Branch, phone, or secure message in online banking	Chase customer service; savings closures may need a call
Bank of America	Online banking service request, phone, or branch	BofA service center; linked accounts close separately
Wells Fargo	Phone or branch, in most cases	Wells Fargo help; bring ID to a branch
Citi	Phone or branch; chat in some cases	Citi service; relationship pricing on other accounts may change
Capital One 360	Often fully online in account settings	Capital One help center; no branch needed for 360 accounts
Ally	Secure message or phone	Ally help; remainder mailed as a check
Discover	Phone, typically	Discover help center
Chime and other fintech apps	In-app support or email to support	Chime help; the partner bank holds the deposits
Credit unions	Branch, phone, or written request	Membership share account may need to stay open to keep membership

Two structural notes. At a credit union, your basic savings "share" account is your membership, so closing it can end the membership entirely, including access to a car loan rate you may want later. And at app-based banks, the money is actually held at a partner bank, so the closure request goes to the app, not the bank named on your statement.

Fees and traps that catch people

Early closure fees

Some banks charge a fee if you close a new account within a set window after opening it, often a few months. The amount and the window vary by bank and account type, so check your deposit account agreement or fee schedule before you pull the trigger. If you opened the account for a sign-up bonus, the same document usually says how long you must keep it open to keep the bonus.

Closing with a negative balance

Banks generally will not close an account that is overdrawn, and an unpaid negative balance can be sent to collections and reported to a checking-account screening company such as ChexSystems. That report can block you from opening an account elsewhere for years. You are entitled to a free copy of your screening report; the CFPB's bank account resources explain how these reports work and how to dispute errors.

Dormancy and unclaimed property

Abandoning an account instead of closing it is the expensive option. Small balances get eaten by monthly maintenance or inactivity fees, and after a period of no activity set by state law, the remaining money is turned over to the state as unclaimed property. Recovering it later means filing a claim through your state treasurer.

Get the closure in writing

Ask for a confirmation that names the account and the date it closed. A secure-message thread or an emailed letter is enough. Keep it with your saved statements for at least a year.

Then watch for one more cycle. If a charge somehow posts to a closed account, contact the bank immediately rather than letting it sit; the fastest fix is usually reversing it before it becomes an overdraft with fees attached. If a merchant keeps trying to charge you after you revoked authorization, you can file a complaint with the CFPB, which forwards it to the company for a response.

FAQ

Does closing a bank account hurt my credit score?

No. Checking and savings accounts are not reported to the credit bureaus, so closing one does not affect your credit score by itself. The exception is indirect: if you close with an unpaid negative balance and it goes to a collection agency, that collection account can appear on your credit report.

Can I close an account that still has money in it?

Yes. Most banks will close the account and send the remaining balance as a check, or transfer it to another account you hold there. It is simpler to move the money out yourself first so there is no waiting on a mailed check.

What if the bank refuses to close my account?

Banks can hold a closure while an account is overdrawn, has a pending dispute, is subject to a legal hold or levy, or has recent deposits that have not fully cleared. Ask specifically what condition is blocking the closure and what it takes to clear it, then request the closure again in writing once resolved.

Where the call actually splits

Start with the balance, because it decides whether you have a choice at all. If the account is overdrawn, clear it before you request closure — banks generally will not close an overdrawn account, and an unpaid negative balance can go to collections and onto a checking-account screening report that blocks you from opening an account elsewhere for years. Paying the shortfall now is the cheaper side of that trade.

If you opened the account in the last few months, or opened it for a sign-up bonus, read the deposit account agreement before you file anything. That one document holds both the early closure fee window and the minimum time you must keep the account open to keep the bonus. Waiting out the window is usually cheaper than eating the fee plus a clawed-back bonus.

If it is a credit union, close the checking but think twice about the membership share. The share account is the membership, so closing it can end your access to that credit union's loan rates later. Close both only if you are certain you are done there.

If the balance is small and you are tempted to just walk away, don't. Monthly maintenance and inactivity fees eat it down, and after the dormancy period set by state law the rest goes to the state as unclaimed property — recovering it then means filing a claim with your state treasurer instead of sending one closure request today.

This article is general information, not financial, legal, or medical advice. Rules and amounts change — verify with official sources or a licensed professional before acting.