The basic steps to close an 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 (usually transfer it to another account or receive a check), confirm that no automatic payments are still tied to the account, and process the closure. The account typically closes within a few business days, though some banks do it the same day.
You do not need a reason to close an account, and the bank cannot force you to keep it open. However, closing takes a few steps in the right order, and skipping one can leave you with problems—a check that bounces, a payment that fails, or money stuck in limbo. The key is to move your money out first, stop using the account, and then formally request the closure.
Key Takeaways
- Move your remaining balance to another account before closing, either by transfer or by requesting a check from the bank.
- Cancel or redirect any automatic payments, direct deposits, or standing orders linked to the account before you close it.
- Contact your bank by phone, in person, or online to formally request the closure, and ask for written confirmation once it is complete.
- If you have a debit card tied to the account, the bank will deactivate it when the account closes, so plan to use a different card for purchases.
- Closing an account does not hurt your credit score, but leaving an account open with a zero balance costs nothing and may be useful to keep.
What to do with the money still in the account
Before you close the account, you need to move any money out. The simplest way is to transfer the balance to another bank account you own—at the same bank or a different one. Log into your online banking, use the transfer feature, and move the money to your new account. This usually takes one to three business days.
If you do not have another account ready, ask the bank to send you a check for the remaining balance. Tell them when you call or visit to close the account, and they will mail it to you. Some banks charge a small fee for a check (usually $5 to $10), though many waive it. The check arrives within one to two weeks.
Do not leave money in the account after you close it. Once the account is closed, the bank will not process new transactions, and retrieving the money becomes harder. Move it out first, confirm the transfer or check arrived, and then proceed with the closure.
Stopping automatic payments and deposits before closing
Any automatic payment or deposit tied to the account will fail once it closes. If a payment fails, you may face a late fee from the company you owe money to, or a service interruption. If a deposit fails—like a paycheck—your money goes nowhere and you have to contact your employer to resend it.
Before closing, log into each service that uses the account and update the payment method or deposit location. This includes your employer (for direct deposit), insurance companies, utility companies, subscription services, loan payments, and any other recurring transaction. Change them to a new account or payment method at least one week before you close the old account.
If you are unsure which services use the account, review your bank statements from the last three months and look for recurring charges or deposits. Call or email any company you are not sure about and ask them to confirm where they send payments. It takes time, but it prevents payments from bouncing and deposits from disappearing.
How to formally request the closure
Once your balance is moved and your automatic payments are redirected, contact the bank to close the account. You have three options: call the customer service number on the back of your debit card, visit a branch in person, or use the bank's website or app if they offer online closure.
By phone is usually fastest. Have your account number ready, and tell the representative you want to close the account. They will confirm the balance is zero (or ask what to do with any remaining money), verify that no automatic payments are pending, and process the closure. Ask them to email or mail you written confirmation that the account is closed.
In person at a branch, bring your ID and debit card. The teller will verify your identity, confirm the account details, and close it on the spot. You will usually get a receipt or confirmation letter immediately.
Online closure is available at some banks but not all. Log into your account, look for account settings or account management, and follow the prompts. Not every bank offers this option, so if you do not see it, call or visit a branch instead.
What happens to your debit card
When the account closes, the debit card linked to it stops working. You do not need to do anything—the bank will deactivate it automatically. If you want to destroy the card yourself (to be safe), cut it up or shred it before the closure is complete.
If the bank issued you a new debit card for a different account, that card will work normally. If you do not have another card yet, plan to get one before closing the account, or be ready to use a credit card or other payment method for a few days while a new card arrives.
Why you might want to keep an account open instead
Closing an account is permanent and takes a few days. If you are only switching banks, consider keeping the old account open with a zero balance. It costs nothing if there is no monthly fee, and it gives you a backup if something goes wrong with the new account. You can always close it later.
Keeping an old account open also protects you if a company still has the old account number on file and tries to process a payment. The payment will fail, but at least you will see it in the old account and know to update the company's records. If the account is already closed, the payment disappears and you may not notice until you are late on a bill.
The only reason to close an account is if it has a monthly maintenance fee and you do not plan to use it. If there is no fee, leaving it open costs you nothing and solves more problems than it creates.
What closing does and does not affect
Closing a bank account does not hurt your credit score. Your credit score is based on borrowed money—credit cards, loans, mortgages—not on the bank accounts you hold. Closing a checking or savings account has no effect on your credit at all.
Closing an account also does not affect your ability to open a new account at another bank. Banks check a system called ChexSystems when you open a new account, which tracks overdrafts, bounced checks, and fraud—not account closures. A normal closure leaves no mark.
However, if you close an account while it is overdrawn (meaning you owe the bank money), that debt does not disappear. The bank will still try to collect it, and it may be reported to a collection agency. Pay any overdraft balance before closing the account.
Frequently Asked Questions
Can I close an account if I still owe the bank money?
No. If the account is overdrawn, the bank will not close it until the balance is paid. Pay the overdraft first, bring the account to zero or positive, and then request closure. If you do not pay, the bank may send the debt to a collection agency.
What if I close an account and then a check I wrote bounces?
The check will bounce because there is no account to draw from. The person or company you wrote the check to will be notified, and you may face a bounced-check fee from them. This is why you should stop writing checks at least two weeks before closing the account and confirm all automatic payments have been moved to a new account.
How long does it take to close an account?
The closure itself is instant or takes one business day, depending on the bank. However, the full process—moving your money, redirecting payments, and getting written confirmation—usually takes three to five business days. Some banks take longer if they need to mail you a check or confirmation letter.
Do I need to close the account in person, or can I do it by phone?
Most banks let you close by phone or online. You do not have to visit a branch unless you want to. Call the number on your debit card or log into your account online to see if closure is an option. If the bank does not offer phone or online closure, then you will need to visit a branch.
What if the bank lost my money after I closed the account?
If you transferred money to another account and it never arrived, contact the bank that sent it within three business days. They can trace the transfer and recover the money. This is why you should confirm the transfer arrived before closing the account. If you requested a check and it never arrived, contact the bank and ask them to resend it or issue a replacement.