You can close a Chase savings account by phone, in person at a branch, or through the Chase mobile app — the process takes a few minutes and you'll need to decide what to do with any remaining balance first.

Closing a savings account is straightforward, but Chase requires you to handle a few things in a specific order. You need to withdraw or transfer out any money in the account, make sure there are no pending transactions, and then formally close it. Chase won't charge you a fee to close the account, and you don't need a reason to do it.

The method you choose depends on what's easiest for you. If you have a Chase branch nearby and prefer talking to someone in person, that's an option. If you'd rather handle it from home, the phone line or app work just as well. Either way, the account closes the same day you request it.

Key Takeaways

  • You must move or withdraw all money from the account before Chase will close it — they won't close an account with a balance.
  • You can close the account by calling Chase customer service, visiting a branch in person, or using the Chase mobile app.
  • There is no fee to close a savings account, and the closure happens the same day you request it.
  • After closing, keep your final statement for your records in case you need proof the account is closed for tax or other purposes.

Moving your money before you close

Before you can close the account, every dollar in it has to go somewhere else. You have two choices: transfer the money to another account or withdraw it in cash.

If you're moving the money to another Chase account you own — like a checking account or a different savings account — you can do this through the Chase app or online banking. Log in, go to the account you want to close, and look for a transfer option. You can move the money instantly to your other Chase account. If you're moving money to a bank outside Chase, you'll set up an external transfer, which usually takes one to three business days.

If you prefer cash, you can withdraw the full balance at any Chase branch or ATM. Just make sure you do this before you call to close the account, because once it's closed, you won't be able to access it.

Closing through the Chase mobile app

The app is often the fastest way if you've already moved your money. Open the Chase app, find the savings account you want to close, and look for the account details or settings menu — this is usually a gear icon or three dots in the corner. Scroll down until you see a "Close account" or "Close this account" option.

Tap it, and Chase will ask you to confirm that the account balance is zero and that you want to proceed. You'll see a confirmation message right away. The account closes immediately, and you should receive an email confirming the closure within a few minutes.

Closing by phone with Chase customer service

Call Chase customer service at the number on the back of your debit card or on your account statement. You can also find the number on the Chase website. Have your account number ready, though the representative can look it up with your Social Security number and date of birth.

Tell the representative you want to close your savings account. They'll confirm that the balance is zero, ask a few quick questions about why you're closing it (you don't have to give a detailed answer), and then process the closure. The whole call usually takes less than five minutes. Ask the representative to email you a confirmation, or note the date and time of the call for your records.

Closing in person at a Chase branch

If you prefer to close the account face-to-face, go to any Chase branch during business hours with your ID. Tell the teller you want to close your savings account. They'll pull up the account, confirm the balance is zero, and process the closure right there. You'll get a receipt showing the account is closed.

This method works well if you also need to withdraw cash or handle other banking tasks at the same time. Bring your ID and your account number or the debit card linked to the account.

What happens after you close the account

Once the account is closed, you can no longer use it. Any automatic transfers or bill payments linked to that account will fail, so make sure you've updated those to a different account before closing. If you had set up direct deposit to this account, you'll need to change that information with your employer or the organization sending the deposit.

Chase will send you a final statement showing the account is closed. Keep this for your records — you may need it for tax purposes or to prove the account is closed if a company tries to charge it later. The statement usually arrives within one to two weeks.

What to do if you can't close the account

If Chase won't let you close the account, it's almost always because there's still a balance in it or a pending transaction hasn't cleared. Check your current balance in the app or online banking. If you see a pending charge, wait for it to post and then withdraw or transfer that money out.

In rare cases, there may be a hold on the account due to fraud investigation or other security reasons. If that's the case, the representative or teller will tell you and explain what needs to happen before you can close it. You may need to wait a few days or provide additional information.

Frequently Asked Questions

Will closing my savings account hurt my credit score?

No. Closing a savings account does not affect your credit score because savings accounts are not reported to credit bureaus. Only credit accounts like credit cards, loans, and lines of credit show up on your credit report.

Can I reopen a Chase savings account after I close it?

Yes, you can open a new savings account with Chase at any time after closing one. You'll go through the same process as opening any new account. However, if your account was closed due to fraud or violation of Chase's terms, you may not be able to open a new one with them.

What if I forgot about the account and didn't close it?

If you have an inactive savings account with Chase, they may close it for you after a period of inactivity, though this varies. Check your statements or log into your account to see if it's still open. If it is and you want it closed, follow the steps above. If there's still money in it, you'll need to move that first.

Do I need to close the account in the same state where I opened it?

No. You can close a Chase savings account from anywhere — by phone, app, or at any Chase branch nationwide. Location doesn't matter because Chase is a national bank and all accounts are managed through the same system.

What if there's a small balance I can't withdraw?

If there's a few cents left that you can't easily move, call Chase customer service and explain the situation. They can sometimes waive the small balance or move it to another account for you so you can close the account.