You can close a TD Bank savings account by visiting a branch in person, calling customer service, or using online banking—the fastest route depends on whether you have a balance and what you want to do with the money.
TD Bank offers three main paths to close a savings account. The simplest is to walk into any TD Bank branch with your ID and ask to close the account; a teller can do it on the spot and handle any remaining balance. If you prefer not to visit a branch, you can call TD Bank customer service at 1-800-937-8372 and request closure over the phone—they will ask security questions to verify your identity and guide you through next steps. Some account holders can also initiate closure through TD Bank's online banking platform, though this option is not available for all account types.
Before you close the account, decide what to do with any remaining balance. TD Bank will not close an account with a negative balance (overdraft), so you must deposit funds to bring it to zero or positive first. If there is money in the account, the bank can transfer it to another TD account you hold, send a check to your mailing address, or deposit it into an external bank account if you provide routing and account numbers.
Key Takeaways
- Visit a branch with your ID, call 1-800-937-8372, or use online banking to request closure—branch visits are fastest if you need the money when ready.
- You must have a zero or positive balance before closing; if the account is overdrawn, deposit funds first.
- TD Bank can transfer remaining money to another account you own, mail a check, or deposit it into an external bank account.
- Bring or have ready your account number, Social Security number, and ID to speed up the process.
- The account closes within one to three business days after you submit the request, though checks or transfers may take longer to arrive.
Closing in person at a TD Bank branch
Walking into a branch is the fastest way to close your account if you want when ready confirmation and need to handle the balance right away. Bring your ID and your TD Bank debit card or account number. A teller will pull up your account, confirm the balance, and ask how you want to receive any remaining funds. If you choose to transfer the money to another TD account you hold, the teller can do that when ready. If you want a check mailed, the teller will note your address and send it within five to seven business days.
The entire process usually takes 10 to 15 minutes. The teller will give you a receipt or confirmation number showing the account is closed. Keep this document in case you need proof later for tax purposes or to dispute any charges that appear after closure.
Closing over the phone with customer service
Call TD Bank customer service at 1-800-937-8372 during business hours (typically 8 a.m. to 8 p.m. Monday through Friday, 9 a.m. to 5 p.m. Saturday, and 10 a.m. to 6 p.m. Sunday, though hours vary by season). Have your account number and Social Security number ready. The representative will verify your identity by asking security questions, confirm your account balance, and ask how you want the money handled.
If you request a check, it will be mailed to the address on file within five to seven business days. If you want the funds transferred to another bank account, provide the routing number and account number, and the transfer typically completes within one to three business days. The representative will give you a confirmation number—write it down and ask them to note in the account that you requested closure, so there is a record if questions arise later.
Closing through online banking
TD Bank's online platform does not offer account closure for all account types. If your savings account is may be able to access, you can log in, navigate to account settings, and look for a "Close Account" or "Account Services" option. The exact steps vary depending on whether you use TD Bank's website or mobile app. If you do not see a closure option, your account type may require you to close it by phone or in person.
Online closure requests typically take one to three business days to process. You will receive an email confirmation once the request is submitted. If you have a remaining balance, you must specify how to receive it before submitting the closure request—the system will not let you proceed without choosing a method.
What happens to your money when you close
TD Bank will not close an account that has a negative balance. If your account is overdrawn, you must deposit enough money to bring it to zero or positive before closure can happen. Once the balance is zero or positive, you choose how to receive the remaining funds. The three options are: transfer to another TD Bank account you own (when ready or same-day), receive a mailed check (five to seven business days), or transfer to an external bank account (one to three business days).
If you do not specify what to do with the money, the bank will not close the account and will contact you to ask. Do not leave this step unfinished—an unclosed account with a balance may incur monthly maintenance fees or inactivity fees depending on the account type.
Timing and what to expect after closure
The account closure request is processed within one to three business days. However, the time it takes to receive your money depends on the method you chose. A transfer to another TD account happens same-day or next business day. A mailed check takes five to seven business days from the closure date. A transfer to an external bank account takes one to three business days, depending on the receiving bank's processing speed.
Once the account is closed, you will no longer be able to use the debit card or access the account online. Any automatic payments or direct deposits linked to this account will fail, so update those with your new account information before closing if you plan to keep banking with TD. If you receive a bill or statement after closure, contact customer service with your confirmation number to clarify—it may be a delayed posting from before the closure date.
Reasons to close and alternatives to consider
Common reasons to close a savings account include switching banks, consolidating multiple accounts, or ending a relationship with TD Bank. Before you close, consider whether you might want to keep the account open. If you are closing because of low interest rates, you could transfer the balance to a higher-yield savings account at TD or elsewhere instead. If you are closing because of fees, contact customer service to ask whether a different account type (such as a student or senior account) might have lower costs.
If you are closing because you no longer use the account, you could also leave it open with a zero balance—this does not hurt your credit and keeps the account history on your record. However, some TD savings accounts charge monthly maintenance fees even with zero balance, so check your account terms. If fees explore, closure is the better choice.
Frequently Asked Questions
Can I close my TD Bank savings account if it has a negative balance?
No. You must deposit funds to bring the account to zero or positive before closure. Once the balance is zero or above, you can proceed with closing.
How long does it take to close a TD Bank savings account?
The closure request is processed in one to three business days. If you choose a mailed check, add five to seven business days for delivery. A transfer to another TD account is faster—usually same-day or next business day.
What happens to automatic payments or direct deposits after I close?
They will fail. Before closing, update any automatic payments or direct deposits with your new account information so money does not get rejected or sent to a closed account.
Do I need to visit a branch in person, or can I close by phone?
You can close by phone at 1-800-937-8372 or in person at any TD Bank branch. Some accounts can also be closed through online banking, though not all account types support this option.
Will closing my TD Bank savings account hurt my credit?
No. Closing a savings account does not affect your credit score. Only credit accounts like credit cards and loans appear on your credit report.