The fastest way to close a Truist money market account
You can close a Truist money market account by calling Truist customer service, visiting a branch in person, or using online banking if that option is available on your account. The phone route is usually fastest — you'll reach someone who can walk you through the steps and answer questions about what happens to your money. Have your account number ready when you call.
Before you close the account, make sure any remaining balance is moved somewhere else. Truist will not close an account with money still in it. You can transfer the balance to another Truist account you own, move it to a different bank, or request a check. The process typically takes a few business days once you've initiated the closure.
Key Takeaways
- Call Truist customer service, visit a branch, or use online banking to request closure — phone is usually the quickest method.
- Your account balance must be zero before Truist will close the account, so transfer or withdraw all remaining money first.
- If you have automatic deposits or payments tied to the account, cancel or redirect them before closing to avoid failed transactions.
- Closing takes a few business days after you submit the request, and you should receive written confirmation by mail.
- If the account has been inactive or overdrawn, Truist may have already closed it — check your account status before calling.
Gathering what you need before you call
Have your account number handy — you can find it on your debit card, a recent statement, or by logging into online banking. If you don't have the account number, you can still call and provide your Social Security number and the phone number or email address on file, and the representative will locate it for you.
Check your account for any automatic deposits, recurring bill payments, or transfers that are scheduled to hit the account. If you have direct deposit set up, you'll need to update that with your employer or the organization sending the payment before you close the account. Same goes for any automatic payments — contact those companies to redirect them to a different account or cancel them. This prevents transactions from bouncing after the account is closed.
Closing by phone
Call Truist customer service at the number on the back of your debit card or on your statement. You can also find the number on the Truist website. Have your account number and a form of identification ready — the representative may ask you to verify information like your date of birth or the last four digits of your Social Security number.
Tell the representative you want to close your money market account. They will confirm your account balance and ask where you want the money to go. You can transfer it to another account at Truist, provide routing and account information for a different bank, or request a check mailed to your address on file. Once you've chosen, the representative will process the closure request and give you a confirmation number. Write this down.
The account will close within a few business days. You should receive a written confirmation in the mail. If you don't hear anything within two weeks, call back with your confirmation number and ask for a status update.
Closing in person at a Truist branch
Visit any Truist branch with a government-issued photo ID and your account number. Tell the teller you want to close your money market account. They will pull up your account, show you the balance, and ask where you want the money sent. You can transfer it to another Truist account on the spot, provide information for an external bank transfer, or request a check.
The teller will have you sign paperwork to authorize the closure. Keep a copy for your records. The account will close within a few business days, and you'll receive written confirmation by mail.
What to do if you can't access the account
If you've forgotten your online banking password or can't log in, call Truist customer service and they can reset it for you before you close the account. If the account has been inactive for a long time, Truist may have already closed it under their dormancy policy — the representative can tell you the status when you call.
If the account is overdrawn or has a negative balance, you'll need to bring it to zero before closure. You can deposit money to cover the negative balance, or Truist may deduct the amount owed from another account you have with them. Ask the representative how they want to handle it.
After the account is closed
Once the account is closed, you won't be able to use it. Any checks or debit cards linked to that account will stop working. If you still have checks or a debit card for the account, destroy them or contact Truist to request they be cancelled.
Keep the written confirmation you receive in the mail for your records. If you ever need proof that the account was closed on a certain date, you'll have it. If you notice any charges or activity on the account after the closure date, contact Truist when ready — this is unusual and may indicate fraud.
Frequently Asked Questions
Can I reopen a money market account after I close it?
Yes, you can open a new money market account with Truist at any time. However, if the account was closed due to inactivity or policy violations, there may be a waiting period or restrictions. Call Truist to ask about reopening before you close if you think you might want it back.
What happens if I have pending transactions when I close the account?
Pending transactions may fail or bounce after the account closes. Before you close, wait for all pending deposits and payments to clear, or contact the companies involved to redirect them to a different account. This prevents overdraft fees or failed payments.
Do I lose my transaction history after closing?
No. Truist keeps records of closed accounts for a set period. If you need a statement or transaction history after closure, you can request it by calling customer service. Keep your own copies of recent statements before you close.
How long does it take to receive my money after I request closure?
If you're transferring to another Truist account, it usually happens within one business day. If you're transferring to a different bank, it typically takes three to five business days. If you requested a check, it will be mailed to your address on file within a few business days.
Will closing the account affect my credit score?
No. Closing a deposit account like a money market account does not affect your credit score. Credit scores are based on credit accounts like credit cards and loans, not deposit accounts.