The basic process: what happens when you close an account
Closing a bank account is straightforward. You contact your bank, confirm you want to close the account, withdraw or transfer any remaining money, and the bank stops charging fees and shuts down the account. Most banks let you do this in person, by phone, or online — it usually takes a few minutes to request and a few business days to complete.
The bank will not keep your money. Any balance in the account gets returned to you before the account closes. If you have automatic payments or direct deposits set up, those stop working once the account is closed, so you need to handle those separately first.
Key Takeaways
- Stop all automatic payments and direct deposits at least a week before closing, or redirect them to a new account.
- Withdraw cash or transfer your remaining balance to another account before you request the closure.
- Contact your bank by phone, in person, or through their website to request the closure — the method depends on your bank.
- Keep a record of the account number and the date you closed it in case questions come up later.
- If the account has a negative balance, you must pay what you owe before the bank will close it.
Stop automatic payments and direct deposits first
Before you close the account, you need to redirect anything that moves money in or out automatically. This includes paychecks, benefits deposits, bill payments, subscription charges, and insurance premiums. If you do not move these, they will fail once the account closes, and that can cause late fees, missed payments, or bounced checks.
For direct deposits (money coming in), contact your employer or the organization sending the money and give them your new account number. For automatic payments (money going out), log into each company's website or call them to update your payment method. Do this at least a week before you close the account so you can confirm the new setup is working.
If you are not sure what is set up on the account, log into your bank's website or app and look at recent transactions. Anything that repeats monthly is probably automatic. Your bank can also show you a list of recurring transactions if you ask.
Gather your remaining balance and any outstanding checks
Once automatic payments are moved, withdraw the money left in the account or transfer it to another account at the same bank or a different one. You can withdraw cash at an ATM or teller, or transfer the balance online if your bank offers that option.
If you have written checks that have not cleared yet, wait for them to process before closing the account, or contact the people you wrote them to and ask them to deposit the checks before a specific date. Once the account is closed, checks written on it will bounce, and that can create problems for both you and the person you wrote the check to.
Contact your bank to request the closure
You can close the account through whichever method your bank offers. Most banks let you close online through their website or app, by calling their customer service number, or by visiting a branch in person. The fastest way is usually online or by phone — in-person closures at a branch can take longer if the branch is busy.
When you contact the bank, have your account number ready. Tell them you want to close the account. They may ask why, but you do not have to give a reason. They will confirm the account balance one more time and ask how you want any remaining money sent to you — as a check, a transfer to another account, or cash if you are closing in person.
Some banks charge a fee to close an account early if you opened it recently (usually within the first 30 to 90 days). Ask about this before you request the closure. If there is a fee and you do not want to pay it, you can straightforward stop using the account instead of formally closing it, though the bank may eventually close it for inactivity.
Confirm the closure and keep your records
After you request the closure, the bank will give you a confirmation number or send you a confirmation email. Write down the date you requested the closure, your account number, and the confirmation number. Keep these for your records in case you need to prove the account is closed later.
The account usually closes within one to five business days. After that, you will not be able to use the debit card, write checks, or access the account online. If you are owed a refund or have a remaining balance, the bank will send it to you by check or transfer within that same timeframe.
What to do if the account has a negative balance
If you owe the bank money — because of overdraft fees, bounced checks, or other charges — you must pay what you owe before the bank will close the account. The bank will tell you the amount when you request the closure. You can pay by transferring money from another account, paying in person at a branch, or sending a check.
If you do not pay, the bank may send the debt to a collection agency, which can damage your credit and lead to legal action. It is better to pay the balance, even if it is small, so the account can close cleanly.
What happens to your debit card and checks
Once the account closes, your debit card will stop working. You do not have to do anything with the card — it will straightforward decline at checkout. If you want to, you can cut it up or throw it away. Some people keep it for their records.
Any checks you have left from that account will also stop working. If you have a box of unused checks, you can throw them away. Do not try to use them after the account closes — they will bounce, and the bank will charge you a fee.
Frequently Asked Questions
Can I close my account if I still owe the bank money?
No. You must pay any negative balance before the bank will close the account. The bank will tell you the amount owed when you request the closure. Once you pay it, the closure can proceed.
What if I close my account and then realize I need it?
You can open a new account at the same bank or a different one. However, if you closed the account because of a problem with the bank, opening a new one there may not solve it. Some banks also have policies about reopening accounts closed for cause, so ask before you try.
How long does it take for my money to arrive after I close the account?
If the bank is sending a check, it usually arrives within five to ten business days. If you requested a transfer to another account at the same bank, it may be available the next business day. Transfers to accounts at other banks typically take one to three business days.
Will closing my account hurt my credit score?
No. Closing a bank account does not affect your credit score. Credit scores are based on borrowing and repayment history, not on which accounts you have open or closed.
What if my bank keeps trying to charge me fees after I close the account?
Contact the bank and explain that the account is closed. Ask them to reverse any fees charged after the closure date. If they refuse, you can file a complaint with your state's banking regulator or the Consumer Financial Protection Bureau.