Closing a joint account requires both account holders to agree, and the process varies by bank
You cannot close a joint bank account alone. Both account holders must consent, either by visiting the bank together or by one person authorizing the other in writing. The bank will not close the account without confirmation from both parties, because both of you have legal rights to the money inside it.
The actual steps depend on your bank's procedures. Some banks let you close an account entirely online if both holders log in and confirm. Others require at least one person to visit a branch in person. A few banks will close a joint account by phone if both holders are on the call together, though this is less common.
Before you close the account, you need to decide what happens to the money. If the account holds a balance, you must withdraw it or transfer it somewhere else. If the account is overdrawn, you must pay the negative balance before closing. The bank will not close an account with money still in it or money still owed.
Key Takeaways
- Both account holders must consent to close a joint account; the bank will not proceed without confirmation from both parties.
- You must withdraw or transfer any remaining balance and pay any overdraft before the account can close.
- Contact your bank directly to learn whether you can close the account online, by phone with both holders present, or only in person at a branch.
- After closing, request written confirmation from the bank showing the account is closed and the final balance was zero.
- If one account holder refuses to close the account, you may be able to remove yourself as a signer, though this leaves the account open under the other person's name.
Steps to close the account with both account holders present
Start by contacting your bank to confirm what documentation and steps they require. Call the customer service number on the back of your debit card or visit the bank's website. Ask specifically whether both holders must be present in person, or whether you can close the account by phone or online with both parties confirming their identity.
If your bank requires an in-person visit, both account holders should go to a branch together. Bring a government-issued photo ID for each person. The bank representative will verify that both of you want to close the account, confirm the current balance, and process the closure. If there is money in the account, decide together whether to withdraw it as cash, transfer it to another account, or split it between two separate accounts.
If your bank allows phone or online closure, one person typically initiates the request while the other confirms it. The bank will send a confirmation email or letter to both account holders showing the account is closed and the final balance. Keep this document for your records.
What to do if one account holder will not agree to close the account
If the other person refuses to close the account, you have limited options. You cannot force closure without their consent. However, you can ask your bank whether you can remove yourself as a signer on the account. This is different from closing it—the account stays open, but you are no longer responsible for it and cannot access it.
Removing yourself as a signer requires the other account holder's permission in most cases, though some banks will let you remove yourself unilaterally if you visit a branch and provide written notice. After removal, the account becomes solely theirs, and they are responsible for any fees or overdrafts.
If the account is tied to a dispute—such as a divorce, separation, or inheritance—you may need a court order to force closure or to divide the money. A family law attorney or mediator can advise you on whether this is necessary in your situation.
Handling the money before you close
If the account has a positive balance, you and the other account holder must decide what to do with it. You can withdraw it all as cash, transfer it to separate accounts (each person taking their share), or leave some in a new individual account. The bank will not close the account until the balance is zero.
If the account is overdrawn—meaning it has a negative balance—you must deposit money to bring it to zero before closing. The bank will not close an account with an outstanding debt. If you and the other account holder dispute who owes the overdraft amount, you will need to settle that disagreement before the bank will proceed.
If the account earns interest or has pending deposits, ask the bank when those will post. Some banks process final interest or pending transactions after you request closure, which can delay the closing date by a few days.
Timing and what happens after closure
Most banks close a joint account within one to five business days after both holders consent and the balance reaches zero. Some banks process closures the same day you request them. Ask your bank for a specific timeline when you initiate the closure.
After the account closes, the bank will send a final statement showing the closure date and the final balance. This statement serves as proof that the account is closed. Keep it for your records, especially if the account was tied to automatic payments, direct deposits, or other financial arrangements.
If you had automatic payments or direct deposits set up on the joint account, you will need to update those with a new account number. Contact your employer, creditors, or service providers to redirect deposits and payments to a new individual account. Payments that attempt to post to the closed account will be rejected, which can result in late fees or missed payments.
Closing a joint account after death
If one account holder has died, the surviving account holder can close the account, but the process is different. You will need to provide the bank with a death certificate and proof that you are the surviving account holder. Some banks require a will or court order showing who has the right to the money.
If the account is part of an estate, the bank may freeze it temporarily while the estate is settled. The executor of the estate (named in the will) has the authority to close the account and distribute the money according to the will. If there is no will, state law determines who inherits the money, and the bank may require a court order before releasing it.
Contact the bank's estate or probate department to learn what documents they need. This process typically takes longer than a standard account closure because the bank must verify the death and confirm who has legal authority over the account.
Frequently Asked Questions
Can I close a joint account if the other person is unreachable?
Not without a court order. Banks require consent from both account holders. If the other person is missing, incapacitated, or refuses contact, you will need to pursue legal action through family court or probate court to force closure or to separate your ownership of the account. A lawyer can advise you on whether this is necessary.
What happens to automatic payments after the account closes?
Automatic payments and direct deposits will fail once the account closes. You must update your account information with your employer, creditors, and service providers before closure. If payments fail, you may face late fees or service interruptions. Contact each organization at least a week before the account closes.
Do I need to close the account in person, or can I do it online?
It depends on your bank. Some banks allow online or phone closure with both holders confirming their identity. Others require at least one person to visit a branch. Call your bank's customer service line or check their website to learn their specific process.
Will closing a joint account affect my credit score?
Closing a bank account does not directly affect your credit score. However, if the account has an outstanding overdraft or unpaid fee, that debt could be reported to a collection agency and damage your credit. Pay any negative balance before closure to avoid this.
What if there is a dispute over who owns the money in the account?
If you and the other account holder disagree about who owns the money or how to split it, the bank will not close the account until the dispute is resolved. You may need to pursue a civil lawsuit or mediation to settle the disagreement. Once resolved, both parties can consent to closure.