The basic steps to close a joint account
To close a joint checking account, both account holders must agree and contact the bank together, or one account holder can initiate the closure alone if the bank allows it—but the other holder will be notified. The exact process depends on your bank and whether the account has a balance remaining.
Start by visiting your bank in person, calling their customer service line, or logging into your online banking portal. Most banks let you request closure through any of these channels, though some require an in-person visit if there are complications or if the account has outstanding checks or pending transactions. Ask the bank representative what documents you'll need and whether both account holders must be present.
Before you close the account, you need to settle what's in it. If there's money left, the bank will either send you a check, transfer the funds to another account you specify, or split the balance between the two account holders if you request it. If the account is overdrawn or has fees owed, those must be paid before closure.
Key Takeaways
- Both account holders should agree to close the account, though one person can initiate closure and the other will be notified by the bank.
- You must settle any remaining balance, pending checks, or outstanding fees before the account can be closed.
- Redirect any automatic deposits or payments that use the joint account to a different account at least a week before closure.
- Request written confirmation of the closure from your bank and keep it for your records.
- The closure typically takes three to five business days after you submit the request, though some banks process it when ready.
Redirect automatic payments and deposits before you close
Any paycheck, government payment, or automatic deposit that goes to the joint account will bounce or be rejected once the account closes. Contact your employer, benefits administrator, or any organization that deposits money into the account and update your banking information at least seven to ten days before the closure date.
Do the same for automatic bill payments, subscription services, or transfers you've set up to come out of the joint account. Log into each service's website or call them directly to change the account number or routing information. If you miss one, the payment will fail and may trigger a late fee or service interruption.
Check your bank statements from the past three months to find every automatic transaction—both deposits and withdrawals. Write them down. This is the most common reason closures get delayed: a pending transaction arrives after you've requested closure, and the bank has to hold the account open to process it.
Handle outstanding checks and pending transactions
If you've written checks on the joint account that haven't cleared yet, those checks will bounce when the account closes. Contact anyone you wrote a check to and ask whether they've deposited it. If they have, the check will fail and they'll be charged a fee by their bank.
The safest approach is to wait until all checks have cleared before requesting closure. You can see pending checks in your online banking portal or by calling the bank. Some banks will hold an account open for 30 to 90 days after you request closure specifically to clear outstanding checks, but don't rely on this—confirm the bank's policy first.
If a check is still outstanding and you're closing the account anyway, ask the bank whether they'll honor it from a holding account or whether you need to issue a new check from a different account. Get this in writing.
Decide how to split the remaining balance
If the account has money in it, you and the other account holder need to decide what happens to it. The most straightforward option is to split it equally and have the bank transfer each person's share to their individual account. You'll need to provide the bank with the account number and routing number for each person's separate account.
Alternatively, one person can keep the full balance and the other receives nothing—but this requires written agreement from both parties, and some banks will ask you to document this. If you can't agree on how to split the money, the bank may freeze the account until you provide written instructions signed by both account holders.
If the account is overdrawn, both account holders are typically responsible for the negative balance. The bank may deduct the full amount from one person's account or split the debt. Confirm the bank's policy before closure.
What happens if one account holder wants to close and the other doesn't
A joint account belongs to both people equally, so either account holder can request closure without the other's permission. When one person initiates closure, the bank will notify the other account holder—usually by mail to the address on file—that the account is being closed.
The other account holder can contact the bank and request that the closure be stopped, but the bank's response depends on their policies. Some banks will honor a request to keep the account open if both parties contact them; others will proceed with closure if one person has requested it. Call your bank and ask what their policy is before you request closure.
If you're the account holder who doesn't want the account closed, contact the bank when ready when you receive the closure notice. Explain that you still use the account and ask them to halt the process. Have the other account holder's contact information ready in case the bank needs to verify the situation with both of you.
Get written confirmation and update your records
After the bank processes your closure request, ask for a written confirmation letter that includes the account number, the closure date, the final balance, and how any remaining funds were distributed. Keep this letter with your financial records for at least three years.
The confirmation letter protects you if a transaction arrives after closure or if there's a dispute about the final balance. If the bank closes the account but doesn't send you written confirmation, request it in writing—email or a letter—and keep a copy of your request.
Update your own records to reflect that the account is closed. Remove it from your list of active accounts, and if you were using it to track shared expenses or household finances, set up a new system with the other account holder or move to individual accounts.
Timing and what to expect during the closure process
Most banks process account closures within three to five business days of your request. Some close accounts when ready if there are no pending transactions. During this window, the account remains open but you typically cannot make new deposits or withdrawals—the bank is just clearing any outstanding items.
If the account has pending checks or automatic transactions, the bank may keep it open longer. They'll notify you if this happens. Once all transactions have cleared and the balance is settled, the account is officially closed and you'll receive your confirmation.
If you close the account in person at a branch, ask the representative to process it when ready and provide you with a receipt. If you close it by phone or online, follow up in writing to confirm the request was received, especially if the account has a balance or outstanding checks.
Frequently Asked Questions
Can I close a joint account if the other person won't sign anything?
Yes. Either account holder can request closure without the other's consent. The bank will notify the other person that the account is being closed. If they object, contact the bank to discuss their options, but most banks will proceed with closure if one authorized user requests it.
What if there's a dispute about how to split the money?
The bank will not close the account until both account holders provide written instructions on how to divide the balance. If you cannot agree, you may need to involve a lawyer or mediator. The bank can freeze the account indefinitely while the dispute is resolved.
Will closing a joint account hurt my credit?
No. Closing a checking account does not affect your credit score. Credit bureaus track credit accounts like credit cards and loans, not deposit accounts. The closure will appear on your banking history, but this is not reported to credit agencies.
What if I close the account but a check comes in after closure?
The check will be returned to the person who wrote it, marked "account closed." They'll be charged a fee by their bank. This is why you should wait for all checks to clear or contact everyone you wrote checks to before requesting closure.
Do both people have to be present to close the account?
Not always. Many banks allow one account holder to request closure by phone or online. However, if there's a balance or dispute, the bank may require both people to be present or to provide written consent. Call your bank to ask about their specific requirements.