What happens when you close a Citizens savings account

When you close a Citizens savings account, the bank freezes the account so no new deposits or withdrawals can happen, pays out any remaining balance to you, and removes the account from your profile. The process takes a few days to a few weeks depending on whether you do it in person, by phone, or by mail. Citizens will not charge you a fee to close the account, though you may owe a balance if the account went negative.

The bank will send you a confirmation letter once the closure is complete. Any automatic transfers linked to that account will stop, so you need to update those before you close or shortly after. If you have a debit card tied to the savings account, it will stop working once the account closes.

Key Takeaways

  • You can close a Citizens savings account by visiting a branch in person, calling customer service at 1-800-922-9999, or mailing a written request to the address on your statement.
  • Withdraw or transfer any remaining balance before closing, or the bank will mail you a check within five to seven business days after the account closes.
  • Cancel or redirect any automatic payments, transfers, or direct deposits linked to the account before you close it to avoid failed transactions.
  • Citizens does not charge a fee to close a savings account, but you are responsible for any negative balance or outstanding fees on the account.

Closing in person at a Citizens branch

Walk into any Citizens Bank branch with a valid photo ID and ask to close your savings account. Bring your account number if you have it, though the teller can look it up by your name and ID. The teller will confirm your identity, show you the current balance, and ask how you want to receive the money—as a check, a transfer to another account, or cash if the balance is small.

If you close in person, the account typically closes that same day. The teller will give you a receipt and tell you when to expect any check in the mail. Ask the teller to confirm that all automatic transfers and payments have been removed from the account before you leave.

Closing by phone with Citizens customer service

Call Citizens customer service at 1-800-922-9999 during business hours. Have your account number and a photo ID ready. The representative will verify your identity by asking security questions, confirm the account balance, and ask how you want the remaining money sent to you.

Phone closures take longer than in-person ones because the bank needs to process the request through their system. Expect the account to close within three to five business days. The representative will give you a confirmation number and tell you when to expect a check or transfer. Write down the confirmation number in case you need to follow up.

Closing by mail

Write a letter to Citizens requesting to close your savings account. Include your full name, account number, the date, and your signature. Keep the letter brief—one paragraph is enough. Mail it to the address listed on your most recent statement or on the Citizens website under "Contact Us."

Closing by mail is the slowest method. The bank needs time to receive your letter, process it, and send you confirmation. Plan for two to three weeks from the time you mail the letter to the time the account actually closes. During this period, do not make any deposits or withdrawals from the account. Once the bank receives your request, they will mail you a check for any remaining balance within five to seven business days after closure.

What to do with automatic payments and transfers before closing

Before you close the account, log into your Citizens online banking or call customer service to see what automatic transactions are linked to the savings account. This includes direct deposits from your employer, automatic bill payments, transfers to other accounts, and subscription charges.

For each automatic transaction, either cancel it or redirect it to another account you plan to keep open. If you miss this step and the bank tries to process an automatic payment after the account closes, the payment will fail and you may face overdraft fees or late payment penalties from the company you owe money to. Give yourself at least one week before closing to make these changes and confirm they have taken effect.

Handling your remaining balance

Check your account balance before you close. You can do this online, by calling customer service, or by visiting a branch. If the balance is positive, you have three options: take it as cash in person, have the bank mail you a check, or transfer it to another bank account you own.

If you choose a check, the bank will mail it within five to seven business days after the account closes. If you choose a transfer to another account, provide the bank with the account number and routing number of the receiving bank. If the balance is negative—meaning you owe the bank money—you must pay that amount before the account can close, or the bank will deduct it from another account you have with Citizens.

After your account closes

Once the account is closed, you will receive a confirmation letter from Citizens in the mail. Keep this letter for your records. The account will no longer appear in your online banking profile, and any debit card or checks tied to that account will stop working.

If you realize you need to reopen the account or if you have questions about the closure, contact Citizens customer service within 30 days. After 30 days, reopening the account becomes more difficult. If you closed the account because of a problem with the bank or a fee you disagreed with, you can file a complaint with the Consumer Financial Protection Bureau (CFPB) at consumerfinance.gov.

Frequently Asked Questions

Do I have to close the account in person?

No. You can close by phone, mail, or in person. Phone and mail take longer than visiting a branch, but all three methods are free and require no special reason to close.

What if I have a negative balance when I try to close?

You must pay the negative balance before the account closes. Citizens will either deduct it from another account you have with the bank or ask you to pay it directly. The bank will not close the account until the balance is settled.

Can I reopen a Citizens savings account after I close it?

Yes, but it is easier within 30 days of closing. After 30 days, Citizens may treat it as a new account and require you to go through the full opening process again, including identity verification and a new process.

What happens to my debit card when I close the savings account?

If the debit card was tied only to the savings account, it will stop working once the account closes. If the card is linked to a checking account as well, it will continue to work for the checking account.

How long does it take to get my money after I close?

If you close in person and take cash, you get it when ready. If you request a check, expect it within five to seven business days after closure. If you request a transfer to another bank, it typically takes one to three business days depending on the receiving bank.