Yes, you can close a Chase checking or savings account at any time, with no penalty
Chase does not charge a fee to close either a checking or savings account, and you do not need a reason to do it. You can close one account and keep the other, or close both. The process takes a few minutes if you do it in person at a branch, or longer if you handle it by phone or mail — but there are real steps you need to follow to avoid problems later.
The main thing to know: closing the account does not automatically move your money out or stop transactions. You have to move the balance yourself, and you have to make sure no automatic payments or direct deposits are still tied to that account number. If you skip either step, you will face overdraft fees, bounced payments, or both.
Key Takeaways
- You can close a Chase checking or savings account in person at a branch, by phone at 1-800-935-9935, or by mail — all methods are free and take effect within one to three business days.
- Before you close, move your remaining balance to another account and update any automatic payments, direct deposits, or bill pay that use the account number you are closing.
- Chase will not automatically return funds or stop transactions when you close, so you must do this yourself or face overdraft fees on transactions that arrive after closure.
- If you have a negative balance when you close, Chase will pursue collection on the debt even after the account is closed.
What happens to your money when you close
Your balance does not disappear when you close the account. Chase will hold the money in that account for a set period — usually 30 to 60 days — before sending it to you by check if you have not claimed it. You can avoid this delay by withdrawing the balance yourself before you close, or by asking Chase to transfer it to another account you own at the time of closure.
If your account is overdrawn (you owe Chase money), closing does not erase the debt. Chase will continue to pursue collection and may charge overdraft fees until the balance is paid. Closing the account actually makes this harder to resolve, because you lose the ability to deposit funds into it. Pay any negative balance before you close.
Stop automatic payments and direct deposits first
This is the step that causes the most problems. If you close an account that still has automatic bill payments or direct deposits attached to it, those transactions will bounce or be rejected. Your bills may go unpaid, your employer's deposit may fail, and you will face overdraft fees on the closed account if Chase tries to process a transaction after closure.
Before you close, log into your Chase account online and review the "Transfers & Payments" or "Bill Pay" section. Look for any recurring payments set to that account. Update them to point to a different account, or cancel them if you no longer need them. Then contact your employer, benefits provider, or any other source of direct deposits and give them your new account number. This usually takes one to two pay cycles to take effect, so do it at least a week before you close the account.
If you are not sure whether anything is still tied to the account, call Chase at 1-800-935-9935 and ask them to review it with you. They can see what is pending and help you update it before closure.
Three ways to close your account
| Method | How it works | Time to close | Best for |
|---|---|---|---|
| In person at a branch | Bring your ID and account number. A banker will process the closure, withdraw your balance in cash or check, and confirm closure on the spot. | Same day | Accounts with a balance you want to withdraw when ready, or if you want written confirmation. |
| Phone: 1-800-935-9935 | Call the number on the back of your debit card or on your statement. Verify your identity, confirm the account to close, and ask for written confirmation by mail. | One to three business days | Accounts with a small balance or if you prefer not to visit a branch. |
| Write a letter to Chase requesting closure, include your account number and signature, and mail it to the address on your statement. Chase will confirm by mail. | Five to ten business days | If you have no urgent need to close, or if you want a paper trail. |
Whichever method you choose, ask Chase to send you written confirmation of the closure. Keep this confirmation for your records — it proves the account is closed if a transaction arrives later or if you need to dispute a charge.
What to do if you still owe Chase money
If your account has a negative balance, Chase will not let you close it until you pay what you owe. You can deposit funds to bring the balance to zero, or you can ask Chase to deduct the amount owed from another account you have with them. If you do not pay, the debt remains active and Chase can report it to a collection agency or pursue legal action.
If you have already closed the account and later discover you owe money, contact Chase when ready. The debt does not go away, and the longer you wait, the more likely it is to be reported to a credit bureau or sent to collections. Call 1-800-935-9935 and ask to speak with someone in the collections or resolution department.
After your account closes: what to expect
Once Chase processes the closure, the account number becomes inactive. Any transaction that arrives after that date — a check you forgot about, a subscription charge, a bill payment — will be rejected. The sender will receive a notice that the account is closed, and you may face a late fee or service interruption depending on what the transaction was.
For this reason, wait at least one to two weeks after you close before you assume all pending transactions have cleared. If you are closing because you are switching banks, keep the Chase account open for at least 30 days after you have moved all your direct deposits and payments to the new bank. This gives you a buffer if something arrives late.
Chase will keep records of the closed account for seven years. If you need a statement or proof of a transaction from that account, you can request it by calling 1-800-935-9935 or visiting a branch, even after closure.
Closing one account without closing the other
If you have both a checking and savings account with Chase, you can close just one. The process is the same — you specify which account to close, and the other remains open. This is useful if you want to keep a savings account for emergency funds but close a checking account you no longer use.
Be careful if you have linked the two accounts for overdraft protection. If you close the checking account, overdraft protection stops working, and any transaction that would overdraw the checking account will be declined instead. If you close the savings account, you lose the backup source of funds. Ask Chase which account is the primary and which is the backup before you close either one.
Frequently Asked Questions
Do I lose my debit card when I close the account?
Yes. Your debit card is tied to the account number, and it will stop working as soon as the account closes. Destroy the card or cut it up so it cannot be used. If you have set up online bill pay or stored the card number with merchants, update those to use a different payment method before you close.
What if I close my account and then a check I wrote arrives at the bank?
The check will be rejected and marked "account closed." The person or business who received it will be notified, and they may charge you a returned check fee. For this reason, wait at least 30 days after closing before you assume all checks have cleared, and consider stopping payment on any checks you are unsure about before you close.
Can I reopen a closed Chase account?
Chase does not automatically reopen closed accounts. If you want to use Chase again, you will need to open a new account. However, if you closed very recently (usually within 24 hours), you may be able to call and ask them to reverse the closure before it fully processes.
Will closing my account hurt my credit score?
Closing a checking or savings account does not directly affect your credit score, because these accounts do not appear on your credit report. However, if you close an account with a negative balance and do not pay it, the debt can be reported to credit bureaus and will damage your score.
What if I close my account but Chase still tries to charge me a fee?
If you are charged a fee after closure, call 1-800-935-9935 and explain that the account is closed. Ask them to reverse the fee. If they refuse, file a complaint with the Consumer Financial Protection Bureau (CFPB) at consumerfinance.gov. Include your account number, the date you closed, and proof of closure.