You can close a Chase savings account online, by phone, or in person at a branch
Chase lets you close a savings account through three routes: their mobile app or website (fastest), a phone call to customer service, or walking into a branch. You do not need a reason, and there is no penalty for closing. The main thing to handle first is moving any money out—decide whether you want it transferred to another account or sent as a check—because once the account closes, you cannot deposit or withdraw from it.
Before you start, check your account balance and make sure you have no pending transactions. If you have a Chase debit card tied to this savings account, that card will stop working once the account closes. If you have overdraft protection linked between this savings account and a checking account, that link will break.
Key Takeaways
- You can close your Chase savings account online, by phone, or at a branch without penalty or waiting period.
- Move your money out first by transferring it to another bank account or requesting a check.
- Any debit card or overdraft protection tied to the savings account will stop working after closure.
- The online method is fastest and requires no phone call or branch visit.
- Chase will send you written confirmation of the closure, which you should keep for your records.
Closing your account online or through the Chase app
Log into your Chase account on their website or mobile app and navigate to the savings account you want to close. Look for a settings or account options menu—the exact location varies slightly between the website and app, but it is usually marked as "Account Settings" or "Manage Account." Select the option to close the account.
Chase will ask you to confirm that you want to close it and may ask why (though the answer is optional). If your account has a balance, you will need to tell Chase where to send the money: to another Chase account you own, to an external bank account, or as a check mailed to your address. Once you confirm, the account closes when ready, though it may take a few business days for any transfer to land in the receiving account.
Closing by phone with Chase customer service
Call Chase customer service at the number on the back of your debit card or on your account statement. Tell them you want to close your savings account and have your account number ready. The representative will confirm your identity, ask where you want your balance sent, and process the closure over the phone.
This method takes about 10 to 15 minutes. Chase will mail you a confirmation letter within one to two weeks. Keep this letter—it proves the account is closed and can help if a charge or hold appears on the account later.
Closing at a Chase branch in person
Bring a government-issued ID and go to any Chase branch. Tell a representative you want to close your savings account. They will verify your identity, confirm your account balance, and ask where you want the money sent. If your balance is under a certain amount (usually a few hundred dollars), they can give you cash on the spot. Otherwise, they will process a transfer or mail a check.
Branch closure is useful if you have questions about linked accounts or if you want to handle everything face-to-face, but it takes longer than online or phone because you have to travel and wait for an available representative.
What happens to your money and linked services
If you request a transfer to another account, Chase will move the money within one to three business days. If you request a check, Chase will mail it to your address on file; this takes five to seven business days. You can also ask for the money to be transferred to a different bank account, though you will need to provide the routing number and account number.
Any automatic transfers set up from this savings account will stop. If you have a debit card linked only to this savings account, it will be deactivated. If the card is linked to a checking account as well, it will still work but will draw from the checking account instead. Overdraft protection between this savings account and another account will be removed.
After your account closes
Chase will send you a written confirmation of the closure. This usually arrives within one to two weeks. Keep it with your records. The account will no longer appear in your online banking dashboard, though Chase keeps a record of closed accounts for their own purposes.
If a charge or hold appears on the account after closure, contact Chase when ready with your confirmation letter. Closed accounts can sometimes receive stray transactions, and Chase needs to reverse them. If you set up automatic bill payments or direct deposits to this account, you will need to update those with your new account information before the closure is final, or those payments will fail.
Frequently Asked Questions
Can I reopen a Chase savings account I just closed?
Yes. You can open a new savings account at any time through the same methods you used to close the old one. Chase does not penalize you for closing and reopening. However, if you closed the account because of a problem—like repeated overdrafts or a dispute—contact Chase first to understand what caused the issue.
What if my account has a negative balance?
Chase will not let you close an account with a negative balance. You must deposit enough money to bring it to zero or positive before you can close it. If you are unsure of your exact balance, call Chase or check your account online.
Do I lose my transaction history after closing?
No. Chase keeps records of closed accounts for seven years. You can request a copy of your statements or transaction history by calling customer service or visiting a branch, even after the account is closed. This is useful for tax records or disputes.
Will closing my savings account hurt my credit score?
No. Closing a savings account does not affect your credit because savings accounts are not reported to credit bureaus. Only credit products like credit cards, loans, and lines of credit appear on your credit report.
What if I have a pending check or transfer to this account?
Do not close the account until pending transactions clear. If a check or transfer is in flight, it will bounce or fail after the account closes, and you will have to contact the sender to reissue it. Wait until your account statement shows all transactions are complete, then close.