You can close a Chase savings account by phone, in person at a branch, or through the mail — the fastest way is usually a phone call to the number on the back of your card

Chase does not charge a fee to close a savings account, and you do not need a reason to do it. The process takes a few minutes if you call, or a few days if you do it by mail. Before you close, make sure you have moved any money you want to keep to another account, because once the account is closed, Chase will not reopen it.

You will need your account number and a form of ID to verify who you are. If you have a debit card linked to the account, bring it with you or have the number ready. If there is money still in the account when you close it, Chase will send it to you by check or transfer it to another account you name.

Key Takeaways

  • Call the customer service number on the back of your Chase card or visit a branch in person to close the account the same day.
  • Move any money you want to keep out of the account before closing, because Chase will not reopen it once it is shut.
  • If money remains in the account at closing, Chase will mail a check or transfer the funds to another account you provide.
  • Closing a Chase savings account does not affect your credit score or other Chase accounts you may have.

Closing by phone

Call the number on the back of your Chase debit card or savings account statement. You can also call Chase customer service at 1-800-935-9935. Tell the representative you want to close your savings account. They will ask for your account number and will verify your identity by asking for your Social Security number or other personal information.

The representative will confirm how much money is in the account and ask what you want to do with it. You can have them transfer the balance to another Chase account you own, transfer it to an account at a different bank, or have them mail you a check. The account will close when ready, though it may take a few business days for any pending transactions to clear.

Closing in person at a Chase branch

Visit any Chase branch with your ID and your debit card or account number. Tell a teller you want to close your savings account. They will verify your identity, confirm the balance, and ask where you want the money sent. You can walk out the same day with the account closed.

If you have a large balance, the teller may offer to transfer it to another account instead of giving you cash. This is faster and safer than carrying a large amount of money. If you want cash, the branch can usually provide it on the spot, though very large amounts may require advance notice.

Closing by mail

Write a letter to Chase requesting that your savings account be closed. Include your full name, account number, the date, and your signature. Mail it to the address on your account statement or to Chase's general mailing address for your region — you can find this on the Chase website or by calling customer service.

Include a copy of your ID with the letter. Chase will receive it, verify your identity, and close the account within one to two weeks. They will send any remaining balance to you by check or transfer it to another account if you provide those details in the letter. Keep a copy of your letter for your records.

What happens to money still in the account

If you close the account while there is money in it, you must tell Chase what to do with that balance. You have three main options: transfer it to another Chase account you own, transfer it to an account at a different bank, or have Chase mail you a check.

If you do not specify what to do with the money, Chase will contact you to ask. The money will not disappear — it is yours, and Chase will hold it until you tell them where to send it. If you move and Chase cannot reach you, they may turn the money over to your state's unclaimed property program after a set period, though you can always claim it later.

Reasons to close and what to do first

People close Chase savings accounts for many reasons: they are moving to a different bank, they no longer need a savings account, they want to consolidate accounts, or they are unhappy with the interest rate or fees. None of these require explanation to Chase — you can close the account without stating a reason.

Before you close, check your account for any pending transactions or automatic payments linked to it. If you have set up direct deposit or automatic bill payments from this account, you will need to change those to a different account first, or they will fail. Review your last few statements to make sure nothing is still being charged to this account. Once it is closed, you cannot reopen it, so make sure you have moved everything you need.

How closing affects your credit and other accounts

Closing a Chase savings account does not hurt your credit score. Savings accounts do not appear on your credit report the way credit cards or loans do, so closing one has no impact on your creditworthiness. You can close a savings account without affecting any other accounts you have with Chase, including checking accounts, credit cards, or loans.

If you have overdraft protection set up between your savings account and another account, closing the savings account will remove that protection. Make sure you understand what will happen to overdraft coverage on your other accounts before you close. If you have any questions, ask the Chase representative before you finalize the closure.

Frequently Asked Questions

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

No. Once you close a Chase savings account, the bank will not reopen it. If you want a savings account with Chase again in the future, you will need to open a new one, which will have a different account number. This is why it is important to make sure you have moved all your money and set up any automatic payments before you close.

What if I have a pending deposit or check that has not cleared yet?

Wait until all pending transactions have cleared before you close the account. You can check your recent activity on the Chase app or website to see what is still pending. If you close the account while a deposit is still processing, it may be rejected or delayed, and you could lose track of the money.

Do I need to close my account in person, or can I do it over the phone?

You can close by phone, mail, or in person — whichever is easiest for you. Phone is usually fastest because the account closes the same day. In person is also quick. By mail takes longer but works if you cannot visit a branch or make a phone call.

What if there is a negative balance or I owe Chase money?

You cannot close the account until any negative balance is paid. Contact Chase to find out how much you owe and pay it before you request closure. Once the balance is zero or positive, you can proceed with closing.

Will Chase send me a final statement after I close?

Chase will send you a final statement showing the account closure and any remaining balance. Keep this for your records. You can also view your account history on the Chase app or website for a period of time after closure, though eventually the account will no longer appear in your online banking.