You can close a Chase savings account through the mobile app, the website, or by phone, but the online route has limits
Chase does not let you close a savings account entirely through their website or mobile app. You can initiate the closure online, but you will need to either transfer your remaining balance to another account first or call Chase to complete the process. If your account has a zero balance, you can request closure through the app or website and Chase will handle it. If there is money in the account, you must move it before closing, or speak to a representative who can walk you through the final steps.
The fastest path depends on whether you have another Chase account to move money into. If you do, the whole process takes about five minutes. If you do not, you will spend time either setting up an external transfer or waiting on hold.
Key Takeaways
- Chase savings accounts with a zero balance can be closed through the mobile app or website by selecting the account and choosing the close option.
- If your account has money in it, you must transfer the balance to another account before Chase will close it online.
- You can transfer funds to another Chase account when ready through the app, or to an external bank account in one to three business days.
- If you want to close the account and keep the money, you will need to call Chase at the number on the back of your debit card rather than completing the process online.
Closing through the Chase mobile app
Open the Chase Mobile app and sign in. Tap the account you want to close. Scroll down and look for a menu option — this is usually three dots or lines in the upper right corner of the account details screen. Select "Close account" or "Account settings" and then "Close this account."
Chase will show you the current balance. If it is zero, you can confirm closure and the account will close within one to three business days. If there is money in the account, the app will not let you proceed. You will see a message telling you to transfer the balance first.
To transfer money within the app, go to the Transfers tab, select "Transfer money," choose the account you are transferring from, and pick the destination account. You can send money to another Chase account when ready, or to an external bank account (which takes one to three business days). Once the balance hits zero, return to the account settings and complete the closure.
Closing through Chase.com
Log into your Chase account on the website. Click on the savings account you want to close. Look for "Account services" or a settings menu, usually near the top right of the page. Select "Close account."
Chase will display your current balance. If it is zero, confirm the closure request. If there is money in the account, you will need to transfer it first. Use the "Transfer funds" option in the Transfers section of the website to move money to another account, then return to close the account once the balance is zero.
The website closure process works the same way as the app: zero balance required, and the account closes within one to three business days after you confirm.
Transferring your balance before closing
If you are moving money to another Chase account you own, the transfer is when ready and free. Go to Transfers, select the savings account as the source, pick the destination account, enter the amount, and confirm. The money appears in the other account when ready.
If you are transferring to a bank outside Chase, the process takes one to three business days. Chase calls this an external transfer. You will need the routing number and account number of the receiving bank. You can set this up in the Transfers section by adding the external account first, then initiating the transfer. Chase charges no fee for outgoing transfers.
If you want to withdraw the money as cash instead, you can visit a Chase branch with your ID and withdraw the full balance, then close the account online once it reaches zero.
When you need to call Chase instead
Call Chase if you want to close the account but keep the money and do not want to set up a transfer yourself. A representative can walk you through moving the balance or discuss other options. The number is on the back of your Chase debit card, or you can find it on Chase.com under "Contact Us."
You may also need to call if you encounter an error message when trying to close the account online, or if the account has a hold or restriction on it. Chase customer service can see flags that the app and website do not display and can explain what is blocking the closure.
Wait times vary by time of day and day of week. Calling early in the morning on a weekday usually means shorter holds than calling in the afternoon or on weekends.
What happens after you request closure
Once you confirm the closure request, Chase processes it within one to three business days. You will not be able to use the account during this time, though the card linked to it may still work for a few days. Do not set up any automatic payments or direct deposits to this account after you request closure.
Chase will send a confirmation email once the account is fully closed. Keep this email for your records. If you need proof of closure for tax purposes or another reason, you can contact Chase later and request a closure letter.
If you had overdraft protection linked to this savings account, closing it will remove that protection from any checking account it was tied to. Make sure you understand what will happen to your overdraft coverage before you close.
Frequently Asked Questions
Can I close my Chase savings account if it has a negative balance?
No. You must bring the account to zero or positive before closing. If the balance is negative, you owe Chase money. Contact Chase to discuss a payment plan or how to settle the debt before attempting to close the account.
Will closing my savings account affect my Chase checking account?
Closing a savings account does not affect a checking account. They are separate. However, if you had overdraft protection set up between them, closing the savings account will remove that protection from your checking account.
How long does it take for a Chase savings account to fully close?
One to three business days after you confirm the closure request online or by phone. Weekends and holidays do not count as business days, so a closure request made on Friday may not complete until Tuesday.
What if I change my mind after requesting closure?
Contact Chase when ready by phone. If the account has not fully closed yet, a representative can cancel the closure request and reactivate the account. Once the account is fully closed, you will need to open a new savings account.
Do I need to close my debit card when I close my savings account?
No. Your debit card is tied to your checking account, not your savings account. Closing savings does not affect the card. You can keep using it as long as your checking account remains open.