You can close a Chase savings account by phone, in person, or online, but the method depends on your account type and whether you have a balance
The fastest way to close a Chase savings account is to call Chase customer service at 1-800-935-9935. A representative will confirm your identity, check for any remaining balance, and process the closure. If you have money in the account, Chase will ask how you want it sent — by check, transfer to another bank account, or deposit to a different Chase account. The account closes when ready after the balance is handled.
You can also close the account in person at any Chase branch. Bring a photo ID and your account number or the card linked to the account. A banker will verify your identity, handle any remaining balance the same way, and close it on the spot. This method works well if you prefer to handle it face-to-face or if you have questions about where your money should go.
Online closure is available through Chase's website or mobile app, but only for certain account types. Log in, navigate to your account settings, and look for a "close account" or "account services" option. Not all savings accounts can be closed online — if you don't see the option, you'll need to use the phone or branch method.
Key Takeaways
- Phone closure at 1-800-935-9935 is the fastest method and works for all Chase savings account types.
- Chase will not close an account with a negative balance — you must pay any overdraft or fees before closure.
- Any remaining balance in the account must be moved before closure; Chase will not keep the money.
- Closing a savings account does not affect other Chase accounts you may have, such as a checking account.
- After closure, you will no longer earn interest on that account and cannot make deposits or withdrawals.
What happens to your money when you close
Before Chase will close your account, any balance must be removed. If you have $500 in the savings account, that $500 has to go somewhere — Chase will not hold it or transfer it without your instruction. You choose the destination when you call or visit the branch.
The most common options are a transfer to another Chase account you own (checking, another savings account, or money market account), a transfer to an external bank account, or a check mailed to your address. A transfer to another Chase account happens within one business day. A transfer to an external bank account takes one to three business days depending on your bank. A check is mailed within five to seven business days.
If your account has a negative balance — meaning you owe Chase money due to overdrafts or unpaid fees — you cannot close it until that balance is paid. You'll need to deposit funds to bring the account to zero or positive before closure can proceed.
Timing and what to expect after closure
Closure happens when ready when you process it by phone or in person. The account will no longer appear in your Chase online banking or mobile app within a few hours. You will not be able to make deposits or withdrawals after that point.
If you closed the account online, the closure may take up to one business day to complete. Chase will send a confirmation email to the address on file. Keep this confirmation for your records.
Any pending transactions — such as automatic bill payments or transfers you scheduled before closure — may still process if they were set to occur after the account closes. Contact Chase before closure if you have recurring payments linked to this savings account, so you can redirect them to another account or cancel them.
Reasons to close before you do
Closing a savings account stops you from earning interest on any balance you keep there. If you have money you plan to save, moving it to a higher-yield savings account at another bank or keeping it in a Chase savings account may make more financial sense. Compare interest rates before you close.
If you have a Chase checking account linked to this savings account for overdraft protection, closing the savings account removes that safety net. Overdraft protection transfers money from savings to checking if your checking account goes negative. After closure, overdrafts on your checking account will be declined or charged an overdraft fee instead.
Some Chase accounts have monthly maintenance fees that are waived if you keep a minimum balance or set up direct deposit. If you're closing because of fees, confirm whether your account qualifies for a waiver before you go through with closure — you may be able to avoid the fee instead.
If you want to reopen the account later
Chase allows you to reopen a closed savings account within a certain window, but the exact timeframe varies. Contact Chase at 1-800-935-9935 to ask whether your specific account can be reopened and whether any balance or activity requirements explore.
Reopening is not may provide. If your account was closed due to inactivity, fraud, or violation of Chase's account agreement, Chase may decline to reopen it. If you closed it yourself for your own reasons, reopening is usually possible, but you may need to meet the same requirements as a new account — such as an opening deposit.
Closing a joint account
If the savings account is held jointly with another person, both account holders must consent to closure. Call Chase or visit a branch with the other account holder present, or have them call separately to authorize closure. Chase will not close a joint account without confirmation from both parties.
When a joint account closes, any remaining balance is typically split according to how the account was titled. If the account was set up as "either party" (meaning either person can withdraw), Chase may ask both parties how to divide the balance. If it was set up as "joint tenants with rights of survivorship," the division depends on your agreement with the other account holder.
Frequently Asked Questions
Can I close my Chase savings account if I have a negative balance?
No. You must bring the account to zero or positive by depositing funds to cover the overdraft or fees. Once the balance is zero or above, you can proceed with closure.
Will closing my savings account affect my Chase checking account?
Closing a savings account does not close your checking account or any other Chase accounts. However, if you used the savings account for overdraft protection on your checking account, that protection ends when the savings account closes.
How long does it take to close a Chase savings account?
Closure by phone or in person is when ready. Online closure takes up to one business day. Your balance will be transferred or mailed according to your instructions, which takes one to seven business days depending on the method you choose.
What if I have automatic payments set up on this savings account?
Contact Chase before you close to cancel or redirect any recurring payments, bill pay, or transfers linked to the account. Pending transactions may still process after closure if they were scheduled before you closed.
Can I reopen a Chase savings account after I close it?
Reopening is often possible within a certain timeframe, but it depends on why the account was closed and Chase's policies. Contact Chase to ask whether your account can be reopened and what steps are required.