Chase does not charge a fee to close a checking account
You can close a Chase checking account at no cost. Chase does not impose a closure fee, early termination fee, or any other charge for ending your account relationship with them. The process itself is free whether you close the account in person at a branch, by phone, or online.
What you may owe instead depends on your account history. If you have an outstanding balance (money you owe Chase), you will need to pay that. If you are closing because of overdraft fees or other charges already on your account, those remain your responsibility. But the act of closing the account itself carries no fee.
Key Takeaways
- Chase charges no fee to close a checking account, regardless of how long you have held it or how you choose to close it.
- You are responsible for paying any outstanding balance or fees already charged to the account before closure.
- Closing in person at a branch, by phone, or through Chase's website all cost the same: nothing.
- Chase may ask why you are closing, but you are not required to explain your reason.
- After closure, keep your final statement and any records of the account for at least one year in case you need to dispute a charge or verify a transaction.
How to close your Chase checking account
You have three ways to close: visit a Chase branch in person, call Chase customer service, or use Chase's online or mobile app. Each method is equally straightforward and costs nothing.
If you go to a branch, bring a photo ID and ask to speak with someone about closing your account. They will confirm your identity, review any remaining balance, and process the closure on the spot. If you have checks still outstanding (checks you wrote that have not yet cleared), Chase will typically keep the account open for a short period to allow those to process.
To close by phone, call the number on the back of your debit card or on your Chase statement. Have your account number and ID ready. The representative will walk you through the same steps: confirming your identity, checking for any pending transactions, and closing the account. This usually takes 10 to 15 minutes.
Online closure through the Chase app or website is available for some account types, though not all. Log in, look for account settings or account management, and follow the prompts. If the option does not appear, you will need to use the phone or branch method instead.
What happens to your money when you close
Any money remaining in your account will be returned to you. Chase will typically issue a check or transfer the funds to another account you provide. Ask the representative which option is available and how long it will take — usually a few business days for a check or one to two business days for a transfer.
If your account is overdrawn (you owe Chase money), you must pay that balance before or at the time of closure. Chase will not close an account with a negative balance. If you cannot pay when ready, you may need to wait until you can, or work out a payment plan with the bank.
Fees you might still owe even after closing
Closing the account does not erase fees you have already incurred. If you have overdraft fees, monthly maintenance fees that have not yet posted, or other charges on your account, you remain responsible for those. These are separate from the closure fee (which does not exist) and will be deducted from your remaining balance or billed to you afterward.
If you are closing because of repeated overdraft fees, understand that closing does not prevent Chase from reporting the account to ChexSystems, a banking history database that other banks check when you explore for a new account. The closure itself is free, but the history of overdrafts may affect your ability to open accounts elsewhere.
What to do before you close
Before you close, make sure all automatic payments and direct deposits tied to this account have been redirected. Contact your employer, benefits provider, or any service that deposits money to this account and give them your new account number if you are switching to another bank. Do the same for any bills you pay automatically from this account.
Check your recent statements for any pending transactions or checks you may have forgotten about. If you have written checks that have not cleared, ask Chase how long they will hold the account open to let those process. Some banks keep accounts open for 30 to 90 days for this reason.
Request a final statement or read your transaction history before closing. Keep this for your records for at least one year. If a charge appears on your credit report or if you need to dispute something later, you will want proof of when the account closed and what the final balance was.
Closing a Chase account does not affect your credit score
Closing a checking account has no direct impact on your credit score. Checking accounts do not appear on your credit report the way credit cards or loans do. Your credit history is built from credit accounts — credit cards, mortgages, auto loans, and similar products — not from deposit accounts.
However, if you close a checking account while you still owe Chase money (an overdraft or unpaid fee), that debt could be reported to a collection agency and appear on your credit report. The closure itself is not the problem; the unpaid debt is. Pay what you owe before closing, and your credit will not be affected.
If you want to reopen a closed Chase account
If you close your account and then change your mind, you may be able to reopen it within a certain window. Chase typically allows you to reopen a recently closed account without going through the full new account process, though policies vary by branch and account type. Call Chase or visit a branch and ask whether your account can be reopened.
If too much time has passed or if the account was closed due to fraud or violation of Chase's terms, you may not be able to reopen it. In that case, you would need to open a new account instead. There is no fee to open a new checking account with Chase, though some account types have monthly maintenance fees that you can avoid by meeting certain requirements (like maintaining a minimum balance or setting up direct deposit).
Frequently Asked Questions
Will Chase charge me a fee if I close my account within the first month?
No. Chase does not charge a closure fee at any point, whether you close after one month or ten years. Some banks penalize early closure, but Chase does not. You are free to close whenever you choose at no cost.
What if I have a negative balance when I try to close?
Chase will not close the account until the negative balance is paid. You must bring the account to zero or positive before closure can be completed. Once you pay what you owe, the closure process is free.
Can I close my Chase account online?
Some Chase accounts can be closed through the mobile app or website, but not all account types support this. If the option does not appear in your account settings, you will need to call or visit a branch instead. Both methods are free.
Do I need to give a reason why I am closing my account?
No. Chase may ask, but you are not required to explain. You can straightforward say you are closing the account and want to proceed. The reason does not affect the fee (which is zero) or the process.
How long does it take to close a Chase checking account?
In person or by phone, closure is usually completed in 10 to 30 minutes. Online closure, where available, is when ready. Any remaining funds are typically returned within a few business days, depending on whether you choose a check or transfer.