You can close a Chime savings account through the mobile app in under five minutes, and your money goes back to your linked checking account within one to three business days.
Chime does not charge a fee to close a savings account. The process is straightforward: you initiate the closure in the app, confirm you want to proceed, and any balance transfers automatically to your Chime checking account. You do not need to call customer service or visit a branch—the entire transaction happens on your phone.
The timing matters if you have pending transactions. Chime processes the transfer after any outstanding holds clear, so if you have a recent deposit on hold or a pending debit, the closure may take longer than the standard window. Once the account is closed, you cannot reopen it under the same account number, though you can create a new savings account later if you change your mind.
Key Takeaways
- Close your Chime savings account through the mobile app by navigating to Settings, selecting your savings account, and choosing the close account option.
- Any money in the savings account transfers to your Chime checking account automatically; the transfer typically completes within one to three business days.
- Chime does not charge a closure fee, and you do not need to contact support unless the transfer does not arrive within the stated timeframe.
- Once closed, the account number cannot be reused, but you can open a new Chime savings account in the future if you want one.
Steps to close your account through the Chime app
Open the Chime mobile app and log in with your credentials. Tap the menu icon (three horizontal lines) at the bottom right of the screen to access the main navigation.
Select Settings from the menu. Scroll down to the section labeled Accounts and tap on your savings account. You will see account details including your current balance and account number.
Look for the option labeled Close Account or Close Savings Account—the exact wording varies slightly by app version. Tap it. Chime will display a confirmation screen showing your current balance and reminding you that the account cannot be reopened under the same number. Confirm that you want to proceed. The app will show a completion message, and the closure is when ready on Chime's end.
Where your money goes and how long it takes
When you close your savings account, Chime automatically transfers your full balance to the checking account linked to your Chime profile. This is not a manual process—you do not choose where the money goes or initiate a separate transfer. The checking account must be active and in good standing for the transfer to process.
The transfer typically arrives within one to three business days. Weekends and federal holidays extend this window. If you closed your account on a Friday afternoon, for example, the money may not appear until Wednesday. Chime counts business days from the moment you confirm the closure, not from when you initiated the process.
If your checking account is also closed or frozen, contact Chime support before closing the savings account. Money cannot transfer to a closed account, and you will need to provide an alternative destination or resolve the checking account issue first.
What happens to pending transactions and holds
If you have a deposit on hold or a pending debit card transaction, Chime will not close the account until those items clear. A hold typically lasts three to five business days for checks or transfers from external banks. During this time, the close account option may be grayed out or the closure may be delayed after you confirm it.
Pending transactions—like a debit card purchase that has not yet posted—also block closure. The transaction must post to your account before the closure completes. If you are trying to close quickly, check your recent activity in the app and wait for any pending items to resolve first.
Once all holds and pending transactions clear, the closure processes automatically. You do not need to resubmit the request.
If the transfer does not arrive on time
Contact Chime support through the app if your balance has not appeared in your checking account after three business days. Open the app, go to Settings, and select Help & Support. Choose Contact Us and describe the issue. Chime support can trace the transfer and confirm whether it is still in progress or if there was a processing error.
Have your account closure date and the amount transferred ready when you contact support. If the transfer was rejected because your checking account was closed or flagged, Chime may ask you to provide an alternative account number or resolve the checking account status before reissuing the funds.
Reopening a Chime savings account later
You can open a new Chime savings account at any time after closing one. The new account will have a different account number. The process is the same as opening your first savings account: go to the Chime app, select Accounts, and tap Open Savings Account. There is no waiting period or penalty for reopening.
If you closed your account because of a specific issue—such as low interest rates or account fees—review Chime's current savings account terms before reopening. Chime occasionally updates its rates and features, so the account may work better for you the second time around.
Why you might want to close your savings account
Some people close Chime savings accounts because the interest rate is too low or because they prefer to keep savings elsewhere. Others close because they no longer use Chime for banking overall. A few close because they want to consolidate accounts or move to a different bank entirely.
If you are closing because of a service issue—such as a frozen account, a dispute, or a security concern—contact Chime support before closing. They may be able to resolve the problem without requiring you to close the account. If you are closing because you want higher interest rates, compare Chime's current rate to other online savings accounts before you go; rates change frequently and Chime may have updated theirs since you last checked.
Frequently Asked Questions
Do I lose money if I close my Chime savings account?
No. Your full balance transfers to your Chime checking account automatically. You do not lose any money, and Chime does not charge a closure fee. The only cost is if you incur overdraft fees on your checking account after the transfer arrives, but that is not related to closing the savings account.
Can I close my Chime savings account if I have a pending direct deposit?
A pending direct deposit does not prevent closure, but Chime will not process the closure until the deposit clears. If you initiate closure while a direct deposit is pending, the closure will complete once the deposit posts. The money from the direct deposit goes to your checking account along with your savings balance.
What if I close my savings account by mistake?
You cannot undo a closure once it is confirmed in the app. However, you can open a new Chime savings account when ready. The new account will have a different account number, but it functions the same way. There is no penalty or waiting period for reopening.
Will closing my savings account affect my Chime checking account?
No. Closing your savings account does not affect your checking account in any way. Your checking account remains active, and your balance transfers there from the savings account. You can continue using your debit card and direct deposits normally.
How do I close my Chime savings account if I cannot access the app?
Contact Chime support through the app's Help section or through the Chime website. You will need to verify your identity and account ownership. Support can initiate the closure for you, though the process may take longer than closing through the app yourself.