Yes, you can close your Wells Fargo savings account at any time
You can close a Wells Fargo savings account whenever you want, with no penalty or waiting period. Wells Fargo does not charge a fee to close the account, and you do not need a reason to do it. The process takes a few minutes if you do it in person at a branch, or you can handle it by phone or mail if that works better for your situation.
Before you close the account, make sure you have moved any money you want to keep to another account. Once the account is closed, Wells Fargo will not reopen it, so you will need to open a new one if you change your mind later.
Key Takeaways
- You can close your Wells Fargo savings account in person at any branch, by phone at 1-800-869-3557, or by mail with a signed letter.
- Withdraw or transfer any remaining balance before you close the account, because Wells Fargo will not reopen a closed account.
- If your account has a negative balance, you must pay it off before closing.
- The fastest method is visiting a branch in person with your ID, which takes about 10 minutes.
Closing your account in person at a Wells Fargo branch
Going to a branch is the quickest way to close your account. Bring your ID and your debit card or account number. Tell a teller you want to close your savings account. They will check your balance, process the closure, and give you a receipt.
If you have money in the account, the teller will ask how you want it handled. You can withdraw it in cash, transfer it to another Wells Fargo account, or have them send you a check. If you want the money transferred to an account at a different bank, you will need to do that yourself after the account closes — the teller cannot move it directly to another institution.
If your account has a negative balance (meaning you owe Wells Fargo money), you must pay that amount before they will close the account. Ask the teller what you owe and how to pay it.
Closing your account by phone
Call Wells Fargo at 1-800-869-3557 and tell them you want to close your savings account. Have your account number or the phone number associated with the account ready. They will verify your identity by asking security questions.
The representative will tell you your current balance and ask what you want to do with the money. You can request a check be mailed to you, or you can transfer the balance to another Wells Fargo account you own. If you have a negative balance, you will need to arrange payment over the phone or visit a branch to pay it in person.
After the call, the account will be closed within one to three business days. You will receive written confirmation in the mail.
Closing your account by mail
Write a letter to Wells Fargo requesting closure of your savings account. Include your full name, account number, the date, and your signature. Keep a copy for your records. Mail it to the address on your most recent statement or to your local Wells Fargo branch.
This method takes longer — usually one to two weeks for Wells Fargo to receive and process your letter, plus additional time for any check or confirmation to reach you. If you have a balance in the account, include instructions for how you want the money sent to you. If you have a negative balance, you will need to contact Wells Fargo by phone or in person to arrange payment.
What happens to your remaining balance
Any money left in your account when it closes will be returned to you. You choose how: as cash if you close in person, as a mailed check, or transferred to another Wells Fargo account you own. The process usually takes three to five business days after the account officially closes.
If you do not collect the money within a certain period (this varies by state, typically one to five years), Wells Fargo may turn it over to your state as unclaimed property. You can still recover it by contacting your state's unclaimed property office, but it is simpler to handle it when you close the account.
If you have a negative balance or outstanding fees
A negative balance means you owe Wells Fargo money — usually because of overdraft fees, returned checks, or other charges. You cannot close the account until you pay what you owe. The teller, phone representative, or Wells Fargo's letter response will tell you the exact amount.
Pay the balance by visiting a branch with cash or a debit card, by phone using a debit card or bank account, or by mail with a check. Once payment clears, you can proceed with closing the account.
Frequently Asked Questions
Will closing my savings account hurt my credit score?
No. Closing a savings account does not affect your credit score because savings accounts are not reported to credit bureaus. Only credit products like credit cards, loans, and lines of credit show up on your credit report.
Can I reopen a Wells Fargo savings account I closed?
You can open a new savings account with Wells Fargo, but you cannot reopen the same closed account. The old account number will not work again. Opening a new account takes a few minutes in person or online.
What if I have automatic payments or direct deposits set to this account?
Before you close the account, change any automatic payments or direct deposits to a different account. If a payment tries to go through after the account closes, it will be rejected and may trigger fees with the company trying to pay you.
How long does it take for the account to fully close?
In-person closures are when ready, though the account may take one business day to fully process in Wells Fargo's system. Phone and mail closures take one to three business days. You will receive written confirmation once it is complete.
Do I need to close my checking account too?
No. Your savings and checking accounts are separate. You can close one without affecting the other. If you want to close both, you will need to request closure for each account separately.