The basic steps to close your Wells Fargo savings account

You can close a Wells Fargo savings account by visiting a branch in person, calling their customer service line, or using online banking if the account has no balance. The fastest way is usually to go to a branch with your ID, because the banker can process it when ready and answer questions about what happens to any remaining money. If you have a balance, you'll need to decide whether to transfer it to another account or receive a check.

Before you close the account, make sure no automatic payments or direct deposits are still connected to it. If money is still flowing in or out, the bank may refuse to close it, or you could miss a payment. Check your recent statements to see what's been moving through the account in the last few months.

Key Takeaways

  • You can close your account in person at a Wells Fargo branch, by phone at 1-800-869-3557, or through online banking if the balance is zero.
  • Stop any automatic payments or direct deposits linked to the account before you close it, or the bank may delay the closure.
  • If you have money in the account, you can transfer it to another bank account or ask Wells Fargo to mail you a check.
  • The bank will send you written confirmation of the closure, usually within a few days.

Closing your account in person at a branch

Walking into a Wells Fargo branch with your ID is the most straightforward route. Tell the banker you want to close your savings account and bring your account number if you have it handy (it's on your debit card or statements). The banker will pull up your account, confirm the balance, and ask what you want to do with any money in it.

If your account has a zero balance, the banker can close it on the spot. If there's money in it, you can ask them to transfer it to another Wells Fargo account you own, transfer it to an account at a different bank, or mail you a check. A transfer to another Wells Fargo account usually happens the same day. A transfer to a different bank takes one to three business days. A check is mailed to your address on file and typically arrives within five to seven business days.

Ask the banker for written confirmation of the closure before you leave. This is your proof that the account is closed, which can matter if a payment bounces or a company tries to charge the account later.

Closing your account by phone

Call Wells Fargo customer service at 1-800-869-3557 and tell them you want to close your savings account. Have your account number and ID ready. The representative will verify your identity, confirm your balance, and walk you through where the money should go.

Phone closure takes a bit longer than in-person because you can't hand over documents or sign papers face-to-face. The representative may ask you to confirm your request in writing or may process it over the phone depending on your account type and balance. Ask them how long closure typically takes and whether they'll mail you confirmation. Write down the date, time, and representative's name in case you need to follow up.

Closing your account online

If your savings account has a zero balance, you may be able to close it through Wells Fargo's online banking portal. Log in, find your account settings, and look for a "close account" or "account management" option. Not all account types allow online closure, so if you don't see the option, you'll need to call or visit a branch instead.

Online closure is the fastest if it's available to you, but you won't get when ready confirmation. The bank will process the request and send you written confirmation by mail within a few business days. If you need proof of closure sooner, call customer service after you submit the online request.

What to do with money still in the account

Before you close the account, you need to move or withdraw any balance. Wells Fargo won't close an account with money in it. You have three main options: transfer to another Wells Fargo account you own, transfer to an account at a different bank, or receive a check.

A transfer to another Wells Fargo account is when ready or same-day. A transfer to a different bank requires the other bank's routing number and your account number there; it takes one to three business days. If you ask for a check, the bank mails it to your address on file. Don't close the account until the check arrives and you've cashed it, because once the account is closed, the bank may not be able to reissue a lost check as easily.

Stopping automatic payments and direct deposits first

Before you contact the bank, go through your recent statements and look for any money coming in or going out. Direct deposits from an employer, automatic bill payments, or transfers to other accounts will block closure. You need to stop these before you close the account.

To stop a direct deposit, contact your employer's payroll department and give them your new bank details if you're moving to a different account. To stop an automatic payment, contact the company you pay (your utility, credit card, loan servicer, etc.) and update your payment method. This usually takes a few days, so plan ahead. Once you've confirmed that nothing is flowing through the account anymore, you can proceed with closure.

After your account is closed

Wells Fargo will send you written confirmation of the closure by mail. Keep this letter for your records. If you closed the account in person, ask for a receipt before you leave the branch.

After closure, the account number is no longer active. If a company tries to charge the old account, the charge will be rejected. If you're owed a refund from a merchant or service, make sure you've updated your payment method with them before closing the account, or the refund may fail. If a refund does fail, contact the company and provide your new account details.

Frequently Asked Questions

Can I close my Wells Fargo savings account if I have a negative balance?

No. You must bring the account to zero or positive before closure. If you owe money, the bank will not close it. Pay the negative balance first, either by transferring money in from another account or by depositing cash at a branch.

What happens if I close my account and then a company tries to charge it?

The charge will be rejected because the account no longer exists. The company will receive a notice that the account is closed. Contact the company and provide your new payment method to avoid service interruption.

How long does it take Wells Fargo to close a savings account?

In-person closure at a branch is when ready if the balance is zero. Phone and online closure take one to five business days for the bank to process and mail you confirmation. Transfers of your balance to another bank take one to three additional business days.

Do I need to close my account in person, or can I do it remotely?

You can close by phone or online if your account balance is zero. In-person closure is fastest and gives you when ready written proof, but it's not required. Choose whichever method fits your schedule.

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 accounts like credit cards, loans, and lines of credit impact your credit history.