You can close a Wells Fargo savings account online through your account settings, but the bank will ask you where to send your remaining balance
Wells Fargo lets you close a savings account through their website or mobile app without visiting a branch. The process takes a few minutes, but you need to decide first where your money should go — either to another Wells Fargo account you own, or to an external bank account in your name.
Before you start, check your account balance and make sure you have paid any outstanding fees or charges. Wells Fargo will not close an account with a negative balance. If you have pending transactions or scheduled transfers, those will process before the closure takes effect.
Key Takeaways
- You must have a positive account balance and no pending transactions before Wells Fargo will close your savings account online.
- The bank requires you to transfer your remaining money to another Wells Fargo account or provide routing and account numbers for an external bank.
- Closing takes effect within one to three business days after you confirm the request through your online account.
- If you have direct deposits or automatic payments linked to the account, you should update those with your new account information before closing.
Steps to close your account through Wells Fargo's website
Log into your Wells Fargo account at wellsfargo.com using your username and password. Once you are signed in, look for the savings account you want to close in your account list on the dashboard.
Click on the account name or the settings icon next to it. You should see an option that says "Close Account" or "Account Services" — the exact wording depends on which version of the website you are using. Select that option.
Wells Fargo will show you your current balance and ask you to confirm that you want to close the account. You will then choose where to send the money. If you have another Wells Fargo checking or savings account, you can transfer the balance to that account by selecting it from a dropdown menu. If you want to send the money to a bank outside Wells Fargo, enter the routing number and account number for that bank.
Review the information you entered, then click "Confirm" or "Submit" to complete the request. You will see a confirmation number on screen — write this down or take a screenshot in case you need to reference it later.
Closing through the Wells Fargo mobile app
Open the Wells Fargo mobile app and sign in with your credentials. Tap on the savings account you want to close from your account list.
Look for a menu icon (usually three horizontal lines) or a settings gear icon in the upper right corner of the screen. Tap it and scroll down until you find "Close Account" or "Manage Account." Tap that option.
The app will show your balance and ask you to confirm the closure. Choose where to send your money using the same process as the website — either select another Wells Fargo account or enter routing and account numbers for an external bank. Confirm your choice and you will receive a confirmation number.
What happens to your money and when the account closes
Wells Fargo transfers your balance to the account you specified within one to three business days. If you chose another Wells Fargo account, the transfer usually happens within one business day. If you chose an external bank, it may take two to three business days because the money has to move through the banking system.
Your savings account will stop working once the closure is complete. You will not be able to make deposits or withdrawals, and the account will no longer appear in your online banking dashboard. If you have a debit card linked to this account, that card will stop working for this account.
Wells Fargo will send you a confirmation letter in the mail within a few days. Keep this letter for your records.
If you have direct deposits or automatic payments set up
Before you close the account, check whether any paychecks, government benefits, or other regular deposits go into this savings account. If they do, you need to update those with your new account information so the deposits do not fail.
Contact your employer's payroll department or the organization sending the deposit and give them your new account number and routing number. Do this at least a week before you close the savings account to make sure the change takes effect.
Similarly, if you have automatic bill payments or transfers set up from this savings account, update those with your new account information or cancel them before closing. If you do not, the payments may fail and you could face late fees.
What to do if you cannot close the account online
If the "Close Account" option does not appear in your online account or app, the account may have a hold on it, a negative balance, or pending transactions. Call Wells Fargo customer service at 1-800-869-3557 to find out why you cannot close it online.
You can also visit a Wells Fargo branch in person and ask a banker to close the account for you. Bring a photo ID and any account statements you have. The banker can close the account on the spot and handle the money transfer when ready.
If your account has been inactive for a long time, Wells Fargo may have frozen it or charged dormancy fees. Ask the customer service representative whether fees have been applied and whether those need to be paid before closure.
Frequently Asked Questions
Can I close my Wells Fargo savings account if it has a negative balance?
No. You must bring the balance to zero or positive before Wells Fargo will close the account. If your account is negative, deposit money to cover the balance first, then start the closure process.
What if I do not have another bank account to transfer the money to?
You can open a checking or savings account at another bank before you close your Wells Fargo account, then transfer the balance there. Alternatively, you can request a check from Wells Fargo by calling customer service, though this takes longer than an electronic transfer.
Will closing my savings account affect my credit score?
No. Closing a savings account does not show up on your credit report and will not change your credit score. Credit scores are based on credit accounts like credit cards and loans, not deposit accounts.
How long does it take for the account to fully close after I confirm online?
The closure usually takes effect within one to three business days. The money transfer happens first, and then the account closes. You will receive a confirmation letter in the mail within a few days after that.
Can I reopen a Wells Fargo savings account I just closed?
Yes, you can open a new savings account at Wells Fargo at any time. However, if you closed the account because of a problem with the bank, consider whether you want to bank with Wells Fargo before opening a new account.