You can close a checking account at any time, but the bank may charge a fee if you close it within a certain window
Yes, you can close a checking account whenever you want. Banks cannot force you to keep an account open. However, some banks charge an early closure fee if you close the account within a set period — often 90 days to six months after opening it. The fee typically ranges from $25 to $100, depending on the bank. If your account is past that window, most banks let you close it with no penalty.
Before you close, you need to handle three things: clear out any remaining balance, set up a new way to receive deposits if you have direct deposit, and make sure no automatic payments are still pulling from the account. If you skip these steps, your bank may return payments as unpaid, which can damage your credit or trigger overdraft fees at the receiving end.
The actual closing process takes minutes in person or on the phone, but the money movement can take a few days. If you have a balance, the bank will either send you a check, transfer it to another account you name, or let you withdraw it in cash.
Key Takeaways
- Most banks charge an early closure fee ($25 to $100) only if you close within 90 days to six months of opening; after that window, closing is free.
- You must stop any automatic payments or transfers linked to the account before closing, or they will be returned unpaid.
- If you have direct deposit set up, change it to a new account before closing, or your next paycheck will be rejected.
- Closing takes a few minutes, but receiving your remaining balance by check or transfer can take three to five business days.
- Some banks let you close online or by phone; others require you to visit a branch in person.
What to do before you close: the three-step checklist
Start by stopping all automatic payments and transfers. Log into your account and look for any recurring charges — subscriptions, gym memberships, insurance premiums, loan payments, or transfers to savings. Call the companies directly and tell them you are closing the account, then ask them for the new account number where they should send the bill. Do not rely on the company to update it on their own; many will not, and your payment will bounce.
Next, change your direct deposit. If your paycheck, benefits, or other regular income goes to this account, contact your employer's payroll department or the benefits office and give them your new account number and routing number. This usually takes one to two pay cycles to take effect, so do it at least a week before you close the account. If you close before the change goes through, your deposit will be rejected and you may face a delay in receiving your money.
Finally, withdraw or transfer your remaining balance. Check your account balance online or by calling the bank. If there is money left, you can transfer it to another account you own at the same bank or a different one, request a check, or withdraw it in cash. If you request a check, ask the bank how long it takes to arrive — usually three to five business days.
How to close the account: in person, by phone, or online
The method depends on your bank. Many large banks let you close online through their website or app — look for an account settings or account management section. Some require a phone call to customer service; have your account number and ID ready. A few banks still require you to close in person at a branch, though this is becoming less common.
When you close, the bank will ask why you are leaving. You do not have to give a detailed answer — "I am moving my banking elsewhere" is enough. They may offer you incentives to stay, but you are under no obligation to accept. Once you confirm the closure, the account is closed when ready, though any pending transactions may still process for a few days.
If the account has a negative balance — meaning you owe the bank money — you cannot close it until you pay what you owe. The bank will tell you the amount owed and how to pay it. After you pay, you can close the account.
Early closure fees and when they explore
An early closure fee is a charge the bank takes if you close too soon after opening. The time window varies: some banks charge if you close within 30 days, others within 90 days, and some within six months. A few banks do not charge an early closure fee at all. Check your account agreement or call the bank to find out the exact window for your account.
If you are within the window and want to avoid the fee, you have two options: wait until the window closes, or ask the bank to waive it. Some banks will waive the fee if you ask, especially if you have had other accounts with them or if you are closing because of a problem with the account. It never hurts to ask, but do not count on it.
If the bank charges the fee, it will deduct it from your remaining balance before sending you the money. For example, if you have $500 and the fee is $25, you will receive $475.
What happens to pending transactions after you close
Pending transactions — charges that have been authorized but not yet fully processed — may still go through for a few days after you close. If a transaction posts after the account is closed, the bank will either reject it or charge you an overdraft fee. This is why stopping automatic payments before closing is so important.
If a transaction does post and you are charged an overdraft fee, contact the bank and explain that the account was closed. Many banks will reverse the fee as a courtesy, especially if you can show that you tried to stop the payment. Keep records of when you closed the account and what you did to stop payments.
Debit card transactions are usually safer than automatic payments because they process faster. However, if your debit card is still active when you close, the bank may deactivate it when ready or within a few days. Do not rely on the card working after you close.
How long it takes to receive your money after closing
If you request a check, it typically arrives within three to five business days, though some banks take up to two weeks. If you transfer the balance to another account at the same bank, it usually posts the same day or the next business day. If you transfer to a different bank, it takes one to three business days.
If you withdraw cash in person, you have the money when ready. This is the fastest option if you need access to your balance right away.
Keep in mind that the bank's closing of the account and the arrival of your money are two separate things. The account closes right away, but your money may take several days to reach you. Do not close the account unless you have another way to access funds in the meantime.
What to do if the bank refuses to close your account
Banks rarely refuse to close an account, but it can happen if you owe money, if there are legal holds on the account, or if there is an active dispute. If the bank refuses, ask them in writing why they will not close it and what you need to do to resolve the issue.
If you owe money, pay it and then close. If there is a legal hold — for example, from a court judgment or a creditor — you may not be able to close until the hold is lifted. Contact the entity that placed the hold and ask what you need to do. If there is a dispute with the bank, ask to speak with a supervisor or file a complaint with your state's banking regulator or the Consumer Financial Protection Bureau (CFPB).
Frequently Asked Questions
Will closing a checking account hurt my credit?
No. Closing a checking account does not affect your credit score because checking accounts do not appear on your credit report. Only credit accounts — credit cards, loans, lines of credit — show up on your credit. Closing a checking account is a banking transaction, not a credit transaction.
What if I close my account and then realize I need it?
You can reopen an account with the same bank, but it will be treated as a new account. If the bank has an early closure fee policy, you may be charged again if you close the new account within the same window. Some banks also have policies against reopening accounts within a certain time frame — usually 30 to 90 days — so ask before you close if you think you might change your mind.
Can I close a joint checking account if the other person does not want to?
No. Both account holders usually have to agree to close a joint account. If one person wants to close and the other does not, you will need to contact the bank and ask about your options. Some banks let you remove yourself from the account and leave the other person as the sole owner, which is different from closing it entirely.
What happens to checks I wrote before closing?
Any checks you wrote before closing will bounce if they are deposited after the account is closed. Contact anyone you wrote checks to and let them know the account is closing. If a check bounces, the recipient may charge you a returned check fee. To avoid this, wait until you know all outstanding checks have cleared before closing, or ask the bank to keep the account open a bit longer.
Do I need to close my account in person?
Not necessarily. Many banks let you close by phone or online. However, some banks require an in-person visit, especially if the account has a large balance or if there are complications. Call your bank and ask what method they offer. If they require a branch visit, you can schedule an appointment to make it faster.