Yes, you can close most online bank accounts entirely through your computer or phone
Most online banks let you close your account by logging in, finding the account settings or customer service section, and requesting closure. The process usually takes a few minutes to start, though the bank may take several business days to actually shut the account and return any remaining balance. Some banks require you to call or visit a branch instead, so check your bank's website first to see what method they accept.
The key difference between online and traditional banks is that online banks have no physical location to visit. This means they have built closure into their digital systems from the start. You will not need to print forms, mail anything, or appear in person — though you may need to verify your identity through the app or website before the bank processes the request.
Key Takeaways
- Most online banks let you close your account through their website or mobile app without calling or visiting a branch.
- You must withdraw or transfer out all your money before closing, or the bank will hold it and mail you a check.
- The bank needs time to process the closure and clear any pending transactions, which usually takes three to ten business days.
- Some online banks require a phone call to verify your identity or confirm you want to close, even if you start the request online.
Where to find the closure option in your online banking app or website
Log into your account and look for a settings menu, usually marked with a gear icon or labeled "Settings" or "Account Settings." From there, search for options like "Close Account," "Account Closure," "Manage Accounts," or "Account Services." If you cannot find it in settings, try the Help or Support section — many banks list account closure under FAQs or customer service options.
Some banks put the closure request in a different place depending on whether you are using the app or the website. If you cannot locate it in one, try the other. If neither shows a closure option, the bank likely requires you to call customer service or send a find message through your account. Check the bank's website for their specific closure process before you start.
What you need to do before the bank will close your account
Empty the account completely. Transfer or withdraw all your money, including any interest that has accrued. If you leave money in the account, the bank will not close it — they will either hold the balance indefinitely or mail you a check weeks later. Some banks charge a monthly fee even on closed accounts if a balance remains, so moving the money out first saves you from unexpected charges.
Pay off any outstanding checks or automatic payments linked to that account. If a check you wrote has not cleared yet, the bank may refuse to close the account until it does. Similarly, if you have automatic bill payments set up on that account, cancel them or switch them to another account first. The bank needs to know there are no pending transactions before they can finalize the closure.
Gather your account number and any identification the bank asks for. Most online banks will ask you to confirm your identity before processing a closure request — this might mean answering security questions, entering a code sent to your phone, or verifying information from your original account opening. Have your account number ready, and check whether the bank needs anything else before you submit the request.
The timeline from request to final closure
Submitting a closure request online usually takes effect when ready in your account — you may see a "pending closure" status right away. However, the bank still needs time to process the request, clear any remaining transactions, and officially close the account. This processing period typically takes three to ten business days, depending on the bank and whether there are any complications.
During this waiting period, your account may be frozen or restricted. You might not be able to make new transactions, but existing pending payments or transfers may still go through. If you submitted the closure request but realize you need the account to stay open, contact the bank when ready — some banks allow you to cancel a closure request within a certain window, usually 24 to 48 hours.
Once the bank confirms the closure is complete, you will receive a final confirmation, usually by email. If there was any balance remaining in the account, the bank will mail you a check to your address on file. This check can take an additional one to two weeks to arrive, so do not assume the account is fully settled until you receive it.
What happens if the bank requires a phone call
Some online banks, particularly those that are subsidiaries of larger traditional banks, require you to call customer service to close your account. This is usually a security measure — the bank wants to verify that you actually want to close the account and that someone else has not gained access to your login credentials. The call typically takes five to ten minutes.
When you call, have your account number and a form of identification ready. The representative will confirm your identity, ask why you are closing the account (though you do not have to answer), verify that your account is empty, and process the closure request. Ask for a confirmation number and note the date and time of the call. This gives you a record in case there are questions later about when you requested closure.
Potential problems and what to do about them
The most common issue is forgetting to move money out before requesting closure. If this happens, contact the bank and ask them to hold the closure request while you transfer the remaining balance. Most banks will pause the closure process for a few days to give you time to move the money. Once the account is truly empty, you can resubmit the closure request.
Another problem occurs when pending transactions clear after you have submitted the closure request. A check you forgot about, an automatic payment, or a debit card charge might post to the account days after you thought it was empty. The bank may reopen the account to process the transaction, then close it again. If you see unexpected activity on a closed account, contact the bank to clarify what happened and confirm the account is actually closed.
If the bank loses your closure request or claims they never received it, ask for written confirmation. Request that the bank send you an email or letter confirming the date and time your closure request was received and processed. This protects you if the account remains open and the bank later tries to charge you fees.
After your online bank account is closed
You will no longer be able to log into the account. The bank may keep your account information on file for a period of time (usually three to seven years) in case you need records or if a transaction disputes arises, but you cannot access it through your login. If you need statements or transaction history after closure, request them before you close the account, or contact the bank afterward and ask them to send copies.
Check your credit report a few weeks after closure to make sure the account is reported as closed by the account holder, not closed by the bank due to inactivity or other reasons. You can view your credit report for free once per year at annualcreditreport.com. A properly closed account should not harm your credit, but it is worth verifying that the closure was recorded correctly.
Frequently Asked Questions
Can I close my online bank account if I still have pending transactions?
Most banks will not process the closure until pending transactions clear. Wait for checks and automatic payments to post, then submit the closure request. If you are in a hurry, call the bank and ask whether they can expedite the process or close the account with the understanding that they will process any remaining transactions afterward.
What if I close my account but the bank keeps charging me fees?
Contact the bank when ready and provide the date you requested closure. Ask them to reverse any fees charged after the closure date. If they refuse, file a complaint with the Consumer Financial Protection Bureau (CFPB) at consumerfinance.gov. Document all communication with the bank, including dates, names of representatives, and confirmation numbers.
Do I need to close my account before switching to a different bank?
No. You can open a new account at another bank while your old account is still open. However, closing the old account prevents the bank from charging monthly maintenance fees and keeps your account list clean. It is usually a good idea to close it once you have moved all your money and set up your new account.
Will closing my online bank account hurt my credit score?
Closing a checking or savings account does not directly affect your credit score because these accounts do not appear on your credit report. However, if the bank reports the account as closed due to inactivity or non-payment rather than closed by you, it could be noted. Make sure the closure is recorded correctly by checking your credit report a few weeks later.
How long does it take to get my money back if I had a balance when I closed?
The bank will mail a check to your address on file. This usually takes one to three weeks from the date the account officially closed. If you do not receive the check within four weeks, contact the bank with your closure confirmation number and ask them to reissue it or transfer the funds electronically.