Most banks do not charge you to close an account, but some do — and the fee depends on the bank and the type of account

The short answer: closing a bank account is free at most institutions. Chase, Bank of America, Wells Fargo, and most regional and online banks do not charge a closing fee. However, some banks and credit unions do charge between $25 and $100, usually if you close the account within a certain period after opening it (often 90 days to one year). A few banks charge a fee only if you close in person at a branch rather than by phone or online.

Before you close, call your bank's customer service line or check your account agreement to confirm whether a fee applies. If a fee exists and you want to avoid it, you may be able to wait out the required holding period, or you can ask the bank to waive it — some will, especially if you have been a customer for years or if you explain financial hardship.

Key Takeaways

  • Most major banks charge nothing to close a checking or savings account at any time.
  • Some banks and credit unions charge $25 to $100 if you close within 90 days to one year of opening the account.
  • Your account agreement or the bank's website will state the exact closing fee policy for your specific account type.
  • You can ask the bank to waive the fee, and many will do so if you have been a long-term customer or are facing hardship.
  • Closing by phone or online is often free even at banks that charge for in-person closures.

Which banks charge closing fees and how much

Banks that commonly charge closing fees include some credit unions, regional banks, and a few online institutions. The fee typically ranges from $25 to $100. Discover Bank, for example, charges $25 if you close within 45 days of opening. Some credit unions charge $50 to $100 if you close within six months to one year. However, this varies widely — your specific credit union or bank may have no fee at all, or a different threshold.

The most common trigger for a closing fee is the early closure window — a period after you open the account during which the bank charges you for closing. This window ranges from 45 days to one year depending on the institution. If you close after that period ends, you typically pay nothing. A smaller number of banks charge a flat fee regardless of timing, or charge only if you close in person rather than remotely.

The best way to know your bank's policy is to look at your account agreement (often called the "Deposit Account Agreement" or "Terms and Conditions") or call customer service and ask directly: "Is there a fee to close this account, and if so, when does it explore?" Write down the answer and the name of the person who gave it to you.

How to learn about your bank charges a fee

Your account agreement is the official source. You can usually find it online by logging into your account and looking for a section labeled "Agreements," "Documents," "Terms," or "Account Information." If you opened the account in person, you may have received a printed copy. If you cannot locate it, call the customer service number on the back of your debit card or on the bank's website.

When you call, be specific: ask whether there is a fee to close your account, whether it depends on how long you have held the account, and whether the fee differs if you close online versus in person. Ask the representative to confirm the policy in writing via email if possible — this creates a record in case you need to dispute a surprise fee later.

Asking the bank to waive the fee

Many banks will waive a closing fee if you ask, especially if you have been a customer for a long time, have maintained a good account history, or are closing due to financial hardship. The worst they can say is no. Call the customer service number and explain your situation: "I would like to close my account, and I understand there may be a $25 fee. Is there any way you could waive that?" Banks are more likely to waive fees for customers who have been with them for years than for those closing within the early window.

If the first representative says no, ask to speak with a supervisor or manager. Different people have different authority to waive fees, and a supervisor may have more flexibility. Keep your tone calm and factual — banks are more willing to help customers who are respectful than those who are angry or demanding.

What happens if the bank charges you after you close

If you close your account and the bank later charges a closing fee to an account that no longer exists, the fee will typically be returned to you as a credit or refund. However, this can take time and may require you to contact the bank. If you see a charge on a closed account, call customer service when ready and ask them to reverse it. Explain that you closed the account and were not informed of a fee beforehand (if that is true).

If the bank refuses to reverse the fee, you can file a complaint with the Consumer Financial Protection Bureau (CFPB) at consumerfinance.gov. The CFPB handles disputes over bank fees and practices. You can also contact your state's banking regulator or attorney general's office. Keep records of all your communications with the bank, including dates, times, and names of representatives you spoke with.

Timing your closure to avoid fees

If your bank charges a closing fee only within a certain window (for example, within 90 days of opening), you can straightforward wait until that period ends before closing. This is the simplest way to avoid the fee if you are not in a hurry. However, if you need to close the account sooner — because you are switching banks, closing a joint account, or dealing with fraud — the fee may be worth paying to protect yourself.

If you are opening a new account and want to avoid closing fees in the future, check the account agreement before you open it. Look for language about early closure fees or account closure fees. This takes only a few minutes and can save you money down the road.

Frequently Asked Questions

Can a bank charge me a fee if I close my account within 30 days?

Yes, if the bank's policy includes an early closure fee. Some banks charge a fee if you close within 45 days to one year of opening. Check your account agreement or call customer service to confirm your bank's specific window. If a fee applies and you were not told about it when you opened the account, you can ask the bank to waive it.

What if I close my account online instead of going to the branch?

Most banks that charge closing fees charge the same amount whether you close online or in person. However, a few banks charge a fee only for in-person closures. Call your bank and ask whether the fee applies to online closures — if it does not, you can save money by closing remotely.

Do I have to pay the closing fee if I dispute it?

You can dispute a closing fee you believe is unfair or that you were not informed about. Contact the bank first and ask them to reverse it. If they refuse, file a complaint with the CFPB at consumerfinance.gov. The CFPB will investigate and may require the bank to refund you, but this process takes time — usually several weeks to months.

Will closing my account hurt my credit score?

Closing a bank account does not directly affect your credit score because banks do not report account closures to credit bureaus. However, if the bank charges an unpaid fee and sends it to collections, that could harm your credit. Pay any closing fee promptly or dispute it through the CFPB to avoid this outcome.