The basic steps to close an Old National Bank account
To close an Old National Bank account, contact the bank directly by phone, visit a branch in person, or use their online banking portal if that option is available. Old National Bank operates primarily in the Midwest, with branches in Indiana, Kentucky, and other states in that region. The process itself is straightforward: you tell the bank you want to close the account, make sure any pending transactions have cleared, withdraw or transfer any remaining balance, and confirm the closure in writing if the bank requests it.
The bank will not charge you a fee to close an account. However, if you have an outstanding balance (money you owe the bank rather than money in the account), you must settle that before closure. If you have automatic payments or direct deposits set up, those will stop once the account closes, so you need to update those arrangements beforehand.
The entire process typically takes a few business days to complete, though the account may close when ready once you make the request. After closure, the bank will send you a final statement showing the account balance at the time of closure.
Key Takeaways
- Contact Old National Bank by phone, in person at a branch, or through online banking to request closure.
- Withdraw or transfer your remaining balance before closing, and make sure no pending transactions are still processing.
- Update any automatic payments or direct deposits that were connected to this account so they do not fail.
- The bank will send you a final statement confirming the closure and showing the account balance.
Preparing your account before you close it
Before you contact Old National Bank to close the account, spend a few days making sure nothing is still using it. Check whether you have set up automatic bill payments from this account — utilities, insurance, subscriptions, loan payments, or anything else that withdraws money automatically. You will need to change those to a different account or payment method before you close.
Similarly, if you receive direct deposits (paychecks, government benefits, or other regular deposits), update those with your employer or the organization sending the money so they go to your new account instead. If a direct deposit arrives after you close the account, the bank will return it, and you may face a delay in receiving that money.
Check your recent transactions to see if anything is still pending. Some transactions take a few days to fully process, and closing the account while a transaction is pending can cause problems. Wait until those clear, or contact the merchant to cancel the transaction before you close.
How to contact Old National Bank to close your account
The fastest way is usually to call Old National Bank's customer service line. You can find the phone number on your debit card, your statements, or on the Old National Bank website. Have your account number ready when you call. The representative will confirm your identity, answer any questions about the closure, and process the request.
If you prefer to close the account in person, visit any Old National Bank branch during business hours. Bring a photo ID and your debit card. The branch staff can close the account on the spot and give you a receipt confirming the closure.
Some banks allow closure through online banking, though this varies by institution. Log into your Old National Bank online account and look for account settings or account management options. If the option to close is available, you can initiate it there, though the bank may still call you to confirm.
What happens to your money when you close
Any money remaining in the account must go somewhere. You can ask Old National Bank to transfer it to another account you own at the same bank or at a different bank. Provide the receiving account number and routing number if it is at a different bank. The transfer usually takes one to three business days.
Alternatively, you can withdraw the money in cash at a branch or through an ATM before you close the account. If you have a very large balance, the branch may need advance notice so they have enough cash on hand.
Do not leave money in the account when you close it. If you do, the bank will hold it and you will have to contact them later to retrieve it, which creates unnecessary delay and confusion.
Handling overdrafts or outstanding balances
If your account is overdrawn — meaning you owe the bank money rather than the bank owing you — you must pay that balance before the account can close. The bank will not close an account with a negative balance. Contact the bank to find out the exact amount owed, then pay it by transferring funds from another account, by check, or in cash at a branch.
If the account has been overdrawn for a long time and the bank has charged overdraft fees, ask whether those fees can be waived or reduced. Some banks will work with you, especially if you have been a customer for a long time or if the overdraft was small. There is no harm in asking, though the bank is not required to agree.
After the account is closed
Once Old National Bank confirms the closure, keep the final statement they send you. This document proves the account is closed and shows what the balance was. You may need it for your records or if a question comes up later about a transaction.
If you set up automatic payments or direct deposits to go to a new account, monitor those for the first month to make sure they are arriving correctly. Sometimes the changeover takes a billing cycle or two to fully process.
If you still have a debit card connected to the closed account, it will stop working. You do not need to do anything — it will straightforward decline when you try to use it. If you want to destroy the card to be safe, you can cut it up and throw it away.
Frequently Asked Questions
Can I close my Old National Bank account online?
Some Old National Bank customers can close accounts through online banking, but this varies. Log into your account and check the settings or account management section. If the option is not there, call customer service or visit a branch — those methods always work.
What if I have a check that has not cleared yet?
Wait until the check clears before you close the account. Closing while a check is still pending can cause it to bounce, which may result in fees for you and the person who wrote the check. Check your recent transactions to see if anything is still showing as pending.
Do I need to close the account in person?
No. You can close by phone or online if those options are available to you. In-person closure is an option if you prefer to handle it face-to-face, but it is not required.
Will closing the account hurt my credit score?
Closing a checking or savings account does not affect your credit score. Credit scores are based on credit accounts like credit cards and loans, not on deposit accounts. Closing a bank account is a normal part of managing your finances.
What if I forgot about the account and it has been inactive for years?
Contact Old National Bank and ask about the account status. If it has been inactive for a very long time, the bank may have frozen it or turned it over to the state as unclaimed property. The bank can tell you what happened and help you either reactivate it or close it properly.