The basic process: what happens and who decides
Closing a joint account requires agreement from all account holders, or a court order if you cannot agree. The bank will not close the account on one person's request alone — both of you have equal rights to the money inside, so the bank protects itself by requiring both signatures or a legal document showing one person has the right to act alone.
The simplest path is to sit down with the other account holder, decide together what to do with the money, and both go to the bank to close it. If you cannot reach agreement or the other person will not cooperate, you will need to involve a lawyer or the court system, which takes longer and costs money.
Start by calling or visiting your bank's customer service to ask what documents they need. Different banks have different forms, and some require both people to be present while others accept signed paperwork by mail.
Key Takeaways
- Both account holders must agree to close the account, or you need a court order giving one person the legal right to close it alone.
- You must decide what happens to the money before closing — withdraw it, transfer it, or split it between two separate accounts.
- Contact your bank first to learn what forms and signatures they require; requirements vary by bank and account type.
- If the other account holder will not cooperate, you may need a lawyer to file for a court order, which takes weeks or months.
- Closing the account does not automatically divide the money — you control that step, and the bank will not move funds without clear instructions from both of you.
What to do with the money before you close
You cannot close a joint account while money sits in it. The bank needs to know where that money goes. The three common options are: withdraw it all in cash, transfer it to another account, or split it between two separate accounts (one for each person).
If you and the other account holder agree on how to split the money, that is the easiest route. One person can transfer their half to a personal account they control, the other person does the same, and then you both sign the closing paperwork. If you cannot agree on the split, you will need a lawyer or court to decide, and that decision comes before the bank will close anything.
Write down the plan in plain language — "John withdraws $2,000, Sarah withdraws $2,000, account closes" — and both sign it. This protects both of you if questions come up later. Keep a copy for your records.
The paperwork the bank will ask for
Most banks require a joint account closure form signed by both account holders. Some banks call this a "closure request" or "account termination form." Call your bank and ask them to mail or email the form, or visit a branch in person and ask them to print it.
The form usually asks for the account number, the reason for closing (you can write "by mutual agreement"), and signatures from both people. Some banks also ask for a government-issued ID from each account holder, especially if you are closing by mail. A few banks require both people to appear in person at a branch.
If one account holder has died, the process is different — you will need a death certificate and possibly a will or court document showing who has the right to the money. Contact your bank's probate or estate department for those steps.
When the other account holder will not sign or cannot be reached
If the other person refuses to close the account, ignores your requests, or you cannot locate them, you cannot close it through the bank alone. You will need to go to court and ask a judge to give you the legal right to close the account and divide the money.
This process is called a partition action in some states, or you may file through family court if this is a divorce or separation. You will need a lawyer — this is not something you can do on your own paperwork. A lawyer will file a case, notify the other person, and ask the judge to order the account closed and the money divided.
This route takes weeks or months and costs money in legal fees. It is worth doing only if the account holds a significant amount of money or if you need the account closed urgently for another reason (like you are moving banks and need to close all old accounts).
Timing: how long it takes from start to finish
If both people agree and sign the paperwork, most banks close the account within 5 to 10 business days. Some banks are faster; a few take up to two weeks. The bank will send a confirmation letter to both account holders showing the account is closed.
If you are closing by mail, add time for the paperwork to travel both ways. If you are doing it in person at a branch, it can happen the same day, though the bank may still take a few days to process the final closure on their system.
If you need a court order because the other person will not cooperate, expect 6 to 12 weeks minimum, depending on how busy the court is and whether the other person contests the case.
What happens to automatic payments and direct deposits
Before you close the account, check whether any automatic payments or direct deposits are tied to it. Log into online banking and look for recurring transfers, bill payments, or payroll deposits. If you find any, you will need to change them before the account closes, or they will fail.
For direct deposits (like paychecks), contact your employer's payroll department and give them the new account number where you want the money to go. For automatic bill payments, log into each company's website and update the account number there. For automatic transfers between accounts, cancel them through your bank's online system.
The bank will not automatically redirect these payments to a new account. If you close the account without updating them, the payments will bounce, and you may face late fees or service interruptions. Give yourself at least a week to make these changes before you submit the closure paperwork.
After the account is closed: what you receive
Once the account is closed, the bank sends a final statement to both account holders showing the closing date and the final balance. This statement is your proof that the account no longer exists. Keep it for your records.
If there was money left in the account after you withdrew or transferred your portion, the bank will hold it for the other account holder. If the other person never claims it, the bank may turn it over to the state as unclaimed property after a set period (usually 3 to 5 years, depending on your state). The other person can then recover it from the state.
If you closed the account as part of a divorce or separation, keep the final statement and any signed agreement about how the money was divided. You may need these documents later if questions come up about whether the account was properly closed and the money was properly split.
Frequently Asked Questions
Can I close a joint account without the other person's permission?
No, not through the bank. Both account holders have equal rights, so the bank will not close it on one person's request. You would need a court order, which requires a lawyer and takes weeks or months. The only exception is if you have a power of attorney document giving you the legal right to manage the account.
What if the other account holder is missing or unreachable?
You can file a court case to close the account and divide the money. You will need a lawyer to do this. The court will require you to show that you made a reasonable effort to locate the other person (usually through certified mail or a private investigator). A judge can then order the account closed.
Do I need a lawyer to close a joint account?
Not if both people agree. You can do it yourself by contacting the bank and signing the closure form together. You only need a lawyer if the other person refuses or will not cooperate, or if there is a dispute about how to divide the money.
What happens to my credit if I close a joint account?
Closing a joint account may affect your credit score slightly, but usually not much. The impact depends on how long the account was open and whether it had a balance. Contact the bank to ask whether they report the closure to the credit bureaus, and in what way.
Can I close just my part of a joint account?
No. A joint account is one account with two owners. You cannot split it into two separate accounts through the bank's closure process. You can withdraw your portion of the money and move it to your own account, but the joint account itself stays open until both people sign the closure paperwork.