Is the clutter of an unused bank account getting to you? Perhaps you've moved on to a new primary bank, or maybe you're simply streamlining your finances. Whatever the reason, closing a bank account, especially remotely, can seem like a daunting task. But don't worry, you've come to the right place! This comprehensive guide will walk you through the process of closing your Chase bank account using the Chase app or online platform.
Let's dive in and get that account officially closed, step by step!
Pre-Closure Checklist: What to Do Before You Close Your Chase Account
Before you initiate the closure, it's crucial to prepare your account to ensure a smooth transition and avoid any unexpected issues. Think of this as your financial decluttering phase!
Step 1: Get Ready to Say Goodbye – But Not Empty-Handed!
So, you're ready to close your Chase account, but have you thought about where your money will go? This is the absolute first and most critical step.
Open a New Account (If You Haven't Already): If you don't already have another bank account where you want your funds transferred, now is the time to open one. Make sure it's fully set up and ready to receive deposits. This could be an account at another bank, a credit union, or even a new Chase account that better suits your needs.
Transfer All Funds Out: This is paramount. You need to move all your money out of the Chase account you intend to close. You can do this in several ways:
Electronic Transfer (ACH): The easiest way is often to initiate an ACH transfer from your Chase account to your new bank account. You can typically do this directly within the Chase app or online banking portal. You'll need the routing and account number of your new bank. Note: ACH transfers can take 2-3 business days to clear.
Wire Transfer: For larger sums or if you need the money to arrive very quickly, a wire transfer is an option, though it usually comes with a fee. You can initiate these through the Chase app, online, or by calling Chase customer service.
Withdraw Cash: If you prefer, you can withdraw your entire balance in cash from a Chase ATM or branch. Be mindful of ATM daily withdrawal limits.
Write a Check: If you have checks for the account, you can write a check to yourself or a trusted individual and deposit it into your new account. Ensure the check clears before proceeding with closure.
Verify Zero Balance: Double-check! Triple-check! Before contacting Chase, ensure your account balance is absolutely zero. Even a few cents can sometimes prevent automated closures or delay the process.
Step 2: Update All Automatic Transactions
This step is often overlooked but incredibly important. Imagine missing a crucial bill payment because your old account was closed!
Change Direct Deposits: Contact your employer, government agencies (for Social Security, pensions, etc.), and any other source of recurring income to update your direct deposit information to your new bank account. Do this well in advance of closing the Chase account.
Update Automatic Payments/Subscriptions: Go through all your recurring bill payments, subscriptions (Netflix, Spotify, gym memberships, utilities, loans, etc.), and any automatic transfers you have set up from your Chase account. Update these with your new bank account details. This is crucial to avoid missed payments, late fees, and service interruptions.
Tip: Review your last few bank statements from Chase to identify all automatic transactions. This will help ensure you don't miss anything.
Step 3: Consider Any Linked Accounts or Services
Think about how your Chase account might be connected to other financial products.
Linked Credit Cards/Loans: If you have Chase credit cards or loans, closing your checking or savings account generally does not affect them directly. However, if you had automatic payments set up from the checking/savings account to these products, you must update the payment method.
Zelle/Other Payment Services: If you use Zelle or similar peer-to-peer payment services linked to your Chase account, ensure you unlink it and link your new bank account instead.
Overdraft Protection: If your Chase account provided overdraft protection for another Chase account, this protection will cease when you close the primary account.
Closing Your Chase Bank Account Through the App/Online
While there isn't a single "Close Account" button directly in the Chase app for checking/savings accounts, you can initiate the process through their secure messaging system, which is accessible via the app and online banking.
Step 4: Accessing the Secure Message Center
This is where you'll make your request official. Ready to send that message?
Log in to the Chase Mobile App: Open the Chase Mobile app on your smartphone or tablet and log in using your credentials.
Navigate to the "Secure Messages" or "Support" Section: The exact phrasing might vary slightly depending on your app version, but generally, you'll find a section for "Messages," "Secure Message Center," "Help & Support," or a similar option. Look for an envelope icon or a "Contact Us" option.
Often, this is located under your profile icon or a main menu (usually three horizontal lines).
Choose "Send a New Message" or "Ask a Question": Once in the message center, select the option to compose a new message or ask a question.
Step 5: Composing Your Account Closure Request
Now it's time to clearly state your intention. Clarity is key here!
Select the Relevant Account: When prompted, select the specific Chase checking or savings account you wish to close from your list of accounts.
Craft Your Message: Write a concise and clear message stating your intention to close the account. Include the following crucial information:
Your full name as it appears on the account.
The account number you wish to close.
A clear statement: "I would like to permanently close this [Checking/Savings] account."
Confirmation of zero balance: State that you have already transferred all funds out and the account balance is $0.00. (e.g., "I have already transferred all funds out of this account, and the current balance is $0.00.")
Reason for closure (optional but helpful): You can briefly state why you're closing the account (e.g., "I no longer need this account," "I've moved my primary banking elsewhere"). This isn't mandatory but can sometimes expedite the process.
Request for confirmation: Ask for written confirmation (via secure message or mail) that the account has been successfully closed.
Example Message: Subject: Account Closure Request - [Your Account Number]
Dear Chase Customer Service,
I am writing to request the permanent closure of my Chase [Checking/Savings] account, account number [Your Account Number].
I have already transferred all funds out of this account, and the current balance is $0.00.
Please confirm in writing (via secure message or mail) when this account has been successfully closed.
Thank you for your assistance.
Sincerely, [Your Full Name]
Send the Message: Review your message for accuracy and clarity, then send it.
Step 6: Follow-Up and Confirmation
The process isn't complete until you receive confirmation! Don't assume it's done just yet.
Monitor Your Secure Messages: Chase will typically respond to your secure message within a few business days. They may ask for additional verification or confirm the closure.
Check for Final Statements: Once the account is officially closed, Chase should send you a final statement confirming the closure and showing a zero balance. Keep this record for your files. You can usually access past statements through the Chase app or online banking for a certain period even after closure.
Verify Direct Deposit and Bill Pay Changes: After a week or two, double-check that your direct deposits are going to your new account and that all your automatic payments are successfully processing from the new account.
Important Considerations When Closing Your Account
Negative Balance: You cannot close an account with a negative balance. You will need to deposit funds to cover any outstanding fees or charges before Chase will close it.
Overdraft Protection: If your Chase account provides overdraft protection for another account, be aware that closing it will remove this protection.
Impact on Credit Score: Closing a checking or savings account generally does not impact your credit score, as these are not considered credit accounts. However, if you had linked your Chase account to pay a Chase credit card and you fail to update your payment method, this could lead to missed payments and negatively affect your credit.
Timeframe: Account closure can take a few business days to a week or more to fully process. Be patient and follow up if you don't hear back within a reasonable timeframe.
Keeping a Record: Always keep a record of your communication with Chase, including the date you sent the closure request and any confirmation messages or statements you receive.
By following these steps meticulously, you can effectively close your Chase bank account through the app or online, ensuring a smooth and hassle-free transition of your finances.
Frequently Asked Questions (FAQs)
Here are 10 common questions about closing a Chase bank account:
How to transfer funds out of my Chase account before closing?
You can transfer funds via ACH transfer to another bank account (online or through the app), initiate a wire transfer (fees may apply), withdraw cash from an ATM or branch, or write a check to yourself and deposit it elsewhere.
How to check if my Chase account has a zero balance?
Log in to the Chase app or online banking, navigate to the account details, and verify that the balance shows $0.00. Make sure all pending transactions have cleared.
How to update direct deposits to a new bank account?
Contact your employer's HR or payroll department, and any other income sources (e.g., government benefits), to provide them with the new routing and account numbers for your direct deposits.
How to ensure all automatic payments are updated?
Review your recent Chase bank statements for recurring debits. Log into each service/vendor's website or app and update your payment method with your new bank account information.
How to find the Secure Message Center in the Chase app?
Look for a "Messages," "Secure Message Center," "Help & Support," or a "Contact Us" option. This is often found under your profile icon or within the main menu (usually three horizontal lines).
How to word my Chase account closure request?
Clearly state your full name, the account number you wish to close, and that you have already moved all funds out and the balance is $0.00. Request written confirmation of closure.
How to get a final statement after closing my Chase account?
Chase typically sends a final statement. You can also usually access past statements for a certain period through the Chase app or online banking even after the account is closed.
How to know if my Chase account closure was successful?
Look for a confirmation message from Chase via secure message or mail. The account should no longer appear active in your online banking, or its status should be updated to "closed."
How to avoid fees when closing a Chase account?
Ensure your account has a zero balance and no pending transactions. Chase generally doesn't charge a fee to close a checking or savings account, but any outstanding monthly service fees or overdraft fees must be paid first.
How to reopen a Chase account if I change my mind?
It is generally difficult, if not impossible, to reopen a fully closed bank account. You would likely need to apply for a new account altogether. Therefore, be certain of your decision before proceeding with closure.