Are you ready to say goodbye to your Chase bank account? Whether you're moving to a new bank, consolidating your finances, or simply looking for a change, closing an account requires a bit of preparation to ensure a smooth transition. Let's walk through the process step-by-step to make sure you don't miss anything important!
How to Close Out Your Chase Bank Account: A Comprehensive Guide
Closing a bank account might seem daunting, but with a clear plan, it can be a straightforward process. Here’s a detailed guide to help you close your Chase account efficiently and without any hiccups.
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| How To Close Out My Chase Bank Account |
Step 1: Prepare for the Grand Exit - Open a New Account & Update Everything!
This is perhaps the most crucial first step and where you, the user, need to get proactive! Before you even think about telling Chase "it's over," you absolutely need a new financial home for your money.
Sub-heading: Secure Your New Financial Home
Open a new bank account: This could be with another traditional bank, a credit union, or an online-only bank. Make sure it's fully set up and ready to receive funds.
Fund your new account: Transfer enough money to your new account to cover all your upcoming expenses. You don't want to be caught short!
Sub-heading: Redirect All Incoming & Outgoing Transactions
This is where the real legwork comes in. Think of every single transaction tied to your Chase account – no matter how small or infrequent.
Update Direct Deposits:
Salary/Payroll: Contact your employer's HR or payroll department and provide them with the new routing and account numbers for your paychecks. Do this well in advance, as it can sometimes take one or two pay cycles to take effect.
Government Benefits: If you receive Social Security, VA benefits, or any other government payments, update your direct deposit information with the relevant agency.
Investment Dividends, Pensions, etc.: Don't forget any other sources of regular income.
Change Automatic Payments/Bill Pays:
Utility Bills: Electricity, water, gas, internet, phone – update all of them.
Loan Payments: Mortgages, car loans, student loans, personal loans.
Credit Card Payments: If you have automatic payments set up for other credit cards from your Chase account, change them.
Subscriptions & Memberships: Netflix, Spotify, gym memberships, streaming services, software subscriptions, insurance premiums – go through your recent statements with a fine-tooth comb to catch everything! Even annual or semi-annual charges need to be identified and updated.
Transfer Scheduled Transfers: If you have any recurring transfers set up between your Chase accounts or to external accounts, ensure these are canceled or redirected to your new account.
Clear Outstanding Checks: Make sure all checks you've written from your Chase account have cleared. If there are any outstanding, contact the recipient and arrange an alternative payment method.
Pro-tip: Review your last 6-12 months of Chase statements to ensure you haven't missed any recurring transactions. This thorough review is your best defense against unexpected fees or missed payments after closure.
Step 2: Empty the Vault - Zero Out Your Chase Account Balance
Once all your new direct deposits and automatic payments are set up and confirmed (give them a cycle or two to ensure they're working!), it's time to move the remaining funds out of your Chase account.
QuickTip: Slowing down makes content clearer.
Sub-heading: Choose Your Transfer Method
You have a few options for moving your money:
Electronic Transfer (ACH): This is generally the easiest and most common method. You can typically initiate an ACH transfer from your new bank account to pull funds from your Chase account, or from your Chase online banking to push funds to your new account. ACH transfers usually take 2-3 business days. Chase does not typically charge for ACH transfers.
Wire Transfer: For larger sums or if you need the money immediately, a wire transfer is faster, often completing the same day. However, Chase may charge a fee for outgoing wire transfers (e.g., $25-35 for domestic wires).
Withdraw Cash: You can visit a Chase branch and withdraw the entire balance in cash. This is a good option if your balance isn't too large and you want immediate access.
Cashier's Check: You can request a cashier's check for the remaining balance. This is a secure option, especially for larger amounts, but you might incur a fee for the check.
Sub-heading: Leave a Small Buffer (Optional, but Recommended)
Consider leaving a small, nominal amount (e.g., $1-$5) in your Chase account initially. This acts as a buffer in case a forgotten automatic payment or a small, unexpected charge comes through before you formally close the account. You can clear this final small amount in Step 4.
Step 3: Gather Your Credentials - Documents You Might Need
While closing an account is often less document-intensive than opening one, it's wise to be prepared.
Personal Identification:
Government-issued photo ID (e.g., Driver's License, Passport, State ID).
Your Social Security Number (SSN) or Taxpayer Identification Number (TIN).
Account Information:
Your Chase account number(s).
Your Chase debit card (if applicable).
Any unused checks from the account.
New Account Details (if transferring remaining funds at closure):
Your new bank's routing and account number.
Note: While not always strictly required for closure, having these handy will ensure a smoother process, especially if you're visiting a branch.
Step 4: Make the Official Break - Initiating the Account Closure
Now that everything is prepared, it's time to formally request the closure of your Chase account. Chase offers several methods for this:
Option A: In-Person (Recommended for Finality and Convenience)
QuickTip: A quick skim can reveal the main idea fast.
Visit a Chase Branch: This is often the most straightforward and recommended method as you can handle everything directly with a banker.
Find a Branch: Use the Chase branch locator online to find a convenient location.
Speak to a Banker: Inform them you wish to close your checking and/or savings account(s).
Provide ID: Present your government-issued photo ID and SSN.
Finalize Balance: If there's a remaining balance, you can request it in cash, as a cashier's check, or have it transferred to your new account immediately (if you bring your new account details).
Get Confirmation: Crucially, request a written confirmation of the account closure before you leave the branch. This is your proof.
Option B: Online (Convenient, but Requires Secure Messaging)
Log In to Chase Online Banking: Access your account via Chase.com.
Navigate to Secure Message Center: Look for a "Secure Messages" or "Message Center" option, usually found under "Customer Service" or "Help & Support."
Send a Closure Request:
Subject: Choose a relevant subject like "Account Inquiry" or "Close Account."
Message: Clearly state your intention to close your specific Chase checking and/or savings account(s), providing the account numbers. You may also state the reason for closure (optional).
Request Confirmation: Ask for a written confirmation of the closure to be sent to you.
Await Response: Chase typically responds to secure messages within 1-2 business days, often with follow-up questions or confirmation of the process. You may need to transfer out any remaining funds beforehand through online transfers if you haven't already.
Option C: By Phone (Quick, but Less Direct Confirmation)
Call Chase Customer Service: Dial 1-800-935-9935 (personal banking).
State Your Intent: Inform the representative that you wish to close your account(s).
Verification: Be prepared to answer security questions to verify your identity.
Instructions: The representative will guide you through the process, which may involve transferring out any remaining funds or providing details for a final check.
Request Confirmation: Ask for a confirmation number or for a written confirmation to be mailed to you.
Option D: By Mail (Least Recommended - Slow and Less Secure)
Write a Formal Letter: Clearly state your request to close your Chase checking and/or savings account(s). Include:
Your full name
Your address
Your phone number
Your Chase account number(s)
Your signature
Instructions on how to disburse any remaining funds (e.g., send a cashier's check to your address).
Mail to: National Bank By Mail P.O. Box 36520 Louisville, KY 40233-6520
For Rush Delivery (if needed): National Bank By Mail Mail Code KY1-0900 1111 Polaris Parkway Columbus, OH 43240
Expect Delays: This method is the slowest and provides the least immediate confirmation. It's crucial to ensure your balance is at $0 before sending a mail request, or clearly state how you want remaining funds handled.
Step 5: Confirm the Closure - The Final Check
Don't assume your account is closed just because you've made the request.
Wait for Confirmation: Chase will typically send you a formal letter or secure message confirming the account closure.
Check Online Banking: Attempt to log into your Chase online banking. Once the account is truly closed, you should no longer be able to access it or see the specific account.
Monitor New Account: Keep a close eye on your new bank account for a few weeks to ensure all direct deposits and automatic payments have successfully transitioned and no unexpected charges from your old Chase account appear.
Important Note on Fees: Chase generally does not charge a fee to close a checking or savings account. However, if you have any outstanding fees, a negative balance, or if your account is relatively new (e.g., closed within 90 or 180 days of opening), you might incur an early closure fee. It's always best to clarify this with Chase directly when you initiate the closure.
What to Consider Before Closing (Alternatives)
Before taking the final step, ask yourself if closure is truly the best option:
Monthly Fees: Can you waive monthly maintenance fees by meeting certain requirements (e.g., minimum balance, direct deposit)?
Downgrading: Can you downgrade your account to a fee-free or lower-fee option that better suits your needs?
Dormant Account: If you rarely use the account but want to keep it open for some reason (e.g., potential future use, keeping credit history with Chase if it's linked to a credit card), you could simply transfer out most funds and let it sit with a small balance, ensuring no monthly fees apply.
By following these steps, you can confidently close your Chase bank account and seamlessly transition your finances to a new institution.
QuickTip: Focus on one paragraph at a time.
10 Related FAQ Questions
Here are 10 frequently asked questions about closing a Chase bank account, along with their quick answers:
How to check my Chase account balance before closing?
You can check your Chase account balance by logging into your Chase Online Banking account, using the Chase Mobile App, calling customer service, or visiting a Chase ATM or branch.
How to transfer all my funds out of Chase before closing?
You can transfer funds out of Chase via ACH transfer (to another bank account), wire transfer, withdrawing cash at a branch, or requesting a cashier's check for the remaining balance.
How to update my direct deposits from my closed Chase account?
Contact your employer's HR/payroll department or the issuing agency (e.g., Social Security Administration) and provide them with the new routing and account numbers for your new bank account.
How to change my automatic payments linked to my Chase account?
Log into each service provider's website (utilities, subscriptions, loans, etc.) and update your payment method to your new bank account's details.
QuickTip: Pause at transitions — they signal new ideas.
How to get a confirmation of my Chase account closure?
When closing in person or by phone, ask for a confirmation number or a written confirmation to be mailed or sent via secure message. If closing online, save the secure message confirmation.
How to avoid fees when closing my Chase account?
Generally, there are no fees to close a Chase checking or savings account. However, ensure there's a zero or positive balance and that the account isn't being closed very soon after opening (check terms for early closure fees).
How to close a Chase account with a negative balance?
You must deposit funds to bring your account balance to $0 or positive before Chase will allow you to close it. Any outstanding fees must also be paid.
How to find my Chase account number and routing number for closure?
Your account number can be found on your checks, bank statements, or by logging into your Chase Online Banking. Your routing number is also on checks and available on the Chase website.
How to deal with pending transactions when closing Chase account?
It's best to wait until all pending transactions have cleared before initiating the account closure to avoid complications and potential issues with overdrafts or held funds.
How to reopen a Chase account after it's been closed?
Once a Chase account is formally closed, it generally cannot be reopened. You would need to apply for a new account if you wish to bank with Chase again in the future.
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