Deciding to close a bank account is a significant financial decision, and if you've landed on this guide, it's likely you're considering saying goodbye to your Chase Bank account. Whether you're moving, looking for better rates, or simply consolidating your finances, this detailed, step-by-step guide will walk you through everything you need to know to ensure a smooth and hassle-free closure.
Are you ready to take control of your banking experience? Let's dive in!
Step 1: The Pre-Closure Checklist - Your Essential Preparations
Before you even think about contacting Chase, there are some critical preliminary steps you need to take. Skipping these can lead to missed payments, financial headaches, or even a negative impact on your credit score.
1.1 Open a New Bank Account (if you don't have one already!)
This might seem obvious, but it's the absolute first and most important step. You need a new home for your funds and for any incoming or outgoing transactions.
Action: Research and open an account with another financial institution that better suits your needs. Ensure it's fully operational and you have access to online banking, debit cards, and checks.
Why it's crucial: You'll need somewhere to transfer your existing Chase balance and redirect all your automatic payments and direct deposits.
1.2 Update All Automatic Payments and Direct Deposits
This is where most people run into trouble. Imagine missing your rent or utility payment because it was still linked to your old Chase account!
Action: Go through your last few Chase statements (at least 3-6 months worth) to identify all recurring payments and direct deposits. This includes:
Utility bills: Electricity, water, gas, internet, phone.
Loan payments: Mortgage, car loans, student loans.
Subscriptions: Netflix, Spotify, gym memberships, online services.
Credit card payments: Any automatic payments you make to your credit cards.
Direct deposits: Your salary, government benefits, investment dividends.
Execution: Contact each biller, employer, or service provider and update your payment information with your new bank account details. It's advisable to do this well in advance, ideally 15-30 days before your next scheduled payment or deposit. Confirm with both your new bank and the biller/employer that the changes have taken effect.
1.3 Zero Out Your Chase Account Balance (or get it close to zero)
Chase will generally require your account to have a zero balance to close it.
Action:
Transfer funds: The safest and most common way is to transfer the remaining balance to your newly opened bank account. You can do this through an online transfer, wire transfer (check for fees), or by writing a check from your Chase account to deposit into your new account.
Withdraw cash: For smaller balances, you can withdraw cash from an ATM (be mindful of daily limits) or visit a Chase branch to withdraw the full amount.
Important Note: Do not leave a negative balance! If your account has a negative balance or any outstanding fees, you must pay them off before closing. Failure to do so can negatively impact your credit score and potentially lead to collections.
1.4 Download and Save Bank Statements
Once your account is closed, accessing past statements can become more difficult.
Action: Log into your Chase online banking portal and download all necessary statements. It's a good idea to save at least the last 2-3 years of statements, or any that you might need for tax purposes or record-keeping. Store them securely on your computer or a cloud service.
1.5 Double-Check for Pending Transactions
Ensure there are no outstanding checks or pending debit card transactions that could hit your account after you've tried to close it.
Action: Allow a few days after your last transaction for everything to clear. If you've recently written checks, confirm they've been cashed.
Step 2: Choosing Your Closure Method - How to Close Your Chase Account
Chase offers several convenient ways to close your account. Choose the method that best suits your comfort level and availability.
2.1 Closing Your Chase Account Online (via Secure Message Center)
This is often the most convenient option if you manage your accounts online.
Sub-step 2.1.1: Log In and Navigate
Action: Go to the Chase.com website and log in to your online banking account.
Action: Look for the "Secure Message Center" or "Contact Us" section. This is usually found in the main menu or under your profile settings.
Sub-step 2.1.2: Compose Your Message
Action: Select "New Message" or a similar option.
Action: Choose a relevant topic, such as "Account Inquiry" or "Close My Account" if available.
Action: Draft a clear and concise message stating your intent to close your Chase checking and/or savings account(s). Be sure to include:
Your full name
Your Chase account number(s) (e.g., Chase Total Checking, Chase Savings)
A brief reason for closure (optional, but can be helpful)
A request for confirmation of closure.
Example Message: "Dear Chase Customer Service, I am writing to formally request the closure of my Chase checking account, account number [Your Account Number], and my Chase savings account, account number [Your Savings Account Number]. I have transferred all funds and updated all automatic payments and direct deposits to a new institution. Please confirm the closure of these accounts. Thank you."
Sub-step 2.1.3: Send and Await Response
Action: Send the message.
Expectation: Chase typically responds within 1-2 business days with further instructions or confirmation. They may ask for additional verification.
2.2 Closing Your Chase Account by Phone
If you prefer speaking to a representative or need immediate assistance, a phone call is a good option.
Sub-step 2.2.1: Gather Your Information
What you'll need: Your account number, personal identification details (Social Security Number, address), and potentially your debit card number.
Sub-step 2.2.2: Dial the Right Number
Action: Call Chase customer service.
For checking or savings accounts: 1-800-935-9935
For credit cards: 1-800-432-3117
Tip: Have your account details readily available to expedite the process.
Sub-step 2.2.3: Speak to a Representative
Action: Inform the representative of your intention to close your account(s).
Verification: Be prepared to answer security questions to verify your identity.
Follow Instructions: The representative will guide you through the process, confirm your balance (which should ideally be zero or very low), and process the closure. Ask for a confirmation number or email.
2.3 Closing Your Chase Account In-Person (at a Branch)
For those who prefer face-to-face interaction or have a complex situation, visiting a branch is ideal.
Sub-step 2.3.1: Locate a Branch
Action: Use the Chase Branch Locator tool on their website to find the nearest branch.
Sub-step 2.3.2: Prepare for Your Visit
What to bring:
Valid government-issued ID (e.g., Driver's License, Passport)
Your Chase debit card(s)
Your Chase account number(s)
Any uncashed checks from the account (if applicable)
Recommendation: Even if you've already transferred funds, ensure your balance is at or near zero before visiting.
Sub-step 2.3.3: Speak to a Banker
Action: Inform the bank representative that you wish to close your account(s).
Process: They will verify your identity, confirm the account balance, and provide you with the necessary forms to sign. They can also assist with any final fund transfers or cash withdrawals.
Confirmation: Request a written confirmation of the account closure.
2.4 Closing Your Chase Account by Mail
This method is generally less convenient and slower, but it's an option if other methods aren't feasible.
Sub-step 2.4.1: Draft a Formal Letter
Content:
Your full name
Current address
Phone number
Email address
Your Chase account number(s) (clearly specify checking or savings)
A clear statement requesting account closure
Your signature
Reason (optional): You can briefly state why you're closing the account.
Important: If there's a remaining balance, specify how you'd like the funds disbursed (e.g., mailed as a check to your address). However, it's highly recommended to clear the balance yourself beforehand.
Sub-step 2.4.2: Mail Your Request
Address: National Bank By Mail P.O. Box 36520 Louisville, KY 40233-6520
Consider: Sending it via certified mail with a return receipt requested for proof of delivery.
Sub-step 2.4.3: Await Confirmation
Expectation: It may take several weeks for Chase to process your request and send confirmation via mail. Follow up by phone if you don't hear back within a reasonable timeframe.
Step 3: Post-Closure Actions - Ensuring Everything is Complete
You've initiated the closure, but your work isn't quite done.
3.1 Confirm Account Closure
Action: Once you've completed one of the closure methods, wait a few business days, then attempt to log into your Chase online account. If you can no longer access it or see the account, it's a good sign it's closed.
Action: If you closed via phone or in-person, request a written confirmation of closure for your records. If you used the Secure Message Center, save the confirmation message.
3.2 Monitor Your New Account
Action: Keep a close eye on your new bank account for a few months to ensure all direct deposits and automatic payments have successfully transitioned. This will catch any overlooked subscriptions or bills.
3.3 Shred Old Documents and Cards
Action: Once you're certain the account is closed, securely shred your old Chase debit cards, unused checks, and any documents containing your account number.
Does Closing a Chase Account Affect Your Credit Score?
Generally, closing a checking or savings account does not directly impact your credit score. Your credit score is primarily affected by credit accounts (credit cards, loans) and your payment history on those.
However, there are two scenarios where closing a bank account could indirectly affect your credit:
Negative Balance or Unpaid Fees: If you close an account with an outstanding negative balance or unpaid fees, Chase could send the debt to collections. This will show up on your credit report and negatively affect your score.
Overdraft History (less common): While rare, a history of frequent and large overdrafts that weren't repaid could be reported to specialized banking reporting agencies (like ChexSystems), which can make it harder to open new bank accounts in the future.
The key is to follow the preparation steps carefully, especially zeroing out your balance and paying off any fees.
Frequently Asked Questions (FAQs) - How to Get Rid of a Chase Bank Account
Here are 10 common questions related to closing a Chase bank account, with quick answers:
How to: Close a Chase checking account?
You can close a Chase checking account online via the Secure Message Center, by phone (1-800-935-9935), in person at a branch, or by mail.
How to: Close a Chase savings account?
The process for closing a Chase savings account is the same as a checking account: online, by phone, in person, or by mail.
How to: Find my Chase account number for closure?
Your Chase account number can be found on your checks, bank statements, or by logging into your Chase online banking account.
How to: Transfer money out of Chase before closing?
You can transfer money out of your Chase account via online transfer to an external linked account, wire transfer, or by withdrawing cash at an ATM or branch.
How to: Know if my Chase account is fully closed?
Attempt to log into your online banking; if you can't access the account or it no longer appears, it's likely closed. You can also request written confirmation from Chase.
How to: Avoid fees when closing a Chase account?
Chase typically does not charge a fee to close an account, but you must ensure there is no negative balance or outstanding fees on the account before closing to avoid potential charges or collection issues.
How to: Handle automatic payments linked to my Chase account?
Before closing, contact each biller or service provider to update your automatic payment information with your new bank account details. Do this well in advance.
How to: Close a Chase credit card account?
Closing a Chase credit card account involves a similar process (phone, online secure message, mail) but has different implications for your credit score. It's best to call the credit card customer service number (1-800-432-3117).
How to: Get help if I encounter issues closing my Chase account?
If you face difficulties, contact Chase customer service directly by phone or visit a local branch for personalized assistance.
How to: Get a confirmation of account closure from Chase?
When closing in-person or by phone, explicitly request a written confirmation. If using the Secure Message Center, save the final confirmation message from Chase.