Ready to part ways with your Truist account? Whether you're consolidating your finances, moving to a new bank, or simply no longer need the account, closing a bank account requires a little preparation to ensure a smooth transition. This comprehensive guide will walk you through every step of the process, ensuring you don't miss a beat.
The Ultimate Guide to Closing Your Truist Account
Closing a bank account might seem straightforward, but there are crucial steps to take before you initiate the closure to avoid fees, disruptions, or even a negative mark on your banking history. Let's get started!
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| How Do I Close My Truist Account |
Step 1: Prepare for Departure - Your Pre-Closure Checklist
Before you even think about calling Truist or walking into a branch, it's essential to get your financial ducks in a row. This is the most critical phase, and skipping it can lead to headaches down the line.
1.1 Drain the Account (Carefully!):
The first and most important step is to reduce your account balance to as close to zero as possible, without going into a negative balance. You can do this by:
- Transferring funds to another account (either at Truist or another bank). Online transfers are often the easiest.
- Withdrawing cash from an ATM or teller.
- Writing a check to yourself or someone you trust (make sure it clears before closing!).
- Using up your debit card balance for small purchases.
- Important Note: Be mindful of any pending transactions. If you have checks that haven't cleared or recent debit card purchases that haven't posted, wait until they do. Closing an account with pending transactions can lead to complications and potential fees.
1.2 Update Direct Deposits:
Do you receive your paycheck, government benefits, or other regular income via direct deposit into your Truist account? If so, you'll need to update this information with your employer, government agency, or other payer. This is crucial to ensure uninterrupted income. Start this process well in advance, as it can sometimes take a pay cycle or two to fully implement the change.
1.3 Reroute Automatic Payments and Subscriptions:
Think about all the bills and subscriptions that are automatically debited from your Truist account. This could include:
- Utility bills (electricity, water, internet)
- Loan payments (car, student, personal)
- Rent or mortgage payments
- Streaming services (Netflix, Spotify, Hulu)
- Gym memberships
- Insurance premiums
- Credit card payments Make a comprehensive list. Then, for each item, log into the service provider's website or contact them directly to update your payment method to a new bank account or credit card. Don't assume they'll figure it out! Failed payments can lead to late fees and service interruptions.
1.4 Review Account History for Recurring Charges:
Go through your last few months of Truist statements (online or paper) with a fine-tooth comb. Look for any recurring charges, even small ones you might have forgotten about. This will help you ensure you've captured all automatic payments and subscriptions.
QuickTip: Skim fast, then return for detail.
1.5 Empty Safety Deposit Boxes (if applicable):
If you have a safety deposit box associated with your Truist account, you'll need to empty its contents and formally close the box before you close your banking account.
1.6 Consider an "Early Closure" Fee:
Some banks, including Truist, may charge an "early closure" fee if you close an account within a certain timeframe of opening it (often 90 to 180 days). Check your account agreement or contact Truist to inquire about this. If such a fee applies and you're within that window, you might consider waiting to avoid it.
Step 2: Choose Your Closure Method - How to Contact Truist
Once you've completed your pre-closure checklist, you're ready to officially inform Truist of your intention to close your account. Truist generally offers a few ways to do this:
2.1 In-Person at a Truist Branch (Recommended for Simplicity):
This is often the easiest and most secure way to close your account, especially if you have a remaining balance or want to ensure everything is handled properly.
- Find a Branch: Use the Truist website's "Find a Branch" tool to locate the nearest Truist branch.
- Bring Identification: You'll need a valid, government-issued photo ID (like a driver's license or passport) to verify your identity.
- Bring Account Information: Have your account number and any associated debit cards or checks readily available.
- Withdraw Remaining Funds: If you haven't already, you can withdraw any remaining balance in cash or request a cashier's check.
- Get Confirmation: Crucially, ask for written confirmation that your account has been closed. This is your proof.
2.2 By Phone (Convenient, but Requires More Follow-Up):
For those who prefer to handle things remotely, calling Truist customer service is an option.
- Truist Customer Service Number: Call 844-4TRUIST (844-487-8478). Customer service hours are typically Monday to Friday, 8 am to 8 pm ET, and Saturday, 8 am to 5 pm ET.
- Be Prepared to Verify Your Identity: They will ask you security questions to confirm you are the account holder.
- State Your Intent Clearly: Inform them you wish to close your account.
- Discuss Remaining Balance: Ask how the remaining balance will be disbursed (e.g., mailed check).
- Request Written Confirmation: Politely but firmly request that written confirmation of the account closure be mailed to you. This is vital for your records. Without this, it can be difficult to prove the account was closed if any issues arise later.
2.3 By Mail (Least Recommended, Slower Process):
While it might be possible to close an account by sending a written request, this is generally the least recommended method due to slower processing times and the lack of immediate confirmation.
Tip: Every word counts — don’t skip too much.
- Draft a Formal Letter: Include your full name, account number, contact information, and a clear statement requesting the account closure.
- Include Instructions for Funds: Specify how you want any remaining funds to be disbursed (e.g., send a check to your address).
- Consider Certified Mail: Send it via certified mail with a return receipt requested so you have proof of delivery.
- Address: You'll need to find the appropriate mailing address for account closures. It's best to call Truist to confirm this before sending.
Step 3: Confirm and Monitor - The Post-Closure Phase
Even after you've initiated the closure, your work isn't quite done.
3.1 Obtain Written Confirmation:
As mentioned, always get written confirmation that your account has been officially closed. This could be a letter mailed to your address or an email confirmation. Keep this document safe with your other financial records.
3.2 Monitor for Errant Transactions:
For a few weeks after closing, keep an eye on your new bank account (where you transferred funds and direct deposits) to ensure all expected income and outgoing payments are correctly routing. Occasionally, a rogue direct deposit or automatic payment might still attempt to hit the closed account. If this happens, Truist will likely return the transaction, but it's good to be aware.
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3.3 Shred Old Account Documents:
Once you have confirmation of closure and have verified all transfers, safely shred any old checks, debit cards, and account statements associated with your closed Truist account to protect your personal information.
Step 4: Be Prepared for the Unexpected - What Else to Know
4.1 Negative Balances:
Truist will not close an account with a negative balance. You'll need to deposit funds to bring the balance to zero (or positive) before they will process the closure request. If you owe fees, be prepared to pay them.
4.2 Joint Accounts:
If it's a joint account, either account holder can generally initiate the closure. However, it's always best practice for both account holders to be present or to consent to the closure to avoid any misunderstandings.
QuickTip: Don’t rush through examples.
4.3 What Happens to Your Information:
Even after your account is closed, Truist will retain your account history and personal information for a period as required by law and their internal policies.
Final Thoughts
Closing a bank account with Truist is a manageable process, but it demands diligence, especially in the preparatory stages. By carefully following these steps, you can ensure a smooth transition and avoid any unwelcome surprises. Good luck with your financial journey!
10 Related FAQ Questions:
How to Check My Truist Account Balance Before Closing?
You can check your Truist account balance by logging into Truist Online Banking, using the Truist mobile app, calling their automated phone banking service, or visiting a Truist ATM or branch.
How to Transfer Funds from a Truist Account to Another Bank?
You can transfer funds electronically via external transfers in Truist Online Banking or the mobile app, by initiating an ACH transfer from your new bank, by writing a check from your Truist account and depositing it into your new account, or by performing a wire transfer (fees may apply).
How to Update Direct Deposit Information for My Paycheck?
Contact your employer's HR or payroll department and provide them with the routing and account number of your new bank account. They will typically have a form or online portal for you to update this information.
How to Change Automatic Bill Payments Linked to My Truist Account?
Log in to each service provider's website (e.g., utility company, credit card, streaming service) and navigate to their payment settings. Update your saved payment method to your new bank account or credit card details.
Tip: Revisit challenging parts.
How to Find a Nearby Truist Branch?
Visit the official Truist website and use their "Find a Branch" or "ATM & Branch Locator" tool, which allows you to search by zip code or address.
How to Obtain Written Confirmation of Truist Account Closure?
When closing your account in person, ask the representative for a printed confirmation. If closing by phone, explicitly request that a written confirmation letter be mailed to your address.
How to Handle a Negative Balance When Closing My Truist Account?
You must deposit enough funds into the account to bring the balance to zero or a positive amount before Truist will process your account closure request.
How to Close a Joint Truist Account?
While typically either account holder can initiate the closure, it is advisable for both joint account holders to be present at the branch or to both agree to the closure if doing it by phone/mail, to ensure a seamless process.
How to Protect My Personal Information After Closing My Truist Account?
Shred all old checks, debit cards, and account statements related to the closed account. Continue to monitor your credit report for any unusual activity.
How to Reopen a Truist Account After It Has Been Closed?
Generally, once an account is formally closed, it cannot be reopened. You would typically need to apply for a new account if you wish to bank with Truist again.
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