It sounds like you're looking to close your account with Truist. Whether you're consolidating finances, switching banks, or simply no longer need the account, the process requires a bit of preparation to ensure a smooth transition. Let's walk through it step-by-step.
How to Close an Account on Truist: A Comprehensive Guide
Closing a bank account might seem straightforward, but there are crucial steps to take beforehand to avoid any unexpected fees, bounced payments, or complications. This guide will walk you through everything you need to know to successfully close your Truist account.
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| How To Close An Account On Truist |
Step 1: Are you absolutely sure you're ready to close your Truist account?
Before you take any irreversible steps, let's confirm this is the right move for you. Have you considered why you want to close it? Are you moving to a new bank with better rates, or perhaps consolidating accounts? Understanding your motivation can help you confirm that closing is the best option. Take a moment to review your recent statements and assess if there are any lingering reasons to keep the account open, even temporarily.
Sub-heading: Why Consider Closing Your Account?
There are many reasons one might decide to close a bank account. Perhaps you've:
- Found a bank with better interest rates or lower fees.
- Moved to a new area where Truist branches are less convenient.
- Experienced a change in financial needs or goals.
- Are simplifying your banking and reducing the number of accounts you manage.
- Are dissatisfied with customer service or digital banking features.
Whatever your reason, being prepared is key to a hassle-free closure.
Step 2: Clean Up Your Account: Zero Out Your Balance and Update Transactions
This is perhaps the most critical step. You cannot close an account with a pending balance, whether positive or negative.
QuickTip: Check if a section answers your question.
Sub-heading: Emptying Your Account
- Withdraw or Transfer Funds: Ensure your account balance is as close to zero as possible.
- Transfer to another account: The easiest way to do this is often by transferring funds to another Truist account you hold (if applicable) or to an external bank account. You can typically do this through online banking, the mobile app, or by visiting a branch.
- Cash Withdrawal: For smaller balances, you might opt to withdraw the remaining funds in cash at a Truist ATM or branch.
- Cashier's Check: For larger sums, or if you prefer a physical check, you can request a cashier's check for the remaining balance. Be aware that some banks might charge a fee for this.
- Account for Pending Transactions: Check for any outstanding checks you've written that haven't cleared yet, or any debit card transactions that are still pending. Wait for these to clear before attempting to close the account to avoid overdrafts or returned items. It's often recommended to leave a small buffer (e.g., $5-$10) in the account until you officially close it, just in case a small, unexpected charge posts.
- Cancel Automatic Payments and Direct Deposits: This is crucial. Any recurring direct deposits (like your salary or benefits) and automatic payments (like utility bills, subscriptions, or loan payments) linked to your Truist account must be updated to your new account information before you initiate closure. Failing to do so will result in missed payments or returned deposits, leading to late fees or other inconveniences.
- Contact each payee directly (your employer, utility companies, streaming services, etc.) to provide them with your new banking details.
- Consider setting up these payments and deposits with your new bank before you close your Truist account. This creates a smooth transition.
Step 3: Choose Your Closure Method: Online, Phone, or In-Person
Truist offers several ways to close your account. The best method for you might depend on the type of account, whether there's a balance, and your preference for direct interaction.
Sub-heading: Online Account Closure (Limited Availability)
While some banks allow full online closure for certain account types, it's generally not the primary method for Truist, especially for accounts with a balance or complex situations.
- Check Online Banking: Log in to your Truist online banking portal. Navigate to your account details. Look for options related to "Account Services," "Manage Account," or "Close Account." If an online closure option is available and your account meets the criteria (often a zero balance and no pending transactions), you may be able to proceed here. However, be prepared to be redirected to phone or branch options.
Sub-heading: Closing by Phone (Recommended for Simplicity)
This is often the most convenient method for many people.
- Gather Your Information: Before calling, have your account number, personal identification details (Social Security Number, date of birth), and any relevant security questions ready.
- Call Truist Customer Service: The primary number for Truist customer service is 844-4TRUIST (844-487-8478).
- Hours of Operation (typically): Monday-Friday, 8 am to 8 pm ET; Saturday, 8 am to 5 pm ET. Automated assistance is available 24/7.
- Inform the representative that you wish to close your account. They will guide you through the necessary steps and verification process.
- Be prepared to answer security questions to verify your identity.
- They will confirm the account balance, any pending transactions, and whether any fees apply (see Step 4).
- Request a confirmation number or email for your records once the closure is initiated.
Sub-heading: In-Person Branch Closure (Best for Complex Situations or Finality)
For those who prefer face-to-face interaction or have more complex account situations (e.g., joint accounts, multiple accounts to close, or specific inquiries), visiting a branch is a good option.
- Locate a Truist Branch: Use the Truist website's "Find a Branch" tool to locate the nearest branch.
- Bring Required Documentation:
- Valid Photo ID: A government-issued ID like a driver's license or passport.
- Account Number(s): Have the account number(s) of the account(s) you wish to close readily available.
- Debit Card/Checks (Optional): While not strictly required for closure, it's good practice to bring your debit card and any unused checks associated with the account to be shredded or returned.
- Speak with a Representative: Inform the branch representative of your intention to close the account. They will verify your identity, process the closure, and handle any remaining funds or fees.
- Ask for a printed confirmation of the account closure before you leave.
Step 4: Understand Potential Fees
While closing a bank account often comes with no fee, there are a few scenarios where a charge might apply.
Tip: Break long posts into short reading sessions.
- Early Account Closure Fee: Some banks, including Truist, may charge a fee if you close an account within a short period of opening it (e.g., 90 to 180 days). This is to discourage individuals from opening and quickly closing accounts to take advantage of promotions. Check your account's terms and conditions or ask a representative if this applies to your account. If there is a fee, you might consider waiting until the specified period has passed.
- Charged-Off Account Fee: If your account is being closed in a "charged-off" status (meaning you owe money to the bank and it's been deemed uncollectible), there may be a fee. For instance, some Truist disclosures mention a $30 fee for accounts closed in a charged-off status. Ensure your account is in good standing with a positive or zero balance.
Step 5: Obtain Confirmation of Closure
This step is vital for your records and peace of mind.
- Request Written Confirmation: Regardless of how you close your account (phone or in-person), always request written confirmation that your account has been officially closed. This can be an email, a letter mailed to your address, or a printed receipt from a branch.
- Keep Records: File this confirmation with your other important financial documents. This serves as proof that you no longer have obligations related to that account.
- Monitor Your Credit Report (Optional but Recommended): A few weeks after closure, you can periodically check your credit report to ensure the account is no longer listed as active. This also helps detect any unauthorized activity.
Step 6: Destroy Associated Cards and Checks
Once you've received confirmation of closure, take steps to secure your personal information.
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- Shred Debit Cards and Checks: Do not simply throw away your debit card or unused checks. Shred them thoroughly to prevent identity theft or fraudulent use. Cut through the magnetic strip and chip on the debit card.
- Update Digital Wallets: Remove your Truist debit card information from any digital wallets (Apple Pay, Google Pay, etc.) and online retailers where it might be saved.
By following these steps meticulously, you can ensure a smooth and secure closure of your Truist account.
10 Related FAQ Questions: How to...
Here are some quick answers to common questions about closing a Truist account:
How to check my Truist account balance before closing? You can check your balance through Truist online banking, the mobile app, by calling customer service (844-4TRUIST), or by visiting a Truist ATM or branch.
Tip: Patience makes reading smoother.
How to transfer funds from my Truist account to another bank? You can initiate an external transfer through online banking (linking external accounts), a wire transfer (fees may apply), or by withdrawing funds and depositing them into your new bank.
How to ensure all automatic payments are cancelled? You must contact each biller or service provider directly (e.g., utility company, streaming service, employer for direct deposit) and update your payment/deposit information to your new bank account before closing your Truist account.
How to find my Truist account number for closure? Your account number can be found on your checks, bank statements, or within your Truist online banking or mobile app details for the specific account.
How to avoid early account closure fees with Truist? Check your account's terms and conditions or ask a Truist representative if an early closure fee applies. If it does, you might need to keep the account open for a specified period (e.g., 90-180 days) to avoid the fee.
How to get a final statement after closing my Truist account? When you close your account, request a final statement or a written confirmation of closure. This document will serve as proof.
Tip: Don’t skim — absorb.
How to close a joint Truist account? Typically, all account holders on a joint account need to consent to its closure. It's often best for all parties to be present if closing in person, or for the primary account holder to initiate the process with proper verification if via phone.
How to close a Truist account if I'm overseas? You can usually close your account by calling Truist customer service at +1-910-914-8250 (their international number) or by sending a written request if they provide that option. Ensure you have alternative arrangements for receiving any remaining funds.
How to deal with a negative balance when closing a Truist account? You must pay off any negative balance, overdrafts, or fees before Truist will allow you to close the account. Failure to do so could result in the account being "charged-off," which can negatively impact your credit.
How to confirm my Truist account is truly closed? After initiating the closure, request a written or email confirmation. Keep this for your records. You can also occasionally check your credit report to ensure the account no longer appears as active.
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