Closing a bank account might seem like a daunting task, but with the right preparation and a clear understanding of the process, it can be a smooth transition. If you're looking to close your Truist account, you've come to the right place. This comprehensive guide will walk you through every step, ensuring you don't miss a beat.
Ready to take control of your financial journey and say goodbye to your Truist account? Let's dive in!
Step 1: Prepare for Departure - The Essential Pre-Closure Checklist
Before you even think about contacting Truist, it's crucial to get your financial ducks in a row. Skipping this step can lead to significant headaches and financial disruptions down the line.
1.1: Redirect All Automatic Payments and Direct Deposits
This is perhaps the most critical pre-closure step. Think about everything linked to your Truist account:
- Direct Deposits: Your paycheck, government benefits (Social Security, veteran benefits), or any other regular income. Contact your employer's HR or the relevant agency to update your direct deposit information to your new bank account.
- Automatic Bill Payments: Utility bills (electricity, water, gas), mortgage or rent payments, loan payments, insurance premiums, subscriptions (streaming services, gym memberships), and credit card payments. Go through each of these services and update your payment method to your new account. It's a good idea to check your last few bank statements to ensure you don't miss any.
- Linked Accounts: Any investment accounts, peer-to-peer payment apps (like Venmo, PayPal, Zelle if not directly linked to Truist), or other financial services that draw funds from or deposit funds into your Truist account. Update these connections.
1.2: Transfer Remaining Funds
You'll want to move all the money out of your Truist account before closing it.
QuickTip: Go back if you lost the thread.
- Electronic Transfers: The easiest way to do this is often through an electronic transfer to your new bank account. You can typically initiate this from your new bank by linking your Truist account, or you can use Truist's online banking or mobile app to transfer funds to an external account. Be aware of daily transfer limits and potential transfer fees.
- Withdraw Cash: For smaller balances, withdrawing cash at a Truist ATM or branch is an option.
- Cashier's Check/Money Order: If you have a substantial balance and prefer a physical form of transfer, you can request a cashier's check or money order for the full amount. Be mindful of any associated fees.
- No Pending Transactions: Ensure there are no pending transactions (checks that haven't cleared, debit card purchases that haven't posted) before initiating the transfer or closure. This can complicate the closing process.
1.3: Review Truist Account Activity
Go through your recent statements to ensure you haven't missed any recurring transactions. This also helps you verify the final balance before closing. Look for:
- Any unusual activity that needs addressing.
- Any annual fees or other charges that might be upcoming.
1.4: Gather Necessary Documents
While the exact requirements can vary slightly, generally you'll need:
- Valid Government-Issued Photo ID: Such as a driver's license, state ID, or passport.
- Your Truist Account Number(s): This is essential for the bank to locate and process your request.
- If applicable for specific situations (e.g., closing an account for a deceased person), additional documents like a death certificate might be required.
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| How To Close Out Truist Account |
Step 2: Choose Your Closing Method - How to Inform Truist
Truist offers a few ways to close your account. Consider which method is most convenient and secure for your situation.
2.1: In-Person at a Truist Branch (Recommended for finality)
- This is often the most straightforward and recommended method, especially if you want immediate confirmation and a final receipt.
- Locate a Branch: Use the Truist website or mobile app to find the nearest branch.
- Bring Documents: Carry your valid photo ID and your Truist account number(s).
- Speak to a Representative: Inform the representative that you wish to close your account(s). They will guide you through the necessary paperwork.
- Receive Confirmation: Crucially, ask for a written confirmation or a zero-balance statement showing that the account has been closed. This is your proof of closure.
2.2: By Phone (Convenient but requires careful follow-up)
- While convenient, closing by phone might require more diligence on your part to ensure the closure is processed correctly.
- Call Truist Customer Service: Dial 844-4TRUIST (844-487-8478). Be prepared for potential wait times.
- Verify Identity: You'll likely need to answer security questions to verify your identity.
- State Your Intent: Clearly state that you wish to close your account(s).
- Request Confirmation: Ask the representative to send you a written confirmation of account closure via mail or email. Make a note of the representative's name and the date/time of your call.
- Important Note: Some account types or balances may require an in-person visit or a written request even if you initially try to close by phone.
2.3: By Mail (Least Recommended - Slower and less immediate confirmation)
- This method is generally not recommended due to its slow nature and lack of immediate confirmation, but it can be an option if other methods are not feasible.
- Write a Formal Request Letter: Include your full name, address, Truist account number(s), and a clear statement requesting the closure of your account(s).
- Include Identification: You might need to include a notarized copy of your government-issued ID for verification.
- Specify Fund Disbursement: Clearly state how you want any remaining funds to be disbursed (e.g., sent as a cashier's check to your address).
- Send Certified Mail: Send the letter via certified mail with a return receipt requested. This provides proof that your letter was received.
- Follow Up: Call Truist customer service after a reasonable period (e.g., 1-2 weeks) to confirm receipt of your letter and the status of your account closure.
Step 3: Verify and Confirm - The Final Steps
You've done the work, now it's time to ensure everything is in order.
Tip: Don’t just glance — focus.
3.1: Monitor Your New Account
- After transferring funds, keep a close eye on your new bank account to ensure all expected direct deposits and automatic payments are redirecting correctly.
3.2: Confirm Account Closure
- Whether you closed in person, by phone, or by mail, always get written confirmation from Truist that your account has been closed and has a zero balance. This is your official record.
- If you don't receive it within a reasonable timeframe (e.g., 1-2 weeks), follow up with Truist.
3.3: Destroy Old Banking Materials
- Once you have confirmed the account closure, safely destroy your Truist debit cards, checks, and any other sensitive banking documents. Shredding is highly recommended.
Understanding Potential Fees
Generally, closing a standard checking or savings account with Truist does not incur a direct closure fee. However, there are a few scenarios where fees might be involved:
- Charged-Off Account Fee: If your account is closed in a "charged-off status" (meaning it had a negative balance that wasn't settled), there might be a fee (e.g., $30).
- Early Account Closure: Some banks may have a policy of charging a fee if an account is closed within a very short period after opening (e.g., 90-180 days). Check your account's terms and conditions or speak to a Truist representative to confirm if this applies to your specific account.
- Overdrafts/Negative Balance: Ensure your account balance is positive before initiating closure. A negative balance will prevent closure until it's settled.
- Wire Transfer Fees: If you choose to wire a large sum of money from your Truist account to another bank, standard wire transfer fees may apply.
Why Are You Closing Your Account?
Understanding your reasons for closing can sometimes influence the process or what you need to consider.
- Relocation: Moving to an area without Truist branches.
- Better Rates/Services: Found a bank with more favorable terms or features.
- Consolidation: Simplifying your finances by having fewer bank accounts.
- Dissatisfaction: Unhappy with Truist's customer service or policies.
Regardless of your reason, the steps outlined above will guide you through a smooth closure process.
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10 Related FAQ Questions
How to transfer funds from Truist before closing an account?
You can transfer funds electronically via online banking or the mobile app to a linked external account, initiate a wire transfer, withdraw cash at an ATM or branch, or request a cashier's check for the remaining balance.
QuickTip: Skip distractions — focus on the words.
How to ensure all automatic payments are redirected from my Truist account?
Review your past bank statements to identify all recurring debits. Then, contact each service provider (utilities, subscriptions, loans, etc.) individually to update your payment method to your new bank account.
How to find my Truist account number for closure?
Your Truist account number can be found on your checks, bank statements, or by logging into your Truist online banking account and viewing account details.
How to close a Truist account if I have a negative balance?
You must deposit enough funds to bring your account balance to zero or positive before Truist will allow you to close the account. A charged-off account with a negative balance may incur a fee.
How to get a confirmation of account closure from Truist?
When closing in person, request a printed zero-balance statement or a written confirmation. If closing by phone or mail, explicitly request that a written confirmation of closure be mailed or emailed to you.
Reminder: Take a short break if the post feels long.
How to destroy old Truist debit cards and checks?
Once your account is confirmed closed, cut up your debit card and shred any remaining checks or sensitive banking documents to prevent fraud.
How to close a Truist account if I am out of the country?
Contact Truist customer service by phone (844-4TRUIST or +1-910-914-8250 for international calls) or consider sending a formal written request via certified mail, though this is less recommended for immediate closure.
How to close a Truist account for a deceased individual?
You will typically need to provide a certified copy of the death certificate, identification for the executor/administrator, and documentation related to the estate. It's best to contact Truist's specialized deceased account services or visit a branch for specific guidance.
How to check if there are any pending transactions before closing my Truist account?
Log in to your Truist online banking or mobile app and review your recent transaction history. Ensure all debits and credits have fully posted and nothing is pending.
How to avoid fees when closing a Truist account?
Ensure your account balance is positive, all pending transactions have cleared, and that you haven't recently opened the account (to avoid potential early closure fees, if applicable). Confirm with a Truist representative if any fees apply to your specific account type.
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