How to close your ANZ Bank account

The Australia and New Zealand Banking Group, most commonly known as ANZ Bank, is one of the top four banks in Australia. Although ANZ is a well-regarded bank on today’s market, there are a number of reasons why you might want to close your account. For example, if another bank offers a better service for your needs or if you’re leaving the country. In this guide, we'll fill you in on how to close your ANZ bank account. 

How to close your bank account with ANZ

There are 2 ways to close your ANZ account. You'll either have to call them on the phone or visit a bank branch.

Your first step will be to withdraw all of your money from the ANZ account or transfer it to another bank account. If you want to send it to another country, you can use Wise to send the money overseas with minimal trouble.

Wise provides you the real exchange rate and transparent transfer fees shown upfront.

Learn more about Wise

You can also open a Multi-Currency account to hold your money while you think about your next move. 

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You will also have to clear any bills, settle or move away loans or mortgages, overdrafts or investments linked to the account. If you undertook a minimum term for deposits, then there may also be some fees associated with any withdrawal.

🚨 It’s advisable to download all bank statements from that account before you close it. These may be needed in the future, so take the time to download them all or get them from your bank branch.

Close your ANZ account on the phone — within Australia or from abroad

You can contact ANZ using the details below:

• Call ANZ on 13 13 14 if you’re in Australia (between 8.00AM and 8.00PM)
• From overseas, call  +61 3 9683 9999 (make sure to call during Australian business hours)

There will also be ID checks carried out over the phone if you close your account in this way. Make sure to have your bank account details and credentials at hand. You'll also need to have your ID and any other documents you used to open the account ready.

Close your ANZ account at a bank branch

Have all your documents, bank cards and IDs with you when you visit the branch to close your account. By visiting a branch in person, you can also request the full bank account statements printed out.

How to close your ANZ Credit Card Account

If you have a credit card attached to this account, make sure the balance is covered and at zero. The process of closing the credit card account is similar to the bank account. It can be done at the same time.

You will need to call the phone number provided above or go into the branch to close the account. The account will have to be in credit or have a balance of zero to be cancelled. If it is in positive credit, a cheque will be sent to you.

Note that If the credit card account is closed, all credit cards issued in relation to that credit card account will also be cancelled.

To cancel the card itself:

• you can hand it over to the teller assisting you with the closure at the bank branch or
• cut the card diagonally (this includes cutting the chip) and send it back to ANZ² if you are closing the account on the phone.

Are there any fees to close an ANZ account?

ANZ doesn't state any fees to pay when you close your account. If you have to transfer your balance over to another bank, you’ll have to consider the bank transfer fees for that transaction.

However, if you have an account that has a minimum term deposit in place, there may be some fees associated with removing your funds from the minimum term.³

Alternative Banks and Financial Services

If ANZ doesn’t offer the service that you want, there are other major banks you can check out. You could shop around the other 3 banks of the ‘big four’ —  Westpac, NAB or Commbank.

You might also want to put traditional banks behind you and go with a stress-free, flexible and dynamic financial service like Wise.

Try Wise

Wise offers international payment services as well as a smart and flexible Multi-Currency account. If you’re looking for an alternative to traditional banks, which also cuts the costs of sending money overseas, Wise is for you.

Your multi-currency account can hold 40+ currencies, receive fee free payments using your very own AUD account details, send money to 160+ countries, always using the mid-market rate — with a low and transparent fee.

You can also have a debit card to spend with at home and avoid foreign transaction fees while overseas.

Register your Wise account in minutes

If you’re looking to move your balance from your ANZ account abroad, you can use our pricing calculator below to have an idea of how much you get to save with Wise. 

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  Sources used for this article:

1. ANZ how to close your account FAQ
2. ANZ credit card terms and conditions (Page 53)
3. ANZ Savings account product information
   Sources checked on 29 September 2021