These days, the competition among financial institutions is huge. If you’re thinking about closing your bank account and looking for a better option—you may easily find one in no time.
Made up your mind? In this guide, we’ll show you how to close a Chase checking or savings account.
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The process to close the account is simple. But before closing your Chase checking or savings account, there’s a small checklist of things you’ll want to do first.
Before you close your account, it’s important to have another one open to transfer your funds there. If you need to open a new account outside of Chase, do so before initiating the closing process.
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The next step is to zero out the balance of your account. As we already mentioned, it’s best to transfer any remaining balances into another account. Using a bank account is always a better option than carrying too much cash with yourself.
Make sure to examine your statements and transfer any auto drafts like utility bills or car payments to another account. Double check all of your subscription services like Netflix, Hulu, and check if the account is still linked to Google Pay or Apple Pay.
Also, be sure to notify your employer or any clients of your new account information so deposited money routes correctly. This is where opening a new account beforehand comes in handy.
If your account has a negative balance or pending or unpaid bank fees, it’s important to pay those off before closing the account as unpaid balances might affect your credit score with major credit bureaus.
Currently, these are your options available to close a Chase account:
The simplest way is to close the account online. Just sign in to the account through Chase’s website and under ‘Secure message center’, there’s an option to send an email requesting to close the account. Within 2 business days, you should receive an answer that contains follow-up questions and instructions.
Go to a Chase branch and ask to speak with a banker and they can help you with closing the account. Make sure to verify your identity first with your personal information such as social security number, driver's license—or ID card.
Call the Chase Bank customer service number at 1-800-935-9935 and follow the instructions to verify your account information. From there, you can speak with a banker and request to close the account.
Alternatively, submit a request via mail to: National Bank By Mail, P.O. Box 36520, Louisville, KY 40233-6520.
You can close your Chase account without affecting your credit score as long as you follow the steps on what to do before closing your account. If your account is in good standing with no unpaid fees or a negative balance, there’s no reason it should negatively affect your score.
If you’re looking for an alternative to big banks, maybe it’s time to meet Wise. You can open an account online for free and manage your funds from anywhere in the world. Save up to 7x on money transfers with low, transparent fees. Start sending money at the mid-market rate and with no currency mark-ups through Wise today!
There is no direct fee to close your account, but make sure to double-check if your account isn’t overdrawn – and the balance is at zero.
Anywhere from 1-2 business days if the account balance is in good standing.
It’s not a bad thing, there are plenty of services on the market—one of them is Wise.
This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from TransferWise Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.
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