Personal Finance Bank accounts

How to close a Chase checking or savings account?

Adam Rozsa
Adam Rozsa
21.04.21 (updated more than 1 year ago)
Read time 2 minutes

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.

Open a Wise account

📝 Table of contents

Before you close your Chase account

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.

1. Open a new account to have a backup ready

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.

It’s a good idea to have a solid alternative ready. How about Wise? With a multi-currency account you can hold more than 40 currencies and send money abroad with the mid-market rate plus a small and transparent fee.

2. Zero out the balance

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.

3. Review auto drafts, subscriptions and deposits

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.

4. Negative balance and fees

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.

How to close your Chase checking or savings account?

How to close your Chase checking or savings account?

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.

Does Closing your Chase Account Affect Your Credit Score?

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.

Looking for alternatives? Meet Wise

If you’re looking for an alternative to big banks, maybe it’s time to meet Wise. You can open an account online to manage your funds from anywhere in the world. Save money with low, transparent fees. Start sending money at the mid-market rate and with no currency mark-ups through Wise today!

Get a Wise account in today

Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date information on pricing and fees.

Frequently Asked Questions

Is there a fee for closing a Chase bank account?

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.

How long does it take to close a Chase bank account?

Anywhere from 1-2 business days if the account balance is in good standing.

Is it bad to close a checking account?

It’s not a bad thing, there are plenty of services on the market—one of them is Wise.

Learn more about Wise

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.

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