How to Close and Cancel a Chase Bank Savings Account Online

Key takeaways:

• You can close your Chase savings account online through the Secure Message Center
• Make sure to transfer any remaining funds to another account before closing
• Ensure all automatic payments and deposits are updated with your new account information
• Keep a record of your closed account statements for future reference

Closing a Chase savings account is a straightforward process that can be done entirely online. Whether you’re switching banks, simplifying your finances, or no longer need the account, follow these steps to close your Chase savings account hassle-free.

Prepare Your Account for Closure

Before initiating the closure process, there are a few things you should do to ensure a smooth transition:

1. Transfer remaining funds: Move any remaining balance in your Chase savings account to another account. You can do this by setting up an external transfer to your new bank account or by transferring the funds to another Chase account if you have one.
2. Update automatic payments and deposits: If you have any automatic payments or deposits set up with your Chase savings account, make sure to update them with your new account information. This includes direct deposits from your employer, recurring bills, and subscriptions.
3. Download account statements: It’s a good idea to download and save your account statements for record-keeping purposes. You can access your statements online by logging into your Chase account and navigating to the “Statements & Documents” section.

Initiate the Account Closure Online

Once you’ve prepared your account for closure, follow these steps to close your Chase savings account online:

1. Log in to your Chase online banking account.
2. Navigate to the “Secure Message Center” located in the top menu.
3. Click on “New Message” and select “Account Inquiry” as the subject.
4. In the message body, state that you want to close your Chase savings account. Provide the following information:

• Your full name
• Your savings account number
• Reason for closing the account (optional)
• Instructions for any remaining balance (e.g., transfer to another account or send a check)

1. Review your message and click “Send.”

A Chase representative will typically respond within 1-2 business days to confirm your account closure request and provide any additional instructions if necessary.

Alternative Methods for Closing Your Account

If you prefer not to close your account online, you have a few other options:

1. Phone: Call Chase customer service at 1-800-935-9935 and request to close your savings account. The representative will guide you through the process and may ask for identifying information to verify your identity.
2. Mail: Write a letter requesting to close your Chase savings account. Include your name, account number, and signature. Mail the letter to: National Bank By Mail
   P.O. Box 36520
   Louisville, KY 40233-6520
3. In-person: Visit a local Chase branch and speak with a banker. They will assist you in closing your account and can help you with any remaining transactions, such as transferring funds or obtaining a cashier’s check for your remaining balance.

What to Do After Closing Your Account

After your Chase savings account is closed, there are a few final steps to take:

1. Destroy your debit card: If you had a debit card associated with your savings account, destroy it to prevent any unauthorized use.
2. Monitor your account: Even though your account is closed, it’s a good idea to monitor it for a few weeks to ensure there are no unexpected transactions or fees.
3. Keep records: Retain a copy of your account closure confirmation and final account statement for your records. This can be helpful if any issues or questions arise in the future.

Conclusion

Closing your Chase savings account online is a simple process that can be completed in just a few steps. By preparing your account for closure, initiating the process through the Secure Message Center, and following up on any remaining tasks, you can successfully close your account and move on to your new banking relationship.

FAQ

Can I reopen my Chase savings account after closing it?

In most cases, you cannot reopen a closed Chase savings account. If you change your mind after closing your account, you will likely need to open a new one.

Will closing my Chase savings account affect my credit score?

No, closing a savings account does not directly impact your credit score. Savings accounts are not included in your credit report, so opening or closing them will not affect your credit.

Is there a fee for closing my Chase savings account?

Chase does not charge a fee for closing a savings account. However, if you close your account shortly after opening it, you may be subject to an early closure fee. Check your account agreement for specific details.

What happens to my automatic payments and deposits after I close my account?

Any automatic payments or deposits set up with your Chase savings account will be rejected once the account is closed. It’s important to update your billing and direct deposit information with your new account details before closing your Chase account to avoid any disruptions.

How long does it take for Chase to close my savings account?

Once you submit your account closure request, it typically takes 1-2 business days for Chase to process and close your account. However, it may take longer if there are any outstanding transactions or issues that need to be resolved.