How to Close a Chase Account: A Complete Overview

Though Chase is one of the biggest banks in the US, it doesn’t mean it should fit you to a tee by default. You might be disappointed in their services, minimum balance requirements, interest rates, or any number of other features. At some point, your financial circumstances can change, or you can simply decide to move to another financial institution.

Whatever the reason, if you’re wondering how to close a Chase savings account or checking account, you should know that it is a straightforward process when approached with the right steps. In this review, you’ll find guidance on how to cancel a Chase bank account, detailing the necessary information and procedures you’ll need to follow in a concise checklist.

Remove Funds From Your Account

Before asking yourself, “How do I cancel a Chase account?” you should get prepared for the closure. The first step is to open a new account in another financial institution to move your funds (unless you already have one). Alternatively, you can just withdraw your money and get it in cash.

Online Transfers

To transfer your money online, you should sign in to your Chase profile using a mobile app or website. For external transfers, the bank has a $25,000 per day limit for most accounts. For Chase Private Client and Sapphire Banking, this limit is increased to $100,000. The good news is that Chase doesn’t charge fees for outgoing transfers. Remember, though, that the receiving bank or institution may still impose such charges. Common processing time for such transactions is up to 3 business days, so take that into account when planning your expenses.  

Wire Transfer

Wire transfers offer a quick way to send large sums domestically or outside the US. The amount you can wire hinges on both the funds in your account and the limits set by your bank. Once you sign up for wire transfers, you’ll discover your daily transfer limit, and only then will you be asked to add a recipient.

Domestic transfers are fast and can be credited on the same day, while international payments could take a few days, require you to provide identity details, and involve higher processing costs.

Cash Withdrawal

If your Chase account’s remaining balance is relatively low, you can withdraw cash by using an ATM or visiting a local bank branch. Chase charges $3 per withdrawal at a non-Chase ATM in the US, Puerto Rico, and the US Virgin Islands and $5 per withdrawal outside of these areas.

Manage Automatic Payments and Deposits

When you consider how to close a Chase account, don’t forget to cancel or transfer your existing automatic payments and deposit amounts, such as:

• Bills and utilities;
• Loans and mortgages;
• Credit card payments;
• Recurring or subscription services;
• Contributions to investment accounts or retirement funds;
• Investment dividends;
• Automated transfers;
• Salary or wage deposits;
• Government payments and benefits. 

Log into your Chase online account and go to the automatic payments section. Here, you can cancel, edit, or transfer these scheduled payments. You can contact Chase customer service or let a branch rep personally guide you through the process when visiting the bank. After making changes, verify with both Chase and the receiving institution or biller to confirm that the changes have taken effect.

How to Close a Chase Bank Account: Options and Methods

All in all, if you are about to ask Chase to close an account, it won’t be difficult. By getting prepared, as stated above, you’ll ensure a quick and smooth closure through one of the following methods.

1. Online

Though the bank doesn’t offer “click-of-a-button” convenience when you want to close a Chase checking account, you still can do it remotely. In your online banking profile, locate the Secure Message Center and send a message explaining that you want to delete your account. In about 2 days, you’ll get a reply with detailed instructions on what you should do next.

2. By Phone

Call Chase customer service at 1-877-469-0110 in the US and 1-318-340-3308 overseas. Inform the banker of your intention to close the account. They will take you through the necessary steps and may require additional verification for security purposes:

• Account number;
• Personal identification (driver's license, passport, etc.);
• Any remaining checks linked to the account;
• Debit/credit cards associated with the account.

3. In-Person Visit

Visit a Chase branch near you and speak with a bank representative personally to initiate the account closure. They will provide you with the necessary forms to finalize the process and help you complete it as soon as possible.

4. By Mail

It isn't the safest or the most convenient method out there, but it is still available. You can write down a letter asking to cancel your current Chase account. Remember to note your personal details, including full name, address, account number, phone, and email, and put your signature. You should send your request to:

National Bank By Mail, P.O. Box 36520, Louisville, KY 40233-6520

Once the closure is complete, contact a Chase representative in person or through an online platform to make sure that your account has been deleted, and ask for a written confirmation if needed.