How to Close a Chase Bank Account: Step-by-Step Guide
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While Chase is one of the largest banks in the US, that doesn’t automatically mean it’s the perfect fit for everyone. You might find that its services , minimum balance requirements, interest rates, or other features don’t align with your financial needs.
If you’re wondering how to close a Chase savings account or checking account, the process is straightforward when handled correctly. In this guide, you’ll learn how to close a Chase bank account, along with the necessary steps and key details to ensure a smooth transition.
Can You Close a Chase Bank Account?
JPMorgan Chase allows customers to close checking, savings, and credit card accounts without major complications. The most common reasons people close their Chase accounts include:
- Higher monthly maintenance fees.
- Better rates at another bank.
- Switching to a different financial institution.
- Simplifying personal finances.
If your Chase account no longer meets your needs, closing it is relatively simple — as long as you prepare properly. Doing it correctly helps you avoid unexpected fees, missed payments, or unwanted credit score impact. Before closing your account, make sure you:
- Transfer or withdraw all remaining funds.
- Update direct deposits.
- Cancel automatic payments.
- Check for pending transactions.
- Review whether any Chase bank account closing fees apply.
Methods to Close Your Chase Account
Can you close a Chase bank account online? Or should you visit the bank branch? All in all, closing a Chase account won’t be difficult. Fortunately, Chase Bank offers several options for your convenience.
Close Your Chase Account Online
While there isn’t a one-click option to close a Chase checking account, you can still complete the process remotely. So, how to close a Chase account online? To do so, log in to your online banking profile, navigate to the Secure Message Center, and send a message requesting account closure.
Sample Message to Close Your Account Online
Consider sending the message only after preparing for the closure by bringing the balance to $0 and clearing all pending transactions. Below is a simple and direct message sample you can use for closing a Chase savings account online.
Subject: Account Closure Request
Dear Sir or Madam,
I would like to request the closure of my Chase checking/savings account ending in [XXXX]. The current balance is $0.00, and there are no pending transactions.
Please provide written confirmation once the closure has been completed, and let me know if any additional steps are required on my end.
Thank you for your assistance.
Best regards,
[Your Full Name]
Close Your Chase Account by Phone
Another way to close a Chase savings or checking account is to call customer service at 1-877-469-0110 (within the US) or 1-318-340-3308 (internationally). Inform the representative of your intention to close the account. A banker will guide you through the process and may request additional verification for security purposes, such as:
- Your account number.
- Personal identification (e.g., driver’s license or passport).
- Any remaining checks linked to the account.
- Debit or credit cards associated with the account.
You may also want to review services like Chase Credit Journey before finalizing your decision.
Close Your Chase Account In Person
Visit a nearby Chase branch to speak directly with a bank representative and initiate the account closure. They will provide the necessary forms, clarify any applicable Chase savings account fees, and assist you in completing the process efficiently.
Close Your Chase Account by Mail
Although this method is less convenient, it is still available. You can close your account by mailing a written request asking to cancel your Chase account. Be sure to include your personal details and signature.
Send your request to:
National Bank By Mail
P.O. Box 36520
Louisville, KY 40233-6520
After the closure is complete, follow up with a Chase representative to ensure that your account has been officially closed. Request written confirmation for your records if needed.
Sample Letter to Close Your Account by Mail
Your Name
Your Address
City, State, ZIP Code
Date
Subject: Request to Close My Account
To Whom It May Concern,
I am writing to formally request the closure of my [account type] in the JPMorgan Chase Bank. The account details are as follows:
Account number:
Account holder name:
The current balance is $0.00, and all outstanding transactions have been cleared.
Kindly confirm in writing once the account has been successfully closed. If any additional information or documentation is required to process this request, kindly contact me at the phone number or email address associated with my account.
Thank you for your prompt assistance.
Sincerely,
[Your Signature]
[Printed Full Name]
[Phone Number]
Preparing to Close Your Chase Account
Before you ask how to close a Chase account, make sure you’re properly prepared. A crucial step is opening a new account at another financial institution to transfer your funds (unless you already have one). Alternatively, you can withdraw your remaining balance in cash.
Transfer Funds Online
To transfer your money online, log in to your Chase account through the mobile app or website. The good news is that Chase does not charge fees for standard outgoing transfers. However, Chase international wire transfer fees differ from regular transfers. Keep in mind that the receiving bank or institution may charge its own fees. Processing times for transfers typically take up to three business days.
You may also want to read our article on how to avoid the Chase monthly fee.
Send Money via Wire Transfer
Wire transfers offer a fast way to send larger amounts domestically or internationally. The amount you can transfer depends on both your available balance and your bank’s transfer limits. After enrolling in wire transfers, you will see your daily transfer limit, and only then will you be asked to add a recipient.
Domestic transfers are typically credited the same day, while international wires may take several business days and require additional identity verification. Be aware that international transfers usually carry higher processing fees.
Withdraw Cash From Your Account
If your remaining balance is relatively low, you can withdraw cash at an ATM or a local branch. Chase incurs a $3 fee per withdrawal at a non-Chase ATM in the US, Puerto Rico, and the US Virgin Islands, and $5 per withdrawal outside these areas.
Manage Automatic Payments and Deposits
When you are wondering how to close a Chase checking or savings account, don’t forget to update or cancel any automatic payments and deposits linked to it, including:
- Utility bills.
- Loan or mortgage payments.
- Credit card payments.
- Subscriptions or recurring services.
- Salary or wage deposits.
- Investment dividends.
- Automated transfers.
- Government payments and benefits.
- Contributions to retirement or investment accounts.
Log in to your Chase online account and navigate to the automatic payments section. From there, you can cancel, edit, update, or transfer these transactions. You can also contact Chase customer service or visit a branch for assistance. Be sure to always confirm changes with both Chase and the receiving institution or biller to confirm that the changes have taken effect and avoid missed payments.
How Closing a Chase Account Can Affect Your Credit Score
When considering how to close a Chase account, it’s important to understand the potential impact on your credit score.
Closing a Chase checking or savings account typically has no impact on your credit score, provided the account is closed with a $0 balance and no unpaid fees or overdraft. These accounts are not reported to the major credit bureaus and do not affect credit score calculations.
Closing a Chase credit card is different. Credit utilization and account age both influence your credit profile. Closing a credit card can lower your score by reducing your available credit, which may increase your utilization ratio. The impact on credit age may be delayed, as closed accounts in good standing can remain on your credit report for up to 10 years.
If you have already in Chase bank open account, then it will not be difficult for you to close it as well.
