So, you’ve decided to close your Chase checking account.
Maybe you’ve realized that their promise of a “free” checking account is bait for the hidden fees they charge you.
You may have grown frustrated with the high minimum balance requirements, the unnecessary monthly service fees, the outrageous wire transfer fees, and overdraft penalties.
A lot of customers loathe the minuscule interest rates that hover around the 0.01% mark.
Or maybe, you just found a bank that caters to your unique needs better.
Regardless of why you want to close Chase checking account, though, I’m happy to report that closing it is very easy.
There are four ways of doing it, and I will guide you through all four in this post.
How to Close Chase Checking Account
Regardless of which checking account you have:
- The “Chase Total Checking” account for which you must pay $12/month,
- The “Sapphire Checking” for which Chase charges $25/month, or
- The “Premier Plus Checking” account, which also has a $25/month fee,
You can close it down permanently within three business days (typically).
You can use any of the following four methods you find most comfortable to close your Chase checking account:
At A Branch
Closing your account in person by visiting a Chase branch is the fastest way to get it done.
You don’t need to hunt for your closest Chase branch on the internet – their official website supplies a tool for finding a branch close by.
All you have to do is click on the “Find a Branch or ATM” link that appears on the top of the official Chase website. When you click the link, a pop-up search box appears, where you can enter the address, zip code, city, or state to find branches.
Post entering your parameters hit the “Search” button or use the “Advanced Search” option to filter branches using parameters like “Open On Sundays.”
Visit the branch that you find most convenient to visit, and ask to speak to an account executive.
Make sure you’re carrying a valid I.D., your social security number, a proof of address, and other critical documents.
The executive will guide you through the steps, and you will be able to complete all the formalities in minutes.
Using The Website
It isn’t the fastest way of closing a Chase checking account, but it sure is the easiest way.
To close Chase checking account via the website, you must first log into the official Chase banking site using your correct username and password.
Next, you must navigate to the Secure Message Center.
From this section of the website, you must email the Chase customer service department requesting account closure.
You will receive a response in typically two business days, asking you to confirm if you want to close your Chase checking account. You will also be asked for some follow-up details and account closing information.
After you confirm your request, a banker will close your account and send you a confirmation email.
This is the third-best way of closing a Chase checking account, but it’s an excellent option if you don’t have access to a local branch or are having trouble using the online portal.
Call the official Chase customer support line at 1-800-935-9935, and press 0 to connect to a customer service representative immediately. Tell them you want to close your checking account.
You will then be asked to verify your identity by entering details like the last four digits of your social security number and also your birth date.
After your details are verified, the representative will help you close the account.
Chase has representatives available to help 24 hours a day, seven days a week, so you can make the call to close Chase checking account at any time.
You can also submit an account closure request by writing to:
National Bank By Mail
P.O. Box 36520
Louisville, KY 40233-6520.
If you require rush delivery, you can mail your request to:
National Bank By Mail
Mail Code KY1-0900 416 West Jefferson, Floor L1
Louisville, KY, 40202-3202.
Make sure you include your name, account number, phone number, and the address to where the remaining balance must be mailed.
What Happens After Your Chase Checking Account Is Closed
After your account is closed, the remainder of the funds in the checking account will be mailed to your registered/requested address.
Alternatively, you can make a request to transfer the funds to another Chase account.
If you don’t receive your check in two weeks, contact Chase customer service.
Things To Remember Before Closing Your Chase Account
- Chase will charge you a $25 fee if you close your checking account within 90 days of becoming a customer.
- Your account will reopen if you don’t carefully reset any recurring payments to another account. Account reopening entails penalties, so ensure that you’ve reset your automatic transactions – including annual subscriptions – to another bank account.
Also, remember to transfer bills of essentials like water, gas, electricity, and water bills to another account.
- If your salary is deposited in your Chase checking account, speak to your employer and transfer it to a new bank account at least a full week you expect to be paid.
- Check if you haven’t paid any overdue bank fees. This affects your credit score, as I explain in the next section.
Does Closing A Chase Checking Account Affect Credit Score?
No, your credit score will remain unchanged.
However, if you have a negative overdraft balance on the account, your credit score will be affected.
Chase will pass the details of the amount that’s due to collection agencies. The collection agencies then report to credit bureaus, reducing your credit score.
So, make sure that you clear all dues before you close your Chase checking account.
Closing your Chase checking account is a lot easier than you’d think.
Pick any of the four methods outlined in this post, and you’ll have closed your account within three business days!