Closing a Chase savings account is a simple process if you do the prep work first. The actual closure takes about five minutes through the Chase Mobile app, in person at a branch, or over the phone. The reason most people get tripped up is what happens BEFORE the closure: undelivered direct deposits, autopay deductions, pending interest, and outstanding fees can all cause headaches if you do not handle them in advance. This guide walks through the closing process step by step, the prep work that prevents problems, and the common mistakes to avoid.
Step 1: Prepare to close (do this first)
Before initiating closure, check three things:
- Move the money. Transfer the full balance to another account. Chase will not close an account with funds in it without first refunding to you, and the refund check can take 5–10 business days to arrive. Initiating an external bank transfer first is faster.
- Stop any incoming deposits. If you have direct deposit, recurring transfers from another account, or interest payments routed to this savings, redirect them to your new account. Direct deposit changes can take 1–2 pay cycles to take effect, so handle this 30 days in advance if possible.
- Cancel any outgoing transfers. Recurring transfers TO this account from your Chase checking, automatic CD funding, etc. — cancel them in the Chase Mobile app under Recurring Transfers.
- Confirm there are no pending fees. Check the most recent statement for monthly service fees that may post on the next cycle. Chase typically waives the savings monthly fee with $300 minimum balance or with a linked Chase checking, but if you do not qualify and the fee is about to post, factor that into your timing.
Step 2: Close through one of three methods
A. Chase Mobile app (fastest)
- Open the app and sign in.
- Tap the savings account.
- Tap the menu (three dots) and select "Close Account" — not all account types show this option in-app; if not visible, use the website or branch.
- Confirm the remaining balance handling (transfer to another Chase account or mail a check).
- Confirm the closure.
B. chase.com website
Similar to the app. Sign in, navigate to the savings account, and look for an "Account Services" or "Close Account" option. If the option is not present (sometimes the case for older account types), use the secure message portal to request closure with a customer service rep.
C. In-person at a Chase branch
Visit any Chase branch with your government ID. The banker can close the account on the spot, transfer the balance to another account or issue a cashier's check, and provide a confirmation receipt. The branch method is the most reliable for unusual situations (joint account holders, accounts with recurring legal holds, etc.).
D. By phone
Call 1-800-935-9935 and request closure with an agent. The agent verifies your identity, walks through balance handling, and processes the closure. The call typically takes 10–15 minutes.
Step 3: Verify the account is fully closed
A few days after closure, log in to chase.com or the app and confirm the savings account no longer appears. If it still shows, contact customer service to ensure the closure went through. Chase will mail or email a closure confirmation letter within 7–10 business days.
Watch for these signs of incomplete closure:
- Statements continuing to arrive at your address.
- Pending interest credits posting after you thought it was closed.
- Any debit posting to the closed account (this could indicate a recurring transfer that was not properly canceled).
If any of these happen, call Chase customer service immediately to resolve.
Common mistakes to avoid
Four pitfalls that turn a 5-minute closure into a multi-week problem:
Closing before redirecting direct deposit. Your employer's payroll system may take a full pay cycle to update. If your direct deposit lands in a closed account, the funds get returned to your employer, who has to re-issue payment, sometimes by paper check. Update direct deposit at least 14 days before closure.
Closing with an outstanding fee about to post. Chase will charge the fee against your closing balance and may issue you a smaller refund check. Wait for the next statement cycle to confirm no fee is pending.
Forgetting linked accounts. If your Chase savings was linked as overdraft protection on your Chase checking, closing it removes that backup. Either re-link a different account or accept the new overdraft exposure on your checking.
Not collecting your tax form. Even if your savings earned only a few dollars in interest, Chase will issue a 1099-INT for the year. Update your address with Chase before closing if you are moving, so the form reaches you next January.
What to expect after closure
Within 30 days of closure, expect:
- A closure confirmation letter (paper or email).
- Final statement showing zero balance and the closure entry.
- Any final interest credit issued by check or transferred per your instructions.
- The 1099-INT for the year, mailed in late January.
The closed account will no longer appear in your Chase Mobile app dashboard. The history is retained internally and you can request a copy of past statements for up to 7 years through customer service.
Where to put the money instead
If you closed the Chase savings because the APY was too low, an online or neobank savings often pays meaningfully more. Current pays up to 4.00% APY on direct-deposit balances, and other online banks publish APYs in the 4–5% range. The math difference on a $20,000 balance over a year is hundreds of dollars in interest the legacy savings was not paying you.
Current Banking
Current Banking
Current is a mobile-first banking app with no monthly fee and no minimum balance. Members can earn up to 4.00% APY with a qualifying direct deposit of $200, receive direct-deposit paychecks up to 2 days early, and overdraft up to $200 fee-free.
Standout feature
4.00% APY on Savings Pods (with a $200+ qualifying direct deposit) plus paycheck up to 2 days early — both included on the standard account for free
Fees
Free
Pros
$0 monthly fee; up to 4.00% APY on Savings Pods with qualifying direct deposit; paycheck up to 2 days early;
Cons
No physical branches
Frequently Asked Questions
Does closing a Chase savings account hurt my credit?
No. Savings accounts are not credit accounts and are not reported to the major credit bureaus (Experian, Equifax, TransUnion). Closing a savings account has no direct effect on your FICO or VantageScore. The same is true of closing a checking account.
Is there a fee to close a Chase savings account?
Chase does not charge a closing fee on most savings accounts in 2026. There is, however, a $25 "early account closing fee" if you close certain accounts within 90 days of opening — this rule originally applied broadly but has been narrowed in recent years. Check your specific account terms for the rule that applies.
How long does it take to close a Chase savings account?
The actual closure happens immediately when you confirm through the app, website, branch, or phone. The full process — including final interest, refund of remaining balance, and closure confirmation — takes 7–30 days. Plan for at least a 30-day timeline if you have direct deposit or recurring transfers to redirect.
Can I close a Chase savings account online?
Yes, through the Chase Mobile app or chase.com if your account type supports the in-product closure option. Some older or less common account types require closing in person at a branch or by phone. If the in-app option is not visible, contact customer service through the secure message portal or call.
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