Closing out your Chase bank account may be an excellent decision for you. If you’re considering this and looking for a better option, you should be able to find one quickly. Have you taken the decision? In this guide, we’ll show you how to close out a Chase bank account. Come along!
Before you close Your Chase Account: A Useful Checklist
The procedure for closing out a Chase bank account is straightforward. However, there is a checklist of items you should complete first. This includes the following:
Create a new account to use as a backup.
Before closing a Chase bank account, make sure you have another one established so you may transfer your funds. Also, before starting the closure procedure, see if you need to register a new account outside of Chase. It’s a good idea to set up a backup plan.
Prepare your account
Once you’re prepared to end a Chase checking account, you could have a deficit. Make sure your profile is empty prior to actually closing it. By utilizing an ATM, making payments from yourself and presenting them to your financial institution (or another check-cashing institution), or making payments to individuals who can withdraw them for you, you may close your account.
You can as well send cash online from your Chase bank account to another bank. This might take a couple of days, so don’t leave it until the last minute.
You might well be obligated to pay any monthly fees given to your account following the date you terminate your account. As a reason, it’s best to contact Chase and chat with an attendant whenever you zero off your debt.
Examine your automatic payments
Also, examine if you have any regular invoicing that is debited from your checking fund set up. This includes debit cards, bills, auto loans, mortgages, contracts, and other services that are drafted from your checking account. Examine your bank account statements for the last 12 months to make sure you don’t overlook any yearly direct debits.
Don’t fail to tell anybody who has compensated you by bank transfer into your bank account (or is planning to pay you). Examining your bank records from the prior twelve months can help you remember who could attempt to repay you by direct payment into this checking account in the future.
Pay off any outstanding debts and fees.
Suppose your account has a debit balance or outstanding or unpaid bank charges. In that case, you should pay them off before terminating them, as outstanding amounts can negatively impact your credit score with a credit reporting agency.
How to Close Out a Chase Bank Account
Closing a Chase bank account may be a good option for you. Currently, these are your options available to close out a Chase account:
Make a phone call to start the process.
Calling Chase and having a customer service agent close your account may be the quickest option to close the account. For the customer care person, have the following information ready:
- Your complete name
- Savings account details
- Your postal address
- Number to call
- Number of your debit card
Call 800-242-7338 for more information. Follow the steps, which may include entering your account’s last four digits as well as your zip code. You may be required to give additional information while speaking with a customer support person. Request that your account be closed and follow the person’s instructions.
Pay a visit to a Chase Bank.
Whether you reside close to a Chase bank, call ahead to check if you really need to schedule a meeting to close your account or if you would do it on the spot. Find out when and where account reps are most probably to be accessible.
To speak with a professional advisor at the bank, make a request. You ought to have your picture ID, bank account information, one duplicate of your checking payment details, checkbook, and direct debit on hand.
You won’t need all of them to close your account, however, the more you possess, the less probable you are to forget anything the bank needs. Your checks, balances, or bank card may not be required, but you’ll need your account information.
When you close your account, your bank representative might propose to destroy your checkbook or debit card. Prepare for a sales pitch before the closure cycle begins. When customers request that their accounts be closed, the bank agent may be obliged to accept a routine. They can offer to cover your fees or give you additional perks if you remain with Chase.
Go to Chase’s website.
Go over to the Chase website and sign in to your accounts if you’ve not already. Then, if you’ve not already, make an account. You’ll require your username, account number, payment information, contact information, SSN, and billing address.
In the search tool, type the words “quit” or “close” or a statement like “close my account.” After that, you’ll be asked to arrange a teleconference with Chase, which could require 2 days. Go over to the Secure Message Center website to get acquainted. This system will redirect you to the scheduling page immediately.
Cancellation through mail
Visit the Chase website to get the most up-to-date mailing address for canceling your account in writing. Their customer service address as of July 2021 was:
- By Mail from the National Bank
- 6185 PO Box
- 43086 Westerville, Ohio
- Use the following to send an express certified letter:
- By Mail from the National Bank
- OH1-0333 is the postal code.
- 340 Cleveland Ave. S.
- Building 370 is a multi-story structure with a
- 43081 Westerville, Ohio
- United States of America
Frequently Asked Questions
Is it necessary for me to close my account at a Chase bank branch?
Yes. The traditional method of closing a Chase account is to go to the nearest Chase bank location. However, you will be required to present proof of identity when speaking with the bank teller, so make sure you have your ID, security number, PIN, address information, and so on.
Is there a cost associated with canceling a Chase bank account?
No. There is no charge to shut your Chase bank account but make sure it isn’t overspent, and the amount is zero.
Does the decision to close out a Chase bank account influence anything?
Yes. Closing a Chase bank account can save you money on annual fees and lowers your risk of fraud. Closing the wrong accounts, on the other hand, may hurt your credit score. So before you close accounts to enhance your credit score, check your credit reports online to see the status of your accounts.
Is it possible to terminate my Chase account if I have a negative balance?
No. Banks normally do not close accounts with a negative balance, even if you request the account be closed. At the same time, it is in an unfavorable condition. Therefore, the bank is unlikely to comply.
Is it possible for Chase to reactivate a closed account?
Yes. Chase is one of the few account providers that will enable account owners to restore previously canceled accounts. You can reactivate it within 30 days of being closed, according to the normal regulation. To begin, call the customer support line and tell them you wish to reactivate your previous account.
What is the time frame for closing a Chase bank account?
After calling the bank, you can terminate your Chase account within 24 hours. Make sure you possess all of your account information on hand. Tell the bank teller or representative that you want to close your account when they pick up the phone.
They will ask you questions about yourself and your profile, and if the information you provide is correct, they will cancel your membership.
What are the signs that my chase bank account has been shut?
It’s not true that just because you think you’ve terminated your Chase bank account, it has. If an error makes the profile remain open, your identity could be at risk of being hacked if it is left open for years.
Calling your bank to see if your account has been terminated is the quickest way to find out. You’ll need to submit personal information such as your name, location, phone number, SSN, PIN, account number, and secret questions (like your mother’s forename).
If it’s after hours, try logging in to your account using your laptop or smartphone and banking app if you have an online account set up. In case, your user ID and password no longer function, your account has likely been closed.
If you want to be certain, call the bank when they resume. You should receive an email confirming the termination of your Chase account if you follow the necessary procedures to do so.
In conclusion, Chase bank accounts come with various merits. But if you desire to opt out due to diverse reasons, the tips on closing out a Chase bank account above will aid you immensely.
I am Lavinia by name and a financial expert with a degree in finance from the University of Chicago. In my blog, I help people to educate by making wise choices regarding personal investment, basic banking, credit and debit card, business education, real estate, insurance, expenditures, etc.