Close a savings account

It only takes a few steps to close an account

Make sure your new account is open.

Transfer your balance from the old account to your new one.

  • Print an e-statement from the old account and bring it to your new bank.
  • The banker will fill out a transfer authorization and send it to your old bank -closing the old account in the process.
  • Your old bank may charge a fee to close the account (sometimes over $100), so you should always ask your new bank to cover it – it's worth a shot, they are getting a new client after all.

Don’t open accounts and forget about them. Some banks charge fees for unused accounts.