How to Close A Bank Account:  The Easy Steps You Can Take

If you need to get rid of a particular bank, then it’s important you take the time to move your money as soon as possible and close the account.

Why You Might Want to Close A Bank Account

Being overcharged

Bad customer service

Low tech

No availability

What To Do Before Closing Your Bank Account

Get organized

Besides working on your mindset with finances, being organized is one of the most critical aspects to any financial success. It helps you stay on top of items and inform you about your various accounts and current state of finances. 

What To Do Before Closing Your Bank Account

Read your bank’s closing terms

What you want to look for is the terms about closing an account with them. Read the fine print and their rules when it comes to closing your bank account. You don’t want to assume anything when you go to close a bank account or be surprised by any fees.

How Do I Close A Bank Account?

1. Open a new account

Do a little bit of research and then settle on one specific bank account. Check whether your new bank account has a “switch kit,” which is a checklist along with certain forms to help you complete the switch from your old account.

How Do I Close A Bank Account?

2. Update recurring payments

Get a list of all your payments including bills, transfers and debt payments, then start cancelling them from your previous account so you can then set them up with your new one.

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