If you want to close chase account, you have to be conscious and consider some things before closing your account. Chase bank is one of the USA’s renowned banks; however, customers are deciding to close their chase bank account due to its costly policies and charges. To close an account, the first thing you must have is a valid Chase account.
You need to fill out closure forms and submit a few documents for the closure of the bank account. You can’t reopen if you have Chase Close account. You must need to think precisely and then make a decision. If you are confused about how to close chase bank account, read this article, and you will find everything you should know.
Why Should I Close Chase Checking Account?
You must maintain a minimum balance if you have a saving or checking account in Chase Bank. If you couldn’t keep the minimum balance or meet other requirements, you must pay the charge for that month. There are various types of accounts in the bank.
If you have Premier savings, Premier Plus Checking, and Sapphire Checking account, you have to pay $25 per month if you fail to maintain a minimum balance or couldn’t satisfy requirements.
For other account types, including Chase Savings, you have to pay $5 per month, and for Chase Total Checking account, the customer has to pay $12 per month as a charge. It means that if you tend to keep a small balance every month, you will be paying approximately $300 per year, which is a significant sum of money, and after two years, it doubles.
That is why people are finding an alternative for Chase bank. Many banks are in the market that doesn’t have minimum balance criteria. So, in such a bank, you don’t have to maintain a minimum balance.
A high minimum balance charge fee is the biggest reason for closing the chase account. Other valid reasons also support this argument. It includes poor customer services, unsupportive staff, and inappropriate behavior with customers. Also, the number of local banks and ATMs is less compared to other banks.
Mobile or internet banking services are mostly out of use, and it is tough to manage multiple bank accounts in Chase. When you decide to close chase account, you need to consider a few things before that. These things may be sound ordinary, but it is essential to follow them.
Types Of Chase Checking Account
There are four types of checking accounts in chase bank. The charges and offered services are different for all of them.
- Chase total checking:
This checking account provides access to deposit-friendly ATMs, debit cards, and 24/7 customer service. If you meet the service requirements, you don’t have to pay a monthly service charge. You need to pay $25 as an account opening deposit.
- Chase Premier Plus Checking:
This Chase Premier Plus Checking account offers all benefits of Chase’s total account. You need to pay $25 as an account opening deposit.
- Chase Premier Platinum Checking:
It is an interest-bearing account the provide priority service to customer. Customers have to pay some charges if they fail to maintain the minimum balance.
- Chase Student Checking:
It is a checking account that suits students’ requirements. A $25 deposit is essential. High school students from the age of 13 to 17 are eligible for this account.
Things To Consider Before Chase Close Account
You have to consider some things before and while closing chase checking account. The first thing you have to do is decide why you want to close the chase account. When you find the reason, you should see the bank that resolves your problem.
For example, if you are closing a chase bank account due to minimum balance criteria, you should find a bank that doesn’t have such a requirement and also has small service charges on the account. You should also find out the documentation requirements of that different financial institution.
You should make sure that you close your old bank account, they are not linked to it, and if you don’t know about the account closure charge, you can leave $100 in the old account. It will help you to deal with unexpected charges. Read these essential things that you should consider before closing the chase account.
- It would be best if you had to find a new bank before closing your chase bank account. You cannot live without a bank account, even for a single day. So, first, find a new financial institution and then close the old account.
- Get your most recent monthly account statement to know about any recurring bills or charges like energy bills, hydro bills, or rental bills. You should make sure that you have paid these bills and add these bills to your new account.
- Make sure you unlink all of the subscription plans like Netflix, Apple Music, Amazon Prime, or Spotify or transfer them to your new checking or saving account. Otherwise, you may lose your subscription plan due to a lack of funds in the old account.
- It would help if you thought about any half-year or annual plan that doesn’t include the monthly account statements. For this, you can check the account transaction from the mobile app. You can also transfer these annual or semi-annual charges to your new account.
- If you have a salary account in the chase and want to close chase bank account, provide a new bank account details to your employer. It will save you from a lot of paperwork of transferring credited money in the closed account.
- If you have any recurring charges or overdue bills left from the bank, resolve it. It is crucial for your credit score.
Make sure you keep the print out of the last three-month account statement with yourself for future reference.
How To Close Chase Account?
Now, if you have decided to close your chase account, there are a few options available for you. You can select any of the mas at your convenience.
- Close Chase bank account via call and message:
When you have cleared all charges from the bank and ready to close the chase bank account, you can do this via mobile call and message. Chase bank allows its customers to close their checking or saving account via call. It is the fastest way of closing a chase bank account. You need to call on 24/7 customer service number 1800 935 9935.The customer support representative will help to close your account. This representative will also provide you information about the charges and overdue. Before closing this, you have to provide your name, account number, birth date, and address to prove your identity.There are different contact numbers for closing a Chase personal credit card and business credit card. For this, you should call on 1800 432 3117 and 1800 269 8690, respectively.
- Close Chase account via mail:
If you believe in conventional modes, Chase bank allows customers to close their accounts via mail. For this, you need to download the account closure form and fill it by pen, and signed it. You need to enter your account information in this account closure form. So, check twice before mailing this form.When you sign this form, mail this to National Bank by Mail, P O Box 36520, Louisville, KY 40233-6520. When the bank receives this mail, the courier company will send you a notification. Bank will start be processing your account closure request when they receive your closure form.
- Close a Chase account at a branch:
If you have time to visit the bank, you should consider this option for closing your chase bank account. It is the most effective way because you will get personal and in-person guidance for the closing process, and also staff will provide accurate information.If you have any conflict overcharges, you must go to the bank in-person to close your chase account. You should take your ID and checkbook with yourself. A bank employee will ask you about your t personal details like address, SSN, birthday, Pin, or relevant information.You can search on google maps to locate the nearest Chase bank branch. For this, you need to type chase bank near me in google, and you will get direction. Some branches are also open on Sundays and close on Thursday. So, you should also check the working hours and working days for Branch.
- Close Chase account Online:
The banks are closed in the current situation, and even courier services are also not working or working very slow. Close Chase account Online will be the best option in such a situation. For this purpose, you can use the mobile application or official website of Chase bank.It is effortless to close your chase account online. You are so many YouTube videos and articles are on the same topic. For this, you must have an android or iOS mobile with a stable internet connection. You need to open chase.com in the Google Chrome browser and log in to your account by typing your Username and Password.Now you have to send a mail to the customer service department from the Secure Message Center. You should request them about the closure of your bank account. The responsible banker will reply to your email with the required documents and confirm your closure request.
Will My Credit Score Be Affected If I Close Chase Bank Account?
No, your credit score will not be affected if you close the chase bank account. Credit Bureaus don’t regularly monitor your bank details; they are looking for the transaction you perform. So, if you have overdue charges or conflict charges left in the account, this can affect your credit score.
If you have cleared your account, then this will not affect the credit score. That is why it is imperative to pay the charges and clear your bank account before closure.
So, now you know how to close a chase account. One of the requirements for closing a bank account is that you must have a bank account. If you want to open a Chase Checking account, read further to know.
How To Open A Chase Checking Account?
Yes, we are talking about how to close chase account, but this section will help you if you are thinking of reopening it. When you decide to open a Chase checking account, you should find information about the charges and minimum balance requirements. To open a bank account, you must require some documents. It is not a time-consuming process if you have proper documents with you.
There are the steps that you should follow while opening a new Chase checking account.
- Gather the required documents and information:
- Social Security Number
- Driver’s license or state-issued ID (If you are immigrant passport is required)
- The contact information like Name, permanent address, Email Id, Mobile number
- Money for the deposit amount
- Fill the Online Application form:
You should open the web browser and visit Chase bank’s official website, then find the Open bank account online option and enter your AIP code. It will indicate the nearest chase bank branch/ So, download the application form and fill it with your personal information.
The coupon code will give you some discounts on the deposit amount; if you have any, you can use them. In this Online application form, you need to answer some questions about your nationality and citizenship. You need to enter private details like birthdate, Social Security Number, permanent address, mobile number, and many more.You have to enter details about your employment status, incomes, liabilities, and assets. Now you can see a few Chase checking account plans; you can select any of them as per your requirement. The charges and minimum balance criteria are different for these accounts.
Lastly, verify your information and select the appropriate checking account t. You can also choose to transfer the deposit online from another bank account. Click on Confirm to submit a closure application to the bank.
- Visit the nearest branch to apply for a Checking account:
If you don’t have access to a computer or internet, you can choose to visit the nearest Chase bank branch to open your checking account. You need to carry the documents as mentioned above you provide some personal information to confirm your identity. You should also bring the cash deposit for the new checking account.
- Contact Chase Customer Service for Guidance:
If you feel that you are stuck somewhere or confused about some details, you can ask for help from customer service. Chase Bank offers 24/7 customer service, where the customer support representative will assist you and guide you in the process. You can call on 877 242 7372 to contact customer service, or you can read the FAQs from the official website.
Frequently Asked Questions
Is there a fee for closing a Chase bank account?
Each & every bank account costs a little amount of money to keep your account active for transactions however closing the account is free of charge.
Can I close a checking account online?
It relies on the bank. Many banks allow their customer to close accounts virtually whereas some ask customers to present physically to close bank accounts.
How long does it take to close a Chase checking account?
It will take two business days to close your Chase checking account.
Hopefully, from this article, you know how to close chase account. Chase offers various modes like mail, online, or in-person closure request to the bank. You can try any of the ways to submit your chase account closure request. Comment below if you have any questions.