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As important as bank accounts are in this day and age, the truth is that not every single one that’s ever been opened has lasted. This is often due to how dissatisfied customers have been with their originator’s services, the conditions that need to be met or other elements like switching the banks due to the better services.
In any case, banks have never been immune to this issue and won’t be any time soon. Because of this, it would be useful to know how to close a Chase account according to Rates. So let’s go through exactly that procedure. What you’ll discover is that there isn’t only one path of going about things, nor is there one situation in which this occurs.
Prepping for the close
Before you take the plunge and have the account meet its end, you’ll have to make adequate preparations for it. While it may sound confusing, knowing how to close the Chase account you once held requires knowledge of how it was created in the first place.
This is key because accounts will still be needed, to move your current funds to if you have them. Assuming that you do and that a better alternative has been found, the following is a reminder of how to get a new account:
- Have the right documentation, which includes IDs such as driver’s licenses, social security numbers, passports and green cards
- Possess documents that may also be evidence of residence in the nation
- Look the bank you’re moving to up and see if customer service is helpful
- Also, find the account that meets your standards by looking at minimum deposits, withdrawals and maintenance charges, interest rates for saving accounts
- Once the requirements have been met, apply for it, by filling out forms given to you either in person or online if possible
- Once your application is accepted and your account opened, you can begin using it, which in this case, entails moving funds from the place you’re about to exit
Exploring options similar to the bank
Chase is being the biggest at the moment, market cap-wise. In the US alone, there are over 4,000 banks you could choose. The ones closest in size to Chase are great places to start, so it’s more than worth it to go through their offerings to find a suitable spot and the right account. If they’re found, numerous paths can be taken to have the money sent there, and these include:
- Manual withdrawals at branches or ATMs (up to $3.000 per day at branches and to $1.000 at ATMs)
- Wire transfers
- Online transfers
How it’s done
If you have an alternative waiting for you, a question like “how to close a Chase account?” can finally be answered. Before getting into how to go about it, you have to ensure that your account has a positive balance you can empty or is at zero. Failure to do this will result in a negative balance and ending a partnership with any entity of Chase’s sort in this state is likely to affect your credit score poorly.
As you do this, it’s also wise to ensure other elements regarding your soon-to-be former account’s activity. This refers particularly to automatic payments you may be making through it. This may include utilities, as well as subscriptions to certain sites that will need to be canceled before you move on.
Once that’s done, the process officially begins in conjunction with the bank you’re trying to leave, which in this case, is Chase. For their part, this brand allows you to go about account closing in a few ways, such as:
Via the net
This is the easiest path to having an account closed. Assuming that you had a positive balance and your holdings have been emptied and moved elsewhere, you can then go online, open your account and tap the three vertical dots. The option to close the account will appear and after it is tapped, you can proceed with the steps that follow.
Via brick and mortar visitation
If the above path, for whatever reason, proves a little confusing or unsavory, you could always visit the nearest physical Chase branch. There, you can get the account closed by having the aid of someone there.
To ensure this is done, a form will be provided to you and in it, the necessary information has to be entered, mainly including elements such as IDs for verification. This path is great if you’re unsure of anything, as it gives you as direct access to a pro as possible.
Via call
Another way of gaining access to Chase’s professional representatives to help with this, or better still, achieve this remotely is by contacting them by phone. All you’d have to do is call their customer care and proceed with the necessary instructions before you eventually reach a rep.
Once you’re in contact, simply inform said rep of your desire to close the account. To do this effectively it’s important to have your account and ID-related details on hand, as they too will be needed here for verification.
Via post
The final way you could go about this process is by having the very details you’d send on the call as well as your intentions be sent in a signed recommendation via the mail, although it’s not particularly convenient. It’s going to be sent to the National Bank By Mail, P.O. Box 36520, Louisville, KY 40333-6520. Once that’s done, you’ll have to check in to ensure that the account is closed.
Final thoughts
Having accounts closed, as the above has shown, is pretty run-of-the-mill stuff that banks do all the time and expect from their customers, with even Chase not being immune. Because of this, the above information, which shows you how to close a Chase account will come in handy if ever you become dissatisfied with whatever account you currently possess. The only thing that is advisable in any case is that you be ready for that day.
This means having a positive balance, moving your funds and having the information necessary for closure be available. If this is indeed the case, no problems should exist.
