List account name and account number for each closing request.Please close the following bank account(s): To do so, you can use the template below or a similar format. You can write a letter to your bank to close an account. If Required, Send a Letter to Close Your Bank Account If there are any remaining funds in the account, you should be able to request a transfer to your new account or receive a check by mail. The bank will check your account to ensure it’s in good standing and that you’ve resolved any outstanding issues before it marks the account as closed. Follow your bank’s guidance on the proper contact method to start the closure process. Some banks and credit unions may require you to fill out an account closure request form or submit a written request. Many financial institutions allow you to do this online, but it could require a phone call to customer service or a visit to a local bank branch. Contact Your BankĬancel your bank account. If your bank account has a minimum balance requirement, only transfer money out of the account when you’re ready to close it so that you’re not charged a monthly maintenance fee. If you still have money in the account after everything clears, withdraw the money or transfer it to your new account. Failure to do so could result in having to pay overdraft fees. Transfer Your Moneyīefore you move money out of your account, let outstanding transactions clear. Having a list helps ensure you’ve canceled all of the payments attached to your old account, but you’ll also be prepared when you need to set them up for your new bank account. Check with your employer regarding any forms you need to fill out for direct deposit so your paycheck can be rerouted to the new account.ĭo yourself a favor and make a list of your monthly recurring payments. If you have any direct deposits or automatic payments set up, move them to the new account. Switch Your Existing Scheduled Payments and Deposits Whether you decide on a traditional brick-and-mortar bank or an online bank, ensure you’ve established your new account before moving forward. Many factors go into choosing a new bank, including savings rates, fees and account offerings. Having an account in place ensures you have a place to transfer direct deposits and payments or debits. The first thing you need to do is open a new bank account. Be sure to check your banking institution for special requirements. The specifics for closing an account vary by bank and credit union. You’ll want to do some advance work to ensure a successful transition. How to Close a Bank AccountĬlosing a bank account involves more than contacting your bank. Whatever the reason, consider the decision carefully to ensure you’re making the right moves for your financial situation. You’re switching from a child account to an adult account.You’re consolidating your bank accounts.You can get better features and services elsewhere.You want to escape poor customer service.Here are some of the more common reasons to move on from your current account: However, there are numerous reasons you might want to. After you successfully login to the app, your accounts and transactions will begin updating.You don’t need a reason to close a bank account. If you currently use our Internet Banking, simply download the app, launch it, and login with the same Internet Banking credentials. To use the Freedom First Mobile App, you must be enrolled as a Freedom First FCU Internet Banking user. The app also features a unique 4-digit passcode setting that prevents unauthorized access. The app utilizes the same bank-level security that protects you when you’re on Internet Banking. It is fast, secure and makes life easier by empowering you with the tools you need to manage your personal finances.Īlerts & Notifications: Set alerts for low funds and be notified about upcoming bills.Īdd Tags, Notes, Images & Geo-Information: By enhancing transactions with custom tags, notes or photos of a receipt or check, you have the ability to stay organized and find exactly what you’re looking for when searching through your finances.Ĭontact: Locate ATMs or branches and contact Freedom First FCU customer service directly from the app. The Freedom First Mobile App is a free mobile decision-support tool.
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