Closing Your Citizens Bank Account Online

Quick answer

• Citizens Bank generally requires you to close accounts in person or by phone, not online.
• You can initiate the process by calling Citizens Bank customer service.
• Be prepared to verify your identity and provide account details.
• Ensure all outstanding checks have cleared and automatic payments are updated before closing.
• Transfer any remaining funds to another account or request a cashier’s check.
• Confirm the account is officially closed to avoid future fees.

Who this is for

• Existing Citizens Bank customers who no longer need their checking or savings account.
• Individuals looking for the most convenient way to close their account, ideally online.
• Those who need to understand the necessary steps and potential hurdles in closing an account.

What to check first (before you act)

Goal and timeline

Before you close your Citizens Bank account, clearly define why you’re closing it and when. Are you consolidating accounts, moving to a different bank, or closing an account you no longer use? Knowing your end goal will help you plan the transition smoothly. For example, if you’re moving to a new bank, you’ll want to open your new account before closing the old one to avoid a gap in banking services.

Current cash flow

Understand how your money moves in and out of the account you plan to close. Review recent statements to identify any recurring automatic payments (like subscriptions, utility bills, or loan payments) or direct deposits (like your paycheck). You’ll need to redirect these to a different account before closing your Citizens Bank account to prevent service interruptions or missed payments.

Emergency fund or safety buffer

If this Citizens Bank account holds your emergency fund, ensure you have a plan to move those savings to a new, secure location before closing the account. Never close an account that serves as your primary safety net without a readily accessible replacement. This buffer is crucial for unexpected expenses.

Debt and interest rates

Check if you have any outstanding debts or loans directly linked to this Citizens Bank account. If so, you’ll need to settle these debts or arrange for payments to be made from a different account before you can close it. Also, consider if this account offers any benefits, like a linked savings account with a competitive interest rate, that you might lose.

Credit impact

Closing a bank account typically has minimal direct impact on your credit score. However, if the account is linked to any credit-building products or if closing it leads to missed payments on other financial obligations, it could indirectly affect your creditworthiness. Ensure all financial obligations are met before proceeding.

Step-by-step (simple workflow)

Step 1: Review your account activity

• What to do: Look at your most recent Citizens Bank statements. Identify any pending transactions, automatic withdrawals, or direct deposits.
• What “good” looks like: You have a clear picture of all money going in and out of the account.
• A common mistake and how to avoid it: Forgetting about small, recurring subscriptions. Make a list of all automatic payments and deposits.

Step 2: Redirect automatic payments and deposits

• What to do: Update your payment information with any companies or individuals who have automatic withdrawals set up from this account. Similarly, inform your employer or any other sources of direct deposits about your new account details.
• What “good” looks like: All automatic payments are now linked to a different, active account, and all expected deposits will go to your new account.
• A common mistake and how to avoid it: Assuming a payment will just stop. Many services will continue to try and charge the old account, leading to overdraft fees or service disruptions. Proactively update all vendors.

Step 3: Ensure all checks have cleared

• What to do: Review your statement for any checks you’ve written that may not have cleared yet.
• What “good” looks like: All checks you’ve issued have been processed and debited from your account.
• A common mistake and how to avoid it: Closing the account before all checks clear. This can lead to bounced checks, fees, and damage to your reputation with merchants.

Step 4: Transfer remaining funds

• What to do: Move any balance left in your Citizens Bank account to another checking or savings account. You can typically do this online through Citizens Bank’s online banking portal or via a transfer to an external account.
• What “good” looks like: The account balance is zero or very close to zero, with funds successfully moved to your designated account.
• A common mistake and how to avoid it: Leaving a small balance that could accrue fees or be difficult to retrieve later. Aim to empty the account as much as possible.

Step 5: Contact Citizens Bank

• What to do: Call Citizens Bank customer service. You will need to provide your account number and personal information to verify your identity.
• What “good” looks like: You are speaking with a representative who can assist you with closing the account.
• A common mistake and how to avoid it: Expecting to find a direct “close account” button online. Citizens Bank typically requires a phone call or in-person visit.

Step 6: Confirm account closure

• What to do: Ask the representative to confirm that the account is officially closed and that no further transactions will be processed. Request a confirmation number or a written statement if possible.
• What “good” looks like: You have received confirmation that the account is closed and there will be no further activity.
• A common mistake and how to avoid it: Assuming the account is closed just because you’ve been told so. Get written or reference confirmation to be sure.

Step 7: Monitor your statements

• What to do: After closing the account, keep an eye on your final statement from Citizens Bank and check your other accounts for any unexpected activity.
• What “good” looks like: No new charges or activity appear on the closed account, and all transferred funds are accounted for.
• A common mistake and how to avoid it: Not monitoring for a few weeks. Sometimes, a delayed transaction or an unexpected fee can appear even after you believe the account is closed.

Common mistakes (and what happens if you ignore them)

Mistake	What it causes	Fix
Not redirecting automatic payments	Service interruptions, late fees, potential credit score damage.	Proactively update all vendors with your new account information before closing.
Not redirecting direct deposits	Delayed income, potential financial hardship.	Inform your employer and any other deposit sources of your new account details well in advance.
Closing before all checks clear	Bounced checks, merchant fees, negative mark with retailers.	Review your statement for all outstanding checks and wait for them to clear.
Leaving a small balance in the account	Potential for inactivity fees or minimum balance fees to accrue.	Transfer all funds, aiming for a zero balance, or confirm fee structure with the bank.
Not getting confirmation of closure	The account might remain open, leading to unexpected fees or activity.	Request a confirmation number or written statement from the bank.
Forgetting about linked services	Loss of benefits or continued charges on a closed account.	Identify all services linked to the account and cancel or transfer them.
Not updating bill payees	Missed bill payments, late fees, and potential service disconnections.	Manually update all bill payees in your new banking platform.
Assuming online closure is possible	Wasted time searching for a non-existent online option, delaying the process.	Call customer service or visit a branch, as online closure is not typically an option.
Not checking for overdrafts or fees	Unexpected charges that need to be settled before closure.	Review your account for any outstanding fees or overdrafts and settle them.
Closing a primary account too quickly	Lack of immediate access to funds for essential needs.	Ensure your new primary account is fully operational before closing the old one.

Decision rules (simple if/then)

• If you have recurring automatic payments tied to the account, then you must update those payment details before closing because failure to do so can result in service disruptions and fees.
• If you are expecting a direct deposit soon, then you should wait for that deposit to clear and then redirect future deposits before closing the account because you need uninterrupted access to your income.
• If you have written checks that haven’t cleared, then you must wait for those checks to be processed and debited from your account before closing because closing too early can lead to bounced checks and associated fees.
• If your account balance is zero or negative, then you can proceed with contacting Citizens Bank to close it because there are no funds to transfer and no outstanding balance to settle.
• If you have an emergency fund in this account, then you should transfer those funds to a new, secure account before closing this one because your emergency fund needs to remain accessible.
• If you are unsure about all pending transactions, then review your most recent statements thoroughly before contacting the bank because it’s crucial to have a complete picture of account activity.
• If you prefer not to call, then you will need to visit a Citizens Bank branch because closing accounts online is generally not an option for this bank.
• If you have a linked savings account with a competitive interest rate, then consider if closing this account means losing valuable savings before you proceed because you might be sacrificing potential earnings.
• If you are closing the account due to dissatisfaction with Citizens Bank, then consider writing a formal complaint to the bank after closure because this feedback can help them improve their services.
• If you need to retrieve old statements after closure, then download them beforehand because access to past records may be limited or unavailable once the account is officially closed.
• If you have any loans or credit products with Citizens Bank linked to this account, then ensure those are settled or transitioned properly before closing because this can prevent complications.
• If you want to ensure no residual fees are charged, then aim for a zero balance and confirm closure with the bank because this minimizes the risk of future charges.

FAQ

Can I close my Citizens Bank account online?

No, Citizens Bank generally does not allow customers to close accounts online. You will typically need to call their customer service or visit a branch in person to complete the process.

What information do I need to close my account?

You will need to provide your account number, personal identification details (like your Social Security number or driver’s license), and potentially answer security questions to verify your identity.

How long does it take to close an account?

Once you initiate the process with the bank, the closure can often be effective immediately or within a few business days, provided all conditions are met. However, it’s wise to monitor your account for a short period afterward.

What happens to the money left in my account?

Any remaining funds will need to be transferred to another account or you can request a cashier’s check from Citizens Bank before the account is officially closed.

Will closing my bank account affect my credit score?

Typically, closing a checking or savings account has no direct impact on your credit score. However, if it leads to missed payments on other debts or affects credit-building products, it could have an indirect effect.

Should I close my account if I have overdrafts?

No, you must settle any outstanding overdrafts and fees before you can close your account. Citizens Bank will require the balance to be zero or positive, minus any pending transactions.

What if I have automatic payments set up?

You must update your payment information with all vendors and service providers to ensure they are directed to your new account before closing your Citizens Bank account to avoid service interruptions.

How can I be sure the account is truly closed?

Always ask for a confirmation number or a written statement from Citizens Bank confirming the account closure. Monitor your statements for a few weeks to ensure no further activity occurs.

What this page does NOT cover (and where to go next)

• Opening a new bank account: This guide focuses on closing. You may need to research and open a new account at a different financial institution.
• Specific Citizens Bank fees and policies: Details on account fees, closure policies, and specific product terms can vary. Always check the official Citizens Bank website or speak with a representative for precise information.
• International banking needs: This guide is for US-based account closures. If you have international banking requirements, you will need to seek specialized advice.
• Investment accounts: This guide pertains to checking and savings accounts. Closing investment accounts involves different procedures and considerations.
• Dispute resolution: If you encounter significant issues or disputes with Citizens Bank during the closure process, you may need to consult consumer protection resources.