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Started By
Message
Closing a checking account
Posted on 4/7/12 at 3:05 pm
Posted on 4/7/12 at 3:05 pm
Wanting to close a cap one free checking account. They state it will close 5 days after maintaining a zero balance. I want it to close in one visit to a branch, draw out balance, end of story. Can I do this on my terms? Any advice?
3
Posted on 4/7/12 at 4:14 pm to sonusfaber
I had no idea they closed accounts with a zero balance until a few years ago when I had reason to take out all my cash, but didn't intend to close.
Was I surprised.
Was I surprised.
Posted on 4/7/12 at 4:18 pm to sonusfaber
You can withdraw all the money but the account won't close immediately, the bank wants to leave it active in case there's additional activity (interest earned for the month, another check comes in, etc.).
Posted on 4/7/12 at 5:34 pm to foshizzle
quote:
the bank wants to leave it active in case there's additional activity (interest earned for the month, another check comes in, etc.).
I know and I don't want that; hence the question. Can I close it in one shot, boom , done?
Posted on 4/7/12 at 5:53 pm to sonusfaber
Doubtful.
Posted on 4/8/12 at 1:00 am to sonusfaber
I closed out a checking account from CapOne in August by going to a branch and having it closed out. It took 5 minutes.
Why wouldn't you be able to?
Why wouldn't you be able to?
Posted on 4/8/12 at 6:04 am to sonusfaber
Why do you want this?
Posted on 4/8/12 at 6:04 am to sonusfaber
quote:I cannot imagine a bank doing that. Further, whether it's closed immediately, or in 5 days should be transparent to you? Transparent to the extent many banks will tell you the account is immediately "closed" even though it technically isn't for a few days.
Can I close it in one shot, boom , done?
Posted on 4/8/12 at 8:18 am to NC_Tigah
It'll affect your credit.
Posted on 4/8/12 at 8:35 am to RollTide4Ever
Some of the info in this thread 
Also, it will not hurt your credit score.
Also, it will not hurt your credit score.
Posted on 4/8/12 at 8:38 am to RollTide4Ever
quote:
It'll affect your credit.
How so?
Posted on 4/8/12 at 9:50 am to NC_Tigah
quote:
quote:
It'll affect your credit.
How so?
The only way that I can see this happening is if he closes the account, an item comes through and the bank reports him to chex systems.
But I don't think that even shows on a credit report. It would just prevent him from being able to open another checking at another institution.
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