Is There a Fee to Close a Bank Account and How to Avoid It

Closing a bank account can be a relatively straightforward process, but it's essential to understand the potential fees involved.

Some banks charge a fee for closing an account, which can range from $10 to $30, depending on the institution and the account type.

To avoid these fees, it's crucial to review your account agreement and check for any specific requirements or penalties associated with closing your account.

By doing your research and understanding the terms and conditions, you can avoid unexpected fees and close your account smoothly.

Fees can be a real shock when you're trying to close a bank account. Some banks charge an early account closure fee, which can range from $0 to $50.

BB&T charges a $24 fee if you close your account within 90 days of opening. Bank of America, on the other hand, doesn't charge an early account closure fee at all.

M&T Bank charges a $50 fee if you close your account within 180 days of opening. Regions Bank and U.S. Bank also charge a $25 fee if you close your account within 180 days of opening.

Here's a list of top U.S. banks that charge early account closure fees:

Keep in mind that some banks have different terms for closing accounts, so be sure to check the fine print before you open an account.

Avoiding Closure Fees can be a challenge, especially if you're not aware of the rules. You can avoid early account closure fees by researching whether a bank charges such a fee before you open an account there. Be aware of how long you'll need to keep the account open to avoid being charged the fee.

Some banks don't charge early account closure fees, so it's worth finding such a bank if there's a good chance you'll be closing the account or switching banks in the near future. For example, Bank of America and Wells Fargo don't charge early account closure fees.

If you're unable to avoid closing your account early, you can try presenting your case to the bank to get the fee waived. For instance, if you're getting married and merging bank accounts, you could present a marriage license. If you're moving unexpectedly to an area where the bank has no presence, present documentation to support that.

Here are some banks that charge early account closure fees and their respective fees:

A closure fee is a charge you might face if you close your bank account too soon after opening it. This fee is usually between $5 and $50.

Some banks charge an early account closure fee if you close your account within 90 days of opening, while others require you to keep the account open for up to 180 days to avoid the fee. You can find out whether a given bank charges an early account closure fee by looking at the bank's fee schedule on their website.

The amount of the fee varies by bank, with some charging as little as $5 and others charging up to $50. For example, Alliant Credit Union charges a $10 fee if you close your account within 90 days of opening.

Here are some popular banks that charge early account closure fees:

You can avoid early account closure fees by researching the bank's fee schedule before opening an account. This will give you a clear idea of how long you'll need to keep the account open to avoid the fee.

Many banks don't charge early account closure fees, so it's worth finding such a bank if you think you'll be closing the account or switching banks soon. This way, you can avoid the hassle and expense of the fee altogether.

To avoid the early account closure fee, make sure you understand the bank's terms of service when it comes to closing accounts. Some banks require you to keep the account open for a certain period of time to get a cash bonus or avoid the fee.

If you're forced to close your account early, you could reconsider and wait to close it. This may give you enough time to avoid the fee.

To avoid early account closure fees, it's essential to research the bank's policies before opening an account. Many banks don't charge these fees, so it's worth finding one that fits your needs.

You can avoid early account closure fees by keeping your account open for at least 90 to 180 days, depending on the bank. Some banks, like Alliant Credit Union, charge a $10 fee if the account is closed within 90 days.

If you're aware of the bank's terms of service, you can avoid these fees altogether. Most banks require account holders to keep their account open for a certain period to get a cash bonus or avoid early account closure fees.

To give you a better idea, here's a list of banks that charge early account closure fees and the conditions for assessment:

If you do need to close your account early, you can try presenting your case to the bank to get the fee waived. This might work if you have a valid reason, such as getting married or moving to an area where the bank has no presence.

Closing a bank account can come with a surprise fee, known as an early account closure fee. This fee can range from $5 to $50, depending on the bank and the account type.

Some banks charge this fee if you close your account within 90 days of opening, while others may charge it if you close within 180 days. For example, Alliant Credit Union charges a $10 fee if you close your account within 90 days, while Huntington National Bank charges a $20 fee if you close within 180 days.

You can avoid this fee by researching the bank's policies before opening an account. Many banks don't charge early account closure fees, so it's worth shopping around to find one that fits your needs.

Here's a breakdown of some popular banks and their early account closure fees:

The early account closure fee is in place to discourage customers from leaving, as banks incur expenses when onboarding new clients. However, you can avoid this fee by being aware of the bank's policies and requirements before opening an account.

Many people keep their bank accounts significantly longer than just a few months. Some banks and credit unions don't charge a fee for early account closure, but others may charge between $5 and $50 to customers who don't hold onto their account for more than a few months.