How to Close Out a Joint Checking Account

In most cases, a single owner of a joint checking account can close the account -- it is not necessary for both owners to make the request. As with any checking account, the account balance must be positive or zero before the account can be closed.

Difficulty:

Easy

Instructions

Things You'll Need

• Your I.D.

1. Go to the bank and tell the teller that you would like to close out an account.

2. The teller will point you to a waiting area or an office. A financial specialist or a manager will come out and get you.

3. Tell the financial specialist that you would like to close out a joint checking account and show them your I.D. to establish that you are one of the account owners. Make sure you inform them that it is a joint account.

4. The bank officer will review your account, have you sign a few papers and then hand you a check with the balance that was left in the checking account. It is as simple as that. They will ask you to inform the other person on the account that it has been closed.

Tips & Warnings

• Make sure that you do not have any checks out before you close the account. If you do, you can either wait for them to clear or tell the bank to stop payment. (The fee to stop payment on a check is usually somewhere around $30.)

• Your account cannot be in the negative if you want to close it out.