How to close a savings account

Closing a savings account is simple but can take some time. Here are the important steps:

1. Before you close a savings account, it’s important to have your new account already opened.

2. Update any recurring deposits or automatic withdrawals from your old account to your new one. Monitor that those automatic transactions are successful.

3. Move your money to the new account with an online transfer.

4. Close your old savings account after you download the transaction history for your records.