The only reliable way to close a checking account is to contact the financial institution and tell them you want to close your account. If you don't do this, depending on the type of account you have, the minimum balance requirements, and your balance, you may be charged fees. These fees could cause your account to become negative, and then the financial institution will also charge you overdraft fees. Although you might be able to negotiate any fees incurred, you are responsible for paying them. If you don't pay them, the financial institution may report you to a credit bureau and/or Chex Systems (a company that provides information to financial institutions about mishandled checking and savings accounts) that could affect your ability to open financial accounts in the future. We would like your feedback on this Personal Finance Frequently Asked Question.

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