Have you wondered how to close Capital One Account? Some relationships can be toxic to your finance. And the one with Capital One may be on the list.
But there’s no need to lose a sleep about it. If you’re ready to move on, the process can be simple, pain free.
If you’ve been putting off making the move from your Capital One account, it’s understandable.
You might be wondering how to close your account online, how long it takes to close a bank account or if closing a bank account affects your credit score.
Ready to Close Capital One Account?
Your reasons for wanting to close a Capital one bank account could be many. Maybe you’re getting married and considering a joint account.
Perhaps you’re unhappy with Capital One bank’s fees, services, or features. Or maybe you just need a fresh start. Guess what? it’s your cash and you can take it out whenever and wherever you like.
Whatever your reasons may be, we have a step-by-step guide on how to close Capital One account that helps you through the process.
Guideline to follow to Close Capital One Account
- Open an account at your new bank
This is a no brainer. You will definitely need a new place for your money to stay before closing its old place of residence.
- You’ll want to give your employer your new account information as soon as possible because it can take a few weeks for your paycheck to be rerouted.
- You will need to reset Your automatic payments. It’s not difficult to shift these payments from Capital One bank to your new bank. Just ensure you do not to leave any current payees off the list.
- Do not do anythingwith your Capital One account, as it can take up to a month or so for everything to finally switch over. So, hold on as you confirm that your paychecks are reaching your new account and bill payments are being processed properly.
- It’s a good idea to keep a balance in your Capital One account until you’re sure your new account is handling everything without any hassle.
Time to Close Your Capital One Account
Once your account is empty, here is how you can close your Capital One account:
- Go to any Capital One branch near you and close the account in person.
- You can call their customer service team,
- You can also mail or fax an account closure request with your contact and account information
- Last but not the least, you can visit Capital One’s website and close your account online.
Things To Keep in Mind while You Close Capital Once Account
Be sure to make it official with clear instructions so that Capital One stops sending statements and charging fees.
If there’s more cash left in your account, you can request a cashier’s check and send the funds to yourself via bank-to-bank online transfer.
Do you have joint bank account with Capital One? you can close it without permission from the other account holder. Once you have a zero balance, just visit your branch (with an ID) and fill out the appropriate form.
When closing your Capital One account via online, for joint account holder, both of you may be asked to log in separately.
In some cases, closing a Capital One account via fax or mail requests are accepted, but not often.
And take note: Capital One as with other banks can sometimes reopen a closed account if automatic withdrawals or deposits continue to be made. That you know can lead to fees you don’t want to pay, so you’ll want to be thorough.