How do I close my savings account?
This can vary by bank, but the process is fairly similar.
At BBVA Compass, the balance in your account must be at zero before it can be closed. Once the balance is at zero, you can request to have your account closed by doing any of the following:
What if I’m closing a savings account at another bank. How do I switch to BBVA Compass?
Here’s how to switch to a BBVA Compass savings account:
- First, before you close your savings account, make sure all outstanding items have cleared.
- Open your BBVA Compass savings account.
- Transfer any direct deposits, such as from your job or social security, to your new account. We make this easy with a Direct Deposit Form you can send to your company’s Human Resources Department or Social Security. Check with your company or other income sources to see if anything else is required.
- To close your old savings account, simply go to a branch location, call customer service, or send an Account Closing Request Form to your bank to let them know you want to close your account. If you have a joint account, check to see if both signatures are required to close the account.
- You should receive a letter confirming your account has been closed. The remaining funds in your account can be transferred to your new account or sent to you by check.