How to Close a Joint Bank Account
A joint bank account usually has two account holders, both carrying equal responsibility to the account. A joint bank account has to be closed in person by either account holder. In most cases, identification is required and forms are filled out to complete the task.
- Contact the financial institution and find out the requirements to close a joint bank account. Ask what kind of identification is accepted to close the account. Many financial institutions only require one account holder present to close a joint bank account, and will require two different forms of identification.
- Review the joint account for any outstanding checks and deposits that have not cleared. Decide if any stop-payment requests are needed for outstanding checks before you close the joint bank account. Change any direct deposits or debits over to a new account.
- Visit the financial institution and wait for an account service representative to help you. Explain to the account services representative that you need to close a joint bank account. Provide them with the required forms of identification and ask them any questions you may have before closing the account.
- Read and sign any required documents to close the joint account. Provide the account service representative with any special arrangement requests prior to closing the joint account. Decide if you want the financial institution to clear any outstanding checks before closing the account and ask the representative what options you have.
- Obtain remaining funds from the joint account. Decide if you want the remaining funds in the joint account distributed by cash or certified check.