I’m a firm believer that information is the key to financial freedom. On the Stilt Blog, I write about the complex topics — like finance, immigration, and technology — to help immigrants make the most of their lives in the U.S. Our content and brand have been featured in Forbes, TechCrunch, VentureBeat, and more.
See all posts Frank GogolHow to Close a Capital One Account: 3 Ways
Updated on March 5, 2024
Written by
Written by
Reviewed by
Rohit Mittal
Reviewed by
Rohit Mittal
Rohit Mittal is the co-founder and CEO of Stilt. Rohit has extensive experience in credit risk analytics and data science. He spent years building credit risk and fraud models for top U.S. banks. In his current role, he defines the overall business strategy, leads debt and capital fundraising efforts, leads product development, and leads other customer-related aspects for the company. Stilt is backed by Y Combinator and has raised a total of $275M in debt and equity funding to date.
See all posts Rohit MittalAt a Glance
- Closing your Capital One bank account is a simple process with four options: by phone, in-person, online, or by mail.
- Before closing, open a new account with another bank and transfer any automatic payments.
- Contact the bank to inform them of your decision and be aware of the type of account you have.
- Closing your Capital One account won’t affect your credit, but ensure you handle pending credits, reroute direct deposits, update bill payments, and make changes to linked savings or investment accounts.
Capital One Financial is one of the big banks of America, and you most likely know someone who has an account with them, or you have one yourself. Still, at some point, you might decide to part ways with the bank due to certain changes in your life. How to close a Capital One account, though? Don’t worry, it’s not that difficult – we’ll walk you through the entire process.
How to Close Your Capital One Bank Account
If you wish to close your bank account, there are three easy ways to do so:
- By phone
- In-person
- Through the mail
You can choose a method based on your possibilities or your preference.
1. Close a Capital One Bank Account By Phone
To close your Capital One account by phone, follow these steps:
- Call 1-800-655-2265, available 8 AM to 11 PM EST, 7 days a week.
- Work through the account-closing process with Customer Service
This applies to both 360 Online Accounts and Retail Branch Accounts.
2. Close a Capital One Bank Account In Person
To close a Capital One account in person, follow these steps:
- Visit a physical Capital One branch in your state.
- Provide a written cancelation request
Cancelation Request Letter Template
[Your Full Name]
[Your Address]
[City, State, Zip Code]
[Email Address]
[Phone Number]
[Date]
Capital One
[Appropriate Department or Branch Address]
[City, State, Zip Code]
Subject: Request to Close Account – [Your Account Number]
Dear Capital One,
I am writing to request the closure of my [type of account, e.g., checking, savings, credit card] account with Capital One. The details of my account are as follows:
- Account Number: [Your Account Number]
- Account Type: [Checking/Savings/Credit Card]
- Account Holder’s Name: [Your Full Name as it appears on the account]
Please consider this letter as my formal request to close the aforementioned account. I have taken the necessary steps to ensure that all checks have cleared, and there are no pending transactions. For a credit card account, I have also ensured that the balance is paid in full.
I would appreciate if you could send me a written confirmation of the account closure for my records. Additionally, if there are any remaining funds in the account, please issue a check for the remaining balance and send it to my address listed above.
Should you require any further information or action from my side to facilitate this process, please do not hesitate to contact me at [your phone number] or via email at [your email address].
Thank you for your prompt attention to this matter.
Sincerely,
[Your Signature]
[Your Printed Name]
3. Close a Capital One Bank Account Through the Mail
To close a Capital One account in person, you can prepare the same letter described above to cancel your account in-person and mail it to:
Capital One
P.O. Box 30285
Salt Lake City, UT 84130–0287
Can You Close a Capital One Bank Account Via Email?
Currently, there’s no specific procedure detailed for closing a bank account via email with Capital One.
Before Closing Your Bank Account
Below, you will find a brief list of steps you should consider and/or take before closing your Capital One account:
- Cancel all recurring transfers and payments.
- Update your address and phone number.
- Ensure all transactions have posted and are no longer pending.
- Note: Closed accounts will remain visible online for 105 days, and statements can be downloaded during this period.
Reasons for Closing a Capital One Bank Account
Despite its prominence and a customer base largely built around its credit card services, there are various reasons why individuals might choose to close their Capital One bank accounts.
Relocation
One common reason for account closure is relocation. People moving to a new state might find that their banking needs and preferences change. This shift could be driven by factors such as finding more competitive banking offers or seeking a bank with branches closer to their new residence.
Accessibility
Another significant factor is accessibility. Capital One has a limited ATM network, with only about 2,000 ATMs across nine states. For customers relocating to areas where Capital One lacks a presence, continuing to use its services can become inconvenient, especially considering the additional fees incurred when using non-Capital One ATMs.
Financial Terms
The bank’s fees and minimum account requirements can also prompt customers to look elsewhere. Some individuals may find these terms unmanageable or not aligned with their financial situation. Consequently, they might opt for banks offering lower fees and more lenient account requirements.
Technological Challenges
Finally, the increasing reliance on technology in banking can be daunting for some. Not everyone is comfortable or skilled in managing their banking digitally. This discomfort with technology, particularly for those who prefer traditional, in-person banking experiences, can lead individuals to close their accounts and seek more traditional banking options.
Read More
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Final Thoughts
Do you have a Capital One account that you want to close? If that’s the case, you should start changing automatic payments and deposits to another account, and then let Capital One know what you decided. Just like with other banks such as Wells Fargo and the Bank of America, it’s easy to close your account and it will not affect your credit.
Closing a Capital One Bank Account FAQ
1. How can I close my Capital One bank account?
You can close your Capital One bank account by calling their customer service at 1-800-655-2265, visiting a local branch in person, or by mailing a formal account closure request to the bank. It’s recommended to check the specific procedures and requirements on Capital One’s official website or by contacting customer service.
2. Are there any fees associated with closing a Capital One bank account?
Typically, there are no fees for closing a Capital One bank account. However, it’s important to ensure all pending transactions are cleared and the account has a zero balance to avoid any unexpected charges.
3. What should I do before closing my Capital One bank account?
Before closing your account, make sure to:
- Cancel any recurring payments or transfers.
- Update your contact information.
- Clear all pending transactions.
- Transfer any remaining funds to another account.
4. Can I close my Capital One bank account online?
As of the latest information, Capital One does not offer the option to close bank accounts online. You need to either call their customer service, visit a branch, or send a written request by mail.
5. How long does it take to close a Capital One bank account?
The time it takes to close an account can vary. Once Capital One receives your closure request, it may take several business days to process. Ensure that all transactions have cleared before expecting the account to be fully closed.
6. What happens to the rewards I’ve earned on my Capital One account after closing it?
If you have a rewards account, it’s advisable to redeem your rewards before closing the account. Typically, unredeemed rewards are forfeited once the account is closed.
7. Can I reopen my Capital One account after closing it?
Reopening a closed Capital One account is generally not possible. It’s important to be certain about your decision to close the account.
8. Will closing my Capital One bank account affect my credit score?
Closing a bank account usually does not directly impact your credit score. However, if you have an overdraft line or other credit products linked to the account, it’s best to consult with Capital One or a financial advisor regarding potential impacts.
9. What documentation will I receive confirming the closure of my account?
Upon request, Capital One can provide written confirmation of your account closure. This documentation can be sent by mail or email, as per your preference.
10. Can I close my account if I have a negative balance?
You will need to settle any negative balance before you can close your account. Contact Capital One for guidance on resolving a negative balance.
Frank Gogol
I’m a firm believer that information is the key to financial freedom. On the Stilt Blog, I write about the complex topics — like finance, immigration, and technology — to help immigrants make the most of their lives in the U.S. Our content and brand have been featured in Forbes, TechCrunch, VentureBeat, and more.