Fees for closing accounts early and penalties for inactive or dormant accounts at US banks and credit unions.
Account Research
$10.00median
$0.10 – $495.00·149 institutions
Dormant Account
$5.00median
$1.00 – $100.00·76 institutions
Early Account Closure
$20.00median
$5.00 – $500.00·53 institutions
How 56 institutions price this fee. National median: $20.00
Many banks charge a fee if you close your account within 90-180 days of opening it. These fees typically range from $25-$50 and are designed to discourage account churning. Not all banks charge this fee, and credit unions are less likely to impose early closure penalties.
If your account has no activity for 12-24 months, banks may classify it as dormant and begin charging monthly inactivity fees of $5-$15. After a longer period, funds may be escheated to the state. Dormant fees can quickly erode small balances.
Keep accounts open for at least 6 months before closing. Set up a small recurring transaction to prevent dormancy. Before closing, transfer all funds and confirm any pending transactions have cleared. Request written confirmation of account closure.