If we start counting the reasons why people might decide to close a bank account. Then we will get a ton of them. No matter what is the reason because which you have decided to close your account. This guide will help you do it. In this guide of mine, I will tell you how you can close TIAA Bank account.
The process is very simple but there are a few things in your checklist before you approach the bank to close your account. The first thing is your account should not have any negative balance or dues pending. If you have any then you will have to clear those.
The second thing is once you submit the closing request to the bank. You are not allowed to use the account to make any transactions. So to make sure that you don’t lose access to the banking system you should make arrangements for an alternative bank account.
If you already have an extra account with you then you are good to go. But in case if you don’t have. Then select a good bank for you that is operating in the United States, and get an account opened for yourself. If you need help choosing the bank. Then read this list of questions that you should ask the bank before opening the account.
Steps to Close TIAA Bank Account
There is no online method by following which you can close your account. So you will have to follow the offline method that is explained below. If you hold an individual account follow this guide. And in case if you hold a joint bank account then follow this linked guide.
How to Contact the Bank?
This is all you should know while closing your account. There is one more very important thing. And that is you should move all your automatic payments and direct deposits to your alternative bank account. If not they will start failing. And in case if you are closing the account too early after opening it. Then you may have to pay account closing charges to the bank.