How to Close a USAA Savings Account: A Step-by-Step Guide

Published on: March 19, 2025March 19, 2025Author: Bestie Paws

If you’re looking to close your USAA savings account, whether due to switching banks, consolidating accounts, or simply no longer needing it, it’s important to follow the right process to avoid complications. USAA offers several ways to close your account, but knowing which method is fastest, safest, and most convenient can save you time and frustration.

🔥 Key Takeaways: Quick Answers to Essential Questions

Question ❓	Quick Answer ✅
What is the fastest way to close a USAA savings account?	Calling 800-531-USAA (8722) is the quickest method.
Can I close my account online?	Yes, via live chat on USAA’s website, but it may take longer than calling.
Can I close a USAA savings account in person?	Only if you live near a USAA financial center (limited locations).
What happens to my remaining balance?	You can transfer it to another USAA account or request a check by mail.
Are there any fees for closing my account?	No, USAA does not charge a fee for account closure.
Can USAA refuse to close my account?	Rarely, but possible if there are pending transactions or account issues (e.g., suspected fraud).
Will I lose access to my statements?	Yes, after closure. Download all statements before closing.

📞 What Is the Fastest Way to Close a USAA Savings Account?

📢 Calling USAA at 800-531-8722 is the quickest and most direct way to close your savings account.

📊 Step-by-Step Guide for Closing Your Account Over the Phone:

Step 🛠️	Action ✅
1️⃣ Call USAA	Dial 800-531-8722 and follow the prompts to speak with a representative.
2️⃣ Verify Your Identity	Provide your account number, Social Security number, or USAA number for authentication.
3️⃣ Request Account Closure	Clearly state that you want to close your savings account.
4️⃣ Handle Remaining Funds	Choose whether to transfer the balance to another USAA account or receive a check by mail.
5️⃣ Confirm Closure	Ask for a confirmation email or reference number for your records.

💡 Pro Tip: Before calling, ensure all pending transactions (deposits, withdrawals, or bill payments) have cleared to avoid delays.

💻 Can You Close a USAA Savings Account Online?

✅ Yes, but only through live chat.

📊 How to Close Your USAA Savings Account Online:

Step 🖥️	Action ✅
1️⃣ Log Into USAA.com	Visit www.usaa.com and sign in.
2️⃣ Go to the Help Section	Look for “Contact Us” or “Help” in the menu.
3️⃣ Start a Live Chat	Click on the live chat option and connect with a representative.
4️⃣ Provide Account Information	Share your account number and verification details.
5️⃣ Request Closure	Confirm your decision and ask about balance disbursement options.
6️⃣ Save Confirmation	Take a screenshot of the chat or request an email confirmation.

💡 Pro Tip: Online chat is not available 24/7 and may have longer wait times than phone support. If urgent, call instead.

🏦 Can You Close a USAA Savings Account in Person?

✅ Yes, but only if you live near a USAA financial center.

📊 USAA Financial Center Locations (Limited Availability):

State 📍	Cities with USAA Financial Centers 🏦
Texas	San Antonio, Austin
Colorado	Colorado Springs
Maryland	Annapolis

📊 How to Close an Account in Person:

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Step 🛠️	Action ✅
1️⃣ Find a Location	Use the “Find a Financial Center” tool on USAA’s website.
2️⃣ Bring Identification	Carry a valid photo ID (driver’s license, passport, or military ID).
3️⃣ Request Account Closure	Speak with a representative and ask to close your savings account.
4️⃣ Receive Final Funds	Choose to transfer the balance or receive a check.
5️⃣ Get Confirmation	Request written proof of account closure.

💡 Pro Tip: If visiting in person, call ahead to confirm hours and service availability.

✉️ Can You Close a USAA Savings Account by Mail?

📌 Yes, but it is the slowest option and not recommended unless necessary.

📊 How to Close a USAA Savings Account by Mail:

Step ✉️	Action ✅
1️⃣ Write a Closure Request Letter	Include your full name, account number, USAA number, and request for account closure.
2️⃣ Specify Balance Instructions	Indicate whether you want a check mailed or the funds transferred to another USAA account.
3️⃣ Provide Contact Information	Include your phone number and mailing address for confirmation.
4️⃣ Mail to USAA Headquarters	Send to USAA Federal Savings Bank, 10750 McDermott Freeway, San Antonio, TX 78288.
5️⃣ Wait for Confirmation	Account closure via mail can take several weeks.

💡 Pro Tip: If you must use mail, send it via certified mail to track delivery.

📝 What to Do Before Closing Your USAA Savings Account

📊 Checklist to Avoid Issues Before Closing Your Account:

Task 🛠️	Why It’s Important ✅
Withdraw or Transfer Funds	Ensures no money is left behind.
Stop Automatic Deposits	Prevents funds from being sent to a closed account.
Cancel Recurring Payments	Avoids failed transactions and penalties.
Download Statements	You may lose access to past statements after account closure.
Check for Pending Transactions	Ensures all deposits and withdrawals have cleared.

💡 Pro Tip: If closing your account because of switching banks, set up your new account first and move all deposits/payments before closing USAA.

❓ Common Issues When Closing a USAA Savings Account

📊 Possible Problems & Solutions:

Issue ❌	Why It Happens ⚠️	How to Fix It ✅
Pending Transactions Prevent Closure	Account has automatic deposits or unpaid withdrawals.	Wait for transactions to clear or manually cancel them first.
USAA Won’t Close the Account	Possible fraud review, identity verification issue, or negative balance.	Call USAA customer service to resolve before trying again.
Funds Didn’t Transfer Correctly	Error in disbursement request.	Double-check transfer details and request confirmation from USAA.
Lost Access to Account After Closure	Closure means loss of online account access.	Download all statements before closing the account.

🏁 Final Thoughts on Closing a USAA Savings Account

✔️ Calling USAA (800-531-8722) is the fastest way to close your savings account.
✔️ Ensure all pending transactions are cleared before requesting closure.
✔️ Download statements before closing, as you may lose online access.
✔️ If switching banks, set up your new account and redirect transactions first.
✔️ Get confirmation of closure to avoid any future disputes.

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💬 Comment Section

💭 Comment: “Can I close my USAA savings account if I have pending transactions?”

⏳ No, USAA will not process an account closure if there are pending deposits, withdrawals, or automatic payments still in progress.

📊 How to Clear Pending Transactions Before Closing:

Transaction Type 💳	What to Do ✅	Processing Time ⏳
Pending Direct Deposit	Wait for it to post, then transfer funds out.	1-3 business days
Unprocessed Withdrawals	Allow them to clear before requesting closure.	1-2 business days
Scheduled Bill Payments	Cancel or update payment method with the biller.	Immediate to 48 hours
Recurring Transfers Between USAA Accounts	Disable in online banking or call USAA.	Instant
Debit Card Holds (Gas, Hotels, Rentals, etc.)	Wait until the hold is removed.	Up to 7 days

💡 To avoid delays, check your recent transactions in the USAA mobile app or online before submitting a closure request.

💭 Comment: “What happens to my account history and statements after I close my USAA savings account?”

📑 Once your USAA savings account is closed, online access to past statements may be lost. However, you can request copies for record-keeping.

📊 What You Need to Know About Statements and Account History:

Access Method 📂	What Happens After Closure ❌	How to Retrieve It ✅
USAA Online Banking	No longer accessible after closure.	Download statements before closing the account.
USAA Mobile App	Removed from the app after closure.	Screenshot important transaction history if needed.
Paper Statements (If Previously Requested)	Will not be mailed automatically.	Call USAA to request mailed copies.
Tax Forms (1099-INT, etc.)	Still provided at tax time if applicable.	Available via mail or USAA tax portal.

💡 Before closing, save a copy of your statements in PDF format to ensure you have records for taxes or financial tracking.

💭 Comment: “Can I reopen a closed USAA savings account if I change my mind?”

🔄 No, once a USAA savings account is closed, it cannot be reopened. However, you can open a new account if needed.

📊 Alternatives to Reopening a Closed USAA Savings Account:

Scenario 🔍	Alternative Solution ✅
Accidentally Closed the Account	Open a new USAA savings account and transfer funds.
Need Account History	Call USAA to request old statements.
Lost Direct Deposit Setup	Update employer or agency with new account details.
Want to Keep USAA Banking Benefits	Maintain a different active account (checking, CDs, or money market).

💡 To avoid unintended closure, consider reducing your balance to $0 and keeping the account open for future use instead of fully closing it.

💭 Comment: “If I close my USAA savings account, will it affect my checking account or other USAA services?”

🔎 No, closing a savings account does not impact other USAA accounts, but linked services may be affected.

📊 What Closing a USAA Savings Account Affects (or Doesn’t):

Service 🏦	Impact After Savings Account Closure 🔄
USAA Checking Account	✅ Unaffected—remains active and accessible.
USAA Credit Cards	✅ No impact unless automatic payments were linked to savings.
Direct Deposits to Savings	❌ Must be updated to a different USAA or external account.
USAA Insurance Payments	❌ If linked to savings, update payment method to avoid lapses.
Online Banking Login	✅ Still accessible for other active accounts.

💡 Before closing, ensure any direct deposits or recurring bill payments are moved to a different USAA account to prevent disruption.

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💭 Comment: “Can I still use my USAA debit card if I close my savings account?”

💳 If your debit card is linked only to the savings account, it will become inactive upon account closure.

📊 USAA Debit Card Access After Closing Savings Account:

Debit Card Type 💳	Effect of Savings Closure ❌	Alternative Solution ✅
Linked to USAA Checking	✅ No impact—card remains active.	No action needed.
Linked Only to Savings	❌ Card will be deactivated.	Use a USAA checking account for debit purchases.
ATM Withdrawals from Savings	❌ No longer possible after closure.	Withdraw funds before closing the account.

💡 If you frequently use a debit card, ensure it’s linked to an active USAA checking account before closing your savings account.

💭 Comment: “Does closing a USAA savings account affect my credit score?”

📉 No, closing a USAA savings account does not impact your credit score, as savings accounts are not reported to credit bureaus.

📊 How Savings Account Closures Relate to Credit Scores:

Factor 🔍	Impact on Credit Score 📊	Why It Matters ✅
Closing a USAA Savings Account	❌ No effect	Savings accounts do not appear on credit reports.
Overdraft Fees or Negative Balances	⚠️ Possible impact	If unpaid, USAA may send it to collections, affecting your score.
Closing a USAA Credit Card	✅ Yes, may affect score	Reduces available credit, impacting utilization ratio.
Maintaining a Checking Account	❌ No direct impact	Banking history is separate from credit reporting.

💡 While closing a savings account won’t hurt your credit, unpaid fees or overdrafts left unresolved could affect your financial standing.

💭 Comment: “Will I get a final account closure confirmation from USAA?”

📩 Yes, USAA typically provides a confirmation of account closure via email, mail, or online banking.

📊 How to Get Proof of Account Closure:

Confirmation Method 📩	How to Obtain It ✅
Email Confirmation	Request at the time of closure via phone or chat.
Mailed Statement	Call USAA and ask for a physical confirmation letter.
Online Message Center	Check secure messages in USAA online banking.
Reference Number	Write down the closure reference number given over the phone.

💡 Always save a copy of your confirmation to ensure there are no future disputes about account status.

💭 Comment: “How long does it take for USAA to fully close my savings account?”

⏳ Most USAA savings account closures are processed within 24 hours, but certain factors can delay it.

📊 Timeframes for USAA Savings Account Closure:

Closure Method 📞	Processing Time ⏳	Possible Delays ⚠️
By Phone (Fastest)	24 hours	Pending transactions, identity verification issues.
Online Chat	1-2 business days	Slower response times, manual processing.
In Person (Limited Locations)	Immediate	Must visit a financial center in person.
By Mail (Slowest)	7-14 business days	Mail delays, missing required information.

💡 For the fastest closure, call USAA and request immediate processing while ensuring there are no pending transactions.

💭 Comment: “Can I close my USAA savings account if my balance is negative?”

🚨 No, USAA will not allow you to close your savings account if it has a negative balance. The outstanding balance must be resolved before the account can be closed.

📊 How to Handle a Negative Balance Before Closing Your USAA Savings Account:

Reason for Negative Balance ❌	Solution ✅	Processing Time ⏳
Overdraft Fees or Insufficient Funds	Deposit funds to bring the balance back to zero or higher.	Immediate upon deposit
Pending Transactions (Unpaid Bill, Transfer, or Withdrawal)	Wait for the transaction to clear, then add sufficient funds.	1-3 business days
USAA Fees (Returned Payment, Service Charges, etc.)	Pay the outstanding balance via another USAA account or external transfer.	Immediate upon payment
Unauthorized Charges or Fraudulent Activity	Contact USAA to dispute charges and resolve discrepancies before closing.	Varies depending on investigation

💡 If you’re unsure why your balance is negative, review your transaction history in the USAA mobile app or call customer service for clarification before proceeding.

💭 Comment: “Can I close my USAA savings account and still keep my membership?”

🔹 Yes! Closing a savings account does not affect your USAA membership, as long as you maintain at least one other active account.

📊 How Closing a USAA Savings Account Affects Your Membership:

USAA Service 🏦	Status After Savings Account Closure ✅
USAA Checking Account	Remains active
USAA Credit Cards	No impact
USAA Auto, Home, or Life Insurance	No impact
USAA Loans or Mortgages	Unaffected
USAA Investments & Retirement Accounts	Continue as usual

💡 To maintain membership benefits, consider keeping at least one account open with USAA, such as checking, credit, or insurance products.

💭 Comment: “How do I transfer my remaining balance before closing my USAA savings account?”

🔄 Transferring your remaining funds before closing is crucial to ensure you don’t lose access to your money.

📊 Best Ways to Transfer Your USAA Savings Account Balance Before Closure:

Transfer Method 🔄	Processing Time ⏳	Best Use Case ✅
Internal Transfer (to USAA Checking)	Instant	Moving funds within USAA before closing savings.
ACH Transfer (to External Bank Account)	1-3 business days	Sending money to another financial institution.
Wire Transfer	Same day (if requested before cut-off)	Fastest option for large transfers ($1,000+).
Request a Paper Check	5-10 business days	If you prefer a mailed check instead of a digital transfer.

💡 To avoid delays, initiate the transfer at least 24 hours before requesting account closure.

💭 Comment: “Can I close a USAA savings account if I’m currently overseas?”

✈️ Yes! USAA allows members stationed overseas or traveling internationally to close their accounts via phone or online chat.

📊 Best Ways to Close a USAA Savings Account from Overseas:

Closure Method 📞💻	How It Works ✅	Best For 🌍
Calling USAA International Hotline	Dial 1-210-531-USAA (8722) (collect calls accepted).	Military personnel, expatriates, long-term travelers.
Online Live Chat	Log into USAA and chat with a representative.	Those in different time zones who prefer written communication.
Secure Message Center (Email Alternative)	Send a closure request through USAA’s secure messaging portal.	If calling isn’t an option and immediate closure isn’t needed.

💡 If traveling, ensure your contact details are updated with USAA to receive closure confirmation via email or mail.

💭 Comment: “Does closing a savings account affect my USAA insurance policies?”

🛡️ No, closing a savings account does not impact your USAA insurance policies, but any payments linked to that account must be updated.

📊 What to Check If You Have USAA Insurance and Want to Close Your Savings Account:

USAA Insurance Type 🏠🚗	What You Need to Do Before Closing Savings Account ✅
Auto Insurance	Update payment method to another USAA account or credit card.
Homeowners or Renters Insurance	Ensure premium payments are linked to a different account.
Life Insurance	Double-check that automatic drafts are updated.
Umbrella or Other Insurance Policies	Confirm billing is set to an active payment source.

💡 Avoid disruptions in coverage by verifying payment details before closing your savings account.

💭 Comment: “Can I close a savings account if it’s linked to a joint account holder?”

👥 Yes, but all joint account holders must agree to the closure before USAA can process the request.

📊 How to Close a Joint USAA Savings Account:

Step 🛠️	Action Required ✅
1️⃣ Both Owners Must Consent	All listed account holders need to authorize closure.
2️⃣ Withdraw or Transfer Funds	Joint owners must decide how to split remaining funds.
3️⃣ Remove Automatic Deposits & Payments	Ensure no active transactions are tied to the account.
4️⃣ Call or Chat with USAA	Joint account holders can request closure together via phone or online.
5️⃣ Receive Confirmation	USAA will provide a closure notice once complete.

💡 If one account holder cannot be reached, USAA may require additional verification before closing the account.

💭 Comment: “What happens if I forget to close my USAA savings account and it has a zero balance?”

⚠️ USAA may automatically close an inactive savings account if it has a zero balance for an extended period.

📊 What Happens to an Inactive USAA Savings Account:

Inactivity Period ⏳	USAA Action Taken 🏦
3-6 months	Account remains open but flagged as inactive.
6-12 months	USAA may notify you about inactivity.
12+ months	Account may be closed automatically.
Years of Inactivity (Unclaimed Funds)	Funds could be transferred to state unclaimed property offices.

💡 If you intend to keep the account but don’t use it often, make a small deposit once a year to maintain activity.

💭 Comment: “Can I close my USAA savings account if I have a pending fraud claim?”

🚔 No, USAA will not allow account closure if there is an active fraud claim or investigation on the account.

📊 Steps to Take If You Have a Pending Fraud Claim and Want to Close Your Account:

Step 🛠️	What to Do ✅
1️⃣ Contact USAA Fraud Department	Call 800-531-8722 and request an update on the investigation.
2️⃣ Resolve Unauthorized Transactions	Ensure all disputed charges are credited back before closing.
3️⃣ Transfer Remaining Balance	Once fraud is resolved, move funds to another account.
4️⃣ Request Account Closure	USAA will process the request after clearing any security concerns.

💡 To avoid delays, follow up regularly with USAA until the fraud case is resolved before requesting account closure.

💭 Comment: “Can I close my USAA savings account online without calling?”

🖥️ Yes, but only through USAA’s online live chat or secure messaging system. There is no direct ‘Close Account’ button available in online banking.

📊 How to Close a USAA Savings Account Online Without Calling:

Method 💻	Steps to Follow ✅	Response Time ⏳
Live Chat	Log into usaa.com → Navigate to Help → Select Chat with an Agent → Request account closure.	10-30 minutes
Secure Messaging	Log into your USAA online account → Go to Message Center → Submit a request for closure with account details.	1-2 business days

💡 Live chat is the fastest online option, but calling remains the quickest overall. If you choose secure messaging, monitor your inbox for follow-up questions.

💭 Comment: “What happens if I forget to close my savings account before switching banks?”

⚠️ If you switch banks and leave your USAA savings account open, it may remain active indefinitely unless it has a zero balance for an extended period.

📊 What Happens If You Forget to Close Your USAA Savings Account:

Scenario 🔎	Possible Outcome ❌	How to Fix It ✅
Account Has Funds Left in It	Stays open, and interest may continue accruing.	Log in and transfer funds, then request closure.
Linked to Direct Deposits or Bill Payments	Deposits/payments may continue to process.	Update payment details with your new bank.
Zero Balance but Not Closed	USAA may flag it as inactive but keep it open.	Contact USAA to formally close it.
Prolonged Inactivity (Years)	Account could be closed and funds sent to state unclaimed property.	Check your state’s unclaimed property website.

💡 To prevent issues, always double-check that all recurring transactions are moved to your new bank before closing your USAA savings account.

💭 Comment: “Can I close my USAA savings account the same day I open a new one?”

✅ Yes! You can close an old USAA savings account on the same day you open a new one, but make sure your funds are transferred properly first.

📊 Steps to Switch to a New USAA Savings Account on the Same Day:

Step 🛠️	Action to Take ✅
1️⃣ Open a New USAA Savings Account	Log into usaa.com or use the mobile app to create a new savings account.
2️⃣ Transfer Remaining Funds	Move any money from the old savings account to the new one.
3️⃣ Check for Pending Transactions	Ensure no automatic payments or deposits are linked to the old account.
4️⃣ Call or Chat with USAA to Close the Old Account	Request account closure through customer service.
5️⃣ Confirm Closure	Ask for written confirmation via email or secure message.

💡 Switching to a new USAA savings account is seamless as long as your funds and recurring transactions are correctly transferred beforehand.

💭 Comment: “If I close my savings account, will it affect my USAA rewards or cash-back bonuses?”

💳 No, closing your USAA savings account does not affect your credit card rewards, cash-back bonuses, or loyalty perks. However, ensure any linked deposits for rewards programs are updated.

📊 How Closing a USAA Savings Account Affects Rewards & Bonuses:

USAA Product 💳	Impact After Savings Account Closure ✅
USAA Credit Card Rewards	✅ No impact—rewards remain intact.
USAA Cashback Checking Perks	❌ May be affected if savings account was linked for extra benefits.
USAA Member Loyalty Discounts (Insurance, Loans, etc.)	✅ No effect—membership status remains unchanged.
USAA Investments Linked to Savings Deposits	❌ Update funding source to prevent issues.

💡 If your savings account was used for a rewards-qualifying deposit, update it to another USAA checking or savings account before closure to retain benefits.

💭 Comment: “How do I make sure my final interest is credited before closing my USAA savings account?”

💰 USAA credits interest monthly, so if you close your savings account before the next cycle, you may lose that month’s interest earnings.

📊 How to Ensure You Receive Your Final Interest Payment:

Timing 📅	What to Do ✅
Before Monthly Interest Posting Date	Wait until the interest is posted before requesting closure.
Day of Closure Request	Ask the representative to confirm interest has been applied.
After Account Closure	If you missed interest, call USAA to request a mailed check for the remaining amount.

💡 For those with high balances, waiting until after interest is credited ensures you don’t lose out on additional earnings.

💭 Comment: “Can USAA close my savings account without my permission?”

⚠️ Yes, USAA has the right to close your savings account under certain conditions, such as inactivity, suspected fraud, or policy violations.

📊 Reasons USAA May Close Your Savings Account Without Notice:

Reason ❌	What Happens ⚠️	How to Prevent It ✅
Prolonged Inactivity (No Transactions for 12+ Months)	Account may be flagged as dormant and eventually closed.	Make at least one deposit or withdrawal annually.
Negative Balance for an Extended Period	USAA may close the account and attempt to recover the owed amount.	Avoid overdrafts and keep a positive balance.
Suspicious Activity or Policy Violations	Account closure may be immediate if fraud is suspected.	Keep transactions legitimate and report any unauthorized activity.
Failure to Update Account Holder Information	If USAA cannot verify your identity, they may close the account.	Keep your address and contact details up to date.

💡 If USAA unexpectedly closes your savings account, contact customer service immediately to clarify the reason and retrieve any remaining funds.

💭 Comment: “Can I still receive my tax refund if my USAA savings account is closed?”

📝 No, if the IRS attempts to deposit a tax refund into a closed USAA savings account, the funds will be rejected and returned to the IRS.

📊 What Happens to Your Tax Refund if Your USAA Savings Account is Closed:

Scenario 🔍	What Happens to the Refund? ❌	How to Fix It ✅
Account Closed Before Refund Is Processed	The IRS will return the funds and issue a paper check.	Update your direct deposit details with the IRS.
IRS Sent Refund to Closed USAA Account	USAA will reject the deposit, delaying your refund.	Check IRS “Where’s My Refund” tool for the status.
Refund Sent to an Old Account Listed on Last Year’s Return	The IRS uses the last known account, even if closed.	File an amended return or call the IRS to update info.

💡 Always verify your direct deposit details before tax season to avoid refund delays caused by closed accounts.