Anyone have any experience with this? I really want to close my Chase savings account (because the .01% interest makes me laugh and I already transferred most of my savings to Barclays for their 1% interest); I still have some money in it (about $900 because I can't remember the exact minimum I need to avoid the monthly fee and the paperwork for signing up is buried somewhere at my parents' house) but I'm done. I still love Chase for checkings and Freedom but I've moved on to greener pastures. I figure going into the branch and doing it there would be best? I'm such a wimp though and I tend to freak out easily so I was wondering if anyone had any stories about closing savings (or any account really).
Quicksilver $10,000 | Better Balance Rewards $2000 | Sallie Mae $3500 | Freedom $3500
Thanks for your reply! I'm going to stop by a branch after work sometime this week and do it.
@Callandra wrote:Thanks for your reply! I'm going to stop by a branch after work sometime this week and do it.
do you have enough for min required in your checking account that is what i would do and just close out the savings account. .01% to me is basically no interest at all. I closed out my accounts from big brick and mortar banks quite an while ago so i don't remember what the min required was.
I , like you, transferred my savings to one of the high yield options.Its laughable the interest that chase, WF, Citi, and BOA offer.
@mongstradamus wrote:
@Callandra wrote:Thanks for your reply! I'm going to stop by a branch after work sometime this week and do it.
do you have enough for min required in your checking account that is what i would do and just close out the savings account. .01% to me is basically no interest at all. I closed out my accounts from big brick and mortar banks quite an while ago so i don't remember what the min required was.
I , like you, transferred my savings to one of the high yield options.Its laughable the interest that chase, WF, Citi, and BOA offer.
I have more than enough for the min. in my checkings (I have no intention of closing my Chase checkings, it's really convenient); I just want to get the last $900 out of my savings and get rid of it. I'm going to stop by a branch tomorrow after work.
I agree that the "big box" rates on savings are a joke...I've had my savings at Chase for over 2 years and have barely earned anything! I have a feeling my Barclays savings will treat me much better. 
@Callandra wrote:
@mongstradamus wrote:
@Callandra wrote:Thanks for your reply! I'm going to stop by a branch after work sometime this week and do it.
do you have enough for min required in your checking account that is what i would do and just close out the savings account. .01% to me is basically no interest at all. I closed out my accounts from big brick and mortar banks quite an while ago so i don't remember what the min required was.
I , like you, transferred my savings to one of the high yield options.Its laughable the interest that chase, WF, Citi, and BOA offer.
I have more than enough for the min. in my checkings (I have no intention of closing my Chase checkings, it's really convenient); I just want to get the last $900 out of my savings and get rid of it. I'm going to stop by a branch tomorrow after work.
I agree that the "big box" rates on savings are a joke...I've had my savings at Chase for over 2 years and have barely earned anything! I have a feeling my Barclays savings will treat me much better.
sorry if i wasn't clear i would just keep money in your checking account with chase if you want to stay with them, as far as savings, i would use barclay , sychrony, or ally.. For your your emergency savings.
For me i am using an combination of ally and my credit union that both offer rates on savings over .85 % not the greatest but an lot better than what WF used to offer me. I have enough there to cover my emergency savings everything else goes into my iRA :-)
Thanks everyone for the replies! UPDATE: I went to a Chase branch today and closed my Savings account. It was really easy -- the banker did it in about 5 minutes and even transferred what was left in my savings to my checkings account. He did not give me a hard time at all (that's what I was worried about) and he was really nice.