Can I close my bank account online in Canada?

It depends on the bank. Online banks like Tangerine, Simplii, and EQ Bank typically allow you to close your account by phone or secure message, since they have no physical branches. Most major physical banks (RBC, TD, BMO, Scotiabank, CIBC) require an in-branch visit to close an account, though some allow the process to be started by phone. Check your specific bank's policy before assuming online or phone closure is available.

Can I close a TD, RBC, BMO, or Scotiabank account online?

The major Canadian banks generally require an in-branch visit to close a personal chequing or savings account. You may be able to initiate the request by phone (to confirm steps, stop pre-authorized payments, or get a zero balance), but the final closure and any remaining balance distribution typically requires visiting a branch with photo ID. Check your bank's current online banking options — policies have evolved and some banks now offer more remote options.

What do I need to close a bank account in Canada?

To close a bank account in Canada you will typically need: government-issued photo ID (driver's licence or passport), your account number, a zero or near-zero balance (or a way to receive the final balance — cash, cheque, or transfer to another account), and in some cases, any debit card or chequebook associated with the account. For joint accounts, both account holders may be required to authorize closure.

How long does it take to close a bank account in Canada?

Closing a bank account at a branch typically takes 15–30 minutes. The account is usually closed the same day (or within 1–3 business days for administrative processing). Online or phone closures at digital banks can take 1–5 business days. Ensure all pre-authorized payments and direct deposits are redirected before closing to avoid complications.

Can a bank refuse to close my account in Canada?

Banks can decline to close your account if there is a negative balance, an outstanding loan or overdraft linked to it, or an active dispute or legal hold. They cannot simply refuse closure of an account in good standing. Under the Bank Act, a bank must allow you to close your account, though they may require you to visit in person. If you are having difficulty, escalate to the bank's ombudsman or contact the Financial Consumer Agency of Canada (FCAC).

Can You Close a Bank Account Online in Canada? Bank-by-Bank Guide

Whether you can close a bank account online or by phone in Canada depends primarily on which bank holds your account. Online banks have always handled account closure remotely, while traditional branch-based banks have historically required an in-person visit. That said, some policies have become more flexible.

Online Banks: Remote Closure Available

Online banks in Canada have no physical branches, so they have always offered remote account closure:

Tangerine

Close by phone or by sending a secure message through online banking.

Phone: 1-888-826-4374 Process: Call and request account closure. A representative will walk you through zeroing the balance, receiving any remaining funds, and confirming closure.

Simplii Financial

Close by phone.

Phone: 1-888-723-8881 Process: Call and request closure; your remaining balance can be transferred to a linked account or sent by cheque.

EQ Bank

Close by contacting EQ Bank customer service through the app or by phone.

Phone: 1-844-437-2265 Process: Contact support, arrange to transfer any remaining balance, and confirm closure.

KOHO

Close through the app or by contacting KOHO support.

Process: Transfer or withdraw your remaining balance, then contact support through the in-app chat or email to initiate closure.

Wealthsimple Cash

Close through the app. Navigate to account settings and follow the closure prompts, or contact Wealthsimple support.

Traditional Banks: Branch Visit Usually Required

The Big 5 and National Bank generally require a branch visit to close a personal account. Here is their current approach as of 2026:

RBC

Generally requires in-person branch visit for account closure.

You can call 1-800-769-2511 to confirm steps, but the final closure with disbursement of remaining funds typically requires attending a branch with photo ID.

Tip: Some RBC accounts can now be closed through the online banking “Account Settings” → “Close Account” option — this appears to be available for accounts with no pre-authorized payments and a zero balance. Try logging in and checking if this option is available for your account.

TD

Generally requires an in-person visit. Call 1-866-222-3456 to ask about current options.

For TD accounts, the practical steps are:

Zero out the account (transfer funds out or withdraw)
Ensure all pre-authorized payments and direct deposits are moved
Visit a branch with your TD bank card and photo ID
Request account closure in person

BMO

In-person closure at a branch is the standard process. Phone: 1-877-225-5266.

Scotiabank

Typically requires a branch visit for full closure. Initiate by calling 1-800-472-6842.

CIBC

Typically requires a branch visit. Phone: 1-800-465-2422. However, CIBC has been expanding digital services — check your CIBC online banking under account settings for any available closure option.

National Bank

Branch visit required for account closure. Phone: 1-888-835-6281 to confirm documentation needed.

Steps to Prepare Before Closing Any Bank Account

Regardless of whether you close in person, by phone, or online, take these steps first:

1. Redirect direct deposit

Contact your employer, the CRA, and any other direct deposit sources with your new bank account information. CRA updates typically take 5 business days. Do this at least 2 pay cycles before closing your account.

2. Cancel or transfer pre-authorized payments

Make a list of all pre-authorized debits linked to your account (utilities, insurance, subscriptions, mortgage) and update each one with your new bank account information. Missing one can result in a failed payment and NSF fees at your new bank.

3. Zero out the balance

Transfer any remaining funds to your new account. If the transfer leaves a tiny remaining balance (due to interest accrual after the transfer), you can typically withdraw the remainder as cash at the branch when closing, or ask the bank to issue a cheque for the remaining amount.

4. Destroy your debit card and unused cheques

Once the account is closed, destroy your debit card and any remaining personal cheques so they cannot be used or misused.

Closing an Account with a Negative Balance

You cannot close an account with a negative balance (overdraft). You must first repay the overdrawn amount, including any applicable interest and fees. The bank will not close the account and issue a final statement until the balance is cleared.

What Happens After Closure

Once the account is closed:

You receive a confirmation of closure (usually in writing or by email)
The account number is deactivated
Any cheques or payments that arrive after closure will be returned to the sender
You can usually receive a final statement showing the closure date and zero balance

Keep the confirmation of closure for your records in case any disputes arise later about payments sent to the closed account.