How do I Close my Charles Schwab account?

There are primarily two ways to close your account with Charles Schwab. You can either transfer to another brokerage, or you can delete your account outright. The main benefit of transferring is that it’s usually easier, and your new broker will usually pay the closing fee on your behalf.

How do I Close an investment account at Schwab?

The first way an investment account at Schwab can be closed is by transferring the account to a second brokerage firm through the ACAT (Automated Customer Account Transfer) network, which will automatically close the account at Schwab. A bank account cannot be closed this way, so only a securities account is eligible for this method.

Can I Close a Schwab account without closing a brokerage account?

A checking account at Schwab must always be linked to a brokerage account, which means closing a connected brokerage account will automatically close the checking account. It’s possible to close the linked bank account without closing the investment account.