Open or Close an Account
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Ready to open a new account or close your old one? Here's how to do it.
No matter the account type, you likely need some combination of the following:
- A valid government-issued photo ID
- Personal data, like your birthdate, social security number, and phone number
- An initial deposit
- (For joint accounts) Identification and personal data for all parties on the account
- (For minors) An account co-owner, typically a parent or legal guardian
International Students: The Assembly of International Students (AIS) suggests bringing your passport, PennCard, I-20, and Penn acceptance letter with you to open an account.
You may need to close a bank account for a variety of reasons, whether you’re unsatisfied with your current account or moving to a place without access to your bank. If you need to close your accounts, be sure to take the following steps:
- Ask what your options are for receiving your remaining balance. This may involve transferring to another account or receiving a cashier’s check.
- Find out if there are any fees associated with closing your account or transferring your balances to a new bank.
- Update direct deposit information with your school or employer.
- You can do this on Penn.Pay (student account refunds) and Workday (payroll).
- Cancel any automatic bill payments or recurring transfers linked to your account.
- Destroy leftover blank checks from your old account.
- Obtain a written statement from your old bank, indicating that your account is closed and any terms associated with that closure.