Skip to main content

I closed my interest-bearing account, but the bank/credit union did not pay me interest up until the day I withdrew the money. Why?

If you closed the account before the bank or credit union credited the interest, generally the bank or credit union won’t pay that interest. This is known as “forfeiture of interest.” 

However, the bank or credit union must disclose this policy in the account agreement you received when you opened the account. To find out your bank or credit union's policy, review your account agreement or ask your bank or credit union.

Was this answer helpful to you?

Please do not share any personally identifiable information (PII), including, but not limited to: your name, address, phone number, email address, Social Security number, account information, or any other information of a sensitive nature.