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If you’d like to close your Karat Banking account or Karat Card, our team will help guide you through the process. Account closures are not self-serve at this time. To begin, contact Karat Concierge at: concierge@trykarat.com or text (323) 747-7086.

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Before requesting closure

To avoid delays, please complete the steps below before reaching out.

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1. Pay off any outstanding credit balance (if applicable)

If you have a Karat Card with an outstanding balance, you must pay it in full before your account can be closed. Go to Credit Card > Make a payment , submit your final payment, and wait for it to fully settle. Accounts with open balances cannot be closed by the user.

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2. Transfer out remaining Banking funds

If you have funds in your Checking or Tax ATP account, transfer them to another financial institution before requesting closure. You may transfer funds via ACH or wire. Keep in mind that transfers may take several business days to settle depending on the method used. Your total balance must be $0.00 before we can close your Banking account. If an account is closed with a remaining positive balance, funds may be returned via mailed check to the address on file.

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3. Ensure all transactions are settled

All pending incoming and outgoing transactions must be fully processed. This includes:
  • Card transactions
  • ACH transfers
  • Wires
  • Recurring transfers
Incoming payments sent after your account is closed may be rejected or returned.

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4. Redeem any remaining rewards (Karat Card)

If you have unused credit card rewards, redeem them before requesting closure. Rewards points cannot be redeemed for cash outside of the platform and cannot be wired or transferred after account closure. Once your account is closed, any unused rewards will be forfeited.

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5. Update recurring payments and subscriptions

If you use your Banking Card or Karat Card for recurring expenses, update your payment details with vendors before closing your account to avoid failed transactions.

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Who can request closure

An account owner or authorized beneficial owner must request the closure. For security purposes, we may ask to verify your identity before proceeding. Only one listed owner is required to authorize closure, but you should notify any other owners before initiating the request.

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What happens after closure

After your account is closed:
  • You will no longer be able to send or receive payments
  • Cards will be permanently deactivated
  • Credit lines (if applicable) will be terminated
  • Access to the dashboard may be restricted
We recommend downloading any statements or reports you may need for your records before closure. Karat is a financial technology company, not a bank. Banking services provided by Grasshopper Bank, N.A., Member FDIC. The Karat Visa® Business Credit Card is issued by Cross River Bank, Member FDIC, and pursuant to a license from Visa️ USA.