How to Delete a Merrill Edge Account in 2026

How to Close a Merrill Edge Account

If you have a Merrill Edge brokerage account you no longer need, closing it can be a smart move because it helps reduce the chance of unauthorized access. Here’s how to handle it:

First, Remove All Securities

For self-directed accounts, the first thing to do is get all investments out of the account. This step is easy enough, but keep in mind that selling positions (or buying to close short positions) may create tax consequences. Speaking with a CPA first can be a good idea.

You can also move holdings in a self-directed account to another brokerage through an ACATS transfer. A partial transfer will move only the assets you choose and leave other items, such as cash, behind. The receiving broker is the firm that starts the transfer.

Next, Zero Out the Account

Once only cash remains, log in to the website and place your cursor over the Accounts tab in the top menu. In the drop-down menu, select Transfer Money & Securities.

You’ll then arrive at Merrill Edge’s transfer page. It can be used to move cash out of an account, but not securities. (The securities transfer tool is for bringing securities into a Merrill Edge account.)

To move the cash, choose the cash tab. This is the ACH transfer tool, and it is very simple to use. In the From field, pick the Merrill Edge account, making sure you choose the right one if you have multiple accounts.

In the To field, choose the bank account that will receive the money. If you have not linked one yet, you can add it at this point by clicking “Add a new account.” Merrill Edge does not use Plaid, so you will need the bank’s routing number and account number. The receiving account must be either a checking or savings account.

After that, enter the amount to transfer (which should be the full cash balance in this case) and choose the frequency. This should be set as a one-time transfer.

After sending the transfer request, you will see a Review Transfers tab on the same page. Click it to review the request and monitor its status.

You can also take cash out by wire transfer, although that option cannot be completed online, so the ACH tool is usually the easier route.

Broker Promotions

If you are transferring your Merrill Edge account to another brokerage firm, it is a good idea to see whether the new broker has any offers for opening an account.

Finally, Request a Merrill Edge Account Closure

Once the self-directed account shows a $0.00 balance, the last step is simply to contact Merrill and request that the account be closed. You can call the firm at 877.653.4732. You can also mail a request to:

Merrill Edge
PO Box 14354
Lexington, KY 40512-4353

Alternative Way to Cancel a Merrill Edge Account

Using the same transfer form on the Merrill Edge website, you can also move both cash and investments from one Merrill Edge account to another. After everything has been transferred into the destination account, contact Merrill through one of the methods above and ask that the old account be closed.

Closing a Merrill Edge Advisory Account

Up to this point, we’ve only discussed self-directed accounts. To close an advisory account at Merrill Edge, you can submit a request online or call the advisory department at 877.444.0916. If you end the advisory program online, the account will switch to a self-directed account. You can then use the steps above to close it, although calling and requesting closure is usually the simpler option.

It takes at least 5 business days to process a request to close an advisory account. Cash cannot be withdrawn during that period.

Second Alternative Way to Delete a Merrill Edge Account

Rather than going through the entire process of closing a Merrill Edge self-directed or managed account, you can submit a full ACATS transfer to another brokerage firm. A full outgoing ACATS transfer will move everything in the account to the new broker and automatically close the Merrill Edge account.

Merrill Edge Transfer and Closeout Fees

Closing an Individual Retirement Account at Merrill Edge uses the same process outlined above. IRAs have a $49.95 closeout fee.

Full outgoing transfers of taxable accounts also cost $49.95 at Merrill Edge. The firm does not charge this fee for internal transfers. If you transfer your account to Charles Schwab, they may reimburse this transfer fee.

Updated on 4/22/2026.

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