How do I close an M1 account?  | M1 Help Center (2024)

FAQs

How do I close an M1 account?  | M1 Help Center? ›

Before you can request to close an M1 High-Yield Savings Account, you will need to withdraw any remaining funds. Once your High-Yield Savings Account's value is $0, you can request to have it closed. If you're chatting while logged in, simply type "close account" in our Messenger and answer the prompts that follow.

Unless you are bound by a contractual minimum term in the Agreement, you may terminate the Services by calling our Customer Service Hotline 1627 or 1622 (for corporate customers), or such other numbers as we may notify, by faxing or writing to us and giving us one (1) day's prior notice.

You can liquidate an account by initiating an outgoing withdrawal for an amount slightly higher than the current value of your M1 Investment Account to prevent funds remaining due to market fluctuations. A liquidation confirmation and acknowledgment screen will appear.

All M1 Plus memberships are automatically set to auto-renewal at the Renewal Date. You must click “Turn off auto-renewal” inside the M1 platform's Billing section to cancel the automatic renewal of Your M1 Plus membership.

Early termination charge equivalent to 1 month's subscription is applicable for termination during the commitment period.

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M1 / Customer service

How do I close my account? Please call or chat with One Customer Service for help canceling your One account. Chat is available 24/7 from your Profile page in the One app, or we can be reached at +1 (855) 830-6200 from 9 a.m. to 9 p.m. ET, 7 days a week.

The easiest might be to Google the name of the service, followed by "delete account". Countless how-tos will pop up that you can follow. Sites like JustDelete.me contain a cache of deletion instructions for various accounts, and contacting customer support – via chat or even phone – is always an option.

For certain investors, these M1 disadvantages could rule out the platform. M1 has limited investment options. The platform lacks individual bonds, mutual funds, and options trading. There are 8,000 stocks on the NYSE and over 3,000 ETFs and M1 offers access to 6,000 stocks and ETFs.

How do I disconnect my bank from M1? ›

Yes. M1 Finance is a member firm broker with the Financial Industry Regulatory Authority (FINRA), and investments on the platform are covered through SIPC for up to $500,000 in cash and securities, including up to $250,000 in cash. M1 Finance has a Better Business Bureau rating of C+ as of Jan.

With M1, there are no annual fees or partial transfer fees. However, there is a $100 fee per outgoing transfer and a $100 individual retirement account termination fee.

The end result is that aggregate transaction deposits are restored to their prior level. Other things equal, M1 increases due to withdrawal of currency from banks when the Fed acts to maintain control of the short-term interest rate, its normal monetary policy response.

Closing an Owner's Rewards Card by M1

To close your Owner's Rewards Card by M1 account, please reach out to the Owner's Rewards Card by M1 team, at (833) 978-3351. They are available Monday-Friday between 8 am-8 pm CT and Saturday between 9 am-2 pm CT. We're sad to see you go!

4.2 M1 reserves the right at its sole and absolute discretion to decline any order for Services. 4.4 For M1 Maxx, you may terminate our service(s) by (a) calling our Customer Service Hotline 1693 (Daily 9am-9pm). No refund will be given.