You can close a Bank of America savings account in person, by phone, or online, but the method you choose affects how quickly it happens and what paperwork you need
Bank of America lets you close a savings account through three routes: visiting a branch in person, calling their customer service line, or using their online banking platform. The in-person method is fastest and leaves the clearest record. Phone closure takes one to two business days. Online closure works only if your account has a zero balance and no pending transactions—if it doesn't, you'll need to use one of the other methods first.
Before you close, withdraw or transfer any remaining balance, check for pending deposits or automatic payments, and make sure you have your account number and government-issued ID ready. Bank of America will not charge you a fee to close the account, but they may hold funds for a few business days if you're closing multiple accounts at once.
Key Takeaways
- Closing in person at a Bank of America branch is the fastest method and creates an immediate paper record of the closure.
- You must have a zero balance in the account before closing it, so transfer or withdraw all remaining money first.
- Phone closure through Bank of America's customer service line takes one to two business days to process.
- Online closure through the mobile app or website only works if there are no pending transactions and the balance is zero.
- Bank of America does not charge a fee to close a savings account, but you should confirm the closure in writing for your records.
Closing Your Account in Person at a Branch
Walking into a Bank of America branch and closing the account at the teller window is the most straightforward method. Bring your government-issued ID and your debit card or account number. Tell the teller you want to close your savings account. They will verify your identity, confirm the account balance, and process the closure on the spot.
If your account has a balance, the teller will ask how you want the funds—as a check, a transfer to another account, or cash. If you choose cash, they may limit the amount depending on branch policy. If you choose a check, it will be issued immediately but may take a few days to clear. If you choose a transfer to another bank account, provide the routing number and account number, and the transfer typically completes within one to three business days.
Ask the teller for written confirmation of the closure. This receipt shows the date, your account number, and the final balance. Keep it for your records in case Bank of America sends you mail about the account afterward or if you need proof of closure for another reason.
Closing Your Account by Phone
Call Bank of America's customer service line at 1-800-432-1000 to close your savings account by phone. Have your account number and a government-issued ID ready—the representative will ask you to verify your identity by providing your Social Security number or other personal information. Tell them you want to close your savings account.
The representative will confirm your current balance and ask how you want the funds distributed. You can request a check mailed to your address on file, a transfer to another bank account, or a transfer to another Bank of America account you own. Phone closures typically take one to two business days to process after the call ends.
Ask the representative for a confirmation number and write it down immediately. Request that they email or mail you written confirmation of the closure. This protects you if the account is not actually closed or if Bank of America later claims it was still open.
Closing Your Account Online or Through the Mobile App
Bank of America's online banking platform and mobile app allow you to close a savings account, but only under specific conditions: the account balance must be exactly zero, and there can be no pending transactions, automatic payments, or scheduled transfers. If your account meets these requirements, log into your Bank of America account online or open the mobile app.
Navigate to the account settings or account details section for the savings account you want to close. Look for an option labeled "Close Account" or "Account Services." Follow the prompts to confirm your identity and request closure. The system will ask you to confirm that you understand the account will be closed and that you have transferred or withdrawn all funds.
Online closure typically processes within one to two business days. You will receive an email confirmation. If the system will not let you close the account online, it means there is still a balance, a pending transaction, or an active automatic payment tied to it. In that case, use the phone or in-person method instead.
What to Do Before You Close
Empty the account completely before attempting to close it. Log into your Bank of America account and check the current balance. If there is money in the account, transfer it to another Bank of America account you own, transfer it to an external bank account, or withdraw it as cash or a check. Some banks hold funds for a few business days after a transfer, so plan accordingly if you need the money quickly.
Check for any automatic payments or recurring transfers linked to the savings account. If you have set up automatic bill payments, direct deposit, or transfers from this account, those will fail once the account closes. Update those payments to pull from a different account at least one week before you close. Log into each service (your employer's payroll system, utility companies, subscription services) and change the linked account.
Review your recent statements for any pending transactions. If you wrote a check from this account or initiated a transfer that has not cleared yet, wait for it to post before closing. Closing an account with pending transactions can cause those transactions to fail or bounce.
What Happens After You Close
Once your account is closed, Bank of America will stop charging any monthly maintenance fees. You will no longer receive statements for that account. If you have online banking set up, the closed account will disappear from your account list within a few business days, though you may still see it in your transaction history for record-keeping purposes.
If you receive mail from Bank of America about the closed account after closure, do not ignore it. Open it and verify that it is just a final statement or confirmation. If it is a notice of overdraft fees or other charges, contact Bank of America immediately to dispute them—you should not owe fees on a closed account.
Keep your closure confirmation for at least one year. If Bank of America later claims the account was still open or tries to charge you fees, you will have proof of the closure date.
Frequently Asked Questions
Can I reopen a Bank of America savings account after I close it?
Yes. You can open a new savings account at any time by visiting a branch, calling customer service, or using the online banking platform. However, if your account was closed due to fraud or repeated overdrafts, Bank of America may deny the new account. If you closed it voluntarily, there is no restriction on reopening.
What if my account has a negative balance when I try to close it?
You cannot close an account with a negative balance. You must deposit enough money to bring the balance to zero, or pay the overdraft amount. Once the balance is zero, you can proceed with closure. If you do not pay the overdraft, Bank of America will continue charging fees and may send the debt to a collection agency.
Will closing my savings account affect my credit score?
No. Closing a savings account does not appear on your credit report and does not affect your credit score. Credit scores are based on credit accounts like credit cards and loans, not deposit accounts. Closing a savings account is a routine banking action with no credit impact.
How long does it take to receive funds after I close my account?
If you request a check, it will be mailed to your address on file and typically arrives within five to seven business days. If you request a transfer to another bank account, it usually takes one to three business days. If you withdraw cash in person, you receive it immediately.
Do I need to close my account in the same state where I opened it?
No. You can close your account at any Bank of America branch, regardless of which state or branch originally opened it. You can also close it by phone or online from anywhere. Your location does not matter.