You can close a Bank of America savings account by phone, in person, or online, but the method depends on your account balance and whether you have linked accounts
Bank of America lets you close a savings account in three ways: by calling their customer service line, visiting a branch in person, or using their online banking platform. The fastest route is usually a phone call to the number on the back of your debit card or on your statement. Before you close, you need to bring your account balance to zero — either by withdrawing the money or transferring it elsewhere — and settle any outstanding fees or holds.
The process itself takes minutes, but the account may take a few business days to fully close in their system. If you have a linked checking account or other products tied to this savings account, closing one may affect the others, so it's worth understanding what you have connected before you start.
Key Takeaways
- Your savings account balance must be zero before Bank of America will close the account, so withdraw or transfer all remaining money first.
- You can close the account by phone, in a branch, or online through your Bank of America login, and the method you choose depends on what's easiest for you.
- If you have overdraft protection or other accounts linked to this savings account, closing it may change how those protections work.
- The account closure takes effect immediately, but it may take several business days for the account to disappear from your online banking view.
Closing your account by phone
Call the customer service number on the back of your Bank of America debit card or on your most recent statement. Have your account number and Social Security number ready. Tell the representative you want to close your savings account, and they will confirm your identity and walk you through the steps.
The representative will verify that your account balance is zero. If there is money still in the account, they can help you transfer it to another account or arrange a check. They will also confirm there are no pending transactions or holds. Once everything is clear, they will process the closure, and you will receive a confirmation number. Keep this number for your records.
Closing your account in person at a branch
Visit any Bank of America branch with a valid photo ID and your account number or debit card. Tell a teller you want to close your savings account. They will pull up your account, confirm your balance is zero, and process the closure on the spot. This method is useful if you prefer to handle it face-to-face or if you need to withdraw cash from the account before closing it.
Bring any outstanding checks or pending transactions to the teller's attention. If your account has a balance, the teller can help you withdraw it or transfer it to another account before closing. The closure is immediate, and you will receive a receipt confirming it.
Closing your account online
Log into your Bank of America online banking account and navigate to the account settings or account management section. Look for an option labeled "Close Account" or "Account Services." Not all accounts can be closed online — if the option does not appear, you will need to use the phone or branch method instead.
If the online closure option is available, the system will confirm your account balance is zero and walk you through a series of screens to complete the request. You will receive a confirmation number on screen and via email. Some closures initiated online may require a follow-up call to Bank of America to finalize, so watch for any messages in your online banking inbox.
What happens to linked accounts and overdraft protection
If you have set up overdraft protection on your checking account that draws from this savings account, closing the savings account will remove that protection. Your checking account will no longer have a backup source of funds if you overdraw. Contact Bank of America before closing to understand how this affects your checking account.
If you have multiple savings accounts or a savings account linked to a money market account, closing one does not automatically close the others. However, if you have automatic transfers set up between accounts, those transfers will stop once the account is closed. Review your account settings before closing to make sure you are not relying on any automatic movements of money.
What to do with your money before closing
You must have a zero balance before Bank of America will close the account. If you have money in the savings account, you have two options: withdraw it in cash or transfer it to another account. If you are closing because you want to move your money to a different bank, transfer it to that bank's account before initiating the closure. If you are closing because you no longer need the account, withdraw the cash or move it to your Bank of America checking account.
If there are any outstanding fees or charges on the account, Bank of America will deduct those from your balance before the account closes. Make sure you know what your current balance is and whether any pending transactions or fees are waiting to post. You can check this in your online banking account or by calling customer service.
After your account is closed
Once the account is closed, you will no longer be able to deposit money into it or access it through online banking. The account may remain visible in your account history for a period of time, but you will not be able to use it. If you receive a check or transfer intended for that account after it closes, the money will be returned to the sender or held by Bank of America, depending on the circumstances.
Keep your confirmation number and any documentation of the closure for your records. If you ever need to verify that the account was closed or if there is a dispute about the closure, you can reference this information. Bank of America will also send you a final statement showing the account closure.
Frequently Asked Questions
What if I still have money in the account?
You must bring the balance to zero before closing. Withdraw the money in cash, transfer it to another Bank of America account, or move it to a different bank. The representative closing your account can help you arrange this.
Will closing my savings account affect my checking account?
Closing a savings account does not automatically close your checking account. However, if you have overdraft protection linked between them, that protection will be removed once the savings account closes.
How long does it take for the account to fully close?
The closure is processed immediately, but it may take a few business days for the account to disappear from your online banking view and for all systems to update. You will receive a confirmation number right away.
Can I reopen the account after I close it?
Bank of America may allow you to reopen a closed account within a certain timeframe, but this depends on the reason for closure and your account history. Contact customer service to ask about reopening options if you change your mind.
What if I have automatic transfers set up from this account?
Any automatic transfers from the closed account will stop. If you have bills or other payments set to draw from this savings account, update those payment arrangements before closing to avoid missed payments or returned transactions.