Yes, you can close your Bank of America checking account and move to another bank

You can close a Bank of America checking account at any time, with no penalty or waiting period. Bank of America does not charge a fee to close an account, and you do not need their permission or a reason. The process takes a few minutes in person at a branch, or you can call their customer service line at 1-800-432-1000 and request closure over the phone.

Before you close the account, you need to handle three things: move any money still in it, set up direct deposit and automatic payments at your new bank, and give yourself time for pending transactions to clear. If you close the account while checks are still outstanding or while a payment is processing, that transaction can bounce or fail, which costs you money and damages your credit.

Key Takeaways

  • Bank of America charges no fee to close a checking account, and you can do it by phone, online, or in person at a branch.
  • You must withdraw or transfer all remaining money before closing, or Bank of America will send it to you by check within 30 days.
  • Before closing, redirect your direct deposit to your new bank and update automatic bill payments so they do not bounce.
  • Wait until all pending checks and transfers have cleared before you close the account, which usually takes 5 to 10 business days after you stop using it.
  • If you have a linked savings account, credit card, or loan with Bank of America, closing your checking account does not affect those products.

Steps to close your account without bouncing payments

Start by opening your new checking account at the bank you are switching to. You will need a government ID, proof of address (usually a recent utility bill or lease), and your Social Security number. This takes one business day to a few days depending on the bank.

While that account is being set up, log into your Bank of America account online or call 1-800-432-1000 and make a list of every automatic payment and direct deposit linked to your checking account. This includes your paycheck, government benefits, insurance payments, loan payments, subscriptions, and utility bills. Contact each one—your employer's payroll department, your service providers, government agencies—and give them your new bank's routing number and your new account number. Most changes take effect within one or two pay cycles.

Transfer or withdraw all money from your Bank of America checking account. You can transfer it to your new bank account online (usually free and takes 1 to 3 business days), withdraw it as cash, or request a cashier's check. Do not leave money in the account when you close it.

Wait 5 to 10 business days after you have stopped using the account to make sure all pending transactions have cleared. This includes checks you wrote that may not have been deposited yet, and automatic payments that may still be processing. Once everything has cleared, call 1-800-432-1000 or visit a branch and request account closure.

What happens to money left in the account after closure

If you close your account while money is still in it, Bank of America will send you a check for the remaining balance within 30 days. The check will be mailed to the address on file for your account. This is slower than transferring the money yourself, and if the check is lost or you move before it arrives, you will have to contact Bank of America to request a replacement.

If you have pending transactions when you close the account, Bank of America will honor them if they were authorized before closure. A check you wrote will still clear if it is deposited after you close the account, as long as you had funds when you wrote it. However, if a payment or check arrives after closure and there is no money in the account, it will bounce, and you will be charged a non-sufficient funds fee by the other bank.

Linked accounts and products stay open when you close checking

Closing your Bank of America checking account does not close your savings account, money market account, credit card, or loan if you have one. Those products remain open and active. However, if you have set up transfers between your checking account and a savings account, those transfers will stop working once the checking account is closed.

If you use your Bank of America debit card for everyday purchases, that card is tied to your checking account and will stop working once the account closes. You will need to use your new bank's debit card or credit card instead. If you have a Bank of America credit card separate from your checking account, it will continue to work.

How to close your account by phone, online, or in person

By phone: Call 1-800-432-1000 and tell the representative you want to close your checking account. They will verify your identity, confirm the account has a zero balance, and process the closure. The account closes immediately, though it may take a few days to show as closed in the system.

In person at a branch: Bring your ID and debit card to any Bank of America branch. Tell a teller you want to close your checking account. They will verify your identity, confirm the balance is zero, and close it on the spot. Ask for written confirmation of the closure.

Online: Bank of America does not offer account closure through their website or mobile app. You must call or visit a branch.

What to do if you have overdraft protection or a negative balance

If your checking account has a negative balance (you owe Bank of America money), you cannot close it until the balance is paid. Transfer money into the account to bring it to zero, then request closure. If you do not pay a negative balance, Bank of America will keep the account open and may send the debt to a collection agency.

If you have overdraft protection linked to a savings account or credit card, that protection will stop working once the checking account closes. Make sure your new bank's checking account is fully set up and funded before you close your Bank of America account, so you do not accidentally overdraft at your new bank during the transition.

Frequently Asked Questions

Will closing my Bank of America checking account hurt my credit?

No. Closing a checking account does not appear on your credit report and does not affect your credit score. Only credit products like credit cards, loans, and lines of credit show up on your credit report. Checking and savings accounts are not reported to credit bureaus.

What if I have pending checks that have not cleared yet?

Wait until all checks have cleared before you close the account. If you close the account and a check arrives after closure, it will bounce because there is no account to debit. The person or business that deposited the check will be charged a fee, and you may face legal action. Call 1-800-432-1000 to ask how long to wait based on the checks you wrote.

Can I reopen a Bank of America checking account after I close it?

Yes. You can open a new Bank of America checking account at any time, just as you would if you were a new customer. However, if you closed the account because of overdrafts or unpaid fees, Bank of America may review your history before approving a new account.

Do I need to close my account in person, or can I do it over the phone?

You can close your account over the phone by calling 1-800-432-1000. You do not need to visit a branch. However, if you prefer to close it in person or want written confirmation, you can visit any Bank of America branch with your ID.

What happens to my debit card when I close my checking account?

Your Bank of America debit card will stop working once the checking account is closed. You will need to use your new bank's debit card or another payment method. If you have a Bank of America credit card, that card will continue to work because it is a separate product.