You can close a Bank of America savings account online through their website or mobile app, but only if the account has a zero balance and no pending transactions
Bank of America lets you close a savings account from home without calling or visiting a branch. The process takes a few minutes if your account is empty and clear. If you have money in the account or outstanding checks, you will need to move the funds or wait for those transactions to settle first.
The online closure option is available through your Bank of America login on their website or through the mobile app. You do not need to schedule an appointment or speak to anyone. Once you confirm the closure, the account closes immediately, though it may take a few business days for the closure to appear in your account history.
Key Takeaways
- Your savings account must have a zero balance before you can close it online—transfer or withdraw any remaining money first.
- Wait for all pending transactions, including automatic payments and pending deposits, to clear before attempting closure.
- You can close the account through your Bank of America online banking portal or mobile app without calling customer service.
- If you cannot close the account online, you can call Bank of America at 1-800-432-1000 or visit a branch in person.
- After closure, keep your account statements and records for at least one year in case you need proof of the closure or to dispute any charges.
Steps to close your account online
Log into your Bank of America account on their website or open the mobile app. Navigate to the settings or account management section—this is usually found under "Account Services" or a gear icon. Look for an option labeled "Close Account" or "Manage Accounts." Select your savings account from the list of accounts you hold.
Bank of America will show you the current balance and ask you to confirm that the account is empty. If there is any money in the account, the system will not let you proceed—you will need to transfer those funds to another account or withdraw them at an ATM or branch first. Once you confirm the balance is zero, review the closure details and click to confirm. The account will close immediately.
After closure, you will receive a confirmation message on screen. Bank of America will also send you a confirmation email to the address on file. Keep this email for your records. The account will no longer appear in your active accounts list, though it may show in your account history for reference.
What to do before closing: clearing your balance and pending items
Before you attempt to close the account online, withdraw or transfer any remaining balance. You can transfer money to another Bank of America account you own, to an external bank account, or withdraw cash at an ATM or branch. If you use an external transfer, allow one to three business days for the money to arrive at the other bank.
Check for any pending transactions that have not yet cleared. This includes automatic bill payments, pending deposits, or checks you have written that have not been cashed. Bank of America will not let you close an account with pending activity. If you have automatic payments set up on this account, cancel them or move them to another account before closing. Wait at least one business day after canceling automatic payments to make sure the system has processed the change.
If you are waiting for a check to clear or a deposit to post, you can check the status in your transaction history. Once all pending items show as complete, you are ready to close the account online.
If you cannot close the account online
Some accounts cannot be closed through the online portal. This happens if the account still has a balance, pending transactions, or if there is a hold or restriction on the account. Bank of America may also require you to close certain account types in person or by phone.
Call Bank of America customer service at 1-800-432-1000 to close the account by phone. A representative will verify your identity, check the account status, and walk you through the closure process. This usually takes 10 to 15 minutes. You can also visit a Bank of America branch in person with your ID and ask a teller to close the account. Bring any debit card or checkbook associated with the account so you can destroy them or turn them in.
What happens to your debit card and checks after closure
If your savings account has a debit card attached, that card will stop working once the account closes. Destroy the card by cutting it in half or shredding it. Do not throw it away intact, as the card number could be recovered.
If you have checks linked to the savings account, stop using them immediately. Any checks you have already written but not yet cashed may still be processed after the account closes, which can result in overdraft fees or returned check fees. Contact anyone you have given a check to and ask them to use a different payment method if possible. If a check does clear after closure, Bank of America will charge a returned check fee and the check will bounce.
Timeframe for account closure to take effect
The account closes immediately when you confirm the closure online, but it may take one to three business days for the closure to fully process in Bank of America's system. During this time, the account will not accept deposits or withdrawals, but it may still appear in your account list. After three business days, the account should disappear from your active accounts and move to your closed accounts history.
If you need proof that the account is closed, you can download your final account statement or request a closure letter from Bank of America. A closure letter is a document that confirms the account is closed and the date of closure. You can request this through customer service or by visiting a branch. Keep this letter for your records, especially if you are closing the account to resolve a dispute or for tax purposes.
Frequently Asked Questions
Will closing my savings account affect my credit score?
Closing a savings account does not affect your credit score because savings accounts do not appear on your credit report. Only credit accounts like credit cards, loans, and lines of credit impact your credit. You can close a savings account without any credit consequences.
Can I reopen a Bank of America savings account after closing it?
Yes, you can open a new savings account with Bank of America at any time after closing one. You will need to meet their current account opening requirements and provide identification. There is no waiting period, and closing an account does not prevent you from opening a new one.
What if I have a negative balance or owe Bank of America money?
You cannot close an account with a negative balance online. You must pay the negative balance first by transferring funds from another account or making a payment. Once the balance is zero or positive, you can close the account. If you owe Bank of America money for fees or other reasons, settle that debt before attempting closure.
Do I need to close my savings account if I'm switching banks?
No, you do not have to close your Bank of America savings account when you switch to another bank. You can keep it open and inactive, or close it if you prefer not to maintain multiple accounts. Closing is optional and depends on your personal preference.
How long does Bank of America keep records after I close my account?
Bank of America keeps closed account records for at least seven years. You can request copies of your statements or account history during this time by contacting customer service or logging into your online banking account, where closed accounts often remain accessible for reference.