You can close a Bank of America savings account online through your mobile app or website, but only if the account has a zero balance and no pending transactions
Bank of America lets you close most savings accounts without calling or visiting a branch. Log into your account on the website or mobile app, navigate to the account settings, and select the option to close the account. The process takes a few minutes, but the account won't actually close until any remaining balance is transferred out and all pending transactions clear — which can take several business days.
If your account has a balance, you must transfer or withdraw the money first. If you have pending deposits or withdrawals, you have to wait for those to post before closing. Bank of America will not let you close an account with money still in it or with transactions in flight.
Key Takeaways
- Your savings account must have a zero balance before you can close it online through the Bank of America app or website.
- Any pending transactions — deposits, withdrawals, or transfers — must clear before the account will actually close.
- If you cannot close the account online, you can call Bank of America at the number on your card or visit a branch in person.
- Closing an account does not affect your other Bank of America accounts, but it may take up to 10 business days for the closure to fully process.
Steps to close your account online
Start by logging into your Bank of America account on the website or opening the mobile app. Go to your savings account and check the current balance. If there is any money in the account, transfer it to another account or withdraw it at an ATM or branch.
Once the balance is zero, look for account settings or account management options — the exact location varies slightly between the website and app. Select the option to close the account. Bank of America will ask you to confirm that you want to close it and may ask why. Answer the questions and submit your request. You should see a confirmation message with a reference number.
The account will not close immediately. Bank of America needs time to process the request and make sure no new transactions post to the account. This usually takes 5 to 10 business days. During this time, do not attempt to use the account or deposit money into it.
What happens if your account has a pending transaction
If you initiated a transfer or deposit that has not yet posted, you cannot close the account until that transaction clears. Bank of America's system will not let you proceed with the closure request. You have two choices: wait for the transaction to complete, or contact Bank of America to cancel the pending transaction first.
Pending transactions can take 1 to 3 business days to post, depending on the type. ACH transfers from another bank typically take longer than internal transfers between your own Bank of America accounts. If you are in a hurry to close the account, calling Bank of America to cancel a pending transaction may be faster than waiting.
When you cannot close the account online
Some savings accounts cannot be closed through the app or website. This happens most often with accounts that have a hold placed on them, accounts tied to a loan or credit product, or accounts that are part of a special program. If the online option does not appear or you get an error message, you will need to close the account by phone or in person.
Call the number on the back of your debit card or visit a Bank of America branch with a photo ID. A representative can close the account for you and answer questions about why the online option was not available. Closing by phone or branch usually takes the same amount of time as closing online — 5 to 10 business days for the closure to fully process.
What to do with direct deposits or automatic payments
Before you close the account, check whether any direct deposits or automatic payments are set to hit that savings account. If your paycheck or a regular transfer goes to this account, you need to update those instructions to point to a different account — otherwise the deposit or payment will fail once the account is closed.
Log into your employer's payroll system or the website of any company that sends you regular payments and update the account number. For automatic bill payments, log into each biller's website and change the account information there. This takes a few minutes but prevents missed deposits or failed payments after the account closes.
How long the closure actually takes
The online closure request is instant, but the account does not actually close right away. Bank of America needs 5 to 10 business days to process the request, make sure no new transactions post, and remove the account from your profile. Weekends and holidays do not count as business days, so a closure request submitted on a Friday may not complete until the following week.
Once the account is fully closed, you will no longer see it in your account list. You cannot reopen the same account, but you can open a new savings account at any time. If you need to verify that the account is closed, you can call Bank of America or check your account statements — closed accounts will no longer appear on your statements after the closure date.
What happens to your other Bank of America accounts
Closing one savings account does not affect your other Bank of America accounts. Your checking account, other savings accounts, credit cards, or loans will continue to work normally. The closure is specific to that one account only.
If you have automatic transfers set up between this savings account and another account, those transfers will stop once the account closes. If you want to keep moving money between accounts, set up a new transfer to a different savings account before you close the original one.
Frequently Asked Questions
Will closing my savings account hurt my credit score?
No. Closing a savings account does not affect your credit score because savings accounts are not reported to credit bureaus. Only credit products like credit cards, loans, and lines of credit show up on your credit report. Closing a savings account has no impact on your creditworthiness.
Can I close the account if I still owe Bank of America money?
If you owe money on a loan or credit card, you can still close the savings account — they are separate products. However, if the savings account is linked to a loan as collateral or as part of a special account package, Bank of America may not let you close it until the loan is paid off. Call to ask if your account has any restrictions.
What if I close the account and then need to reopen it?
You cannot reopen the exact same account once it is closed. However, you can open a new savings account at Bank of America at any time. The new account will have a different account number, but it will work the same way as the old one. There is no waiting period or penalty for opening a new account after closing one.
Do I need to do anything special if I have a joint account?
If the savings account is joint with another person, both account holders usually need to agree to close it. Contact Bank of America to find out whether both signatures are required or whether one owner can close the account alone. The rules vary depending on how the account was set up.
What if my account has been inactive for a long time?
You can still close an inactive account online as long as it has a zero balance and no pending transactions. If the account has been inactive for several years, Bank of America may have frozen it or charged dormancy fees. Check the current balance and any recent activity before you attempt to close it, and contact Bank of America if you have questions about the account status.