You can close most Bank of America accounts online through your account settings, but the process depends on your account type and whether you have an outstanding balance
Bank of America lets you close checking and savings accounts through their website or mobile app without calling or visiting a branch. The steps take about five minutes if your account has a zero balance and no pending transactions. If you have money in the account, you'll transfer it out first. If you have a negative balance or outstanding fees, you'll need to settle those before closure.
Some account types—like investment accounts, credit cards, or lines of credit—cannot be closed online and require a phone call to the Bank of America customer service line at 1-800-432-1000. Money market accounts and individual retirement accounts (IRAs) can usually be closed online, but the rules vary slightly depending on whether the IRA is traditional or Roth.
Key Takeaways
- Checking and savings accounts close online through your account settings once the balance reaches zero and all pending transactions clear.
- You must transfer any remaining money out of the account before you can close it, either to another Bank of America account or an external bank.
- If your account is overdrawn or has unpaid fees, you cannot close it until the negative balance is paid in full.
- Credit cards, investment accounts, and some specialty accounts require a phone call to close and cannot be closed through the website or app.
Steps to close a checking or savings account online
Log into your Bank of America account on the website or open the mobile app. Navigate to the account you want to close and look for the account settings or account details section. The exact location varies slightly between the website and app, but it is usually labeled "Account Settings," "Manage Account," or "Account Options."
Once you are in the account settings, look for a link or button that says "Close Account" or "Close This Account." Click or tap it. Bank of America will show you a summary of the account and ask you to confirm that you want to close it. At this point, the system will check whether your balance is zero and whether there are any pending transactions. If either condition is not met, you will not be able to proceed until you resolve it.
After you confirm, the account closes immediately. Bank of America will send you a confirmation email and a final statement within 30 days. Any pending direct deposits or automatic payments linked to that account will fail after closure, so update those with your new account information before you close.
What to do with money still in the account
Before you can close an account, the balance must be exactly zero. If you have money in the account, transfer it to another account first. You can move funds to another Bank of America account you own (checking to savings, for example) instantly through the transfer tool in your account settings. You can also transfer to an external bank account, but that transfer usually takes one to three business days through the ACH system.
If the amount is small and you want to close the account immediately, you can withdraw the cash at any Bank of America ATM or branch. Keep in mind that if you withdraw cash and then close the account the same day, the withdrawal may still be processing when you attempt to close, which can block the closure temporarily.
Accounts with a negative balance or unpaid fees
If your account is overdrawn—meaning the balance is negative—you cannot close it online. You must deposit enough money to bring the balance to zero first. The same rule applies if there are unpaid monthly maintenance fees, overdraft fees, or other charges on the account. Bank of America will not allow closure until all negative balances and fees are settled.
If you are unsure whether your account has unpaid fees, check your recent statements or call Bank of America at 1-800-432-1000 to ask. The representative can tell you the exact amount owed and whether you can close the account once it is paid. Some customers find it easier to call first rather than attempting closure online and hitting an error message.
Account types that require a phone call to close
Credit cards cannot be closed through the website or app. You must call 1-800-432-1000 to close a Bank of America credit card. The same applies to lines of credit, home equity accounts, and auto loans. Investment accounts (brokerage accounts) also require a phone call, even though you can manage them online.
If you have a Bank of America IRA, you can usually close it online if it is a traditional or Roth IRA with no special features. However, if the IRA holds certain types of investments or if you need to take a distribution, you may need to call. Money market accounts can typically be closed online using the same process as a savings account.
What happens after you close your account
Once your account is closed, you cannot reopen it under the same account number. If you change your mind and want to use Bank of America again, you will need to open a new account. Bank of America will keep your account history on file for seven years, so you can still view old statements and transaction records through your online banking profile even after closure.
Any checks you wrote against that account will bounce if they have not cleared yet. If you closed a checking account and checks are still outstanding, contact the people or businesses you wrote them to and provide a new payment method. Direct deposits and automatic payments will fail, so update those with your new account information at least a few days before you close.
If you had a debit card linked to the account, it will stop working immediately after closure. Destroy the card or contact Bank of America to report it as closed so it cannot be used fraudulently. If you had pending transactions that had not yet posted, those will be reversed and the money will be returned to the account before it closes.
Closing an account with pending transactions or holds
If your account has a pending transaction—such as a charge that has been authorized but not yet posted—you cannot close the account until that transaction clears or is reversed. This usually takes one to three business days. Bank of America's system will not allow you to proceed with closure if there are any holds or pending items on the account.
If a transaction is stuck in pending status for longer than a week, call Bank of America to ask them to investigate. In rare cases, a merchant may have placed a hold on your account that needs to be released manually. Once the hold is removed or the transaction posts, you can close the account.
Frequently Asked Questions
Can I close my Bank of America account if I have a negative balance?
No. You must deposit money to bring the balance to zero before you can close the account online. If you have unpaid fees or overdraft charges, those must be paid in full first. Call 1-800-432-1000 if you need help calculating the exact amount owed.
What happens to my debit card when I close my account?
Your debit card stops working immediately after the account closes. You should destroy the card or contact Bank of America to report it as closed. If you have automatic payments or direct deposits set up on that card, update them with a new payment method before you close the account.
Can I close my Bank of America credit card online?
No. Credit cards must be closed by phone. Call 1-800-432-1000 and tell the representative you want to close your credit card account. They will confirm your identity and process the closure. Make sure your balance is paid in full before you call.
How long does it take to close a Bank of America account?
If you close online and your account has a zero balance with no pending transactions, the account closes immediately. You will receive a confirmation email right away. Your final statement will arrive within 30 days.
Can I reopen a Bank of America account I just closed?
No. Once you close an account, you cannot reopen it under the same account number. If you want to use Bank of America again, you will need to open a new account. Your old account history will remain on file for seven years.