Yes, you can close your Bank of America account at any time
You can close a Bank of America checking or savings account whenever you want, with no penalty. Bank of America does not charge a fee to close an account, and you do not need to maintain a minimum balance or wait for a specific date. You can initiate the closure in person at a branch, by phone, or online through your account settings—though the fastest and most documented way is to visit a branch with your ID.
The process itself takes minutes, but what happens to your money, your direct deposits, and your automatic payments matters more than the closure itself. Before you close, you need to move or withdraw your remaining balance, stop any recurring transactions tied to that account, and update any services that deposit money into it. If you skip these steps, payments can fail, direct deposits can bounce back to your employer, and you may face overdraft fees even after the account is closed.
Key Takeaways
- Bank of America charges no fee to close an account, and you can do it in person, by phone, or online without waiting.
- You must withdraw or transfer your full balance before closure, because Bank of America will not hold money in a closed account.
- Update your employer, government agencies, and any services that send automatic deposits to your account, because payments to a closed account will fail.
- Cancel or redirect any automatic bill payments, subscriptions, or transfers that pull money from the account you are closing.
- Keep your account open for at least one statement cycle after closure to catch any delayed transactions or errors.
What to do with your money before closing
Withdraw or transfer your full balance to another account before you close. Bank of America will not hold money in a closed account, and if a payment arrives after closure, it will be rejected. If you have direct deposits set up—paychecks, Social Security, tax refunds—those will bounce back to the sender, and you may not receive them at all until you update your banking information with that source.
If you have a small balance and want to close quickly, you can withdraw cash at any Bank of America ATM or branch. If you want to move the money to another bank, initiate a transfer from your new bank's website or app (most banks call this an ACH transfer or external transfer), or ask Bank of America to send a wire transfer, which costs $15 to $20 but arrives within one business day. Do not wait until the day you close the account—process transfers at least three to five business days before, because ACH transfers take one to two business days to complete.
Stop automatic payments and subscriptions before closure
Any bill payment, subscription, or automatic transfer tied to the account you are closing will fail once the account is closed. This includes gym memberships, streaming services, insurance premiums, loan payments, and utility bills. A failed payment can trigger late fees, damage your credit score, and cause service interruptions.
Go through your last three months of Bank of America statements and identify every recurring charge. For each one, log into the merchant's website or call them directly and update your payment method to a different card or bank account, or cancel the service if you no longer need it. Do this at least two weeks before you close the account, so you have time to catch any you missed. If a payment fails after closure, contact the merchant immediately to provide updated information and ask them to retry the charge.
Update direct deposits and government payments
If your paycheck, Social Security, pension, unemployment benefits, or tax refund goes into the account you are closing, you must update your banking information with the source before closure. A payment sent to a closed account will be returned to the sender, and you may not receive it for weeks—or at all if the sender does not follow up.
Contact your employer's payroll department and provide your new bank account number and routing number. If you receive government benefits, log into your account on the relevant website (Social Security, your state's unemployment office, the IRS) and update your direct deposit information there. For tax refunds, you can update your banking information on the IRS website or through your tax software before you file. Allow at least one full pay cycle after you update the information to confirm the deposit went to the correct account before you close the old one.
How to close your account: in person, by phone, or online
In person at a branch: Bring a valid ID and your debit card or account number. Tell the banker you want to close the account. They will confirm your balance, process the closure, and give you a receipt. This is the most reliable method because you have a record and can ask questions on the spot. Branches are open Monday through Friday, and some locations have Saturday hours.
By phone: Call Bank of America customer service at 1-800-432-1000. Have your account number, Social Security number, and a form of ID ready. The representative will verify your identity, confirm your balance, and close the account. You will receive a confirmation number—write it down. This method works if you cannot visit a branch, but you do not have a physical record of the closure.
Online: Log into your Bank of America account, go to Settings, and look for "Close Account" or "Account Services." Not all account types can be closed online—if the option does not appear, you will need to call or visit a branch. Online closure is fastest, but you should follow up with a phone call or branch visit to confirm the account is actually closed, because some closures get stuck in processing.
What happens after you close your account
Bank of America will send you a final statement showing the closure date and any remaining balance. If there is money left in the account after closure, Bank of America will mail you a check within 30 days. If you provided a forwarding address, make sure it is current, because a mailed check can take weeks to arrive and may be lost.
Your debit card will stop working immediately. If you have checks linked to the account, they will be rejected if anyone tries to cash them after closure. Keep your final statement and closure confirmation for your records—you may need them if a payment arrives after closure or if you need to prove the account is closed for tax or legal reasons.
If you closed the account because of fraud or unauthorized charges, contact Bank of America's fraud department before closure to report the issue. They may freeze the account instead of closing it while they investigate, which protects you if additional fraudulent charges appear later.
Reasons Bank of America might close your account
Bank of America can also close your account without your request, though this is rare. They may close an account if you repeatedly overdraft, if there is suspected fraud, if you violate the account agreement, or if you have not used the account for an extended period (usually one to two years with no deposits or withdrawals). If Bank of America closes your account, they will mail you a notice and a check for any remaining balance.
If your account is closed by the bank due to overdrafts or violations, you may have difficulty opening a account elsewhere. Check your ChexSystems report (a banking history database) to see if Bank of America reported the closure. You can dispute inaccurate information on your ChexSystems report by visiting chexsystems.com.
Frequently Asked Questions
Will closing my Bank of America account hurt my credit score?
Closing a bank account does not directly affect your credit score, because bank accounts are not reported to credit bureaus. However, if you close an account with an outstanding overdraft balance or unpaid fees, Bank of America may send that debt to a collection agency, which will damage your credit. Pay any outstanding balance before closure.
How long does it take to close a Bank of America account?
Closure is immediate when you do it in person or by phone. Online closure may take one to three business days to process. After closure, Bank of America will mail your final statement and any remaining balance within 30 days. Do not assume the account is closed until you receive written confirmation.
Can I reopen a Bank of America account after I close it?
Yes, you can open a new Bank of America account at any time. However, if you closed the account due to overdrafts, fraud, or violations, Bank of America may deny your application or require you to wait a certain period before opening a new account. Contact a banker to ask about your specific situation.
What if I close my account but a check or payment arrives after closure?
Checks and ACH payments sent to a closed account will be returned to the sender marked "account closed." The sender will receive the returned payment within five to seven business days and may attempt to contact you. If this happens, provide your new banking information so they can resend the payment. If it is a government benefit or paycheck, contact the source immediately to update your account information.
Do I need to close my account in the same state where I opened it?
No. You can close your account at any Bank of America branch, by phone, or online, regardless of where you opened it or where you currently live. Your account is part of Bank of America's national system, so location does not matter.