You can close a Bank of America savings account online through the mobile app or website, but only if the account has a zero balance and no pending transactions
Bank of America lets you close a savings account from your phone or computer, but the process has hard limits. The account must have exactly zero dollars in it—no remaining balance, no pending deposits or withdrawals. If you have money left, you must transfer or withdraw it first. The online closure works only for savings accounts; checking accounts and money market accounts require a phone call or visit to a branch.
The entire process takes about five minutes once your balance is zero. You will not need to mail anything or visit a branch unless something blocks the online closure—which happens most often when the account still holds money or has a hold placed on it by the bank.
Key Takeaways
- Your Bank of America savings account balance must be exactly zero before you can close it online through the app or website.
- Transfer remaining funds to another account or withdraw them as cash before attempting to close the account.
- If the online closure option does not appear, call Bank of America at 1-800-432-1000 or visit a branch in person.
- Closing the account does not affect your credit score, but it may affect your account history if you close it within a short time of opening it.
- After closure, you will lose access to that account and any linked services like overdraft protection tied to it.
Steps to close your savings account online through the app
Open the Bank of America mobile app and sign in. Navigate to the savings account you want to close by tapping on it from your accounts list. Look for a menu icon (usually three horizontal lines or dots) at the top or bottom of the screen, then select "Account Services" or "Settings."
Scroll down until you find an option labeled "Close Account" or "Close This Account." Tap it. The app will confirm that your balance is zero and show you any pending transactions. If either exists, you cannot proceed—you must handle those first. If your balance is zero and there are no pending items, follow the prompts to confirm closure. The app will ask you to verify your identity and may request a reason for closing. After you confirm, the account closes immediately.
Steps to close your savings account online through the website
Go to bankofamerica.com and log into your account. Click on the savings account you want to close from your accounts dashboard. Look for a link or button labeled "Account Services," "Manage Account," or "More Options"—the exact label varies depending on your account type and when your account was opened.
Find and click "Close Account." The website will verify your balance is zero and display any pending activity. If both are clear, you will be asked to confirm your identity and provide a reason for closure (optional). Review the closure details and click "Confirm" or "Close Account." The account closes immediately, and you will receive a confirmation message on screen and via email.
What to do if the close account option does not appear
If you cannot find a close account option in the app or on the website, one of these barriers is blocking it: the account still holds money, a pending deposit or withdrawal is processing, the account has a hold placed on it, or the account type cannot be closed online. Check your balance first—even a few cents will prevent closure. Wait for any pending transactions to complete; this usually takes one to two business days.
If your balance is truly zero and no transactions are pending, call Bank of America at 1-800-432-1000 and ask to close the account over the phone. A representative can see holds or other blocks that do not show in your app or online account. You can also visit a Bank of America branch in person with your ID and ask a banker to close the account. Both methods work even when the online option is unavailable.
What happens to your money before you close
You must move all money out of the account before closure. You have two options: transfer the balance to another Bank of America account you own, or withdraw it as cash. To transfer online, go to the account and select "Transfer Money." Choose the receiving account (must be in your name at Bank of America), enter the amount, and confirm. The transfer usually completes within one business day.
To withdraw as cash, visit a Bank of America ATM or branch and withdraw the full balance. ATM withdrawals are instant. If you withdraw at a branch, bring your debit card and ID. Once the account balance reaches zero and no transactions are in progress, you can proceed with closure.
What to expect after you close the account
After closure, the account is gone and you cannot reopen it under the same account number. You lose access to any debit card or ATM card linked to that account—destroy the card or let it expire. If you had overdraft protection set up on a checking account that used this savings account as backup, that protection stops working immediately. You will need to set up a new backup account if you want overdraft coverage.
Bank of America will send you a final confirmation email and may mail a closure letter to your address on file. Keep this letter for your records. Closing a savings account does not hurt your credit score because savings accounts do not appear on your credit report. However, if you close the account very soon after opening it, the bank may note this in your internal history, which could affect future applications for new accounts at Bank of America.
Why you might not be able to close online and what to do instead
The most common reason the online option fails is a remaining balance—even one cent blocks closure. Less common reasons include a bank hold on the account (placed when fraud is suspected or during an investigation), a pending direct deposit that has not yet posted, or an account type that Bank of America does not allow to close online, such as certain promotional savings accounts or accounts with special terms.
If you hit a wall, call 1-800-432-1000 during business hours (Monday through Friday, 8 a.m. to 8 p.m. Eastern Time; Saturday, 8 a.m. to 5 p.m. Eastern Time). A representative can identify the exact block and help you resolve it. If a hold is in place, they can explain why and when it will lift. If a pending transaction is the issue, they can tell you when it will clear. Once the block is removed, you can close the account online or ask the representative to close it for you over the phone.
Frequently Asked Questions
Does closing a savings account hurt my credit?
No. Savings accounts do not report to credit bureaus, so closing one has no effect on your credit score or credit report. Closing a checking account also does not hurt your credit. Only credit accounts—credit cards, loans, lines of credit—appear on your credit report.
Can I close a joint savings account online?
If you are a joint owner, you may be able to close it online if both owners have agreed and the balance is zero. However, Bank of America sometimes requires both owners to authorize closure. If the online option does not appear or asks for the other owner's approval, call 1-800-432-1000 to close it with both owners present or authorized.
What if I have a pending direct deposit scheduled to hit this account?
Wait until the deposit posts before closing. A pending direct deposit will block online closure. Once the money arrives and you transfer or withdraw it, the account balance will be zero and you can close it. This usually takes one to two business days after the scheduled deposit date.
Can I reopen a Bank of America savings account with the same account number after closing?
No. Once you close an account, that account number is retired and cannot be reused. If you want a savings account again, you will open a new one with a different account number. The process is the same as opening any new account.
Will Bank of America charge me a fee to close the account?
Bank of America does not charge a fee to close a savings account online or over the phone. However, if you close the account within a certain period of opening it (typically 90 days), the bank may charge a closure fee. Check your account agreement or call 1-800-432-1000 to confirm whether a fee applies to your specific account.