You can close a Bank of America savings account in person, by phone, or online, but the fastest route depends on your account balance and whether you have pending transactions
Bank of America does not charge a fee to close a savings account. Before you close, you need to withdraw or transfer any remaining balance—the bank will not hold money in a closed account. If you have automatic deposits or payments tied to the account, those will stop working once the account closes, so plan ahead if you receive paychecks or pay bills from this account.
The account closes immediately if you close it in person at a branch. Phone and online closures typically take one to three business days to process. If your account has a negative balance (you owe the bank money), you must settle that before closing.
Key Takeaways
- You can close your account at any Bank of America branch, by calling 1-800-432-1000, or through the mobile app or online banking if your account is in good standing.
- Empty your account completely before closing—transfer or withdraw all money, including any interest earned.
- Stop any automatic deposits or payments linked to the account at least a few days before closing to prevent failed transactions.
- If your account has a negative balance, you must pay what you owe before the bank will close it.
- In-person closure at a branch is the fastest method and gives you proof of closure on the same day.
Closing in person at a Bank of America branch
Walk into any Bank of America branch with a valid photo ID and ask to close your savings account. A teller will pull up your account, confirm your balance, and process the closure. If you have money in the account, the teller will ask how you want it handled—you can withdraw cash, transfer it to another account (at Bank of America or elsewhere), or receive a check.
Bring your ID and your debit card or account number. If someone else is authorized on the account, they can close it too, but the primary account holder has the most straightforward experience. The account closes that same day, and you will receive a receipt confirming closure.
This method works best if you have a branch nearby and want immediate confirmation. It also eliminates the risk of miscommunication that can happen over the phone.
Closing by phone
Call Bank of America at 1-800-432-1000 and tell the representative you want to close your savings account. Have your account number and a valid ID ready. The representative will verify your identity, confirm your balance, and ask how you want any remaining money handled.
Phone closure takes one to three business days. The bank will mail you a confirmation letter, but you will not have proof of closure immediately. If you need to confirm the account is closed before the letter arrives, you can log into your online banking or call back to verify.
This method works if you cannot visit a branch or prefer not to. It is slower than in-person closure but faster than online closure in most cases.
Closing through online banking or the mobile app
Log into your Bank of America online account or open the mobile app. Look for account settings or account management, then find the option to close account. Not all accounts can be closed online—if the option does not appear, your account may have restrictions that require phone or in-person closure.
Online closure typically takes one to three business days. You will receive a confirmation email, but like phone closure, you will not have same-day proof. If your account has a negative balance or pending transactions, the system may block the closure request and direct you to call or visit a branch instead.
This method is convenient if you prefer handling it from home, but it is the least transparent because you cannot ask questions in real time.
What to do with your money before closing
You must remove all money from the account before or during the closure process. Bank of America will not close an account with a balance. Decide in advance whether you want to withdraw cash, transfer to another Bank of America account, or transfer to a different bank.
If you transfer to another bank, use the receiving bank's routing number and your account number there. The transfer usually takes one to two business days. If you withdraw cash, ask for a cashier's check if the balance is large—most tellers will not hand over more than a few hundred dollars in cash without advance notice.
If your account earns interest, any accrued interest will be added to your balance before closure. Check your most recent statement to see the current balance, then verify it matches what the bank shows before you close.
Handling automatic deposits and payments
Stop any automatic deposits or bill payments linked to the account at least three to five business days before you close it. If your paycheck deposits automatically to this account, contact your employer's payroll department and provide your new account number. If you pay bills from this account, log into each biller's website and update your payment method.
If you close the account while automatic transactions are still scheduled, those transactions will fail. Failed deposits may delay your paycheck, and failed bill payments may result in late fees or service interruptions. The bank cannot redirect these transactions to another account—you must update them yourself.
If your account has a negative balance
A negative balance means you owe the bank money—usually because of overdraft fees, returned checks, or other charges. Bank of America will not close the account until you pay what you owe. You can pay online, by phone, at a branch, or by mail.
The fastest way is to pay at a branch or online. If you pay by mail, send a check to the address on your statement and allow at least one week for processing. Once the negative balance is paid, you can proceed with closing the account using any of the methods above.
What happens after you close your account
Once closed, you cannot use the account number to make deposits or withdrawals. Bank of America will keep records of the account for your tax and legal history, but you will not be able to access it through online banking or the app. If you need a record of transactions from the closed account, request a statement before closing or ask the bank to mail you a final statement after closure.
If you later realize you need to reopen an account, you can open a new savings account at any time. There is no waiting period, and you will receive a new account number. The old account remains closed.
Frequently Asked Questions
Can I close my account if I have pending transactions?
No. Bank of America will not close an account with pending deposits or withdrawals. Wait for all pending transactions to clear, which usually takes one to two business days, then close the account. If you are closing by phone or online and the system detects pending activity, it will ask you to try again later.
What if I forgot to transfer money before closing?
Contact Bank of America immediately by phone or at a branch. If the account closed within the last few days, the bank may be able to reopen it or transfer the money to another account you own. The longer you wait, the harder this becomes, so call 1-800-432-1000 as soon as you realize the money is still there.
Do I need to close the account in person if I have a large balance?
No, but it is safer. If you transfer a large balance to another bank, use a wire transfer or cashier's check rather than an ACH transfer, which can take several days. If you withdraw cash, call the branch ahead of time to make sure they have enough on hand. In-person closure also gives you a receipt proving the account is closed.
Will closing my savings account hurt my credit score?
No. Closing a savings account does not affect your credit score because savings accounts do not appear on your credit report. Only credit accounts—credit cards, loans, lines of credit—impact your score.
Can someone else close my account if I give them permission?
If the other person is an authorized user on the account, they can close it in person with their ID. If they are not authorized, they cannot close it, even with your permission. You must close it yourself or add them as an authorized user first.