Close your account in person, by phone, or by mail — Bank of America does not charge a fee

You can close a Bank of America savings account without penalty at any time. The bank will not charge you a closing fee, and you do not need to maintain a minimum balance to close. You have three main routes: visit a branch in person with your ID, call Bank of America at 1-800-432-1000, or send a written request by mail. The fastest method is visiting a branch, where a banker can process the closure immediately and answer questions about your balance and any pending transactions.

Before you close, make sure your account balance is zero or that you have arranged to withdraw or transfer the remaining funds. If money is still in the account when it closes, the bank will mail you a check. You should also confirm that no automatic deposits or bill payments are still tied to the account — if they are, they will fail after closure, which can trigger overdraft fees or missed payments elsewhere.

Key Takeaways

  • Bank of America charges no fee to close a savings account, and you can do it by visiting a branch, calling 1-800-432-1000, or mailing a written request.
  • Withdraw or transfer your full balance before closing, because the bank will mail any remaining funds as a check after the account closes.
  • Stop any automatic deposits, transfers, or bill payments linked to the account at least a few days before closure to avoid failed transactions.
  • If you close in person, bring a government-issued ID; if you call or mail, have your account number ready.

Closing in person at a Bank of America branch

Walk into any Bank of America branch with your government-issued ID and ask to close your savings account. Tell the banker your account number or the phone number associated with the account. They will pull up your account, confirm your balance, and process the closure on the spot. If your balance is not zero, ask whether you want the remaining funds transferred to another account you own at Bank of America, withdrawn as cash, or mailed to you as a check.

This method is the fastest because everything happens in one conversation and you leave with confirmation. The banker can also answer questions about pending transactions, recurring charges, or linked accounts that might be affected. Bring your ID even if you have banked there for years — it is a standard requirement.

Closing by phone with Bank of America customer service

Call 1-800-432-1000 and tell the representative you want to close your savings account. Have your account number ready, and be prepared to answer security questions to verify your identity. The representative will confirm your balance and ask how you want any remaining funds handled — transferred to another Bank of America account, mailed as a check, or withdrawn at a branch.

Phone closure usually takes 10 to 15 minutes. The representative will send you a confirmation email or mail a letter confirming the closure. Ask for a reference number before you hang up so you have proof of the request. If you have questions about linked accounts, automatic payments, or pending deposits, ask them during this call because you will not have a banker to consult afterward.

Closing by mail

Write a letter to Bank of America requesting closure of your savings account. Include your full name, account number, the date, and your signature. Mail it to the address on your most recent statement or to Bank of America's general correspondence address. Include a copy of your ID if you have never visited a branch or if the bank requests it.

Mail closure takes longer — typically two to four weeks from the time the bank receives your letter. During that time, confirm that no automatic transactions are still processing. Once the bank receives and processes your letter, they will send you written confirmation and handle any remaining balance according to your instructions in the letter. If you do not specify what to do with remaining funds, the bank will mail you a check.

What to do with your remaining balance

Before you close, move or withdraw all money in the account. If you have $500 in the savings account, you can transfer it to another Bank of America account you own, withdraw it as cash at a branch, or ask the bank to mail it to you. Transferring to another account is the fastest option and avoids the wait for a mailed check.

If you forget to empty the account before closure, the bank will not charge you — they will simply mail the remaining balance to your address on file as a check. This check usually arrives within two to four weeks. If you move before receiving it, you can contact Bank of America to request a replacement or have the funds transferred to a new address.

Stop automatic transactions before closing

Check whether any automatic deposits, bill payments, or transfers are still linked to the savings account. Common examples include direct deposit of paychecks, automatic transfers to pay credit cards, or recurring charges from subscriptions. If these transactions try to process after the account closes, they will fail, which can trigger overdraft fees on other accounts or cause late payments on bills.

Stop or redirect these transactions at least three to five business days before you close the account. For direct deposit, update your employer or benefits provider with a new account number. For bill payments, log into each biller's website and change the payment account. For automatic transfers, cancel them through your Bank of America online banking or by calling the bank. Once you have confirmed that nothing is still attached to the account, you can safely close it.

What happens after your account closes

Once closed, you cannot use the account number to make deposits or withdrawals. Any checks you wrote against the account will bounce if they have not yet cleared. If someone tries to deposit money into the closed account, the deposit will be rejected and returned to the sender.

Bank of America will keep a record of the account for your files. If you need a statement or transaction history after closure, you can request it by phone or mail. The bank typically keeps records for seven years. If you think you might need the account again in the future, consider leaving it open but unused instead of closing it — this avoids the need to reopen an account later, which can take time and may require a new application.

Frequently Asked Questions

Will Bank of America charge me to close my savings account?

No. Bank of America does not charge a fee to close a savings account. You can close at any time without penalty, and there is no minimum balance requirement to close.

What if I have a pending deposit or check that has not cleared yet?

Tell the banker or representative that you have a pending transaction. They can hold the account open a few extra days to let it clear, or they can close it and forward the deposit to you once it arrives. Confirm the plan in writing so there is no confusion.

Can I reopen a Bank of America savings account after I close it?

Yes, you can open a new savings account at any time. However, reopening is treated as a new account, so it will have a new account number. If you think you might need the account again soon, consider leaving it open instead.

How long does it take to close my account if I do it by mail?

Mail closure typically takes two to four weeks from the date the bank receives your letter. Send it certified mail if you want proof of delivery. Call the bank after two weeks if you have not received confirmation.

What if I have a linked checking account or credit card?

Closing the savings account does not affect other accounts. However, if you have set up transfers between the savings account and a checking account, those transfers will fail after closure. Update or cancel any linked transfers before you close.