The fastest way to close your account
You can close a Bank of America savings account in person at any branch, by phone, or online through your account settings. The in-person route is fastest if you have cash or checks to withdraw—the banker can close the account on the spot and hand you the balance. By phone, call the number on the back of your debit card or 1-800-432-1000 and ask for account closure; they will verify your identity and process it within minutes. Online closure is available through your Bank of America login under account settings, though some account types may require a phone call or branch visit.
Before you close, withdraw or transfer any remaining balance. Bank of America will not hold your money, but the process is simpler if you move it yourself rather than waiting for a check. If you have automatic deposits or bill payments tied to the account, change those first—the bank will not redirect them, and missed payments can damage your credit or result in late fees elsewhere.
Key Takeaways
- You can close your account in person at a branch, by phone at 1-800-432-1000, or through your online account settings.
- Withdraw or transfer your balance before closing; the bank will not automatically send it to you.
- Update any automatic deposits or bill payments linked to the account so they do not fail after closure.
- The account will close immediately if you do it in person or by phone, but may take a few business days if you close online.
- If the account has a negative balance or outstanding holds, the bank may delay closure until those are resolved.
What happens to your money when you close
Bank of America will not send your balance to another account automatically. If you close the account with money still in it, the bank will mail you a check to the address on file, which typically arrives within 7 to 10 business days. This delay is why moving the money yourself before closure is simpler—you control the timing and can confirm the transfer immediately.
If the account has a negative balance (you owe the bank money), they will not close it until the balance is paid. This can happen if fees have accumulated or if a transaction posted after you thought the account was empty. Ask the banker or phone representative what the current balance is before you attempt to close.
Closing an account with automatic payments or deposits
Any automatic bill payments or direct deposits tied to this savings account will fail after closure. This is not the bank's problem to solve—it is yours. Before you close, log into each service that sends money to or pulls money from this account and update the payment method or deposit destination.
Common places to check: your employer's payroll system (if direct deposit goes here), utility companies, insurance providers, subscription services, loan servicers, and any other recurring charges. If you miss one and a payment fails, the creditor may charge a late fee or report the missed payment to credit bureaus. Give yourself at least a week after changing these details before closing the account, so you can confirm the new payment method worked.
Closing in person at a Bank of America branch
Bring your ID and debit card to any Bank of America branch during business hours. Tell the banker you want to close your savings account. They will pull up your account, confirm the balance, and ask how you want to receive any remaining money—as cash, a check, or a transfer to another account. If you choose cash or a transfer, it happens immediately. If you choose a check, they will print it on the spot.
The account closes right away. You will not be able to use the debit card for this account after you leave the branch, though it may take a few hours for the system to fully process the closure. If you have a checking account with the bank and want to keep it, closing the savings account does not affect it.
Closing by phone
Call 1-800-432-1000 and tell the representative you want to close your savings account. They will ask for your account number and verify your identity by asking security questions or requesting information from your recent statements. Once verified, they will confirm your current balance and ask how you want to receive it.
If you choose a check, they will mail it to the address on file within 7 to 10 business days. If you want the money transferred to another account, you can provide the routing and account number over the phone, though the bank may require you to set up the transfer through your online account for security reasons. The account closes after the call, though it may take a business day to fully process.
Closing online through your account settings
Log into your Bank of America account, go to Settings or Account Management, and look for the option to close the account. Not all account types allow online closure—if you do not see the option, you will need to call or visit a branch. If the option is available, the bank will walk you through confirming your balance and choosing how to receive any remaining money.
Online closure typically takes 1 to 3 business days to process, which is slower than in-person or phone closure. During that time, the account is marked for closure but may still be active. Do not attempt to make deposits or withdrawals during this period—they may fail or cause the closure to be delayed.
What to do if the bank refuses to close your account
Bank of America can refuse to close an account if it has a negative balance, if there are outstanding holds on funds, or if there is an active dispute or fraud investigation. In these cases, you must resolve the issue first. If the account is negative, deposit money to bring it to zero. If there is a hold, contact the bank to find out why and when it will be lifted.
If the bank cites a reason you do not understand or believe is wrong, ask to speak with a supervisor. You have the right to close your account, but the bank has the right to resolve its own claims first. Once the issue is cleared, you can proceed with closure.
Frequently Asked Questions
Can I close my savings account if I still have a checking account with Bank of America?
Yes. Closing one account does not affect the other. Your checking account will remain open and active. Make sure you have not set up any automatic payments or deposits to the savings account before you close it.
What if I close my account and then realize I need it back?
You can reopen a closed Bank of America savings account, but the bank treats it as a new account. You will need to go to a branch or call to reopen it. There is no time limit, but the bank may ask why the account was closed and may require a new initial deposit.
Do I have to close my account in person, or can I do it over the phone?
You can close by phone, online, or in person. Phone and in-person closure are faster. Online closure works but may take several business days. Choose whichever is most convenient for you.
Will closing my savings account hurt my credit score?
No. Closing a savings account does not affect your credit because savings accounts do not appear on your credit report. Only credit accounts like credit cards, loans, and lines of credit impact your score.
What if I forgot to update my direct deposit before closing?
Contact your employer's payroll department or the service sending the deposit and provide your new account information. They will redirect future deposits to the correct account. If a deposit was already sent to the closed account, Bank of America will return it to the sender, and you will need to resubmit it to the correct account.