You can close a Bank of America savings account by phone, in person, or online, but the method depends on your account type and whether you have a balance
The fastest way is to call Bank of America at 1-800-432-1000 and ask to close your savings account. A representative will verify your identity, confirm you have no pending transactions, move any remaining balance to another account or issue a check, and process the closure on the spot. The account closes immediately, though it may take a few business days for the closure to appear in your online banking.
If you prefer to close the account in person, visit any Bank of America branch with a photo ID and your account number. A teller can process the closure the same way a phone representative would. Online closure is available only for certain account types through the Bank of America mobile app or website — look for account settings, then account closure options — but not all savings accounts support this method.
Before you close, make sure your account balance is zero or decide where the remaining funds should go. You cannot close an account with an outstanding balance, and Bank of America will not automatically transfer money to another account unless you direct them to do so.
Key Takeaways
- Phone closure at 1-800-432-1000 is the most reliable method and takes about 10 minutes, with the account closed the same day.
- You must have a zero balance or tell Bank of America where to send remaining funds before the account closes.
- In-person closure at any branch works the same way as phone closure and requires only a photo ID and your account number.
- Online closure through the app or website is available for some account types but not all savings accounts.
- After closure, stop using the account number for automatic payments or direct deposits, as transactions may be rejected or returned.
What happens to your remaining balance
If your savings account has money in it when you close, you have three options: transfer it to another Bank of America account you own, transfer it to an account at a different bank, or receive a check mailed to your address on file.
Transfer to another Bank of America account is instant. Tell the representative the account number where you want the funds to go, and the money moves before the savings account closes. Transfer to an outside bank takes 1 to 3 business days if you provide the routing number and account number. A check is mailed within 5 to 7 business days and is valid for 180 days from the date issued.
Do not leave money in the account hoping to retrieve it later. Once closed, the account number is deactivated and cannot receive deposits or transfers. If you forget to move the money, you will need to contact Bank of America to locate it, which can take weeks.
Stop automatic payments and direct deposits before closing
Any automatic bill payments or recurring transfers linked to your savings account will fail once the account closes. Review your account for standing instructions at least one week before you plan to close.
Log into your Bank of America online banking and look for the Transfers & Payments section. List all automatic payments, subscriptions, or transfers that pull from this savings account. Contact each company or service — your insurance provider, utility company, streaming service, or loan servicer — and update your payment method to a different account or card.
Direct deposits to this account will also be rejected. If your employer or a government agency deposits money here, update your direct deposit information with them before closing. Rejected deposits are returned to the sender and can cause delays in receiving your paycheck or benefits.
Closing a joint savings account
If the account is held jointly with another person, both account holders must consent to close it. Bank of America will not close a joint account on the request of one owner alone.
If you and the other owner agree to close, either of you can initiate the closure by phone or in person. The representative will verify both owners' identities or ask for written consent from the co-owner. If you disagree about closing, the other owner can prevent closure by contacting Bank of America and stating their objection.
For the remaining balance, both owners must agree on where the money goes. If you cannot agree, Bank of America may require a court order or written agreement signed by both parties before releasing the funds.
What to do if you have a negative balance or overdraft
You cannot close an account with a negative balance. Bank of America will not process the closure until the overdraft is paid in full.
If your account is overdrawn, deposit enough money to bring the balance to zero, then request closure. If the overdraft resulted from a fee or error, contact Bank of America customer service to discuss whether the fee can be waived or reversed. Some overdraft fees are negotiable, especially if you have been a customer for a long time or if the overdraft was caused by a system error.
If the account has been inactive or overdrawn for a long time, Bank of America may have already closed it and sent the balance (if any) to the state unclaimed property program. Check your state's unclaimed property database to see if funds are listed under your name.
Closing a savings account linked to a checking account
If your savings account is linked to your checking account for overdraft protection, closing the savings account will remove that protection. Your checking account will no longer be able to draw from the savings account if it overdraws.
Before closing, decide whether you want to keep overdraft protection. If you do, you can link a different savings account or set up overdraft protection through a credit line. If you do not want overdraft protection, closing the savings account will disable it automatically.
Closing one account does not close the other. Your checking account will remain open unless you specifically request to close it as well.
Timeline and confirmation after closure
The account closes on the day you request closure, but the closure may not appear in your online banking for 1 to 3 business days. During this time, the account is already closed and cannot receive deposits or process transactions, even though it may still show in your account list.
Bank of America will send a confirmation letter to your mailing address on file within 7 to 10 business days. Keep this letter for your records. If you do not receive confirmation within two weeks, call 1-800-432-1000 to confirm the closure was processed.
After closure, the account number should never be reused for automatic payments, direct deposits, or wire transfers. If you accidentally use the closed account number, the transaction will be rejected or returned, which can delay payments or cause late fees with the company you are paying.
Frequently Asked Questions
Can I reopen a Bank of America savings account I just closed?
Yes, you can open a new savings account at any time, but it will have a different account number. If you closed the account within the last 30 days, contact Bank of America to see if they can reopen it with the same number. After 30 days, reopening requires opening a brand-new account.
What if I closed my account but still see it online?
Closed accounts can remain visible in your online banking for 30 to 90 days after closure. This is normal. The account is closed and cannot be used, even though it still appears in your account list. If it does not disappear after 90 days, contact Bank of America to have it removed from your view.
Do I need to close my account in person, or can I do it over the phone?
Phone closure is just as valid as in-person closure. You do not have to visit a branch. Call 1-800-432-1000, verify your identity, and the account closes the same day. In-person closure is an option if you prefer to handle it face-to-face or if you need to deposit cash before closing.
What happens to my debit card when I close the savings account?
Closing a savings account does not affect your debit card. Your debit card is linked to your checking account, not your savings account. The card will continue to work as long as your checking account remains open.
Can Bank of America charge me a fee to close my account?
Bank of America does not charge a closure fee for savings accounts. Closing is free. If you are charged a fee, contact customer service immediately to have it reversed.