Call Bank of America or visit a branch to close your savings account
You can close a Bank of America savings account in three ways: by phone, in person at a branch, or through online chat. The fastest route is usually a phone call to the number on the back of your debit card or savings account statement — you'll reach a representative who can process the closure immediately. If you prefer to do it in person, walk into any Bank of America branch with a valid ID and ask to close the account. Online chat is available through your Bank of America login, though it may take longer than a phone call.
Before you close the account, make sure any automatic deposits or withdrawals linked to it are moved to another account or cancelled. Bank of America will not close an account with pending transactions, and if you have direct deposits scheduled, they'll bounce after the account closes. You'll also need to decide what to do with any remaining balance — the bank can transfer it to another account you own, mail you a check, or in some cases send it to another bank account you provide.
There is no fee to close a savings account at Bank of America. The process takes a few minutes by phone or in person, and the account typically closes within one to three business days, though the exact timing depends on whether you have outstanding checks or pending transactions.
Key Takeaways
- Call the number on your account statement or visit a branch in person to close your savings account — both methods work immediately.
- Move or cancel any automatic deposits, bill payments, or recurring transfers before closing, or they will fail after the account shuts down.
- Decide in advance how you want your remaining balance handled: transfer to another account, check by mail, or wire to a different bank.
- The account closes within one to three business days, but the timeline depends on whether you have pending transactions or outstanding checks.
- There is no charge to close a savings account at Bank of America.
What to do with your remaining balance
When you close your account, any money left in it must go somewhere. You have three main options. The first is to transfer the balance to another Bank of America account you own — this is the fastest method and happens immediately. The second is to request a check by mail, which Bank of America will send to your address on file within five to seven business days. The third is to provide another bank's account number and routing number, and Bank of America can wire or transfer the funds there, though this takes longer and may incur a wire fee from the receiving bank.
If you have less than $25 in the account, some branches may hand you cash on the spot. Ask the representative when you call or visit. If you don't specify what to do with the balance and the account sits inactive, Bank of America will eventually send any remaining funds to your state's unclaimed property program — you can recover it later, but it's simpler to handle it yourself at the time of closure.
Stopping automatic payments and direct deposits before closing
Any recurring transaction tied to your savings account — a monthly insurance payment, a subscription, a paycheck deposit — will fail once the account closes. You need to stop or redirect these before you close. Log into your Bank of America online account and look for the "Transfers" or "Bill Pay" section to see what's set up. Cancel anything you don't want to continue, and for direct deposits like paychecks, contact your employer's payroll department to change the account number to your new bank.
If you forget to move a direct deposit and your paycheck bounces, contact your employer immediately and provide the correct account number. Bank of America will not reprocess the deposit to a closed account. For bill payments, contact the company you pay (your utility, insurance company, loan servicer) and update your payment method before the account closes. This usually takes one to two business days to take effect, so plan ahead.
Closing the account by phone
Call the customer service number on the back of your Bank of America debit card or savings account statement. Have your account number and a form of ID ready — the representative may ask you to verify your identity by providing your Social Security number, date of birth, or answers to security questions. Tell them you want to close your savings account and specify what you want done with the balance.
The representative will confirm there are no pending transactions, ask you to confirm the closure one more time, and then process it. The account closes immediately in the system, though it may take one to three business days for the closure to show in your online banking. If you requested a check or transfer, the representative will give you a confirmation number and timeline. Keep this number in case you need to follow up.
Closing the account in person at a branch
Bring your valid ID (driver's license, passport, or state ID) to any Bank of America branch during business hours. Tell a teller or banker that you want to close your savings account. They'll pull up your account, confirm there are no pending transactions, and ask what you want to do with the remaining balance. If the balance is small, they may offer to give you cash. Otherwise, they'll process a transfer to another account or order a check.
The teller will have you sign a form confirming the closure and give you a receipt with a confirmation number. The account closes that day, though it may take a few business days to fully process. This method is useful if you have questions or want to handle the balance in cash on the spot.
What happens to your debit card and online access
Once your savings account closes, your debit card linked to that account will stop working for withdrawals from that specific account. If you have a checking account at Bank of America, your debit card will still work for that account. Your online banking login will remain active, but you won't see the closed savings account listed — it will disappear from your account dashboard within a few days.
If you had a separate savings account debit card (some Bank of America savings accounts come with one), that card will be deactivated. You don't need to do anything; it simply won't work after the account closes. If you want to destroy the card, you can cut it up or shred it, but it's not required.
Timing and what to expect after closure
The account closes immediately when you process the request, but the full closure takes one to three business days to complete in Bank of America's system. During this window, any pending transactions may still post, and transfers or checks you requested will be processed. If you requested a check, it arrives within five to seven business days. If you requested a transfer to another Bank of America account, it happens within one business day. Transfers to other banks take two to five business days.
After the account is fully closed, it will no longer appear in your online banking or on your statements. If you need a record of the account for tax or legal purposes, you can request a copy of your account history from Bank of America — keep the confirmation number from your closure request in case you need to reference it later.
Frequently Asked Questions
Can I reopen a Bank of America savings account after I close it?
Yes. You can open a new savings account at any time by visiting a branch, calling customer service, or using the Bank of America website or app. There is no waiting period. However, if your account was closed due to fraud or policy violations, Bank of America may decline to open a new account for you.
What if I have a pending check or transfer when I try to close?
Bank of America will not close the account until pending transactions clear. Wait for the check or transfer to post, then call back to close. This usually takes one to three business days. If you're in a hurry, ask the representative if they can force-close the account — some can, though it depends on the type of pending transaction.
Do I lose my transaction history after the account closes?
No. You can request a copy of your account statements and transaction history from Bank of America at any time, even after closure. Call customer service or visit a branch with your account number and the date range you need. They can provide statements by mail or email.
What if I closed my account and then received a deposit meant for it?
Contact Bank of America immediately with the deposit details. If the deposit was a direct deposit like a paycheck, the bank may be able to hold it and return it to the sender, or they can help you redirect it to your new account. If it was a wire transfer, the process is more complex — call right away so the bank can attempt to recover it before it's moved elsewhere.
Can I close my savings account if I have a negative balance?
No. You must pay off any negative balance before closing. If your account is overdrawn, Bank of America will not process the closure until you deposit enough to bring it to zero. Once the balance is positive or zero, you can proceed with closing.