You can close a Bank of America savings account through their website, by phone, or in person at a branch
The fastest route is online through your Bank of America account dashboard if you have no outstanding holds and your account balance is zero or you're ready to move the money out first. If you have a linked checking account, pending transactions, or a balance you want to transfer, you'll need to handle those before closing. Bank of America does not charge a fee to close a savings account, but they will not close it if there's money still in it.
The process takes a few minutes online, but the account may take one to three business days to fully close after you submit the request. During that time, the account stays open and accessible—you can cancel the closure request if you change your mind. Once it closes, you won't be able to reopen the same account number; you'd have to open a new one.
Key Takeaways
- Move any remaining balance out of the savings account before you close it, either to another Bank of America account or to an external bank.
- Check for pending transactions, automatic transfers, or linked bill payments that might fail once the account closes.
- You can close the account online through your Bank of America dashboard, by calling 1-800-432-1000, or by visiting a branch in person.
- The account will show as closed within one to three business days after you submit the closure request online.
- Bank of America does not charge a fee to close a savings account, and you can cancel the request before the closure is final.
Steps to close your account online
Log into your Bank of America account on their website or mobile app. Go to the account settings or account management section—this is usually found under a menu labeled "Settings," "Profile," or a gear icon. Look for an option that says "Close Account" or "Account Services." Select your savings account from the list of accounts.
Bank of America will ask you to confirm that your account balance is zero. If it's not, you'll need to go back and transfer the money out first. Once you confirm the balance is zero, you'll be asked to select a reason for closing (optional) and review the closure terms. Click "Close Account" or "Submit" to complete the request. You'll receive a confirmation number on screen and via email.
Do not close the browser or app immediately after submitting. Wait for the confirmation page to fully load and save or screenshot the confirmation number—you'll need it if you have questions about the closure later.
Moving your money before you close
If your savings account has a balance, transfer it to another account first. You can move money to a Bank of America checking account, money market account, or another bank entirely. The fastest internal transfer is between two Bank of America accounts—it usually posts the same day or next business day.
To transfer to an external bank, you'll need the receiving account number and routing number. Bank of America calls this an "external transfer" and it typically takes one to three business days. Do this transfer at least three to five business days before you plan to close the account, so you have time to confirm the money arrived and troubleshoot if something goes wrong.
If you have a very small balance (under $1), some people leave it and let Bank of America close the account anyway, but this is risky—the account may stay open if the system flags the balance as too small to process. Transfer everything out to be certain.
Check for automatic payments and linked services
Before closing, review any automatic transfers, bill payments, or recurring deposits tied to this savings account. Log into your account and look for a section called "Transfers," "Scheduled Transactions," or "Bill Pay." Cancel any automatic payments or transfers that use this savings account as the source or destination.
If you have direct deposit set to this account, change it to your checking account or another account before closing. If you forget and direct deposit hits the closed account, the money will be returned to your employer and you'll have to resubmit your banking information—this can take a pay cycle or two to fix.
Check whether this savings account is linked to any other services: overdraft protection, savings goals, or alerts. Closing the account will break these links, so make sure you don't need them anymore or that you've set them up on a different account.
What happens if you close the account by phone or in person
If you prefer not to close online, call Bank of America at 1-800-432-1000 and ask to speak with an account specialist. Have your account number and Social Security number ready. The representative will ask the same questions as the online process: confirm your balance is zero, ask why you're closing, and explain that the account will close within one to three business days.
Closing in person at a Bank of America branch is also an option. Bring your ID and account number. A teller can close the account on the spot, though it still takes one to three business days to fully process. In-person closure can be useful if you have questions or if you're closing multiple accounts at once.
Phone and in-person closures follow the same timeline as online closure—the account doesn't disappear immediately. You'll receive written confirmation by mail within a few days.
What to do if the online closure doesn't work
If you try to close online and the system won't let you, the most common reason is that your balance is not actually zero. Go back to your account details and check the exact balance, including any pending transactions or fees that haven't posted yet. Wait one business day and try again if you see pending items.
Another reason closure might fail is if there are holds on the account—for example, if Bank of America is investigating a dispute or if there's a legal hold. Call 1-800-432-1000 and ask whether any holds are preventing closure. If there are, the representative can tell you when they'll be lifted.
If the online system is simply not showing a close option, try a different browser or clear your browser cache and cookies. If that doesn't work, call or visit a branch—some older accounts or accounts with unusual features may require phone or in-person closure.
After your account closes
Once the account is fully closed, you won't be able to log into it or access any of its history. Bank of America will keep records of the account for their own purposes, but you won't see it in your online dashboard. If you need a record of transactions from that account for tax or legal reasons, download your statements before you close it.
If you closed the account and then realize you need to reopen it, you can't reactivate the same account number. You'll have to open a new savings account, which takes a few minutes online or in person. There's no penalty for this, but you'll get a new account number and new routing number if you need them for any reason.
If you receive mail from Bank of America about the closed account after closure is complete, it's usually just a final confirmation or a notice about any remaining paperwork. You don't need to do anything with it unless it's about a fee or dispute.
Frequently Asked Questions
Can I cancel the closure request after I submit it online?
Yes, as long as the account hasn't fully closed yet. Log back into your account within one to three business days and look for an option to cancel the closure request. Once the account shows as closed in your dashboard, you can't cancel it—you'd have to open a new account instead.
What if I have a pending deposit or transfer when I close the account?
Pending transactions can prevent closure or cause problems after the account closes. Wait for all pending items to post or clear before you close. If a deposit or transfer hits a closed account, it will be returned to the sender, and you'll have to contact Bank of America to retrieve it.
Do I have to close the account in the same state where I opened it?
No. Bank of America accounts are national, so you can close an account online from anywhere, by phone, or at any Bank of America branch regardless of where you opened it. The closure process is the same.
Will closing my savings account affect my credit score?
No. Closing a savings account does not show up on your credit report and does not affect your credit score. Only credit accounts—credit cards, loans, lines of credit—appear on your credit history.
What if I owe Bank of America money when I try to close?
If you have an overdraft or outstanding fee, Bank of America will not let you close the account until it's paid. Pay the balance first, then close. If you're unsure whether you owe anything, call 1-800-432-1000 and ask for your account balance including any fees or holds.