You can close a Bank of America savings account in person, by phone, or online, but the method depends on your account type and whether you have a linked checking account
Bank of America lets you close a savings account through three channels: visiting a branch in person, calling customer service, or using online banking if your account is may be able to access. 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 and arrange for any remaining balance to be transferred or mailed to you. If you close in person at a branch, bring your ID and account information; the process takes about 15 minutes. Online closure is available for some account types but not all, so check your account settings first.
Before you close, withdraw or transfer any remaining funds, pay off any outstanding fees or holds, and make sure you won't need the account number for automatic deposits or bill payments. Bank of America typically mails a check for any remaining balance within 7 to 10 business days if you don't arrange an immediate transfer, though you can also ask them to move the money to another Bank of America account or an external bank account on the spot.
Key Takeaways
- Phone closure is the fastest method — call the number on your card or statement and a representative will process it the same day.
- You must withdraw or transfer your balance before closing; Bank of America will not close an account with a zero or negative balance without your instruction.
- If you don't transfer funds during closure, Bank of America mails a check within 7 to 10 business days.
- Closing a savings account does not affect a linked checking account, but confirm you have no automatic transfers or bill payments tied to the savings account number.
- Some account types cannot be closed online; phone or in-person closure works for all accounts.
Closing by phone is the fastest option
Call the customer service number on the back of your Bank of America debit card, savings account statement, or the Bank of America website. Have your account number, Social Security number, and a form of ID ready. Tell the representative you want to close your savings account. They will confirm your identity, review any outstanding fees or holds, and ask what you want to do with your remaining balance.
You can request an immediate transfer to another Bank of America account, an external bank account (you'll need to provide the routing and account number), or ask them to mail a check. If you choose a check, it arrives within 7 to 10 business days. The representative will confirm the closure and provide a confirmation number — write this down for your records. The account closes the same day or the next business day.
Closing in person at a Bank of America branch
Visit any Bank of America branch during business hours with your ID and account information. Tell a teller you want to close your savings account. They will pull up your account, confirm your identity, and review any fees or holds. If your account has a balance, you can withdraw it in cash, transfer it to another account, or request a check.
The teller will process the closure on the spot and give you a receipt with a confirmation number. This method works well if you want to withdraw cash immediately or if you prefer to handle it face-to-face. Bring your ID even if you have a debit card — the teller will ask for it.
Closing online through Bank of America's website or app
Not all Bank of America savings accounts can be closed online. Log into your account on the Bank of America website or mobile app and look for account settings or account management options. If an online closure option appears, select it and follow the prompts. You will be asked to confirm your identity and choose what to do with your balance.
If you don't see a closure option in your account settings, your account type does not support online closure. In that case, use phone or in-person closure instead. Online closure typically completes within one business day.
What to do with your remaining balance
Before you close, decide where your money goes. You have three options: transfer it to another Bank of America account you own, transfer it to an external bank account, or receive a check in the mail. If you transfer to another Bank of America account, the money moves immediately. If you transfer to an external account, provide the routing number and account number; the transfer usually takes 1 to 3 business days. If you request a check, it arrives within 7 to 10 business days.
Do not close the account until you have moved or withdrawn the balance. Bank of America will not close an account with a zero balance without your explicit instruction to do so, and you cannot access the account once it is closed.
Check for automatic transfers, bill payments, and linked services before closing
Review your account for any automatic deposits, bill payments, or transfers tied to your savings account number. If your employer deposits a paycheck into this account, update your direct deposit information with your employer before closing. If you have automatic bill payments or transfers set up, change them to a different account or cancel them. Bank of America will not process transactions to a closed account, and your payments may fail.
Check whether this savings account is linked to a checking account for overdraft protection. Closing the savings account does not close the checking account, but overdraft transfers will no longer work. If you rely on overdraft protection, set up a backup plan or link a different savings account before closing.
What happens after you close your account
Once closed, you cannot reopen the same account. If you want a Bank of America savings account again, you will need to open a new one. Your account number becomes inactive immediately, so any pending transactions to that account will fail. Bank of America keeps records of closed accounts for your file, so you can reference the account history if needed.
If you had a debit card tied to this account, it will no longer work for withdrawals from this savings account. If the debit card was linked to a checking account as well, it will still work for that checking account. You do not need to request a new debit card unless you want one.
Frequently Asked Questions
Can I close my savings account if it has a negative balance or fees?
You must pay off any negative balance or outstanding fees before Bank of America will close the account. If your account is overdrawn, deposit funds to bring it to zero or positive first. The representative will tell you the exact amount owed during the closure process.
What if I have a hold on my savings account?
A hold prevents you from withdrawing funds, but it does not prevent closure. Bank of America can close the account even with a hold in place. The hold remains on the funds; if the hold is released after closure, the money goes to the address on file or the account you designated during closure.
How long does it take to close a savings account?
Phone and in-person closure complete the same day or next business day. Online closure, if available, takes one business day. If you request a check for your balance, the check arrives within 7 to 10 business days after closure.
Will closing my savings account affect my credit score?
Closing a savings account does not affect your credit score. Savings accounts are not reported to credit bureaus. Only credit accounts like credit cards, loans, and lines of credit appear on your credit report.
Can I reopen the same savings account after closing it?
No. Once you close a Bank of America savings account, that account number is retired and cannot be reopened. You can open a new savings account with Bank of America, but it will have a different account number.