You can close a Bank of America savings account through their website, by phone, or in person at a branch
The fastest way is online through your Bank of America account dashboard if you have no outstanding holds or pending transactions. You log in, navigate to the account settings, and request closure—the process takes about five minutes. If you have a balance, Bank of America will mail you a check or transfer the funds to another account you specify. If you cannot access online banking or your account has complications (a freeze, a pending dispute, or a very recent deposit), you will need to call or visit a branch instead.
Before you close, make sure any automatic payments or direct deposits tied to that account are moved elsewhere. Once the account is closed, transactions tied to it will fail, and you may face overdraft fees or missed bill payments if you do not redirect them first.
Key Takeaways
- Online closure through your Bank of America dashboard is the fastest method and takes about five minutes if your account is in good standing.
- You must redirect any automatic payments or direct deposits before closing, or they will fail and may trigger fees.
- Bank of America will return your remaining balance by check or electronic transfer to another account you provide.
- If your account has a hold, pending dispute, or recent large deposit, you must call 1-800-432-1000 or visit a branch to close it.
- After closure, the account number becomes inactive and cannot be reopened under the same number.
Steps to close your account online
Log into your Bank of America account at bankofamerica.com using your username and password. Once you are in your dashboard, look for the account you want to close and select it. Click on the settings or account details option—this is usually a gear icon or a menu labeled "Manage This Account."
Look for a link or button that says "Close Account" or "Request Account Closure." Click it and follow the prompts. Bank of America will ask you to confirm the closure and may ask why you are closing. You do not have to provide a reason, but the form may have a dropdown menu with options like "Opening another account" or "Low balance." Select whatever applies or skip it if the field is optional.
At the final step, you will be asked how you want your remaining balance returned. Choose either a check mailed to your address on file or an electronic transfer to another bank account. If you choose transfer, you will need to provide the routing number and account number of the receiving bank. After you confirm, you will see a closure confirmation number on screen—write this down or take a screenshot.
What happens to your money and when
If you requested a check, Bank of America will mail it within 5 to 7 business days. The check will be sent to the mailing address on file for your account. If you moved recently and did not update your address, the check may go to an old location—update your address in your account settings before you request closure.
If you chose electronic transfer, the funds will move to the receiving account within 1 to 3 business days, depending on the receiving bank. The transfer is free. Once the money leaves your Bank of America account, the account will be marked as closed and you will no longer be able to use the debit card or access it online.
If your account has a negative balance (you owe Bank of America money), they will not close the account until the debt is paid. Call 1-800-432-1000 to discuss payment options before you attempt to close online.
Redirect automatic payments and direct deposits before closing
Any automatic bill payments set up through that savings account will fail once the account closes. This includes recurring charges like insurance premiums, subscription services, loan payments, or utility bills. Log into each service or company website and update the payment method to a different bank account or credit card before you close the savings account.
If your paycheck or other regular deposits go directly to this savings account, contact your employer or the organization sending the deposit and provide them with your new account number at another bank. This can take one to two pay periods to take effect, so make the change as soon as possible.
If you miss redirecting a payment and it fails after closure, you may see a returned-payment fee from the company trying to charge you, or a late fee if a bill payment bounced. These fees are the responsibility of the company or service, not Bank of America, so you will need to contact them directly to dispute or reverse the charge.
When you cannot close online and must call or visit a branch
Bank of America will not allow online closure if your account has an active hold, a pending dispute, or a recent large deposit that is still being verified. You also cannot close online if you have a negative balance or if fraud has been reported on the account.
In these cases, call Bank of America at 1-800-432-1000 and select the option for account services. A representative will review your account and either clear the hold or walk you through closure over the phone. If you prefer to close in person, visit any Bank of America branch with a photo ID and your account number. Bring any documents related to holds or disputes if you have them.
Closing in person takes about 10 to 15 minutes. The branch can issue you a cashier's check for your balance on the spot, or process an electronic transfer to another account. This is the fastest way to get your money if you need it immediately.
What to do after your account is closed
Once your account is closed, you will no longer receive statements or see the account in your online dashboard. Bank of America keeps a record of the closed account for your file, but you cannot reopen it under the same account number. If you need a savings account again, you will have to open a new one.
Keep the closure confirmation number and any documentation (like a final statement or the check image) for your records. If a payment fails after closure and you need to prove the account was closed on a specific date, this documentation will help you dispute the charge with the company that tried to process it.
If you closed the account but still see charges or activity on it weeks later, contact Bank of America immediately. This can indicate fraud or a processing error. Call 1-800-432-1000 and reference your closure confirmation number.
Frequently Asked Questions
Can I close my savings account if it has a zero balance?
Yes. You do not need to wait for the account to reach zero—you can close it at any balance, including zero. If there is money in the account when you close, Bank of America will return it by check or transfer. If the balance is zero, the account will simply be marked closed.
What if I close my account but forget to redirect a direct deposit?
The deposit will be rejected and returned to the sender. If it is your paycheck, your employer will see the rejection and may hold the funds or ask you to provide a new account number. Contact your payroll department as soon as you realize the mistake and provide your new account information. Future deposits will go through once the system is updated.
How long does it take for my account to be fully closed?
The closure request is processed immediately online, but the account may remain in the system for 5 to 10 business days before it is completely deactivated. During this time, you should not attempt to use the debit card or make deposits. After 10 business days, the account will no longer appear in your online banking.
Can I reopen a closed Bank of America savings account?
No. Once closed, the account number is deactivated permanently and cannot be reopened. If you want a savings account again, you will need to open a new one. The new account will have a different account number.
What if Bank of America owes me money after I close the account?
If there is a balance in your favor (interest earned, a refund, or a credit), Bank of America will include it in the final balance they return to you by check or transfer. Make sure you provide the correct receiving account information so the full amount reaches you.