Close your account by phone, in person, or through the mail

Bank of America lets you close an Advantage Savings account through three routes: calling their customer service line at 1-800-432-1000, visiting a local branch in person, or sending a written request by mail. The fastest method is usually a phone call during business hours, which takes about 10 to 15 minutes. If you go to a branch, bring a photo ID and your account number. If you mail a request, send it to the address on your statement and allow 7 to 10 business days for processing.

Before you close, withdraw or transfer any remaining balance. Bank of America will not hold your money after the account closes, but the process of returning funds can take several days. If you have pending transactions or automatic bill payments linked to this account, those will fail once the account is closed, so redirect them first.

Key Takeaways

  • Phone closure at 1-800-432-1000 is the fastest option and takes about 10 to 15 minutes during business hours.
  • You must withdraw or transfer your remaining balance before closing; Bank of America will not hold funds after the account is closed.
  • Cancel or redirect any automatic payments, direct deposits, or bill payments tied to the account before you close it.
  • In-person closure at a branch requires a photo ID and your account number; mail closure takes 7 to 10 business days.
  • After closure, keep your final statement and confirmation number for your records in case questions arise later.

Withdraw or transfer your balance before closing

Any money in your Advantage Savings account must leave the account before it closes. You can withdraw cash at an ATM or teller, transfer the balance to another Bank of America account you own, or move it to an account at a different bank. If you transfer to another bank, use an external transfer (sometimes called a wire or ACH transfer), which typically takes 1 to 3 business days.

If you have a small balance and forget to withdraw it, contact Bank of America within 30 days of closure. After that window, unclaimed funds go to your state's unclaimed property program, and retrieving them becomes more complicated. Write down your final balance before you close so you can verify it was transferred correctly.

Stop automatic payments and direct deposits

Any automatic bill payments, recurring transfers, or direct deposits tied to this account will fail once it closes. Log into your Bank of America online account or call 1-800-432-1000 to review what is linked to the Advantage Savings account. Common items include automatic transfers to other accounts, subscription payments, or payroll direct deposits.

For each automatic payment, log into the biller's website (your utility company, insurance provider, etc.) and update the payment method or account number. For direct deposits like paychecks, contact your employer's payroll department and provide your new account number. Allow at least one pay cycle for the change to take effect, so do this before you close the account.

What happens to your debit card and checks

If your Advantage Savings account came with a debit card, that card will stop working once the account closes. You do not need to do anything special—it will simply decline at checkout. If you want to destroy it for security, cut it in half and throw it away.

Savings accounts do not typically come with checks, but if yours did, those checks will bounce after closure. Do not write any new checks once you have initiated the close. If you wrote checks that have not cleared yet, wait for them to process before closing the account, or contact Bank of America to delay the closure date.

Close by phone during business hours

Call 1-800-432-1000 and tell the representative you want to close your Advantage Savings account. Have your account number and photo ID information ready. The representative will confirm your identity, verify that your balance is zero or that you want to transfer remaining funds, and ask why you are closing (this is optional to answer). They will then process the closure and give you a confirmation number.

Write down the confirmation number and the date and time of the call. Ask the representative to email or mail you a written confirmation. If you do not receive written confirmation within 5 to 7 business days, call back with your confirmation number and request it again. Keep this confirmation for your records.

Close in person at a Bank of America branch

Visit any Bank of America branch during business hours with your photo ID and your account number (found on your debit card or statement). Tell the teller you want to close your Advantage Savings account. They will verify your identity, confirm your balance is zero or arrange a transfer, and process the closure. The entire visit usually takes 10 to 15 minutes.

Ask for a written confirmation receipt before you leave the branch. If the branch cannot print one immediately, ask them to mail it to you. Keep this receipt as proof of closure in case you need it later for tax or credit purposes.

Close by mail if you cannot visit or call

Write a letter to Bank of America requesting closure of your Advantage Savings account. Include your full name, account number, the date, and your signature. State that you want the account closed and that your balance is zero (or specify that you have transferred the balance). Mail it to the address listed on your most recent statement under "Customer Service" or "Account Services."

Send the letter via certified mail with return receipt so you have proof it arrived. Allow 7 to 10 business days for Bank of America to process the request. After that time, log into your online account or call 1-800-432-1000 to confirm the account is closed. If it is not, follow up with the confirmation number from your certified mail receipt.

Frequently Asked Questions

Can I reopen my account after I close it?

Bank of America may let you reopen a closed account within 30 days if you contact them quickly. After 30 days, reopening becomes much harder and may require a new account application. If you think you might need the account again soon, consider pausing automatic payments instead of closing.

What if I have a negative balance when I try to close?

You cannot close an account with a negative balance. You must deposit enough money to bring the balance to zero first. Call 1-800-432-1000 and ask how much you owe, then deposit that amount before attempting to close again.

Will closing my account hurt my credit score?

Closing a savings account does not affect your credit score because savings accounts do not appear on your credit report. Only credit accounts like credit cards, loans, and lines of credit show up on your credit history.

How long does it take for the account to fully close?

The closure itself is immediate once you complete the process by phone, in person, or by mail. However, any pending transactions may take a few more days to clear. Your account will no longer accept new deposits or withdrawals once it is closed.

What if I closed the account but money is still being deposited to it?

Contact the organization sending the deposit (your employer, government agency, etc.) and provide them with your new account number. Bank of America will eventually return deposits to the sender, but this can take weeks. It is faster to update the account information at the source.