You can close a Bank of America Advantage Savings account in person, by phone, or online, but the method depends on your account status and whether you have a linked checking account
Bank of America lets you close an Advantage Savings account through three routes: visiting a branch in person, calling customer service, or using online banking if your account is in good standing. The fastest method is usually a phone call to the number on the back of your debit card or 1-800-432-1000, which takes about 10 minutes. If you have a linked checking account, closing the savings account does not affect it — they operate independently. Before you close, make sure any pending transactions have cleared and you have withdrawn or transferred your remaining balance.
The account must have a zero balance before Bank of America will close it. If you have overdraft protection linked to this savings account, the bank may require you to remove that connection first. Once closed, the account cannot be reopened; you would need to open a new one if you change your mind later.
Key Takeaways
- Call 1-800-432-1000 or visit your local branch to request closure; online closure is available only if your account is in good standing with no holds or disputes.
- Your account balance must be zero before Bank of America will process the closure.
- Closing a savings account does not affect any linked checking account or other products you hold.
- After closure, you cannot reopen the same account; you would need to open a new Advantage Savings account if you want one later.
- Keep your final statement for your records, especially if you had automatic transfers or direct deposits tied to this account.
Withdraw or transfer your balance before requesting closure
Bank of America will not close an account with money in it. Visit an ATM, a branch, or log into your online banking to move your remaining balance to another account — either another Bank of America account or an external bank. If you transfer to an external account, the transfer typically takes one to three business days, so plan ahead if you are closing soon.
If you have automatic transfers set up (for example, a monthly sweep from checking to savings), cancel those before you close. You can do this through online banking under "Transfers" or by calling the number on your card. Stopping the transfer prevents the account from receiving new deposits after you have requested closure, which can delay or block the closure process.
Call customer service or visit a branch to close the account
Phone closure is the most direct route. Call 1-800-432-1000 and tell the representative you want to close your Advantage Savings account. Have your account number ready (it appears on your statement or debit card). The representative will confirm your identity, verify the balance is zero, check for any holds or disputes, and process the closure. The call usually takes 5 to 15 minutes.
If you prefer to close in person, visit any Bank of America branch with a valid ID and your debit card or account number. The branch staff will verify your identity, confirm the zero balance, and submit the closure request. In-person closure can be faster if the branch is not busy, and you can ask questions face-to-face. Either way, ask for a confirmation number or reference number for your records.
Online closure is available only in certain situations
Bank of America allows online closure through its mobile app or website, but only if your account meets specific conditions: the balance must be zero, there can be no pending transactions, no holds or disputes, and the account must be in good standing. Log into your account, navigate to account settings, and look for a "Close Account" or "Account Services" option. Not all accounts show this option online; if you do not see it, phone or branch closure is your only choice.
If you see the option but the system will not let you proceed, it usually means one of the conditions above is not met. Call customer service to find out which one and resolve it before trying again online.
What happens to linked services and automatic payments
If you have overdraft protection that uses this savings account as the backup, removing that link is often required before closure. You can disable overdraft protection through online banking or by calling customer service. If you have automatic bill payments or transfers set to this account, those will fail once the account closes, so update those payments to a different account first.
Direct deposits to this account will bounce back to the sender after closure. If you receive regular deposits (paycheck, benefits, transfers from another person), update your direct deposit information with your employer or the sending organization before you close. This prevents money from being returned and the sender from being confused about where their payment went.
After closure: what to expect and what to keep
Once the closure is processed, the account is permanently closed and cannot be reopened. Bank of America will send you a final statement by mail within one to two billing cycles. This statement shows the closure date and your final balance (which should be zero). Keep this statement for your tax records and as proof of closure, especially if you had interest income from the account.
If you need to reference transactions from this account later, you can still view closed account history through online banking for a limited time (usually up to seven years), though this varies. Write down any transaction details you might need before the account closes, particularly if you are tracking expenses or reconciling records.
Frequently Asked Questions
Can I close my Advantage Savings account if I have a pending direct deposit?
No. Wait for the deposit to clear and post to your account, then withdraw or transfer the money before requesting closure. If a deposit arrives after you have requested closure, it will be returned to the sender, and you may need to contact Bank of America to retrieve it.
What if I have overdraft protection on this account?
You must remove overdraft protection before closing. Log into online banking, go to account settings, and disable it, or call customer service to have them remove it. Once disabled, you can proceed with closure.
Will closing this account hurt my credit score?
No. Closing a savings account does not affect your credit score because savings accounts do not appear on your credit report. Only credit products like credit cards, loans, and lines of credit impact your credit history.
How long does it take for the account to fully close?
The closure request is usually processed within one to three business days after you submit it. You will receive a confirmation by mail, and the account will no longer appear in your online banking shortly after.
Can I reopen the same account if I change my mind?
No. Once closed, that specific account cannot be reopened. You would need to open a new Advantage Savings account, which takes a few minutes online or at a branch.