The fastest way to close a Bank of America savings account
You can close a Bank of America savings account in person at any branch, by phone, or online through your account settings. The in-person route is fastest if you need to withdraw remaining funds immediately; by phone takes about 10 to 15 minutes and works if you've already moved money out; online closure works only if your account has a zero balance and no pending transactions.
Before you close, move any money you want to keep to another account—either another Bank of America account or an external bank. Bank of America does not charge a fee to close a savings account, but they will not transfer the balance for you. Any funds left in the account when it closes are mailed to you as a check, which can take one to two weeks.
If you have a linked checking account, closing the savings account does not affect it. If you have automatic transfers set up (like direct deposit or bill payments), those will fail once the account closes, so cancel or redirect them first.
Key Takeaways
- Move your money out before closing—Bank of America will not transfer it for you, and leftover funds arrive by check in one to two weeks.
- Cancel any automatic transfers, recurring payments, or direct deposits linked to the savings account before you close it.
- In-person closure at a branch is fastest if you need to withdraw cash; phone closure works if the account is already empty.
- Bank of America charges no fee to close a savings account, and closing one account does not affect any other accounts you hold.
- Online closure through your account settings is available only if your balance is zero and no transactions are pending.
Closing in person at a Bank of America branch
Walk into any Bank of America branch with your ID and ask to close your savings account. A teller can do this on the spot. Bring your debit card or account number so they can pull up your account quickly. If your account has a balance, ask the teller how you want to handle it: withdraw as cash, transfer to another account, or receive a check by mail.
The teller will confirm the account has no pending transactions and no automatic payments set to that account. They will then close it and give you a receipt. If you withdrew cash, you are done. If you asked for a check, it will arrive within one to two weeks.
This method works best if you want to withdraw your balance in cash or if you prefer to handle it face-to-face. Bring your ID; some branches may ask for a second form of identification.
Closing by phone with Bank of America customer service
Call Bank of America at 1-800-432-1000 (the number on the back of your debit card or on your statements). Tell the representative you want to close your savings account. They will ask for your account number and verify your identity by asking security questions.
Before the call, make sure your account balance is zero. If there is money in it, the representative will ask how you want to handle it. You can ask them to transfer it to another Bank of America account you own, or they can mail you a check. Phone closure typically takes 10 to 15 minutes.
The representative will confirm that no automatic payments or transfers are linked to the account. Once confirmed, they will close it and provide a confirmation number. Write down this number for your records.
Closing online through your Bank of America account
Log into your Bank of America online account or mobile app. Go to your savings account details and look for a "Close Account" or "Account Services" option. This option appears only if your balance is exactly zero and no transactions are pending.
If you see the option, click it and follow the prompts to confirm closure. Bank of America will send you a confirmation email. This method is the quickest if your account is already empty, but it is not available if you have any balance remaining.
If the online option does not appear, your account either has a balance or a pending transaction. Move the balance out first, wait for any pending transactions to clear (usually one to two business days), then try again.
What to do before you close your account
Check for any automatic payments, recurring transfers, or direct deposits tied to the savings account. Log into your account online or call 1-800-432-1000 to review recent activity and upcoming scheduled transactions. Common ones include automatic savings transfers, bill payments, or payroll deposits.
Cancel or redirect these before closing. If you cancel a direct deposit, you will need to update your employer or benefits provider with a new account number. If you have automatic bill payments set up, move them to your checking account or another bank account at least a few days before you close the savings account.
Check your account for any holds or restrictions. If your account is overdrawn or flagged, Bank of America may not allow you to close it until the issue is resolved. Call customer service if you are unsure.
What happens to your money when you close
Any balance remaining in your savings account when it closes is mailed to you as a check. This check is sent to the address on file with Bank of America. The check arrives within one to two weeks, though it can take longer during high-volume periods.
If you move the money out yourself before closing, there is nothing to mail. This is the fastest and most reliable way to make sure you have access to your funds immediately.
If you do not cash the check within a certain time (usually three to five years, depending on state law), the funds may be turned over to your state's unclaimed property program. You can still claim them, but you will need to contact your state's treasurer office.
Closing a joint savings account
If the savings account is held jointly with another person, both account holders must consent to close it. You cannot close a joint account on your own. Contact Bank of America and ask about your options: you may be able to remove yourself from the account and let the other person keep it open, or both of you can agree to close it together.
If you want to remove yourself but keep the account open, the other account holder will need to visit a branch or call customer service to authorize the change. The account will then be in their name only.
Frequently Asked Questions
Will closing my savings account hurt my credit?
No. Closing a savings account does not affect your credit score. Credit bureaus track credit accounts (credit cards, loans, lines of credit), not deposit accounts. Closing a checking or savings account has no impact on your credit history or score.
What if I have a pending direct deposit?
If a direct deposit is scheduled to hit the account after you close it, the deposit will be rejected and returned to the sender (your employer or benefits provider). Update your direct deposit information with your employer or benefits provider before you close the account, or wait until the deposit clears first.
Can I reopen the account after I close it?
Bank of America can reopen a recently closed account in some cases, but it depends on how long ago it was closed and the reason it was closed. Call 1-800-432-1000 to ask. If the account was closed more than a few months ago, you may need to open a new account instead.
Do I need to close the account in the same state where I opened it?
No. You can close your account at any Bank of America branch, by phone, or online, regardless of where you opened it or where you live now. The account is part of the same national system.
What if there is a fee on my account?
Bank of America does not charge a fee to close a savings account. If your account has an outstanding fee (like an overdraft fee from a linked checking account), you should pay it before closing. Ask the teller or representative if any fees are owed.