You can close a Bank of America savings account online through your account settings, but you'll need to move your money first and confirm the closure by phone or in person
Bank of America does not offer a fully online account closure for savings accounts. You can initiate the process through your online banking portal or mobile app, but you must complete it with a phone call to customer service or a visit to a branch. The bank requires this final step to verify your identity and confirm you want to close the account.
Before you close, move any remaining balance to another account—either another Bank of America account or an external bank. The bank will not mail you a check for small balances, and funds left in a closed account can be difficult to recover. Once your balance is zero, you can request closure through your online account or call 1-800-432-1000 to complete it.
Key Takeaways
- Transfer your full balance out of the savings account before requesting closure, since Bank of America will not send a check for remaining funds.
- You can start the closure request online or through the mobile app, but must finish the process by phone or in a branch.
- Call 1-800-432-1000 during business hours to confirm closure; have your account number and Social Security number ready.
- The account closes within one to two business days after you complete the phone or in-person confirmation.
- If you have pending transactions or holds on the account, wait for them to clear before closing.
Steps to close your savings account online
Log into your Bank of America online banking account or open the mobile app. Navigate to your savings account and look for account settings or account management options—the exact location varies slightly between the website and app, but both have a settings menu.
Select the option to close the account. Bank of America will show you a confirmation screen with your current balance. If the balance is not zero, you must transfer the money out first. The system will not let you proceed to closure with an active balance.
After you confirm the online request, Bank of America will prompt you to call customer service or visit a branch to finalize the closure. Write down the reference number the system provides—you'll need it when you call.
Moving your money before closure
Transfer your full balance to another account using Bank of America's online transfer tool. You can move money to another Bank of America account you own, or to an external bank account you've already linked to your profile.
To link an external account, go to the transfer section of your online banking and select "Add external account." You'll provide the routing number and account number of the receiving bank. Bank of America will verify the account by depositing two small amounts (usually under $1 each) and asking you to confirm those amounts. This verification takes one to two business days.
Once the external account is verified, you can transfer your full balance immediately. The transfer typically arrives within one to three business days, depending on the receiving bank. Do not close your savings account until the money has arrived at the destination.
Completing closure by phone
Call Bank of America customer service at 1-800-432-1000. Have your account number, Social Security number, and the reference number from your online closure request ready. The representative will verify your identity and confirm that your balance is zero.
The representative will ask why you're closing the account—this is routine and does not affect your ability to close. They will then process the closure and give you a confirmation number. Keep this number for your records.
The account will close within one to two business days. You will not receive a confirmation letter in the mail, but you can log into your online banking to verify the account no longer appears in your account list.
Closing the account in person at a branch
If you prefer not to call, visit any Bank of America branch with a photo ID and your account number. Tell the representative you want to close your savings account. They will verify your balance is zero and process the closure on the spot.
The branch representative will print a confirmation receipt showing the closure was processed. Ask for a copy to keep. The account will close within one to two business days, though it may disappear from your online banking immediately.
Branch hours vary by location. Use the Bank of America branch locator on their website to find the nearest branch and confirm hours before you go.
What happens to pending transactions and holds
If your account has a pending transaction—a charge that has not yet posted—or a hold placed by the bank or a merchant, you cannot close the account until it clears. Wait for the transaction to post or the hold to release before you attempt closure again.
Holds typically last three to five business days. If a hold is older than that, call customer service to ask why it is still active. Some holds from merchants (like rental car companies or hotels) can last longer if the merchant has not yet charged the final amount.
Frequently Asked Questions
What happens if I close my account with a negative balance?
Bank of America will not allow you to close an account with a negative balance. You must deposit funds to bring the balance to zero before closure. If you do not, the bank may close the account on its own after 60 days and send you a bill for the amount owed.
Can I reopen a closed savings account?
Yes, you can open a new savings account at any time. However, if your account was closed due to inactivity or a negative balance, Bank of America may flag your profile. Call customer service to discuss your situation before opening a new account.
Will closing my savings account affect my credit score?
No. Closing a savings account does not appear on your credit report and does not affect your credit score. Only credit accounts—credit cards, loans, lines of credit—impact your credit history.
How long does it take for the account to disappear from my online banking?
The account usually disappears from your account list within one to two business days after closure is confirmed. In some cases it may take up to five business days. If it is still showing after a week, call customer service to verify the closure was processed.
What if I need to access the account after I close it?
Once closed, you cannot access the account or make transactions. If you need to retrieve information about past transactions, contact Bank of America customer service and request account history. They can provide statements for closed accounts.