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 have cash or checks to withdraw—the banker can close the account on the spot. By phone, call the number on the back of your debit card or 1-800-432-1000 and ask for account closure; the process takes about 10 minutes. Online closure through the mobile app or website works if your account has a zero balance, though you may need to call if there are pending transactions or a small remaining balance.
Before you close, withdraw or transfer any remaining money, pay off any overdraft fees or negative balance, and make sure no automatic payments or direct deposits are still tied to the account. Bank of America will not close an account with an outstanding balance. If you have a linked checking account, closing the savings account does not affect it.
Key Takeaways
- You must have a zero balance before Bank of America will close your savings account; withdraw or transfer any remaining funds first.
- In-person closure at a branch is the fastest method and gives you immediate confirmation, while phone closure takes about 10 minutes.
- Cancel any automatic payments, transfers, or direct deposits linked to the savings account before you close it.
- Closing a savings account does not affect any other accounts you hold at Bank of America, including checking accounts.
- Keep your final statement or confirmation number for your records in case questions arise later about the closure.
Preparing your account for closure
The single requirement Bank of America enforces is a zero balance. If you have money in the account, transfer it to another bank account or withdraw it in cash. If you owe money—an overdraft or unpaid fee—you must pay that before closure is possible. Log into your account online or call 1-800-432-1000 to check your exact balance, including any pending charges.
Next, stop any recurring activity tied to the account. Check whether you have automatic bill payments, automatic transfers to or from other accounts, or direct deposits going to this savings account. You can see these in your online account under "Transfers" or "Bill Pay." Cancel each one at least a few days before you close the account. If a direct deposit or payment processes after closure, it may bounce or be returned, which can create problems with the payee or biller.
If the account is a joint account, both owners must agree to close it. Call the bank to confirm whether both signatures or authorizations are needed for your specific account type.
Closing in person at a Bank of America branch
Walk into any Bank of America branch with your ID and debit card. Tell the banker you want to close your savings account. They will verify your identity, confirm the balance is zero, and process the closure on the spot. This usually takes 5 to 10 minutes. Ask for a written confirmation or note down the date and the banker's name for your records.
Bring any remaining cash or checks with you if you want to withdraw funds during the same visit. The banker can process the withdrawal and closure together. If you prefer, you can withdraw the money a few days earlier and return just to close the account.
Closing by phone with Bank of America customer service
Call 1-800-432-1000 and select the option for account services. 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 or confirming recent transactions. The call typically lasts 10 to 15 minutes.
The representative will confirm your balance is zero and that no automatic payments are pending. Once confirmed, they will close the account and provide you with a confirmation number. Write down this number and the date of the call. Ask the representative to email or mail you a written confirmation if you want a paper record.
If you have a remaining balance, the representative will tell you how to withdraw or transfer it before they can close the account. They cannot close an account with money in it over the phone.
Closing through the Bank of America app or website
Log into your Bank of America account online or through the mobile app. Go to your savings account details and look for an option labeled "Close Account," "Account Settings," or "Manage Account." The exact wording varies by device and app version. Click that option and follow the prompts.
The system will confirm your balance is zero before letting you proceed. If your balance is not zero, you will be directed to withdraw or transfer the money first. Once you confirm closure, the account closes immediately, and you should receive an on-screen confirmation number. Take a screenshot or note the number for your records.
Online closure works smoothly only if there are no pending transactions, overdrafts, or linked automatic payments. If you run into an error or the system will not let you proceed, call 1-800-432-1000 instead—the phone route can handle more complex situations.
What happens after you close your account
Bank of America will send you a final statement showing the closure date and any remaining activity. This statement arrives by mail within 7 to 10 business days, or you can view it online for a few months after closure. Keep this statement for your tax records and as proof the account is closed.
If you had overdraft protection linked between your savings and checking account, that link is removed when the savings account closes. Your checking account remains open and unaffected. Any other Bank of America accounts you hold are not touched.
If a payment or deposit tries to post to the closed account after closure, it will be rejected and returned to the sender. This is why canceling automatic payments beforehand is important. If you forget and a payment bounces, contact the biller or payee to update your payment method.
Frequently Asked Questions
Can I reopen a Bank of America savings account after I close it?
Yes. You can open a new savings account at any time by visiting a branch, calling 1-800-432-1000, or using the mobile app. There is no waiting period. The new account will have a different account number, so you will need to update any automatic transfers or deposits that were linked to the old account.
What if I have a small balance left but cannot withdraw it?
Call 1-800-432-1000 and explain the situation. If the balance is very small (under $5), the bank may waive it and close the account. If not, you can ask the representative to transfer the remaining balance to your checking account or another linked account, then close the savings account.
Do I need to close my account in person, or can I do it remotely?
You can close by phone or online if your balance is zero and there are no complications. In-person closure is not required, though some people prefer it for immediate confirmation. Choose whichever method is most convenient for you.
Will closing my savings account hurt my credit score?
No. Closing a savings account does not affect your credit score because savings accounts are not reported to credit bureaus. Only credit accounts like credit cards, loans, and lines of credit impact your credit history.
What if I have pending direct deposits or automatic payments when I close?
Cancel them before you close the account. If a payment or deposit processes after closure, it will bounce and be returned to the sender. You will need to contact the biller or employer to update your payment method or direct deposit information to avoid missed payments or delayed paychecks.