You can close a Bank of America savings account in person, by phone, or online, depending on your account type and what you need to do first
Before you close, make sure your account balance is zero or move any remaining money to another account. Bank of America does not charge a fee to close a savings account, but they will not close it if there is still money in it. Once the balance is cleared, you can initiate the closure through any of three routes: visiting a branch in person, calling customer service, or using the online banking platform if your account type supports it.
The entire process usually takes a few minutes if you do it in person or by phone. Online closure may take longer to process and is not available for all account types — if you have a Money Market account or certain specialty savings products, you will need to call or visit a branch instead.
Key Takeaways
- Your savings account balance must be zero before Bank of America will close the account; transfer or withdraw any remaining funds first.
- You can close in person at any Bank of America branch, by calling 1-800-432-1000, or through online banking if your account type allows it.
- Closing takes a few minutes by phone or in person, but online requests may take several business days to process.
- Bank of America does not charge a closure fee, but check your account for any pending transactions or holds before you initiate the close.
Closing your account in person at a branch
Walk into any Bank of America branch with your ID and ask to close your savings account. Bring your debit card or account number so the teller can pull up your account quickly. The teller will confirm your balance is zero, ask why you are closing (this is optional to answer), and process the closure on the spot. You will receive a confirmation number and a receipt showing the account is closed.
This method is fastest if you have a branch nearby and your account is already at zero. If your account still has money, the teller can help you transfer it to another account or withdraw it before closing. Bring two forms of ID if possible — a driver's license and a credit card, or a passport — to speed up verification.
Closing your account by phone
Call Bank of America customer service at 1-800-432-1000 and tell them you want to close your savings account. Have your account number or the phone number associated with your account ready. The representative will verify your identity by asking security questions, confirm your balance is zero, and process the closure over the phone.
The entire call usually takes 5 to 10 minutes. You will receive a confirmation number at the end of the call; write it down or ask the representative to email it to you. If your account still has money, the representative can walk you through transferring it to another Bank of America account or arranging a check to be mailed to you. Checks typically arrive within 5 to 7 business days.
Closing your account online
Log into your Bank of America online banking account and look for account settings or account management. Not all savings account types allow online closure — if you have a Money Market account, a CD (certificate of deposit), or a specialty savings product, you will need to call or visit a branch instead. Standard savings accounts usually support online closure.
If the option is available, select "Close Account" and follow the prompts. Your balance must be zero before you can proceed. After you submit the request, Bank of America will send you a confirmation email within one business day. The account closure itself may take several business days to finalize in the system, but you will not be able to use the account once you submit the request.
What to do with your money before closing
If your savings account has a balance, you must move or withdraw that money before Bank of America will close the account. You have three options: transfer the money to another Bank of America account you own, transfer it to an account at a different bank, or withdraw it in cash or by check.
Transfers between your own Bank of America accounts happen instantly. Transfers to another bank take 1 to 3 business days using external transfer, or you can withdraw cash at a branch or ATM and deposit it yourself. If you request a check, it will be mailed to the address on file and typically arrives within 5 to 7 business days. Do not close the account until the money has left — if you close first, you may have trouble accessing funds that are still in the account.
Checking for pending transactions and holds
Before you close, log into your account or call customer service to check for any pending transactions, automatic payments, or holds. A pending transaction is money that has been authorized but not yet withdrawn — it will show as a hold on your available balance. Automatic bill payments or recurring transfers set to come out of this account will fail once it is closed, which could result in late fees or service interruptions.
Cancel any automatic payments or recurring transfers linked to the account at least one week before you close. If you have a pending debit card transaction, wait for it to clear before closing. If there is a hold on your account from a check you deposited or a merchant dispute, contact customer service to find out when it will be released — you cannot close the account until the hold is gone.
What happens after you close the account
Once your account is closed, you will no longer be able to deposit money, withdraw money, or access it online. Any debit card linked to the account will stop working. If you have checks printed for this account, they will be rejected if you try to use them after closure.
Bank of America will keep records of the closed account for your files. If you need a statement or transaction history after closure, you can request it by calling customer service or visiting a branch — they can usually provide statements for up to seven years. If you later realize you need to reopen a savings account, you can do so at any branch or online, though you will be opening a new account with a new account number.
Frequently Asked Questions
Does Bank of America charge a fee to close a savings account?
No. Bank of America does not charge a closure fee for savings accounts. However, if your account has been overdrawn or has an outstanding balance owed to the bank, that amount must be paid before closure.
What if I close my account but still have money in it?
Bank of America will not close the account if there is a balance. You must transfer or withdraw all funds first. If you accidentally close an account with money still in it, contact customer service immediately — they may be able to reopen it or help you recover the funds.
Can I close my savings account if I have a linked checking account?
Yes. Closing one account does not affect the other. However, if you have automatic transfers set up between them, cancel those transfers before closing the savings account to avoid failed transactions.
How long does it take to close a savings account online?
The request processes within one business day, and you will receive a confirmation email. The account may take several more business days to fully close in the system, but you cannot use it once you submit the request.
What if I want to reopen the same account after closing it?
You cannot reopen a closed account. If you change your mind, you will need to open a new savings account, which will have a different account number. You can do this at any branch or through online banking.