The fastest way to close your Bank of America savings account

You can close your Bank of America savings account in person at any branch, by phone at 1-800-432-1000, or online through your account settings if you have a linked checking account. You do not need to visit a branch — phone and online are equally valid. Before you close, withdraw or transfer any remaining balance, because once the account is closed, Bank of America will not reopen it.

If your account has a negative balance (you owe money), you must pay that amount before closing. If you have pending transactions or holds on the account, those must clear first. The closure itself takes effect immediately when you complete the request, though it may take a few business days for the account to stop appearing in your online banking.

Key Takeaways

  • You can close your savings account by phone, online, or in person at a branch — no method is faster than the others.
  • Withdraw or transfer your full balance before closing, because Bank of America will not reopen a closed account.
  • If your account has a negative balance or pending transactions, those must be resolved before the closure goes through.
  • Once closed, you cannot reverse the closure, so confirm you have moved all your money first.

Closing by phone

Call 1-800-432-1000 and tell the representative you want to close your savings account. Have your account number ready, which you can find on your debit card, a recent statement, or in your online banking portal. The representative will verify your identity by asking for your Social Security number, date of birth, and possibly other security questions.

The representative will confirm your account balance and ask how you want to handle any remaining funds. If the balance is small, they may offer to mail you a check. If it is larger, they will ask whether you want the money transferred to another account (yours or someone else's) or mailed. The transfer takes one to two business days if you provide another Bank of America account; transfers to accounts at other banks may take three to five business days.

After the call ends, you will receive a confirmation number. Write it down. The account closes immediately, though it may take a few business days to disappear from your online banking.

Closing online through your account

Log into your Bank of America online banking and navigate to Settings or Account Management (the exact location varies depending on whether you are on desktop or mobile). Look for an option to close an account or manage accounts. Select your savings account from the list.

Bank of America will show you your current balance and ask you to confirm the account has no pending transactions. If there are holds or pending charges, you must wait for those to clear before you can proceed. Once confirmed, the system will ask how you want to handle your balance — transfer to another Bank of America account, transfer to an external account, or request a check by mail.

If you choose a transfer, provide the receiving account number and routing number. If you request a check, Bank of America will mail it to the address on file within five to seven business days. After you submit the closure request, the account closes immediately.

Closing in person at a branch

Bring a valid photo ID and your debit card to any Bank of America branch during business hours. Tell the teller you want to close your savings account. They will pull up your account, confirm your identity, and show you your current balance.

The teller will ask how you want to receive any remaining funds. You can withdraw cash on the spot if the balance is not too large, request a check, or have the money transferred to another account. If you withdraw cash, the teller will count it in front of you and ask you to sign a receipt. If you request a check or transfer, the teller will process it the same way as a phone or online closure.

The account closes immediately. You will receive a receipt confirming the closure.

What happens to automatic payments and direct deposits

If you have automatic bill payments or direct deposits set to your savings account, those will fail once the account is closed. Before you close, update any automatic payments to point to a different account or cancel them. Contact your employer or the source of any direct deposits to change the account number.

If a payment attempts to post to your closed account, it will be rejected and returned to the sender. You will not be charged a fee for the rejection, but the payment may be late if the sender does not resubmit it quickly. This is why it is critical to move or cancel these transactions before closing.

Handling a negative balance or outstanding holds

If your account is overdrawn (negative balance), you must pay the full amount owed before Bank of America will close the account. You can do this by transferring money from another account, depositing cash at a branch, or having the representative deduct the amount from another Bank of America account you own.

If there are pending transactions or holds on the account — for example, a hold from a merchant or a pending wire transfer — you must wait for those to clear. Bank of America will not close the account while holds are active. The representative or online system will tell you when the holds are expected to clear, and you can attempt the closure again after that date.

After your account is closed

Once closed, your savings account cannot be reopened. Bank of America will not reactivate it under any circumstances. If you need a savings account again, you will have to open a new one, which means a new account number and a new start date for any interest calculations.

Your closed account will remain visible in your account history for several months, then disappear from your online banking. If you need a record of the closure for tax or financial planning purposes, download or print your final statement before the account closes. Bank of America keeps records of closed accounts, and you can request documentation by calling customer service, but it is easier to save it yourself while you still have access.

Frequently Asked Questions

Can I close my savings account if I have a pending direct deposit?

No. You must wait for the direct deposit to post first, then withdraw or transfer that money, then close the account. If you close before the deposit arrives, it will be rejected and returned to your employer. Contact your employer's payroll department to update your account information before closing.

What if I forgot my online banking password?

You can still close by phone or in person. For phone closure, call 1-800-432-1000 and the representative will verify your identity through security questions instead. For in-person closure, bring your ID and debit card to a branch.

How long does it take to receive a check after I close my account?

Bank of America typically mails checks within five to seven business days. The check is mailed to the address on file for your account. If you do not receive it within two weeks, call customer service to request a replacement or ask for a transfer to another account instead.

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 appear on your credit report.

Can someone else close my account for me?

Only if they are an authorized signer on the account. If you are the sole owner, only you can request closure. If you are unable to visit a branch or make a phone call, you can authorize someone to close it on your behalf by adding them as a signer first, though this requires a separate trip to the branch or a call to set up.