You can close most Bank of America accounts online through your account settings, but the process depends on your account type and balance
Bank of America lets you close checking and savings accounts through their website or mobile app without calling or visiting a branch. The steps take about five minutes if your account has no outstanding transactions. However, some account types — like investment accounts or accounts with pending transfers — require a phone call to close.
Before you start, make sure your account balance is zero or close to it. Bank of America will not close an account with money still in it. If you have checks outstanding or automatic payments scheduled, those need to clear first. Once closed, your account number becomes inactive and cannot be reopened.
Key Takeaways
- You can close checking and savings accounts online through the Bank of America website or mobile app if your balance is zero and no transactions are pending.
- You must withdraw or transfer all remaining funds before closing, and wait for any outstanding checks or automatic payments to clear.
- Some account types, including investment and retirement accounts, require a phone call to close rather than an online process.
- After closing, your account number becomes inactive and the account cannot be reopened, so keep records of any final statements.
Steps to close your account through the Bank of America website
Log into your Bank of America account at bankofamerica.com. Go to the Settings section, usually found in the top right corner of the page. Look for an option labeled "Close Account" or "Account Services" — the exact wording varies depending on when your account was created.
Select the account you want to close from the dropdown menu. Bank of America will show you your current balance and ask you to confirm that it is zero. If your balance is not zero, you will need to withdraw the funds first or transfer them to another account. Complete the confirmation steps, and your account will be marked for closure. The process typically takes one to two business days to finalize.
If you cannot find the close account option in Settings, try looking under "Account Details" or "Manage Accounts." The location shifts occasionally with website updates. If you still cannot locate it, the phone method described below will work instead.
How to close your account using the mobile app
Open the Bank of America mobile app and log in. Tap the menu icon (three horizontal lines) at the bottom right of the screen. Select "Settings," then look for "Account Services" or "Close Account."
Choose the account you want to close and confirm that your balance is zero. Follow the on-screen prompts to complete the closure request. Like the website method, closure takes one to two business days after you submit the request.
What to do if your account has a balance or pending transactions
If you have money in your account, withdraw it at an ATM, transfer it to another bank account, or request a check from Bank of America. You can transfer funds to another account within Bank of America when ready using their transfer tool, or to an outside bank using external transfer (which takes one to three business days).
If you have automatic payments or recurring transfers set up, cancel them before closing. Check your recent statements for any scheduled transactions that have not yet posted. Once you close the account, Bank of America will reject any payments or transfers that try to use that account number, which could trigger late fees or overdraft charges with the other party.
If you have outstanding checks you wrote that have not cleared, wait until they post before closing. You can check the status of a check through your transaction history. Some checks take weeks to clear, so if you are in a hurry, you can call Bank of America to ask whether they can expedite the closure once all known checks have posted.
Account types that require a phone call to close
Investment accounts, brokerage accounts, and retirement accounts (IRAs, 401(k)s) cannot be closed online. You must call Bank of America at 1-800-432-1000 to close these accounts. The same applies if your account is linked to a credit line or if you have a business account.
If you have a joint account, both account holders may need to authorize the closure. Bank of America will tell you whether the second person needs to be present or can authorize by phone. Some branches will also close accounts in person if you prefer to do it face-to-face.
What happens after you close your account
Your account number becomes inactive when ready after closure. You will not be able to reopen the same account or reuse the account number. Bank of America will mail you a final statement showing the closure date and any remaining balance (which should be zero).
Keep this final statement for your records, especially if you had automatic payments or subscriptions tied to that account. If a company tries to charge the closed account after closure, you will have proof of when the account was closed. You may also need the final statement for tax purposes if the account earned interest.
If you closed the account by mistake or change your mind, you cannot reopen it. You would need to open a new account instead. New accounts receive a new account number and may have different terms or fees depending on when you open them.
Frequently Asked Questions
Can I close my account if I still have a small balance?
No. Bank of America requires your balance to be zero before closing. Withdraw the remaining funds or transfer them to another account first. Even a balance of one cent will prevent the closure from going through.
How long does it take for my account to fully close?
One to two business days after you submit the closure request online. If you call to close, it may happen the same day, but the final processing still takes one to two business days. You will receive a confirmation email once the closure is complete.
What if I have a pending direct deposit that will hit after I close?
Bank of America will reject the deposit and return it to the sender. Contact your employer or the organization sending the deposit and provide your new account number before closing. Wait until you confirm the direct deposit has been redirected before closing the account.
Do I need to close my account in person at a branch?
No, the online and app methods work for most checking and savings accounts. You only need to visit a branch if you have an account type that requires phone closure and prefer to do it in person, or if you want a staff member to walk you through the process.
Will closing my account hurt my credit score?
Closing a checking or savings account does not affect your credit score. Credit scores are based on credit accounts like credit cards and loans, not deposit accounts. However, if you close a credit card, that can have a small impact on your score.