Yes, you can close your Bank of America account at any time, with no penalty

Bank of America does not charge you to close a checking or savings account, and you do not need a reason. You can walk into a branch, call their customer service line, or handle it online depending on your account type and what you have linked to it. The process takes minutes to start, but moving money out and waiting for pending transactions to clear can take several days.

The real work is not the closing itself—it is preparing beforehand. If you have direct deposits, automatic bill payments, or linked services, you need to redirect those before you close the account, or they will fail and create overdraft fees or missed payments elsewhere.

Key Takeaways

  • You can close a Bank of America account in person at a branch, by phone at 1-800-432-1000, or online through your account settings, depending on your account type.
  • Before closing, move any remaining balance to another account, update direct deposits and automatic payments with your new bank, and wait for pending transactions to post.
  • Bank of America will not charge you to close the account, but you are responsible for any overdraft fees if transactions post after closure.
  • If you have a mortgage, credit card, or investment account with Bank of America, closing your checking or savings account does not affect those products.

What to do before you close the account

Start by moving your money. Transfer your full balance to another bank account you control. Bank of America will not hold your funds, but if you leave money in the account after it closes, you will have to contact them to retrieve it—a process that takes longer than moving it yourself.

Next, redirect your income and bills. Log into any employer payroll system or gig work platform and update your direct deposit information to point to your new bank. Go through your recent statements and identify every automatic payment—subscriptions, utilities, insurance, loan payments, rent. Update each one with your new account number and routing number. This step is critical: if a payment tries to post to your closed account, it will fail, and you may face late fees or service interruptions.

Wait for pending transactions to clear. Check your recent activity for any charges that show as "pending" rather than "posted." These can take 3 to 5 business days to settle. Closing the account before they post can create complications with the merchant and Bank of America both.

How to close the account in person

Visit any Bank of America branch with a government-issued ID. Tell the representative you want to close your account. They will verify your identity, confirm your account has a zero balance, and process the closure on the spot. Bring any debit cards associated with the account—the representative may cut them up in front of you, or you can destroy them yourself after leaving.

This method is fastest if you have questions or if your account has complications (like a negative balance or holds). The representative can also print a confirmation receipt showing the account is closed.

How to close the account by phone

Call Bank of America customer service at 1-800-432-1000. Have your account number and a government-issued ID ready. The representative will confirm your identity, verify the balance is zero, and close the account. They will send you written confirmation in the mail within 5 to 7 business days.

Phone closure works well if you cannot reach a branch or prefer not to go in person. The downside is you will not have when ready proof of closure—you will need to wait for the written confirmation or check your online account to see the closure reflected.

How to close the account online

Not all account types can be closed through the Bank of America website. Checking and savings accounts sometimes allow online closure, but it depends on your specific account and whether you have linked services. Log into your account, look for "Account Services" or "Close Account" in the settings menu, and follow the prompts.

If the online option is not available, you will see a message directing you to call or visit a branch. Online closure is the fastest method when it is available, but you should still follow up by checking your account a few days later to confirm the closure went through.

What happens to linked services and other accounts

Closing a checking or savings account does not close your credit card, mortgage, investment account, or any other Bank of America product. Those accounts remain open and active. If you have automatic payments set up from the account you are closing to pay a Bank of America credit card, you will need to update that payment method before closure.

If you have a Bank of America debit card tied to the account, it will stop working once the account closes. If you want to keep a debit card, you will need to open a new checking account or link the card to a different existing account first.

What to watch out for after closure

Transactions can post for days or even weeks after you close an account. If a charge hits your closed account, Bank of America will typically reject it and return the funds to the merchant. However, the merchant may then charge you a fee for the failed transaction, and you may face late fees if it was a bill payment. This is why updating automatic payments before closure is so important.

Keep your Bank of America statements and closure confirmation for at least one year. If a dispute arises about a transaction or if a merchant claims a payment never went through, you will need proof that your account was closed on a specific date.

If you had overdraft protection linked to another account or credit line, that protection ends when you close the account. Make sure your new bank account has overdraft settings you are comfortable with, or turn overdraft protection off if you prefer to have transactions declined rather than covered.

Frequently Asked Questions

Can I reopen a Bank of America account I closed?

Yes, you can open a new account at any time. However, if your previous account was closed due to fraud or violation of Bank of America's terms, they may deny you. If you closed it in good standing, you can open a new account when ready with no waiting period.

What if I closed my account but a transaction still tries to post?

Bank of America will reject the transaction and return the funds to the merchant within 5 to 10 business days. The merchant may then charge you a fee for the failed payment, or if it was a bill, you may face a late fee. Contact the merchant directly to explain the situation and ask them to resubmit the charge to your new account.

Do I need to close my account in person, or can I do it remotely?

You can close by phone or online if those options are available for your account type. In-person closure is not required, but some account types only allow closure at a branch. Call 1-800-432-1000 or log into your account to see which methods are available to you.

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. Your credit history with Bank of America will remain on file even after you close the account.

What if my account has a negative balance?

You cannot close an account with a negative balance. You must deposit enough money to bring the balance to zero, or pay the negative amount in full. Once the balance is zero, you can proceed with closure. If you dispute the negative balance, contact Bank of America to resolve it before attempting to close.