Yes, you can close a Bank of America savings account online through your computer or the mobile app
Bank of America lets you close a savings account without visiting a branch or calling. You do this through your online banking dashboard or the mobile app — the same place you check your balance and transfer money. The process takes a few minutes and happens when ready, though there are a few things to handle first.
Before you close the account, you need to move any money out and make sure there are no pending transactions. Bank of America will not let you close an account with a balance, and if checks or automatic payments are still processing, they can cause problems after closure.
Key Takeaways
- You must withdraw or transfer all money from the account before closing it — Bank of America will not close an account with any balance remaining.
- Check for pending transactions, automatic bill payments, and direct deposits linked to the account, and redirect them before you close.
- The online closure is when ready, but it can take three to five business days for the account to fully disappear from your profile.
- If you cannot close the account online, you can call Bank of America at the number on your debit card or visit a branch in person.
What to do before you close the account
Start by logging into your Bank of America online banking or opening the mobile app. Look at your savings account balance and any recent transactions. If you have any money in the account, transfer it to another account you own — either another Bank of America account or an account at a different bank. Bank of America will reject the closure request if any balance remains.
Next, check whether any automatic payments or recurring transfers are set to pull from this savings account. Look at your transaction history for the past month or two to see what has been moving in and out. If you have direct deposit set up to go into this account, you will need to change that with your employer or the organization sending the money. The same goes for any bills you set to pay from this account — update those before closing.
If you have a debit card linked only to this savings account, that card will stop working once the account closes. If you want to keep using it, link it to a different Bank of America account first, or plan to destroy the card after closure.
Steps to close the account online
Log into your Bank of America online banking at bankofamerica.com or open the mobile app. Navigate to the account settings or account management section — this is usually found under a menu labeled "Settings," "Profile," or "Manage Accounts." Look for an option that says "Close Account" or "Account Services."
Select your savings account from the list of accounts. Bank of America will ask you to confirm that the account balance is zero and that you want to proceed. You may also see a question about why you are closing the account — this is optional to answer. Review the information one more time, then confirm the closure.
The account will close when ready in most cases. You should see a confirmation message on screen and receive an email to the address on file. The account will no longer appear in your active accounts list, though it may take a few business days to disappear completely from your profile history.
What happens after you close the account
Once closed, you cannot deposit money into the account or access it through online banking. If a check or automatic payment tries to post to the closed account, it will be rejected. The organization sending the money will receive a notice that the account no longer exists, and they will typically return the funds to the sender or contact you for a new account number.
Bank of America will keep a record of the closed account for your files. You can still view the account history and old statements through your online banking for a period of time, usually several years. This is useful if you need to reference old transactions for tax purposes or disputes.
If you had a savings account number or routing number written down anywhere — for example, on a bill payment form or with an employer — update those records to use a different account or remove them entirely.
If you cannot close the account online
Some accounts cannot be closed through online banking. This might happen if the account has a hold on it, if there is a pending dispute, or if the account is linked to a credit product. In these cases, you will see a message when you try to close it explaining why.
You can close the account by calling Bank of America at the customer service number on the back of your debit card or on your account statements. A representative can walk you through any issues preventing online closure and help you complete the process over the phone. You can also visit a Bank of America branch in person — bring your ID and the account information, and a banker can close it for you on the spot.
Frequently Asked Questions
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 products like credit cards, loans, and lines of credit show up on your credit report.
What if I close the account and then need to access it again?
Once closed, you cannot reopen the exact same account. However, you can open a new Bank of America savings account at any time through online banking or at a branch. The new account will have a different account number.
How long does it take for the account to completely disappear?
The account closes when ready when you confirm online, but it may take three to five business days to disappear from your account list and statements. You can still see the closed account in your history for several years for record-keeping purposes.
What if I have a pending check that has not cleared yet?
Wait until the check clears before closing the account. You can see pending transactions in your online banking. If you close the account before a check clears, it will be rejected and returned to the person who wrote it.
Can I close the account if I have a negative balance?
No. You must bring the account to zero or positive before closing. If the account is negative, you owe Bank of America that amount. Contact customer service to discuss payment options before attempting to close.