You can close a Bank of America savings account by phone, in person, or online, but the method depends on your account type and whether you have a balance remaining

Bank of America lets you close a savings account through three channels: calling their customer service line at 1-800-432-1000, visiting a local branch in person, or using their online banking portal if your account is set up for digital management. The fastest route is usually the phone call, which takes about 10 minutes. If you have money in the account, you'll need to decide whether to transfer it to another account or receive a check. If the account has a zero balance, closure is straightforward and can happen when ready.

Before you call or visit, gather your account number (visible on your debit card or statements) and have a destination account ready if you're transferring funds. Bank of America does not charge a fee to close a savings account, but some accounts carry early closure penalties if you close within a certain timeframe—typically 90 days to six months depending on the specific product. Check your account agreement or ask when you call whether your account has this restriction.

Key Takeaways

  • Phone closure at 1-800-432-1000 is the fastest method and takes about 10 minutes, with no fee charged by the bank.
  • You must have a zero balance or arrange a transfer or check before the account closes; the bank will not close an account with money in it.
  • Some savings products impose early closure penalties if you close within 90 days to six months of opening, so verify your account terms first.
  • In-person closure at a branch requires a valid ID and takes 15 to 20 minutes; online closure through the banking portal is available for some account types but not all.

Closing by phone: the fastest route

Call Bank of America's main customer service line at 1-800-432-1000 and tell the representative you want to close your savings account. Have your account number ready. The representative will ask whether you want to transfer the remaining balance to another Bank of America account, transfer it to an external account, or receive a check by mail. If you choose a transfer to another account, provide the routing number and account number of the destination bank.

The representative will confirm the closure and provide a reference number. The account typically closes within one to three business days. If you requested a check, it will arrive by mail within 7 to 10 business days. Keep the reference number in case you need to follow up or verify the closure later.

Closing in person at a branch

Visit any Bank of America branch with a valid government-issued ID (driver's license, passport, or state ID). Tell the teller you want to close your savings account and bring your debit card if you have one. The teller will verify your identity, confirm your account details, and ask how you want to handle any remaining balance. You can transfer funds to another account, withdraw cash, or request a check.

In-person closure usually takes 15 to 20 minutes. The account closes on the same day. If you withdraw cash, you'll receive it when ready. If you request a check or transfer, the teller will process it and provide a receipt showing the closure date and reference number.

Closing through online banking

Bank of America's online portal does not offer a direct account closure feature for most savings accounts. However, you can initiate a transfer of your full balance to another account through the transfer tool, which effectively empties the account. After the transfer clears, call customer service to formally close the empty account, or visit a branch.

This method works if you want to move your money electronically without visiting a branch or waiting on hold. The transfer itself takes one to three business days, and then the closure takes another one to three days after that.

What happens to pending transactions and automatic payments

If you have automatic payments or deposits linked to the savings account you're closing, those will fail once the account closes. Before you close, review your account for any recurring transfers, direct deposits, or bill payments tied to that account. You'll need to update those arrangements with your employer, creditors, or other organizations to point to a different account.

If a payment attempts to post after the account closes, it will be rejected and may trigger an overdraft fee with the other account if the payment tries to pull from there instead. Check your account activity for the past 30 days to identify any recurring transactions, then update them before you close.

Early closure penalties and account restrictions

Bank of America's savings products vary in their terms. Some accounts, particularly promotional savings accounts or those opened with a sign-up bonus, carry an early closure fee if you close within a set period—usually 90 days to six months. The fee ranges from $25 to $100 depending on the product. You can find this information in your account agreement or by asking the representative when you call.

If your account is subject to an early closure penalty and you close within the restricted period, the bank will deduct the fee from your balance before sending you the remaining funds. There is no way to waive this fee, but you can ask the representative to confirm the exact amount before you proceed with closure.

What to do if your account has a negative balance

If your savings account is overdrawn (has a negative balance), you cannot close it until the balance is paid. You'll need to deposit funds to bring the account to zero or positive, then proceed with closure. The bank will not close an account with an outstanding debt.

If the account has been overdrawn for an extended period, contact customer service to discuss payment options. In some cases, the bank may have already charged off the account or referred it to collections, which complicates closure. Ask the representative whether the account is in good standing before you attempt to close.

Frequently Asked Questions

Will closing my savings account affect my credit score?

No. Closing a savings account does not appear on your credit report and has no impact on your credit score. Credit scores are based on credit accounts (credit cards, loans, lines of credit), not deposit accounts. You can close a savings account without any credit consequences.

Can I reopen a Bank of America savings account after I close it?

Yes, you can open a new savings account with Bank of America at any time after closure. However, if you closed the account due to a dispute or had a negative balance that was charged off, the bank may flag your profile. Contact customer service before opening a new account if you had issues with the previous one.

What if I don't remember my account number?

Call 1-800-432-1000 and provide your full name, date of birth, and Social Security number. The representative will look up your account and provide the number. You can also log into your online banking portal to find it, or visit a branch with your ID and ask a teller to provide it.

How long does it take for the account to fully close after I request it?

Most accounts close within one to three business days after you request closure. If you requested a check or external transfer, the funds take an additional 7 to 10 business days to arrive. You'll receive a confirmation email or letter showing the closure date and final balance.

Can someone else close my account if I give them permission?

No. Bank of America requires the account holder to request closure in person or by phone with proper identification. A representative cannot close an account based on a phone call from someone else, even with written permission. If you are unable to close the account yourself, you can authorize someone as a power of attorney, but that requires legal documentation and a separate process.