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 outstanding holds or pending transactions

Bank of America lets you close a savings account through three channels: calling their customer service line at 1-800-432-1000, visiting a branch in person with your ID, or using their online banking platform if your account is in good standing. The fastest route is usually a phone call, which takes about 10 minutes. In-person closure at a branch guarantees when ready confirmation and lets you handle any remaining balance on the spot. Online closure works only if you have no pending transactions, no holds on the account, and a zero or positive balance.

Before you close, understand what happens to any money still in the account. Bank of America will send remaining funds to the address on file, issue a check, or transfer the balance to another account you specify—you choose during the closure process. If your account is overdrawn or has a negative balance, you must bring it to zero before closing. Any pending direct deposits or automatic payments linked to that account number will fail after closure, so redirect those first.

Key Takeaways

  • Call 1-800-432-1000 to close over the phone in about 10 minutes, or visit a branch with your ID for when ready confirmation.
  • You must have a zero or positive balance and no pending transactions before closing; if overdrawn, deposit funds to cover the negative balance first.
  • Redirect any automatic payments or direct deposits to another account before closure, since they will fail once the account is closed.
  • Bank of America will return any remaining balance by check, transfer to another account, or mail to your address on file—you specify which during closure.
  • Keep your final statement and confirmation number for your records, especially if you had recurring charges tied to this account.

What happens to your money when you close

Any balance remaining in your savings account does not disappear. You tell Bank of America where to send it during the closure conversation. Your options are a check mailed to your address on file, an electronic transfer to another Bank of America account you own, or a transfer to an external bank account (which takes 1 to 3 business days). If you do not specify, Bank of America will mail a check, which typically arrives within 5 to 7 business days.

If your account has a negative balance—meaning you owe Bank of America money—you cannot close until that balance is paid. Deposit enough to bring the account to zero, then proceed with closure. Bank of America will not close an account with an outstanding debt.

Stopping automatic payments and direct deposits before you close

Any recurring charges, subscriptions, or automatic bill payments tied to your savings account number will fail once the account closes. Before you initiate closure, log into your online banking or call the companies that pull money from this account—utilities, insurance, streaming services, loan payments—and update their payment method to a different account or card. This prevents missed payments and late fees.

The same applies to direct deposits. If your employer or any other source deposits money into this savings account, update your direct deposit information with them before closure. Once the account is closed, deposits will bounce back to the sender, and you may miss a paycheck or benefit payment if you do not redirect it in time.

Closing by phone

Call Bank of America's customer service at 1-800-432-1000 and tell the representative you want to close your savings account. Have your account number and ID ready. The representative will verify your identity, confirm your account balance, ask where you want remaining funds sent, and check for any holds or pending transactions. If everything is clear, they will close the account on the spot and give you a confirmation number. Write this down.

The call usually takes 10 to 15 minutes. If your account has a hold, pending transaction, or negative balance, the representative will explain what needs to happen first. You may need to wait for a pending deposit to clear or resolve a dispute before closure is possible. Ask the representative for a timeline—most holds lift within 3 to 5 business days.

Closing in person at a Bank of America branch

Visit any Bank of America branch with a valid photo ID and your account number (or the card linked to the account). Tell the teller you want to close your savings account. They will pull up your account, confirm the balance, verify there are no holds or pending items, and ask how you want remaining funds handled. If you want a check, they can print one on the spot. If you want a transfer to another account, they can process it when ready. You walk out with confirmation and, if you chose a check, the funds in hand.

In-person closure is the most straightforward if you have a branch nearby and want to avoid phone queues. Bring your ID and account number. If your account has a hold or negative balance, the teller will tell you what must be resolved first, and you can handle it right there if you have funds available.

Closing online through Bank of America's website or app

Bank of America's online platform allows account closure only under specific conditions: your account must have a zero or positive balance, no pending transactions, no holds, and no unresolved disputes. Log into your online banking, navigate to your savings account, and look for a "Close Account" or "Account Services" option. The exact location varies depending on whether you use the website or mobile app, but it is typically under account settings or account details.

If the online closure option does not appear, your account does not meet the requirements. This usually means a hold is in place, a transaction is pending, or the balance is negative. In that case, call 1-800-432-1000 or visit a branch. Online closure is fastest if available, but most accounts with any complication require a phone call or branch visit.

What to do if Bank of America will not close your account

Bank of America may delay or refuse closure if your account has an outstanding negative balance, an active dispute, a fraud investigation, or a hold from a creditor or court order. A negative balance means you owe money; deposit the amount owed, and closure can proceed. A hold typically lifts within 3 to 5 business days once the triggering event (a large deposit, a returned check) clears. A dispute or fraud investigation can take longer—sometimes 10 business days or more—and the account cannot close until resolved.

If a creditor or court has placed a levy or garnishment on the account, Bank of America is legally required to hold the funds. You cannot close the account until that legal claim is satisfied or released. Contact the creditor or the court to understand the status and what is needed to lift the hold. Once resolved, you can close the account.

Keeping records after closure

After your account closes, request a final statement from Bank of America if you do not receive one automatically. This statement shows the closure date, final balance, and where funds were sent. Keep this for your records, along with the confirmation number the representative gave you. If you had recurring charges or subscriptions tied to this account, keep a record of which ones you redirected and to where, in case a charge still appears on your credit report or a company claims it never received the update.

If you closed the account and a charge still appears weeks later, contact Bank of America with your confirmation number and final statement. They can investigate whether the charge was processed before closure or if it is a duplicate. Having documentation makes this process faster.

Frequently Asked Questions

Can I close my savings account if it has a negative balance?

No. You must deposit enough to bring the balance to zero or positive before closure. Once the balance is zero or above, you can close when ready by phone, online, or in person.

How long does it take to receive my remaining balance after I close?

If you chose a check, it arrives within 5 to 7 business days. If you chose a transfer to another Bank of America account, it is when ready. If you chose a transfer to an external bank, it takes 1 to 3 business days.

What if I close my account and then a company tries to charge it?

The charge will fail and bounce back to the company. Contact that company to update your payment method. If the charge appears on your credit report or you are charged a fee for the failed transaction, contact Bank of America with your closure confirmation number to dispute it.

Do I need to close my savings account in person, or can I do it over the phone?

Phone closure is just as valid as in-person closure. Call 1-800-432-1000 with your account number and ID ready. In-person is faster only if you want to receive a check when ready or prefer face-to-face confirmation.

Will closing my savings account affect my credit score?

Closing a savings account does not affect your credit score because savings accounts do not appear on your credit report. Only credit accounts (credit cards, loans, lines of credit) impact your score.