You can close a Bank of America savings account in person, by phone, or by mail, but you must withdraw or transfer your balance first
Bank of America does not charge a fee to close a savings account. You can initiate the closure through any of three routes: walk into a branch with your ID, call customer service at 1-800-432-1000, or send a written request by mail. The account must have a zero balance before closure is complete — any remaining funds must be moved to another account or withdrawn as cash.
The process itself takes minutes if you do it in person, but the account may take several business days to fully close after you initiate the request. If you have automatic deposits or payments linked to the account, those will fail once the account is closed, so you should redirect them before you start.
Key Takeaways
- You must withdraw or transfer your entire balance to zero before Bank of America will close the account.
- In-person closure at a branch is the fastest method and requires only your ID and the account number.
- Phone closure takes about 10 minutes and works if you cannot visit a branch, but you must handle the balance transfer yourself first.
- Any automatic deposits, bill payments, or transfers tied to the account will stop working once closure is complete, so update those beforehand.
- The account shows as closed in your online banking within one business day, but Bank of America may take up to 10 business days to process the full closure.
Closing in person at a Bank of America branch
This is the fastest and most straightforward method. Bring your ID and go to any Bank of America branch during business hours. Tell the teller you want to close your savings account. They will pull up the account, confirm the balance, and walk you through the next step.
If the account has money in it, the teller will ask how you want to handle it: transfer to another account (yours or someone else's), withdraw as cash, or move it to a different Bank of America account you hold. If you are closing the account because you want to move the money elsewhere, bring the routing and account number of the receiving bank so the teller can set up the transfer on the spot.
Once the balance is zero, the teller will close the account. You will receive a confirmation on the spot. The account will disappear from your online banking within one business day.
Closing by phone with Bank of America customer service
Call 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 the balance, and ask what you want to do with any remaining money.
If you have funds in the account, you have two options: the representative can transfer the balance to another Bank of America account you own, or you can handle the transfer yourself before calling back to complete the closure. If you are moving money to a different bank, you will need to do that transfer first — the representative cannot send money outside Bank of America during the closure call.
The call takes about 10 minutes. After you hang up, the account will show as closed in your online banking within one business day, though the full closure may take up to 10 business days to process on the back end.
Closing by mail
Write a letter to Bank of America requesting closure of your savings account. Include your full name, account number, the date, and your signature. Mail it to the address on your most recent statement or to Bank of America's general correspondence address (you can find this on their website under "Contact Us").
Before you mail the letter, withdraw or transfer your balance to zero. Bank of America will not close an account with a remaining balance, and the mail route means you cannot handle that step during the closure request itself. Once your balance is zero and Bank of America receives your letter, closure typically takes 5 to 10 business days.
The mail method is slowest and leaves the most room for miscommunication, so use it only if you cannot visit a branch or make a phone call.
What to do with automatic deposits and payments before closing
If your paycheck, government benefits, or other regular deposits go into this savings account, you must redirect them before you close the account. Once the account is closed, deposits will be rejected and may bounce back to the sender, which can delay your money by several days.
Log into your online banking or contact your employer, benefits administrator, or whoever sends the deposits and update the account information to point to a different account. Do this at least one week before you plan to close the savings account, so the change takes effect before the next deposit arrives.
The same applies to any automatic bill payments or transfers you have set up from this account. Update those to pull from a different account, or cancel them if you no longer need them. Bank of America will not process payments from a closed account.
What happens to pending transactions and holds
If you have a pending transaction or a hold on the account (for example, a check that has not yet cleared), Bank of America will not close the account until that transaction settles. This can take several business days depending on what the hold is for.
Ask the teller or representative whether there are any pending items on the account before you request closure. If there are, you can wait for them to clear, or you can ask Bank of America to release the hold if it is a discretionary hold (holds related to fraud investigations or overdrafts may not be releasable when ready).
Frequently Asked Questions
Can I close the account if it has a negative balance?
No. You must bring the account to zero or positive before closure. If the account is overdrawn, you will need to deposit money to cover the negative balance first. Once it reaches zero, you can proceed with closure.
What if I have a savings account linked to a checking account for overdraft protection?
Closing the savings account will remove the overdraft protection link. Your checking account will no longer be able to draw from this savings account if it overdraws. If you rely on that protection, set up a new overdraft protection link to a different savings account before you close this one.
Will closing the account hurt my credit score?
No. Closing a savings account does not affect your credit score. Credit scores are based on credit history (loans, credit cards, payment history), not on deposit accounts. Savings accounts do not appear on your credit report.
How long does it take for the account to fully disappear from my online banking?
The account will show as closed within one business day of closure, but it may remain visible in your account history for several months. Bank of America keeps closed account records for your reference. You can request permanent removal, but most people leave it there in case they need to reference old statements.
What if I change my mind after closing the account?
You cannot reopen a closed account. If you want to use Bank of America again, you will need to open a new savings account. This is a separate account with a new account number, so any automatic deposits or payments tied to the old account will not transfer over.