You can close a Bank of America savings account in person, by phone, or online, depending on your account type and what you need to do with the money first
Bank of America lets you close a savings account through three main routes: visiting a branch in person, calling their customer service line, or using their online banking platform. The method you choose depends on whether you have outstanding transactions, how quickly you want it done, and whether you need to move money out first. Most closures take effect within one to three business days after you initiate them, though any pending deposits or withdrawals may still process after the account is closed.
Before you close, you need to know your account balance and decide what to do with any remaining money. Bank of America will not close an account with a negative balance — you must bring it to zero or positive first. If you have automatic payments or direct deposits linked to the account, those will fail once the account closes, so you should redirect them beforehand.
Key Takeaways
- You must have a zero or positive balance before Bank of America will close your savings account; any negative balance blocks the closure.
- Closing in person at a branch is the fastest method and lets you handle the money transfer on the spot, usually taking effect the same day.
- Phone closures take one to three business days and require you to arrange money transfer separately, either by check or electronic transfer.
- Online closure through the Bank of America app or website works only for certain account types and may not be available if you have linked accounts or outstanding holds.
- You should cancel any automatic payments or direct deposits tied to the account at least a week before closing to avoid failed transactions.
Closing your account in person at a Bank of America branch
Walking into a branch with your ID and account information is the most straightforward method. Tell the banker you want to close your savings account. They will pull up your account, confirm the balance, and ask how you want the remaining money handled — as a check, transferred to another Bank of America account, or transferred to an external bank account if you provide routing and account numbers.
The closure typically takes effect the same day you request it, though the actual processing may take one business day. If you choose to receive a check, the banker will print it on the spot or mail it to your address on file. If you transfer to another account, the money moves when ready for transfers within Bank of America, or within one to three business days for transfers to another bank.
Bring your government-issued ID and know your account number. If someone else is authorized on the account, they can also request closure, but Bank of America may require both account holders to be present depending on how the account was set up.
Closing your account by phone
Call Bank of America's customer service number on the back of your debit card or on your statement. Tell the representative you want to close your savings account. They will verify your identity by asking security questions, confirm your balance, and discuss how to handle any remaining money.
Phone closures take one to three business days to process. You cannot receive cash, so your options are a mailed check or an electronic transfer. If you choose electronic transfer, you will need to provide your routing number and account number for the receiving bank. The representative will confirm all details before finalizing the request.
Ask the representative for a confirmation number and note the expected closure date. Request that they email or mail you written confirmation of the closure. This protects you if the account remains open by mistake or if you need proof of closure later.
Closing your account online through the Bank of America app or website
Log into your Bank of America account on their website or mobile app. Navigate to your savings account details and look for a "Close Account" or "Account Services" option. Not all account types support online closure — if you do not see the option, your account type requires phone or in-person closure.
Online closure works best for straightforward accounts with no linked credit lines, no pending transactions, and no holds. If your account has any complications, the system will direct you to call or visit a branch instead. Once you initiate online closure, the account closes within one to three business days, and any remaining balance is transferred according to your instructions.
The online method does not let you receive a check; you must transfer remaining money to another account. Make sure you have the receiving account's routing and account number ready before you start the process.
What happens to your money and what to do before closing
Your remaining balance does not disappear. You choose where it goes — to another Bank of America account you own, to an account at a different bank, or as a mailed check. If you do not specify, Bank of America will contact you to ask. Do not leave this unanswered; unclaimed funds may be turned over to your state's unclaimed property program after a set period.
Before you close, cancel or redirect any automatic payments, bill payments, or direct deposits tied to the account. Check your recent statements for any recurring charges or deposits. Contact each company or employer separately to update your banking information. Transactions that process after closure will fail and may trigger overdraft fees or missed payments.
If you have a linked credit card or line of credit, closing the savings account does not affect it. However, if the savings account was set up as overdraft protection for another account, closing it removes that protection.
Timing and what to expect after you request closure
In-person closures at a branch take effect the same day, though the system may show the account as closed the next business day. Phone and online closures take one to three business days. During this window, do not attempt to use the account — any transactions may be rejected or reversed.
If you requested a check, it will arrive within five to seven business days if mailed to your address on file. Electronic transfers to another bank typically complete within one to three business days. Transfers within Bank of America are usually when ready.
After closure, you will no longer see the account in your online banking or mobile app. If the account appears after three business days, contact Bank of America to confirm it was actually closed.
Frequently Asked Questions
What if my savings account has a negative balance?
Bank of America will not close an account with a negative balance. You must deposit money to bring the balance to zero or positive before requesting closure. Once the balance is positive, you can proceed with closing and directing the remaining funds as you choose.
Can I reopen a closed savings account?
Yes, but it is treated as a new account. You will need to go through the account opening process again, which may include a new process and a review of your banking history. There is no automatic way to restore a closed account to its previous state.
Will closing my savings account affect my credit score?
Closing a savings account does not affect your credit score. Credit scores are based on credit accounts like credit cards and loans, not deposit accounts. Closing a savings account has no impact on your creditworthiness.
What if I have pending transactions when I request closure?
Pending transactions may still process after the account closes. If a transaction posts after closure, it will be rejected and may trigger an overdraft fee. Contact Bank of America before closing if you have pending transactions, and wait for them to clear first.
Do I need to close the account in the same state where I opened it?
No. You can close your account at any Bank of America branch, by phone, or online regardless of where you opened it. Your account is part of the national Bank of America system, so location does not matter.