You can close a Bank of America savings account online through your mobile app or the website, but the process depends on your account balance and whether you have linked accounts
Bank of America lets you close a savings account without visiting a branch, but you cannot do it entirely through the app or website if your account has a balance. You will need to move or withdraw the money first, then request the closure through your online banking portal or call the number on the back of your card. If your account is already at zero, the closure request can go through when ready. The whole process typically takes three to five business days after your request is submitted.
The reason for the two-step process is that Bank of America will not close an account with funds in it—they need you to move that money somewhere else first. This protects you from accidentally losing access to your balance and gives the bank a clear record that you chose to leave.
Key Takeaways
- Your savings account balance must be zero before Bank of America will process a closure request through online banking.
- You can transfer your balance to another Bank of America account, an external bank, or withdraw it as cash or a check.
- After your balance reaches zero, you can request closure through your online banking profile or by calling customer service.
- Account closure takes three to five business days after your request is submitted, and any pending transactions must clear first.
- If you have a linked checking account or automatic transfers set up, you should cancel those before closing the savings account.
Move your money before you request closure
Log into your Bank of America account online or through the mobile app and check your current savings account balance. If it is above zero, you have three options: transfer the money to another Bank of America account you own, transfer it to an external bank account, or withdraw it.
To transfer within Bank of America, go to the Transfers tab in your online banking portal. Select your savings account as the source and choose the destination account (checking, money market, or another savings account). Enter the amount and confirm. This transfer usually completes within one business day.
To transfer to an external bank, you will need the routing number and account number of the receiving bank. This process is called an external transfer and typically takes three to five business days. If you need the money faster, withdraw it instead: you can request a check by mail, withdraw cash at an ATM or branch, or use a teller to move the funds when ready.
Request closure through your online account
Once your balance is zero, log into your Bank of America online banking portal on a computer (the mobile app does not have a closure option). Go to your account settings or profile menu—this is usually in the top right corner or under a menu labeled "Settings" or "Preferences."
Look for an option labeled "Close Account," "Account Services," or "Manage Accounts." Click it and select the savings account you want to close. Bank of America will ask you to confirm that your balance is zero and may ask why you are closing the account. Answer the questions and submit your request. You will receive a confirmation number and an email confirming that your closure request has been received.
If you cannot find the closure option online, or if your account has a hold or pending transactions, call the number on the back of your debit card and ask to speak with an account specialist. They can close the account over the phone and explain any blocks preventing online closure.
Cancel automatic transfers and linked services first
Before you close your savings account, check whether you have set up any automatic transfers, direct deposits, or bill payments tied to it. If your paycheck goes directly into this savings account, you will need to update your employer's payroll system with a new account number or bank details.
Log into your online banking portal and go to the Transfers or Payments section. Look for any recurring transfers scheduled to or from your savings account and cancel them. If you have a linked checking account with overdraft protection that pulls from this savings account, you should disable that link before closure.
These steps prevent your account from being reopened automatically if a scheduled transfer tries to post after closure, and they may support you do not miss important deposits or payments.
What happens after you submit your closure request
Bank of America will process your closure request within three to five business days. During this time, your account will remain open but inactive. Any checks you wrote or transactions you initiated before closure may still post to the account, which can delay the final closure.
Once the account is fully closed, Bank of America will send you a confirmation letter by mail. Your account number will no longer be active, and you will not be able to access it through online banking. If you need to dispute a transaction or retrieve account history after closure, you can still contact Bank of America customer service with your former account number.
If your closure request is denied or delayed, it is usually because a pending transaction has not cleared or because the account still shows a balance. Call customer service to ask what is holding up the closure and when you can expect it to be finalized.
If you want to reopen the account later
Bank of America does not charge a fee to close a savings account, and you can open a new one at any time. If you close your account and then change your mind within a short window, contact customer service when ready—they may be able to cancel the closure request if it has not yet been processed.
If your account is already closed and you want to reopen it, you can do so online or at a branch. You will need to provide your Social Security number and identification, and the bank will run a background check through ChexSystems (a banking history database). If you left the account in good standing with no overdrafts or fraud, reopening is usually straightforward.
Frequently Asked Questions
Can I close my savings account if I have pending transactions?
No. Bank of America will not close an account with pending transactions because they need to know where to post the money when the transaction clears. Wait for all pending transactions to complete, then request closure. This usually takes one to three business days.
What if I have a negative balance or overdraft fee?
You must pay off any negative balance before closing. If your account is overdrawn, transfer money in from another account or deposit cash to bring it to zero. Once the balance is positive and cleared, you can proceed with closure.
Will closing my savings account affect my credit score?
No. Closing a savings account does not appear on your credit report and does not affect your credit score. Only credit accounts like credit cards and loans show up on your credit history.
How long does it take to close a Bank of America savings account?
The closure request takes three to five business days to process after you submit it. The total time depends on how long it takes you to move your balance to zero—transfers to external banks can take up to five days, while internal transfers or cash withdrawals are when ready.
Can I close my account through the mobile app?
No. The Bank of America mobile app does not have an account closure feature. You must use the website on a computer or call customer service at the number on your debit card to request closure.