What happens when you close a Bank of America account
Closing a Bank of America account stops all activity on that account and removes it from your profile. Bank of America will freeze the account when ready, meaning no deposits or withdrawals can happen after closure. Any pending transactions may still process, and you remain responsible for overdraft fees or other charges that occur before the account fully closes.
The bank does not delete your account history. Your records stay in their system for the period required by law—typically seven years for checking and savings accounts. If you owe the bank money, closing the account does not erase that debt, and Bank of America can pursue collection or offset funds from other accounts you hold with them.
You should move your money out before you close. Any remaining balance will be refunded by check or transferred to another account you specify, but this adds time to the process. If you have automatic bill payments or direct deposits linked to the account, those will fail after closure, so you need to update those arrangements first.
Key Takeaways
- You can close a Bank of America account by phone, in person at a branch, or online through your account settings, and the method depends on your account type and whether you have outstanding balances.
- Move all your money out of the account before closing, and update any automatic payments or direct deposits linked to it so they do not fail.
- Bank of America will send a confirmation letter to your mailing address within one to two weeks, and your account history remains on file for seven years.
- If you have a negative balance or owe the bank money, closing the account does not erase the debt, and the bank can collect from other accounts you hold with them.
Closing your account by phone
Call Bank of America at 1-800-432-1000 to close an account over the phone. Have your account number and Social Security number ready. The representative will verify your identity, confirm you want to close the account, and ask why you are closing it—this is optional to answer.
The representative will check for pending transactions, automatic payments, and any balance owed. If you have money in the account, they will ask how you want it returned: by check mailed to your address, or transferred to another bank account. If you choose a transfer, provide the routing number and account number of the receiving bank.
Phone closure typically takes 10 to 15 minutes. The account closes when ready, but the confirmation letter arrives in your mail within one to two weeks. If you have a credit card or other products linked to the account, closing the checking or savings account does not close those products—you must close them separately if you want to.
Closing your account in person at a branch
Visit any Bank of America branch with a photo ID and your account number. A banker will walk you through the closure process, verify your identity, and check for pending transactions or outstanding balances. This method is fastest if you want to withdraw cash or deposit a check before closing, since you can handle it all in one visit.
Bring any debit cards or checks linked to the account so you can destroy them in front of the banker, or they will note that you are keeping them. If you have a balance, you can take cash when ready or request a cashier's check. The banker will print a closure confirmation on the spot.
Branch closure is useful if you have questions or if your account has complications—for example, if there is a hold on the account or if you have a credit card tied to the same account number. The banker can often resolve these issues while you are there.
Closing your account online
Log into your Bank of America account and go to Settings, then Account Services, then Close Account. The online process walks you through confirming your account details and asking how you want any remaining balance returned. You can request a check or transfer to another account.
Online closure works only for accounts in good standing with no pending issues. If your account has a negative balance, a hold, or linked credit products, you may not be able to close it online and will need to call or visit a branch instead. The system will tell you if online closure is not available for your account.
After you submit the online closure request, you will receive a confirmation number. The account closes within one business day, and a confirmation letter arrives in your mail within one to two weeks. Check your email for any follow-up messages from the bank.
What to do before you close
Stop all automatic bill payments at least one week before you close the account. Log into each biller's website—your utility company, insurance provider, credit card issuer, or loan servicer—and change the payment method to a different account or card. If you forget, payments will fail and you may face late fees or service interruptions.
Update direct deposits with your employer or any organization that sends you regular payments. Provide them with your new account number and routing number. This includes paychecks, Social Security, pension payments, tax refunds, and benefits. Direct deposits can take one to two pay cycles to reroute, so make the change as soon as you decide to close the account.
Withdraw or transfer any money you want to keep. If you have a balance under $100 that you do not claim, Bank of America may send it to your state's unclaimed property program after a set period. Confirm that any linked credit cards, lines of credit, or other products are not tied to this account, or close those separately.
What happens to your remaining balance
If you have money in the account when you close it, you choose how to receive it. The two options are a check mailed to your address or a transfer to another bank account. A check typically arrives within five to seven business days. A transfer to another bank account can take one to three business days depending on the receiving bank.
If you do not claim a balance under $100 within a certain period—usually 12 to 18 months depending on your state—Bank of America sends it to your state's unclaimed property division. You can recover it by contacting your state's treasurer or comptroller office, but the process takes longer than claiming it when you close the account.
If your account has a negative balance—meaning you owe the bank money—you must pay it before or at the time of closure. Bank of America can hold the closure until the balance is paid, or they can offset the amount from another account you hold with them. Ask the representative or banker what your balance is before you close.
After your account closes
You will receive a closure confirmation letter in the mail within one to two weeks. Keep this letter for your records. Your account number becomes inactive and cannot be used for deposits or withdrawals. If someone tries to deposit a check to your closed account, the bank will return it unpaid.
Your account history remains available for seven years. If you need a statement or record of transactions, you can request it from Bank of America by phone or in person. After seven years, the bank may delete the records, though you can still contact them to ask about specific transactions.
If you closed the account because of fraud or unauthorized activity, report it to Bank of America's fraud department and file a report with the Federal Trade Commission at reportfraud.ftc.gov. Keep documentation of the fraudulent transactions and any correspondence with the bank.
Frequently Asked Questions
Can I reopen a Bank of America account after I close it?
Yes, you can open a new account at any time. However, if you closed the account because of overdrafts or other issues, Bank of America may flag your profile and require a larger opening deposit or additional verification. Contact a banker to ask about your specific situation.
What if I have a pending check or automatic payment after I close?
Checks and automatic payments that process after closure will be returned unpaid or declined. The payee may charge you a fee for the returned payment. This is why you should stop automatic payments and update direct deposits before closing. If a payment fails, contact the payee to make an alternative arrangement.
Do I lose my debit card when I close my account?
Your debit card becomes inactive when the account closes, but the bank does not automatically destroy it. You can destroy it yourself or ask the banker to do it when you close in person. Do not use the card after closure—transactions will be declined.
Will closing my account hurt my credit score?
Closing a checking or savings account does not directly affect your credit score because these accounts do not appear on your credit report. However, if closing the account causes automatic bill payments to fail, late payments could be reported to credit bureaus and lower your score.
How long does it take to close a Bank of America account?
The account closes when ready when you close it by phone, in person, or online. However, processing the return of any remaining balance takes five to seven business days for a check or one to three business days for a transfer. The confirmation letter arrives within one to two weeks.