You can close a Bank of America savings account online through your account settings, but the process depends on your account balance and whether you have linked accounts
Bank of America lets you close a savings account through their website or mobile app without visiting a branch. The steps are straightforward if your account has no money in it and you do not have automatic transfers set up. If your account still holds funds, you will need to move that money to another account first — either another Bank of America account or an external bank account.
The online closure process takes a few minutes, but the account may take one to three business days to fully close after you submit the request. During that time, the account still exists and can receive deposits, though you will not be able to use it for withdrawals or transfers.
Key Takeaways
- You must have a zero balance before closing your savings account online — move any remaining funds to another account first.
- Log into your Bank of America account online or through the mobile app and navigate to account settings or account management.
- The closure request is submitted when ready, but the account takes one to three business days to fully close.
- If you cannot close the account online, you can call Bank of America at the number on the back of your debit card or visit a local branch.
Step-by-step process to close your account online
Start by logging into your Bank of America online banking account or opening the mobile app. Once you are logged in, look for a section labeled "Account Settings," "Manage Accounts," or "Profile" — the exact name varies depending on whether you are using the website or app.
Find your savings account in the list of accounts and select it. Look for an option that says "Close Account," "Account Options," or a menu icon (three dots or lines) next to the account name. Click or tap that option. Bank of America will show you a confirmation screen that lists the account number and current balance. If the balance is not zero, you cannot proceed — you will see a message telling you to move the money first.
If your balance is zero, you will be asked to confirm that you want to close the account. Read the confirmation carefully, as it will remind you that any pending transactions or automatic payments linked to this account will be affected. Once you confirm, the closure request is submitted and you will see a confirmation number on your screen. Write down or screenshot this number in case you need to reference it later.
Moving your money before closing
If your savings account still has money in it, you need to move that balance to another account before you can close it. You have two options: transfer the money to another Bank of America account you own, or transfer it to an account at a different bank.
To transfer to another Bank of America account, log into online banking and use the "Transfer Funds" option. Select your savings account as the source and choose the destination account (checking, money market, or another savings account). Enter the amount you want to move and confirm the transfer. This usually happens when ready or within one business day.
To transfer to an external bank account, you will need that account's routing number and account number. In Bank of America online banking, go to "Transfer Funds" and select "Add External Account." Enter the other bank's routing number, your account number there, and a nickname for that account. Bank of America will verify the account by depositing two small amounts (usually under one dollar) into it. Once verified, you can transfer your savings account balance to that external account. Verification typically takes one to two business days, and the transfer itself takes another one to three business days.
What happens after you submit your closure request
Once your closure request is submitted, Bank of America sends you a confirmation email to the address on file. The account remains open for one to three business days while the bank processes the closure. During this time, the account can still receive deposits, but you will not be able to withdraw money or set up new transfers from it.
Any automatic payments or recurring transfers linked to this account will be canceled or rejected. If you have automatic bill payments set up through this savings account, you should update those payments to use a different account before closing, or they may fail and trigger late fees with the companies you pay.
After the account fully closes, you will receive a final confirmation email. The account number will no longer be active, and you will not be able to reopen it under the same number. If you change your mind within a short window (usually a few days), you can contact Bank of America to ask about reversing the closure, though this is not may provide.
When you cannot close your account online
Some situations require you to close your account by phone or in person. If you have a joint account, both account holders may need to authorize the closure. If your account is overdrawn or has a negative balance, you will need to pay that amount before closing. If you have pending disputes or claims on the account, Bank of America may not allow online closure until those are resolved.
To close by phone, call the number on the back of your debit card or savings account statement. A Bank of America representative will verify your identity, confirm your account balance, and process the closure. This usually takes about 10 minutes. To close in person, visit your local Bank of America branch with a photo ID and ask to close your savings account. The branch staff will verify your identity and process the closure on the spot.
What to do with your final balance and important documents
Before closing, make sure you have moved all your money out of the account. If you forget and the account closes with a balance still in it, contact Bank of America when ready. They can reopen the account or issue a check for the remaining balance, though this may take additional time.
Keep any statements or records related to this account for your records, especially if you used it for tax-deductible savings or had significant transaction history. You can read statements from Bank of America online banking before closing the account. Once the account is closed, accessing old statements becomes more difficult, though Bank of America can usually provide them if you request them within a certain timeframe.
Frequently Asked Questions
Can I close my savings account if I have a negative balance?
No. You must pay the negative balance first before you can close the account online. Contact Bank of America to arrange payment, or visit a branch. Once the balance is zero or positive, you can proceed with closure.
What happens to my debit card if I close my savings account?
Your debit card is linked to your checking account, not your savings account, so closing savings will not affect it. If you close your checking account instead, your debit card will stop working.
How long does it take for my account to fully close after I submit the request?
Bank of America typically closes the account within one to three business days. You will receive a confirmation email once it is complete. The account may still appear in your online banking for a short time after closure.
Can I reopen a Bank of America savings account with the same account number after closing?
No. Once an account is closed, that account number is retired and cannot be reused. If you want to open a new savings account later, it will have a different account number.
What if I have automatic transfers set up from this savings account?
Automatic transfers will be canceled when the account closes. If you have bills or payments set to come from this account, update them to use a different account before closing, or those payments may fail.