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 first
Bank of America lets you close a savings account through three main routes: visiting a branch in person, calling customer service, or using online banking if your account is may be able to access. Before you close, you need to withdraw or transfer any remaining balance, make sure there are no pending transactions, and decide what to do with any direct deposits or automatic payments tied to that account. The process itself takes minutes once the account is ready, but the funds may take a few business days to reach you depending on how you withdraw them.
The most common reason people close savings accounts is to consolidate accounts, move to a different bank, or stop paying monthly maintenance fees. Bank of America does not charge a fee to close a savings account, and you will not lose access to other accounts you hold with them—closing one account does not affect your checking account or credit cards.
Key Takeaways
- You must have a zero balance before closing; withdraw or transfer all money out first.
- Call 1-800-432-1000 or visit your local branch to request closure—online closure is not available for all account types.
- Stop or redirect any automatic transfers, direct deposits, or bill payments linked to the savings account before you close it.
- After closure, keep your final statement and confirmation number in case you need proof the account was closed.
Prepare your account before requesting closure
The first step is to move all money out of the savings account. You can transfer the balance to another Bank of America account you own, move it to a different bank, or withdraw it in cash. If you have a linked checking account, a transfer between your own accounts usually completes within one business day. If you are moving money to a different bank, use an external transfer through online banking or ask the other bank for their routing and account number so Bank of America can send the funds directly.
Check your account for any pending transactions—deposits that have not cleared yet, holds on funds, or scheduled transfers. Bank of America will not let you close an account with a pending transaction or a negative balance. If you see a hold, contact the branch or customer service to find out when it will release. Once the balance is zero and there are no holds, you are ready to request closure.
Review any automatic payments or direct deposits tied to this account. If your paycheck or a regular payment goes into this savings account, you need to change the routing information with your employer or the company sending the payment before you close the account. Closing the account will not stop the payment—it will bounce or be rejected, which can cause late fees or missed bills. Update these details at least a few days before you request closure.
Close the account by phone
Calling Bank of America customer service is the fastest way to close a savings account if you have already emptied it. Call 1-800-432-1000 and tell the representative you want to close your savings account. Have your account number ready. The representative will confirm that your balance is zero, check for any pending transactions, and process the closure. The call usually takes five to ten minutes.
Ask the representative for a confirmation number and the date the account will be closed. Some accounts close when ready; others may take one to two business days to fully close in the system. Request that they email or mail you a final statement showing the closure. Keep this confirmation number and statement for your records in case you need proof later that the account was closed.
Close the account in person at a branch
If you prefer to close the account face-to-face, visit any Bank of America branch with a photo ID and your account number. Tell the teller you want to close your savings account. They will verify that the balance is zero and check for pending transactions, just as a phone representative would. The process takes about ten minutes.
Ask for a written confirmation of closure before you leave the branch. The teller will give you a receipt or a letter with the closure date and confirmation number. If you do not receive written confirmation on the spot, ask when you can expect a final statement in the mail. Having this paper trail protects you if there is ever a question about whether the account was actually closed.
Close the account through online banking
Bank of America's online banking platform does not offer account closure for all savings account types. Money Market Accounts and some specialty savings products cannot be closed online. If your account type supports online closure, you can request it through the settings or account management section of your online banking dashboard.
Log in to your Bank of America account, navigate to the account you want to close, and look for a "Close Account" or "Account Settings" option. Follow the prompts to confirm that your balance is zero and that you want to proceed. The system will ask you to review any pending transactions. Once you submit the request, you will receive a confirmation number on screen. Take a screenshot or write down this number, and watch your email for a confirmation message from Bank of America.
Online closure may take one to three business days to process. If you do not see confirmation within that timeframe, call customer service to verify that the closure went through.
What happens after you close the account
Once the account is closed, you will no longer be able to access it through online banking or at the ATM. Any debit card linked only to that savings account will stop working. If the debit card was linked to both a checking and savings account, it will still work with the checking account. Bank of America will not reopen the account unless you request it within a certain timeframe—typically 30 to 90 days—so if you change your mind quickly, call customer service right away.
Your final statement will show the closure date and any interest earned up to that date. If you had a promotional rate or bonus on the account, closing it ends that benefit. You can open a new savings account with Bank of America at any time if you change your mind later, but you will start fresh with a new account number and no prior history on that specific account.
Troubleshooting common closure problems
If Bank of America will not let you close the account, the most common reason is that the balance is not actually zero. Even a few cents can block closure. Ask the representative to tell you the exact balance down to the penny, then withdraw or transfer that amount. Another reason is a pending transaction—a check that has not cleared, a transfer in progress, or a hold placed by the bank. These usually clear within one to three business days.
If you have a negative balance (you owe the bank money), you must pay that amount before closure. This can happen if a transaction posted after you thought the account was empty, or if a check bounced. Once the negative balance is paid, the account balance will be zero and you can close it. If you are unsure why closure is being blocked, ask the representative to review the account in detail and explain exactly what needs to happen before closure is possible.
Frequently Asked Questions
Can I close my Bank of America savings account if I have a negative balance?
No. You must pay the negative balance first to bring the account to zero. Once you pay what you owe, the account balance will be zero and you can request closure. The payment can come from another account you own or from a transfer from outside Bank of America.
Will closing my savings account affect my checking account or credit score?
Closing a savings account will not affect your checking account—they are separate and closing one does not touch the other. It will not hurt your credit score because savings accounts do not appear on your credit report. Your credit is only affected by credit products like credit cards and loans.
How long does it take to close a Bank of America savings account?
The request itself takes minutes by phone or in person. The account may close when ready or within one to three business days depending on the account type and whether there are any pending transactions. You will receive a confirmation number when you request closure.
What if I closed my account and then realized I made a mistake?
Call Bank of America customer service right away. If the account was closed within the last 30 to 90 days, they may be able to reopen it. After that window closes, you cannot reopen the same account—you would have to open a new savings account instead. The sooner you call, the better your chances.
Do I need to close my account in the same state where I opened it?
No. You can close your account at any Bank of America branch nationwide, or by phone from anywhere. You do not need to visit the branch where you originally opened the account.