You can close a Bank of America savings account in person, by phone, or online, depending on your account type and what you prefer

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 online banking if your account type supports it. The fastest method is usually in person, because a banker can confirm the closure on the spot and answer questions about what happens to any remaining balance. Phone and online closures work too, but they take longer to process — typically three to five business days before the account officially closes.

Before you close, make sure any automatic payments or transfers linked to the account are moved to another bank account. If you have a balance remaining, Bank of America will send it to you by check or transfer it to another account you specify. There is no fee to close a savings account at Bank of America.

Key Takeaways

  • You can close your account in person at any Bank of America branch, by calling 1-800-432-1000, or through online banking if your account supports it.
  • Stop any automatic payments or recurring transfers before you close, or they may fail and create overdraft fees on another account.
  • Any money left in the account will be returned to you by check or transferred to another account you name.
  • Closing takes effect when ready in person or within three to five business days by phone or online.

Closing in person at a Bank of America branch

Walk into any Bank of America branch with a valid photo ID and ask to close your savings account. A banker will pull up your account, confirm there are no holds or pending transactions, and process the closure right away. This is the simplest route because you leave with confirmation and can ask questions if anything is unclear.

Bring your ID and, if possible, the account number or a recent statement. If you have a balance, tell the banker whether you want it sent by check to your mailing address or transferred to another account. If you choose a transfer, have the routing number and account number of the receiving bank ready. The banker will give you a confirmation number or receipt before you leave.

Closing by phone with Bank of America customer service

Call Bank of America at 1-800-432-1000 during business hours and tell the representative you want to close your savings account. Have your account number and a photo ID ready — they will ask for your Social Security number or other identifying information to confirm you own the account. The representative will check for pending transactions and ask what you want to do with any remaining balance.

Phone closures take three to five business days to complete. The representative will give you a confirmation number. Write it down and keep it in case you need to follow up. If you do not receive confirmation that the account is closed within a week, call back with your confirmation number and ask for an update.

Closing through online banking

Not all Bank of America account types can be closed through online banking. If your savings account supports it, you can close it by logging into your account, finding the account settings or "Close Account" option, and following the prompts. The system will ask you to confirm your identity and choose what to do with any remaining balance.

Online closures typically take three to five business days. You will receive a confirmation email once the request is submitted. Check your email (including spam folders) for this confirmation and keep it for your records. If you do not see a confirmation within 24 hours, the account may not support online closure — call customer service instead.

What to do with automatic payments and transfers before closing

Before you close, log into your account and look for any automatic bill payments, recurring transfers, or linked services. Common examples are automatic transfers to a checking account, automatic bill payments for utilities or subscriptions, or direct deposit of paychecks. If any of these are set to pull from your savings account, stop them or change them to a different account first.

If you close the account while payments are still linked, those payments will fail. A failed payment can trigger overdraft fees on another account, late fees from the company you were paying, or a missed payment on your credit report. Spend a few minutes checking before you close — it takes less time than fixing the problems that follow.

What happens to money left in the account

Bank of America will not keep any balance remaining in your account. When you close, you choose whether the money goes to you by check or transfers to another bank account. If you choose a check, it will be mailed to the address on file — this usually takes five to ten business days. If you choose a transfer, it will go to the account you name, typically within one to three business days.

If you do not specify what to do with the balance during the closure process, Bank of America will mail you a check. Keep track of when you close the account so you know when to expect the check. If more than 30 days pass and you have not received it, call customer service with your confirmation number and ask them to trace it.

Reasons people close savings accounts and what to consider first

People close savings accounts for different reasons: moving to a different bank, consolidating multiple accounts, or straightforward not using the account anymore. Before you close, think about whether you might need it later. If you are closing because of fees or low interest, you might find a different Bank of America account that works better, or you might move to a bank with lower fees.

If you are closing because you want to stop banking with Bank of America entirely, that is fine — just make sure you have opened an account at another bank first and moved any direct deposits or automatic payments there. Closing an account does not hurt your credit score, but having no bank account at all can make it harder to receive paychecks or pay bills.

Frequently Asked Questions

Will closing my savings account hurt my credit score?

No. Closing a savings account does not appear on your credit report and does not affect your credit score. Credit scores track borrowing and repayment, not deposit accounts. You can close a savings account without any impact on your credit.

What if I have a pending deposit or check that has not cleared yet?

Tell the banker or representative about it before you close. They may ask you to wait for the deposit to clear, or they may be able to process the closure anyway and have the deposit sent to you separately. It depends on the timing and the type of deposit.

Can I reopen the account after I close it?

You can open a new savings account with Bank of America at any time, but it will be a different account with a different account number. You cannot reactivate a closed account. If you think you might need the account again soon, consider leaving it open instead.

Do I have to close the account in person, or can I do it by phone?

You can close by phone, online, or in person — whichever you prefer. In-person closure is fastest because it takes effect when ready. Phone and online closures take three to five business days. All three methods are free.

What if there is a negative balance or I owe Bank of America money?

You cannot close an account with a negative balance. The bank will ask you to bring the account to zero or positive first. If you owe money, ask the representative how much and pay it before closing. Once the balance is settled, you can proceed with closure.