You can close a Bank of America savings account by visiting a branch, calling customer service, or using online banking — the method depends on whether you want to withdraw your balance first or let the bank handle it
Closing a savings account at Bank of America takes a few steps, but none of them are complicated. The bank does not charge a fee to close an account. You will need to decide what to do with any money in the account — withdraw it before closing, transfer it to another account, or let the bank send you a check. The fastest way is usually to walk into a branch with your ID, but you can also do it by phone or through your online account if that works better for your schedule.
The account will be closed within a few business days of your request. After that, you will not be able to use the debit card tied to it, and no more deposits or withdrawals will go through. If you have automatic payments or direct deposits set to that account, you will need to update those before you close it, or they will fail.
Key Takeaways
- Bank of America does not charge a fee to close a savings account, and the process takes a few business days from the date you request it.
- You must decide what to do with your balance before closing — withdraw it in cash, transfer it to another account, or have the bank mail you a check.
- If you have automatic payments, direct deposits, or a debit card linked to the account, update those before you close it or they will stop working.
- You can close the account in person at a branch, by phone at 1-800-432-1000, or through your online banking portal.
Closing in person at a Bank of America branch
Walking into a branch with your ID is the most straightforward way to close your account. Bring your driver's license or passport and your account number if you have it handy — the teller can look it up by your name and ID if you do not. Tell them you want to close your savings account and what you want to do with the balance.
If you have money in the account, you can ask the teller to withdraw it as cash, transfer it to another Bank of America account you own, or have them mail you a check. Cash is the fastest — you walk out with the money that day. A transfer to another account happens within one business day. A check takes five to ten business days to arrive, depending on the mail.
The teller will confirm the account is closed before you leave. You will receive a confirmation letter in the mail within a few days. Keep this letter in case you ever need proof that the account was closed on a specific date.
Closing by phone with Bank of America customer service
Call 1-800-432-1000 during business hours — Bank of America's phone lines are open Monday through Friday, 8 a.m. to 9 p.m. Eastern time, and Saturday 9 a.m. to 5 p.m. Eastern time. Have your account number and ID ready. A representative will verify your identity by asking security questions, then walk you through the closure process.
Over the phone, you can request that the bank mail you a check for your balance, or you can arrange a transfer to another account. You cannot withdraw cash by phone. If you need the money when ready, ask the representative whether you can visit a branch to withdraw it before the account closes, or transfer it to another account and withdraw from there.
After you hang up, you will receive a confirmation letter in the mail. The account will close within a few business days. If you do not receive the letter within two weeks, call back to confirm the closure went through.
Closing through your Bank of America online account
Log into your Bank of America online banking portal and look for the account settings or account management section — this is usually under a menu labeled "Settings" or "Manage Accounts." Find your savings account in the list and look for a "Close Account" or "Account Options" button. Click it and follow the prompts.
The online process will ask you what you want to do with your balance. You can request a check be mailed to you or transfer the money to another Bank of America account you own. You cannot withdraw cash through the online portal. If you choose a check, it will arrive in five to ten business days.
After you submit the closure request, you will see a confirmation on your screen. The account will close within a few business days. You will also receive a confirmation letter in the mail. If the online option does not appear in your account, call customer service instead — some account types or situations require a phone call or branch visit.
What to do with automatic payments and direct deposits before closing
Before you close the account, check whether any automatic payments are set to come out of it — things like insurance premiums, utility bills, loan payments, or subscriptions. Log into each service's website or app and change the payment method to a different bank account or credit card. This usually takes a few minutes per service.
Also check whether your paycheck or any other regular deposits go into this account. Contact your employer's payroll department or the organization sending the deposit and give them your new account number. If you do not update these before closing, the payments will fail and you may face late fees or service interruptions.
Once you have moved all automatic payments and deposits to another account, you can safely close the savings account. The closure will not affect any other Bank of America accounts you have — only the one you are closing.
What happens to your debit card when you close the account
If your Bank of America debit card is tied only to the savings account you are closing, the card will stop working once the account closes. You will not be able to use it to withdraw money or make purchases. If you have a checking account with Bank of America, you can ask for a new debit card tied to that account instead.
If your debit card is linked to multiple accounts — for example, both a checking and savings account — it will continue to work after you close the savings account. It will just draw from the remaining account. You do not need to do anything special.
Destroy the old debit card once the account is closed. Cut it in half or shred it so it cannot be used. You do not need to return it to the bank.
What to do if you have a negative balance or owe the bank money
If your savings account has a negative balance — meaning you owe the bank money — you will need to pay that amount before the account can close. You can do this by transferring money from another account, depositing cash at a branch, or having the bank deduct it from your balance if you are closing another account at the same time.
If you do not pay a negative balance, the bank will not close the account. Instead, they may send the debt to a collection agency or report it to credit bureaus. It is better to settle it before you close. If you are unsure whether your account has a negative balance, call customer service or visit a branch to check.
Frequently Asked Questions
Does Bank of America charge a fee to close a savings account?
No. Bank of America does not charge a fee to close a savings account. The only cost is if you request a cashier's check instead of a regular check — that typically costs a few dollars, but you can avoid it by transferring the balance to another account instead.
How long does it take for the account to actually close?
The account will close within a few business days of your request. You will receive a confirmation letter in the mail within a week. Until you see that letter, the account is still technically open, so do not assume it is closed just because the teller or representative said so.
What if I close the account but then need to access it again?
Once an account is closed, you cannot reopen it. You would have to open a new savings account instead. If you are not sure you want to close it, wait a few days and think it over. There is no rush — you can close it anytime.
Can I close the account if I still owe money on a Bank of America loan?
Yes. Your savings account and any loans are separate. Closing the savings account will not affect a loan. However, if the loan payment is set to come out of that savings account, you must change it to a different account first, or the payment will fail.
What if the account has been inactive for a long time?
You can still close it. Inactive accounts do not prevent closure. Just follow the same process — visit a branch, call, or use online banking. If the account has been inactive for several years, Bank of America may have already frozen it, but you can still request closure and withdraw any remaining balance.