How to Close Your Bank of America Savings Account

You can close a Bank of America savings account by phone, in person, or online, but the fastest way is usually a phone call to customer service

Bank of America lets you close a savings account without a penalty or waiting period. You do not need to visit a branch — a 15-minute phone call to 1-800-432-1000 will do it. If you prefer to close the account in person, you can walk into any Bank of America branch with your ID. Online closure is also available through your account settings, though the phone route tends to be faster because a representative can answer questions about what happens to your remaining balance and any pending transactions.

Before you close, make sure your account balance is zero or that you have arranged to move any remaining money. Bank of America will not close an account with funds still in it. You should also check that no automatic deposits or withdrawals are tied to the account — if a paycheck or bill payment is scheduled to hit after closure, it will fail.

Key Takeaways

• Call 1-800-432-1000 to close your account over the phone, or visit a branch in person with your ID.
• Your account balance must be zero before Bank of America will close the account.
• Stop any automatic deposits or bill payments linked to the account before you close it, or they will fail.
• Bank of America does not charge a fee to close a savings account at any time.
• If you have a debit card tied to the account, it will stop working once the account closes.

What to do before you call or visit

Withdraw or transfer any money remaining in the account. You can move it to another Bank of America account, a different bank, or withdraw it as cash. If you have a small balance and want to close quickly, withdrawing cash at an ATM or teller is the simplest route.

Check your account for any pending transactions. Log into your online banking or call 1-800-432-1000 to review recent activity and confirm nothing is scheduled to post after you close. This is especially important if you have automatic bill payments or direct deposits set up — they will bounce if the account no longer exists.

Gather your ID. If you are closing in person, bring a government-issued ID like a driver's license or passport. If you are calling, you will need to verify your identity by answering security questions or providing your Social Security number.

Closing by phone

Call Bank of America customer service at 1-800-432-1000. You will reach a representative who can walk you through the closure. Have your account number ready, though the representative can look it up using your Social Security number and date of birth.

The representative will confirm your account balance is zero, ask why you are closing (this is optional to answer), and then process the closure. The account typically closes within one business day. You will receive a confirmation letter in the mail within 7 to 10 business days.

If you have a debit card attached to the account, tell the representative so they can note that it will no longer work. You do not need to return the card — it will straightforward stop functioning once the account closes.

Closing in person at a branch

Visit any Bank of America branch during business hours with your ID and your account number (or the phone number associated with the account). A teller can close the account on the spot. Bring any remaining balance in cash or be ready to transfer it to another account while you are there.

The teller will verify your identity, confirm your balance is zero, and process the closure. You will receive a receipt and a confirmation letter by mail. This method is useful if you want to withdraw cash at the same time or prefer to handle it face-to-face.

What happens to your debit card

Any debit card linked to the savings account will stop working once the account closes. You do not need to cut it up or return it — it will straightforward be declined at any point of sale or ATM. If you have other Bank of America accounts, a debit card tied to a different account will continue to work.

If you want a new debit card for a different Bank of America account, you can order one through online banking or ask a teller at a branch to issue one when ready.

If you have a linked checking account

Closing a savings account does not affect a linked checking account. They are separate accounts, and closing one has no impact on the other. However, if you had overdraft protection set up — where the savings account would cover overdrafts on the checking account — that protection will end once the savings account closes.

If you rely on overdraft protection, contact Bank of America before closing the savings account to set up a different overdraft option, such as a line of credit or overdraft fee waiver.

After your account closes

You will receive a final confirmation letter from Bank of America within 7 to 10 business days. Keep this letter for your records. The account will no longer appear in your online banking, and you will not receive statements for it.

If you need a record of transactions from the closed account for tax or legal reasons, you can contact Bank of America to request a statement. They typically keep records for seven years.

Frequently Asked Questions

Can I reopen a Bank of America savings account after I close it?

Yes. You can open a new savings account at any time by visiting a branch, calling 1-800-432-1000, or opening one online. There is no waiting period or penalty for reopening. You will receive a new account number and debit card if you request one.

What if I close my account but still have a pending check or transfer?

Any transaction scheduled to post after the account closes will fail. Contact Bank of America before closing to cancel or redirect any pending payments. If a check is already in the mail, contact the person or business who sent it and ask them to reissue it to your new account.

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

You can close entirely by phone at 1-800-432-1000. You do not need to visit a branch unless you prefer to. Phone closure is usually faster and takes about 15 minutes.

Will closing my savings account hurt my credit score?

No. Closing a savings account does not affect your credit score because savings accounts are not reported to credit bureaus. Only credit products like credit cards, loans, and lines of credit appear on your credit report.

What if my account has a negative balance?

Contact Bank of America when ready. A negative balance means you owe the bank money. You must pay the balance in full before the account can close. Call 1-800-432-1000 to discuss payment options.