How to Close Your Bank of America Savings Account

You can close a Bank of America savings account in person, by phone, or online, but the method depends on your account type and whether you have a balance remaining

Bank of America lets you close a savings account through three routes: visiting a branch in person, calling their customer service line, or using their online banking platform. The fastest method is usually in person at a branch where you have an account, because the banker can confirm your identity when ready and process the closure on the spot. Phone and online closures take longer — typically three to five business days — because Bank of America needs to verify your identity through additional steps.

Before you close the account, you need to withdraw or transfer any remaining balance. Bank of America will not close an account with money in it. If you have a small balance, you can withdraw it in cash at the branch. If you want to move the money to another account, you can transfer it to a different Bank of America account or to an account at another bank using an external transfer.

Key Takeaways

• You must have a zero balance in the account before Bank of America will close it, so withdraw or transfer any remaining money first.
• Closing in person at a branch is the fastest method and requires only a government-issued ID.
• Phone closures require you to answer security questions to verify your identity, and the process takes three to five business days.
• Online closure through your Bank of America account may not be available for all account types, so check your account settings or call if you do not see a close option.

Closing your account in person at a Bank of America branch

Walk into any Bank of America branch where you have an account and tell a banker you want to close your savings account. Bring a government-issued ID — a driver's license, passport, or state ID card. The banker will pull up your account, confirm the balance is zero, and ask you to sign a form authorizing the closure. The account closes when ready, though it may take one to two business days for the closure to show in your online banking.

If your account has a balance, the banker will help you withdraw the money or transfer it before closing. If you have automatic payments or direct deposits linked to the account, ask the banker to help you move those to another account first, because closing an account with active transfers can cause payments to fail.

Closing your account by phone

Call Bank of America's customer service number on the back of your debit card or on your account statement. Tell the representative you want to close your savings account. They will ask you security questions to verify your identity — typically your Social Security number, date of birth, and answers to questions based on your account history. Once verified, they will confirm your balance is zero and process the closure request.

The representative will give you a confirmation number for the closure. Write it down. The account will close within three to five business days, and you will receive a written confirmation in the mail. If you do not see the closure reflected in your online account after five business days, call back with your confirmation number and ask for a status update.

Closing your account online through Bank of America's website or app

Log into your Bank of America account on their website or mobile app. Go to your account settings or account details page — the exact location varies depending on which platform you use. Look for an option that says "Close Account" or "Close This Account." Not all account types show this option online, so if you do not see it, you will need to close by phone or in person instead.

If the option appears, click it and follow the prompts. Bank of America will ask you to confirm that your balance is zero and that you want to proceed. After you submit the request, you will receive a confirmation number. The closure takes three to five business days, and you will get a written confirmation by mail.

What happens to your debit card and checks after closure

Your Bank of America debit card will stop working when ready or within one business day of closure, depending on whether you closed in person or remotely. You do not need to do anything with the card — it will straightforward decline at checkout or ATMs. If you want to destroy it for security reasons, you can cut it up or shred it.

If you have checks linked to the account, they will also stop working. Any checks you have not yet used should be destroyed so someone else cannot cash them. If you wrote a check that has not cleared yet, contact the recipient and ask them to wait for a replacement check from your new account, because the original check will bounce after the account closes.

Handling automatic payments and direct deposits before closure

Before you close the account, move any automatic bill payments or direct deposits to another account. Log into your Bank of America account and go to your bill pay or transfers section. Update each automatic payment to pull from a different account, or cancel it and set it up with your new bank instead. This usually takes one to two business days to take effect.

For direct deposits — like your paycheck or government benefits — contact your employer or the organization sending the money and give them your new account number. Direct deposit changes typically take one to two pay periods to go into effect, so make sure your old account stays open long enough to receive any deposits that are already in the pipeline.

What to do if you cannot close the account

If Bank of America refuses to close your account, the most common reason is that you still have a balance in it. Withdraw or transfer every cent, including any pending deposits or credits. If the balance shows as zero but the banker or representative says they cannot close it, ask them to explain why — there may be a hold on the account or a pending transaction you are not aware of.

If there is a dispute or the account has been inactive for a long time, Bank of America may have flagged it. Ask the representative to check for any holds or flags on the account. If there is a problem you cannot resolve over the phone, visit a branch in person and ask to speak with a manager, because they have more authority to override system blocks.

Frequently Asked Questions

Do I have to close my account in person?

No. You can close by phone or online if those options are available for your account type. In-person closure is fastest because the banker can process it when ready, but phone and online closures work just as well — they straightforward take three to five business days instead of one.

What if I have a small balance left in the account?

Withdraw it in cash at the branch, transfer it to another account, or ask the banker to mail you a check. Bank of America will not close an account with money in it, so you must move the balance to zero first.

Can I reopen the account after I close it?

Yes, but Bank of America treats it as a new account. You will need to go through the account opening process again, which includes identity verification and may require a new minimum deposit depending on the account type.

Will closing my 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 accounts like credit cards and loans appear on your credit report.

How long does it take to get my money back if I close the account?

If you withdraw cash at a branch, you have the money when ready. If you transfer to another bank, the transfer takes one to three business days depending on the receiving bank. If you ask for a check by mail, allow five to seven business days for delivery.