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 method depends on your account type and whether you have a zero balance

Bank of America lets you close a savings account through three routes: calling customer service, visiting a branch in person, or using online banking if your account is may be able to access. Before you start, withdraw or transfer any remaining balance — the bank will not close an account with money in it. You will also want to know your account number and have your ID ready, since the bank needs to verify your identity before processing the closure.

The fastest method is usually a phone call to Bank of America's customer service line at 1-800-432-1000. A representative can walk you through the process, answer questions about any pending transactions, and confirm the closure is complete. If you prefer to handle it in person, any Bank of America branch can close the account for you during business hours.

Key Takeaways

• Your savings account must have a zero balance before Bank of America will close it, so transfer or withdraw all remaining funds first.
• You can close the account by phone at 1-800-432-1000, in person at any branch, or through online banking if your account type supports it.
• Have your account number and a valid ID ready when you contact the bank, since they will verify your identity before processing the closure.
• Ask the bank to confirm the closure in writing or check your online banking a few days later to make sure the account no longer appears.

Closing your account by phone

Call Bank of America customer service at 1-800-432-1000 and tell the representative you want to close your savings account. They will ask you to verify your identity using information like your Social Security number, date of birth, or answers to security questions you set up when you opened the account. Have your account number ready to speed up the process.

The representative will confirm your account balance is zero and check for any pending deposits or withdrawals. If there are transactions still processing, they may ask you to wait a few business days before closing. Once everything clears, they will submit the closure request and give you a confirmation number. Write down this number in case you need to reference the closure later.

Closing your account in person at a branch

Visit any Bank of America branch with your ID and ask to close your savings account. Bring your account number if you have it, though the teller can look it up using your name and ID. The teller will verify your identity, check that your balance is zero, and process the closure on the spot.

This method works well if you have questions or want to move money to another account at the same branch before closing. The teller can transfer funds to a checking account or another bank while you are there. Ask for a written confirmation of the closure before you leave the branch.

Closing your account online

Bank of America's online banking platform does not offer account closure for all account types. Log into your account and look for a "Close Account" or "Account Services" option in the settings menu. If the option appears, follow the prompts to request closure. If it does not appear, your account type may not support online closure, and you will need to call or visit a branch instead.

Online closure requests typically take a few business days to process. After you submit the request, check your email for a confirmation message from Bank of America. If you do not hear back within a week, call customer service to confirm the closure went through.

What happens to linked accounts and automatic payments

Before you close your savings account, check whether any automatic transfers or bill payments are connected to it. If you have set up automatic deposits from your employer or automatic bill payments from this account, those will fail once the account closes. Log into your online banking and review your transfer and payment settings, then update them to use a different account or cancel them if you no longer need them.

If you have a linked checking account at Bank of America, closing the savings account will not affect the checking account. However, if you have overdraft protection set up so that the savings account covers overdrafts on your checking account, that protection will end once the savings account closes.

After your account is closed

Bank of America will send you a final statement showing the closure date and any remaining balance (which should be zero). This statement arrives by mail within one to two weeks. Keep this statement for your records, as it serves as proof that the account was closed.

Check your online banking a few days after closure to confirm the account no longer appears in your account list. If the account still shows up after a week, call customer service to verify the closure was completed. In rare cases, pending transactions can delay closure, and the bank may contact you to resolve them before the account can be closed.

Frequently Asked Questions

Can I close my savings account if it still has money in it?

No. Bank of America will not close an account with a balance. You must withdraw or transfer all funds to another account first. Once the balance reaches zero, you can request closure.

Will closing my savings account affect my credit score?

Closing a savings account does not affect your credit score. Savings accounts do not appear on your credit report. Only credit accounts like credit cards and loans impact your credit history.

How long does it take for Bank of America to close my account?

Closure usually takes one to three business days after you submit the request, though it can take longer if there are pending transactions. You will receive a confirmation once the closure is complete.

What if I closed my account by mistake?

Contact Bank of America customer service right away. If the closure has not fully processed, they may be able to reopen the account. The sooner you call, the better your chances of reversing the closure.

Do I need to close my account in person, or can I do it over the phone?

You can close your account over the phone or in person — both methods work equally well. Choose whichever is more convenient for you. Online closure is also an option if your account type supports it.