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 balance

Bank of America lets you close a savings account through three routes: calling their customer service line, visiting a branch in person, or using their online banking portal. The fastest method is usually a phone call, which takes about 10 minutes. If you have money in the account, the bank will ask how you want to receive it — as a check mailed to your address, a transfer to another bank account, or a withdrawal at a branch. If you owe the bank money (from overdrafts or fees), they will deduct that before sending you any remaining balance.

Before you close the account, make sure no automatic payments or direct deposits are still linked to it. If you forget to redirect these, payments may fail or deposits may go nowhere, and you could face late fees or missed income. Bank of America will not automatically stop these transfers when you close the account.

Key Takeaways

• You can close a savings account by calling Bank of America at 1-800-432-1000, visiting a branch with your ID, or logging into your online account and requesting closure through the settings menu.
• Any remaining balance will be sent to you as a check, transferred to another account you name, or withdrawn in cash, depending on what you choose.
• You must stop or redirect any automatic payments, recurring transfers, or direct deposits before closing the account, or they will fail.
• If your account has an outstanding balance due to overdrafts or unpaid fees, Bank of America will deduct that amount before returning any remaining money to you.

Closing your account by phone

Call Bank of America's customer service line at 1-800-432-1000. Have your account number and a government-issued ID ready. A representative will verify your identity by asking for your Social Security number, date of birth, and possibly recent transaction details. This process usually takes 2 to 3 minutes.

Once verified, tell the representative you want to close your savings account. They will ask whether you have any automatic payments or direct deposits tied to the account. Be honest here — if you say no and you actually do, those transactions will fail. The representative will then ask how you want to receive your balance: mailed check, transfer to another bank account, or cash withdrawal at a branch. If you choose a transfer, have the receiving bank's routing number and your account number at that bank ready.

The account typically closes within 1 to 3 business days after the call. You will receive written confirmation by mail. If you chose a check, it arrives within 7 to 10 business days. If you chose a transfer, it may take 3 to 5 business days depending on the receiving bank.

Closing your account in person at a branch

Visit any Bank of America branch with your government-issued ID and your debit card or account number. Tell a teller you want to close your savings account. They will verify your identity and ask the same questions as a phone representative: whether you have automatic payments or direct deposits, and how you want to receive your balance.

If you choose to withdraw your balance in cash, the teller can do that when ready. If the balance is large, the branch may need to order cash, which can take a day or two. If you choose a check or transfer, the process is the same as closing by phone — the check arrives in 7 to 10 days, or the transfer takes 3 to 5 days.

Closing in person is useful if you want to withdraw your balance right away or if you prefer to speak face-to-face. It also gives you a paper receipt on the spot. The whole process takes about 10 to 15 minutes.

Closing your account online

Log into your Bank of America online account and navigate to the settings or account management section. Look for an option labeled "Close Account" or "Account Services." Select your savings account from the list and follow the prompts. The online system will ask you to confirm that you have no automatic payments or direct deposits, and to choose how you want to receive your balance.

Online closure is the most convenient if you are comfortable with digital banking, but it has a limitation: you cannot withdraw cash or receive an when ready check. You must choose either a mailed check or a transfer to another bank account. After you submit the request, the account closes within 1 to 3 business days, and your balance is sent according to your choice.

If the online option does not appear or you run into an error, call customer service or visit a branch instead. Some account types or situations require a phone call or in-person visit.

What happens to your balance and any outstanding debt

Bank of America will not close your account if you owe money on it. If your account has a negative balance — from overdrafts, unpaid fees, or other charges — the bank will deduct that amount from any remaining funds before sending you anything. For example, if your account has $500 but you owe $75 in overdraft fees, you will receive $425.

If you owe more than your balance, the bank may refuse to close the account until you pay the difference. In that case, you will need to deposit money to cover the debt, or call customer service to discuss a payment plan. Once the debt is settled, you can proceed with closure.

If your account has a positive balance, Bank of America will send it to you in full (minus any legitimate fees or charges). There is no fee to close a savings account itself.

Stopping automatic payments and direct deposits before you close

This is the most common mistake people make. If you have automatic bill payments, recurring transfers, or direct deposits set to your savings account, you must stop or redirect them before closing. Bank of America will not do this automatically.

Log into your online account and check the "Transfers" or "Bill Pay" section for any recurring transactions. For each one, either cancel it or change the destination account to another bank account you own. If you have direct deposits (like a paycheck), contact your employer or the organization sending the deposit and give them your new account number at your new bank.

Do this at least one week before you close the account. If a payment fails because the account is closed, you may face late fees from the company you owe money to, or you may miss income if a direct deposit bounces.

Timeline and what to expect after closure

The account itself closes within 1 to 3 business days of your request. However, the time it takes to receive your balance depends on the method you chose. A mailed check takes 7 to 10 business days. A transfer to another bank account takes 3 to 5 business days. A cash withdrawal at a branch happens when ready (or within 1 to 2 days if the branch needs to order cash).

You will receive written confirmation of the closure by mail within 1 to 2 weeks. Keep this letter for your records. Once the account is closed, you will no longer be able to access it online or at a branch, and any debit card linked to it will stop working.

If you do not receive your balance within the timeframe stated, call customer service with your confirmation letter. Delays can happen, especially during high-volume periods or if there is an issue with the receiving bank.

Frequently Asked Questions

Can I close my savings account if I have a negative balance?

No. Bank of America will not close an account with a negative balance. You must deposit money to bring the balance to zero or positive, or pay off the debt separately. Once the balance is settled, you can proceed with closure.

What if I have a linked checking account?

Closing your savings account does not affect your checking account. They are separate. However, if you have automatic transfers set up between them, you should stop those transfers before closing the savings account.

Do I need to visit a branch in person, or can I do it all by phone?

You can close your account entirely by phone or online. You do not need to visit a branch unless you want to withdraw your balance in cash when ready. Phone and online closure are just as valid.

How long does it take to receive my balance as a check?

Bank of America typically mails a check within 7 to 10 business days after the account closes. The check is mailed to the address on file. If you do not receive it within 10 business days, contact customer service.

What if I close my account and then realize I made a mistake?

Once an account is closed, Bank of America cannot reopen it. You would need to open a new savings account. If you closed it and forgot to redirect automatic payments, contact the companies or organizations sending those payments and provide them with your new account information.