The basic steps to close your account
You can close a Bank of America savings account by 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 can hand over your debit card, confirm your identity, and complete the closure on the spot. If you call, have your account number ready and be prepared to answer security questions. Online closure is available through the Bank of America website or mobile app, though some account types may require a phone call or branch visit to finish the process.
Before you close the account, make sure any automatic transfers or bill payments linked to it have been moved to another account or cancelled. Bank of America will not process transactions after closure, so a missed payment could damage your credit or result in overdraft fees at the merchant's end. If you have checks outstanding or pending deposits, wait for them to clear first.
You do not need to have a zero balance to close the account. If there is money remaining, Bank of America will mail you a check or transfer it to another account you specify. If the account is overdrawn, you will need to pay the negative balance before closure is complete.
Key Takeaways
- Visit a branch, call customer service, or use online banking to close your account; in-person closure is usually fastest.
- Cancel or redirect any automatic payments, transfers, or direct deposits before you close to avoid failed transactions.
- Wait for outstanding checks and pending deposits to clear, or they may bounce after the account closes.
- Bank of America will mail a check for any remaining balance or transfer it to another account you name.
- If your account is overdrawn, you must pay the negative balance before the closure is final.
What happens to your remaining balance
Any money left in the account after closure will be returned to you. You can ask Bank of America to transfer the balance to another account—either another Bank of America account you own or an account at a different bank. Provide the receiving account number and routing number if you want the transfer to happen electronically. The transfer usually takes one to three business days.
If you do not specify where the money should go, Bank of America will mail you a check to the address on file. This check typically arrives within five to seven business days after closure, though mail delivery times vary. Make sure your mailing address is current before you close the account, or the check may be delayed or lost.
Cancelling linked services and automatic payments
Before closing, review what is connected to this savings account. Common links include automatic bill payments, transfers to other accounts, direct deposit paychecks, and recurring transfers to investment or retirement accounts. Each one needs to be stopped or moved to a different account.
Log into your Bank of America online account or call customer service to see a full list of automatic transactions. For each one, either cancel it or change the linked account to another one you are keeping open. If you cancel a bill payment, contact the biller separately to confirm they received the cancellation—do not assume Bank of America's cancellation reaches them automatically. For payroll direct deposit, contact your employer's payroll department and provide them with your new account details.
Stopping these before closure prevents overdraft fees, late payment penalties, or bounced checks. A merchant may charge you a fee if a payment fails, and that fee can appear on your credit report.
Handling outstanding checks and pending deposits
If you have written checks that have not yet cleared, wait until they do before closing the account. A check that arrives after the account closes will bounce, and the recipient may charge you a returned-check fee. You can call Bank of America to ask whether specific checks have cleared, or log into online banking to see pending transactions.
Similarly, if you are expecting a deposit—a paycheck, tax refund, or transfer from another account—wait for it to arrive and post before you close. Once the account is closed, incoming deposits will be rejected. If a deposit arrives after closure, contact Bank of America to see if they can redirect it, though this is not always possible.
Closing the account at a branch
Bring a government-issued photo ID and your debit card to any Bank of America branch. Tell the representative you want to close your savings account. They will verify your identity, confirm there are no outstanding transactions, and ask where you want any remaining balance sent. The entire process usually takes 10 to 15 minutes.
The representative will deactivate your debit card immediately if it is linked to the savings account. If you have a checking account that you are keeping open, ask whether your debit card is tied to that account instead—if so, you may be able to keep using it. After closure, the savings account will no longer appear in your online banking portal, though you may see it in your account history for a period of time.
Closing the account by phone
Call Bank of America customer service at the number on the back of your debit card or on your statement. Have your account number and a form of ID ready. The representative will ask security questions to confirm your identity, then walk you through the closure process. You will need to tell them where to send any remaining balance.
Phone closure takes about 15 to 20 minutes. The representative will confirm the closure in writing and may offer to email you a summary. Ask for a confirmation number and keep it for your records. After the call, log into your online account within a few hours to confirm the account no longer appears in your active accounts list.
Closing the account online
Log into your Bank of America online account or mobile app and navigate to the account settings or account management section. Look for an option to close or deactivate the account. You may see a link labeled "Close Account," "Manage Account," or "Account Services." Click through and follow the prompts to confirm closure.
Not all account types can be closed online. If you do not see a close option, or if the system tells you to contact customer service, call or visit a branch instead. Some savings accounts with outstanding holds, pending disputes, or linked credit products require a phone call or in-person visit to close.
What to do if the account has a negative balance
If your account is overdrawn—meaning you owe Bank of America money—you cannot close it until the negative balance is paid. Deposit funds to bring the account to zero or positive, then proceed with closure. The deposit can come from another Bank of America account, an external transfer, or a cash deposit at a branch.
If you are unsure of the exact amount owed, call customer service or visit a branch and ask for the current balance. They will tell you exactly how much to deposit. Once the balance is zero or positive, you can close the account immediately.
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. However, if you closed the account due to a problem with the bank or a dispute, opening a new account will not restore the old one. Your transaction history and account number will not return. If you closed it simply because you no longer needed it, opening a new account is straightforward and takes a few minutes online or at a branch.
Will closing my savings account hurt my credit score?
Closing a savings account does not directly affect your credit score because savings accounts do not appear on your credit report. However, if the account was overdrawn and the debt was sent to collections, that collection account could hurt your score. Closing the savings account itself is not the issue—the unpaid debt is.
What if I have a pending dispute on the account?
Bank of America will not close an account while a dispute is under investigation. Wait for the dispute to be resolved, then close the account. If you need to close it urgently, call customer service and explain the situation; they may be able to work around an active dispute, but this is not may provide.
How long does it take for the account to fully close?
The closure itself is immediate—the account stops accepting transactions right away. However, it may take a few days for the account to disappear from your online banking portal and for any remaining balance to be sent to you. If you requested a check, allow five to seven business days for mail delivery.
Do I need to close my debit card when I close my savings account?
If your debit card is linked only to the savings account, it will be deactivated automatically when you close the account. If it is linked to a checking account or another account you are keeping open, the card will remain active. Ask the Bank of America representative which accounts your card is tied to before you close the savings account.