Call Bank of America or visit a branch to close your savings account
Bank of America lets you close a savings account by phone, in person at a branch, or through their website. The fastest route is a phone call to the number on the back of your debit card or savings account statement — you'll reach a representative who can process the closure immediately. If you prefer to do it in person, walk into any Bank of America branch with your ID and ask to close the account. Online closure is also available through your Bank of America account settings, though the option may not appear if your account has an outstanding balance or uncleared transactions.
Before you call or visit, make sure your account balance is zero. If you have money in the account, the bank will either transfer it to another account you own or issue you a check. If you have pending transactions or holds on the account, the bank may ask you to wait until those clear before closing. The entire process usually takes a few minutes if everything is in order.
Key Takeaways
- You can close a Bank of America savings account by phone, at a branch, or online, and the process takes just a few minutes if your account balance is zero.
- Bring a valid ID if you close in person, and have your account number ready if you call.
- Any remaining balance will be transferred to another account you own or sent to you by check.
- If you have pending transactions or holds, the bank may require you to wait until they clear before closing the account.
What happens to your money when you close the account
Bank of America will not simply delete your balance. If your savings account has money in it when you request closure, the bank will move that balance to another account in your name — usually a checking account if you have one. You can tell the representative which account to transfer the funds to, or you can ask them to issue a check instead.
The check will be mailed to the address on file for your account. This typically takes five to seven business days to arrive. If you need the money faster, request a transfer to another account instead. If you have no other Bank of America account and want a check, confirm the mailing address before you close so the check goes to the right place.
Prepare your account before you close it
Stop any automatic deposits or transfers that feed into this savings account. If your paycheck, government benefits, or other regular payments go directly into this account, you'll need to update those instructions with your employer or the paying organization before closure. Bank of America cannot redirect automatic deposits for you — you have to do it yourself.
Similarly, cancel any automatic transfers or bill payments that pull money from this savings account. Check your account settings for recurring transfers, scheduled payments, or linked services. If you close the account while these are still active, the transactions will fail and may trigger overdraft fees on another account or cause a missed payment.
Close the account in person at a branch
Bring your valid ID and go to any Bank of America branch during business hours. Tell a representative you want to close your savings account. They will pull up your account, confirm the balance, and ask where you want the money to go. If the balance is zero, they can close it on the spot. If there's money in the account, decide whether to transfer it to another account or receive a check.
The representative will print a confirmation that the account is closed. Keep this receipt for your records. If you have questions about pending transactions or holds, ask the representative before you leave — they can check the account status and tell you whether closure can happen immediately or needs to wait.
Close the account by phone
Call the customer service number on the back of your Bank of America debit card or on your account statement. Have your account number and a form of ID ready. Tell the representative you want to close your savings account. They will verify your identity, confirm your account balance, and ask where to send any remaining money.
The call usually takes five to ten minutes. The representative will confirm the closure and may offer you a confirmation number. Write down this number and the date of the call. If you don't receive written confirmation in the mail within a few days, call back and reference the confirmation number to verify the account was actually closed.
Close the account online
Log into your Bank of America account and look for account settings or account management options. Some accounts show a "Close Account" button in the account details section. Click it and follow the prompts. The system will show your current balance and ask where to send the money if there's any left.
Online closure only works if your account has a zero balance and no pending transactions. If the option doesn't appear, it means your account isn't may be able to access for online closure at that moment — usually because of a balance, a hold, or a pending transaction. In that case, call or visit a branch instead.
What to do if the bank won't close your account
Bank of America may delay closure if your account has a negative balance, pending transactions, or an active hold. A negative balance means you owe the bank money — you'll need to deposit funds to bring it to zero before closure. Pending transactions are payments or transfers that haven't finished processing yet; the bank will ask you to wait until they clear, which usually takes one to three business days.
If there's a hold on the account (often placed when fraud is suspected or when there's a dispute), you'll need to resolve that first. Call the number on your statement and ask why the hold is there and how long it will stay. Once the hold is lifted and pending items clear, you can close the account. If the bank is refusing to close the account for another reason, ask to speak with a supervisor and request an explanation in writing.
Frequently Asked Questions
Can I close my Bank of America savings account if I have a negative balance?
No. You must bring the balance to zero or positive before closure. If you owe the bank money, deposit enough to cover the negative balance first. Once the account is at zero or above, you can close it.
Will closing my savings account affect my credit score?
Closing a savings account does not affect your credit score. 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 I close my account and then need to access it again?
Once closed, the account cannot be reopened. You would need to open a new savings account. If you're unsure about closure, consider leaving the account open but inactive instead of closing it permanently.
How long does it take to receive a check after closing my account?
Bank of America typically mails checks within five to seven business days after closure. The check is mailed to the address on file for your account. If you don't receive it within two weeks, call the bank and ask them to trace it.
Do I need to close my account in person, or can I do it remotely?
You can close by phone or online if your account is may be able to access. In-person closure is not required. However, if your account has complications like holds or pending transactions, a branch representative may be able to resolve them faster than a phone call.