You can close a Bank of America savings account online through the mobile app or website, but the account must have a zero balance first
Bank of America lets you close a savings account from your phone or computer, but you cannot do it entirely online if your account has a balance. You will need to move or withdraw the money first, then request the closure through the app or website. If your account is already at zero, the closure request takes about five to seven business days to process. If you have a linked checking account or other Bank of America products, closing the savings account does not affect them.
The entire process—from moving your money to final closure—usually takes one to two weeks. You can start and finish the request online without visiting a branch, but you must have zero dollars in the account before you submit it.
Key Takeaways
- Your savings account must have a zero balance before Bank of America will close it online; any remaining funds must be transferred or withdrawn first.
- You can transfer money to another Bank of America account instantly, or withdraw it at an ATM or branch.
- The closure request itself takes five to seven business days after you submit it through the app or website.
- Closing a savings account does not close your checking account or other products, even if they are linked.
- If you have pending transactions or holds on the account, wait for them to clear before attempting to close.
Steps to close your account through the mobile app
Open the Bank of America mobile app and sign in. Tap the savings account you want to close, then look for the menu icon (three horizontal lines) in the top right corner. Select "Account Services" or "Manage Account," then scroll down to find "Close Account" or "Account Closure." The app will show you the current balance and ask you to confirm that it is zero before you can proceed.
If your balance is not zero, the app will stop you at this step. You must move that money first. Tap "Transfer Money" to send it to another Bank of America account, or go to an ATM to withdraw cash. Once the balance shows zero, return to the closure request and complete it. Bank of America will send you a confirmation email within one business day, and the account will be closed within five to seven business days.
Steps to close your account through the website
Log into your Bank of America account at bankofamerica.com. Click on the savings account you want to close. Look for "Account Services" or "Manage This Account" in the left menu or under a settings icon. Select "Close Account" from the options that appear.
The website will display your current balance and ask you to confirm it is zero. If it is not, use the "Transfer Funds" option to move money to another account, or withdraw it at an ATM or branch. Return to the closure page once the balance is zero, review the terms, and submit your request. You will receive a confirmation number and an email. The closure takes five to seven business days.
How to move money out of the account before closing
Before you can close the account, every dollar must be moved out. You have two main options: transfer the money to another Bank of America account (checking, savings, or money market), or withdraw it in cash.
To transfer online, select "Transfer Money" from the app or website, choose the savings account as the source, pick the destination account, and enter the amount. The transfer is instant and shows up in the other account right away. If you prefer cash, visit any Bank of America ATM and withdraw the full balance, or go to a branch and ask the teller to withdraw it for you. Once the balance is zero, you can proceed with the closure request.
What happens after you submit the closure request
Bank of America will send you a confirmation email with a reference number. Save this email. The account will remain open for five to seven business days while the bank processes the request. During this time, do not attempt to use the account or make any deposits. If you have automatic transfers or bill payments set up on this account, cancel them before you close it, or they may fail.
After the closure is complete, you will receive a final confirmation email. The account will no longer appear in your app or on the website. If you need a record of transactions from this account for tax or personal records, download or print your statements before the closure is final.
Reasons the closure might be delayed or rejected
Bank of America may not process your closure request if the account still has a balance, even a small one. Pending transactions, holds placed by the bank, or outstanding checks can also delay closure. If you wrote a check from this account that has not cleared yet, wait for it to post before closing.
If you have a negative balance (you owe the bank money), you must pay it first. The bank may also refuse to close the account if there is an active dispute or fraud investigation on it. In these cases, contact Bank of America customer service by phone at 1-800-432-1000 to find out what is blocking the closure and what you need to do next.
What does not happen when you close a savings account
Closing a savings account does not close your checking account, money market account, or any other Bank of America product you own. Each account is separate, even if they are linked for transfers. Your debit card, online banking access, and other services remain active. If you want to close those accounts too, you must request each closure separately.
The closure also does not affect your credit score or credit history. Savings accounts do not appear on your credit report, so closing one has no impact on your credit. If you have a Bank of America credit card, it stays open and active unless you close it separately.
Frequently Asked Questions
Can I close my savings account if it has a small balance, like $5?
No. Bank of America requires a zero balance before you can close the account online. You must withdraw or transfer that $5 first. It takes less than a minute to move it to another account or pull it from an ATM.
How long does it take to close the account after I submit the request?
Five to seven business days. You will get a confirmation email right away, but the account stays open during this period. Do not use it or deposit money into it while it is being closed.
What if I close my savings account but want to reopen it later?
You can open a new savings account with Bank of America at any time through the app or website. It will have a different account number. The old account cannot be reopened once it is closed.
Do I need to go to a branch to close my account, or can I do it entirely online?
You can do it entirely online through the app or website, as long as the balance is zero. You do not need to visit a branch or call customer service unless something goes wrong or the account has a problem that blocks closure.
Will closing my savings account affect my checking account or debit card?
No. Closing a savings account does not touch your checking account, debit card, or any other Bank of America product. They remain open and active unless you close them separately.