Call Bank of America or visit a branch to close your account
You can close a Bank of America savings account in three ways: by phone, in person at a branch, or online through your account settings. The fastest route is usually a phone call to the number on the back of your debit card or the customer service line at 1-800-432-1000. A representative will confirm your identity, check for any pending transactions, and process the closure. If you have a balance, they will either send you a check or transfer the money to another account you provide.
If you prefer to close the account in person, bring a valid ID to any Bank of America branch. The teller will verify your identity and walk you through the same steps. Online closure is available for some account types through your digital banking portal, though you may still need to call if there are complications or if your account has a negative balance.
The closure itself is immediate, but the final settlement of any remaining balance can take five to ten business days if Bank of America mails a check. If you arrange a transfer to another bank account during the call, the money typically arrives within one to three business days.
Key Takeaways
- Call 1-800-432-1000 or visit a branch with your ID to start the closure process, which takes about ten minutes.
- Bank of America will send any remaining balance as a check or transfer it to another account you specify during the call.
- Make sure all automatic deposits and bill payments linked to the account are moved or cancelled before you close it, or they will fail.
- If your account is overdrawn, you must pay the negative balance before the account can be closed.
- The account closes immediately, but receiving your final balance by check can take five to ten business days.
Stop all automatic transactions before closing
Before you call to close the account, review what is connected to it. Log into your Bank of America online account and check for automatic bill payments, recurring transfers, and direct deposits. Any paycheck, government benefit, or regular payment that goes into this savings account will bounce or fail once the account closes.
Update the account information for any automatic deposits at least one week before closure. This includes your employer's payroll system, Social Security, pension providers, or any other source that deposits money regularly. For bill payments, log into each biller's website or call them to change the account number or payment method.
If you miss an automatic payment because the account is closed, the biller will typically charge a late fee and may report the missed payment to credit bureaus. The burden falls on you to prevent this, not on the bank to warn you.
What happens to your debit card and checks
Your Bank of America debit card linked to the savings account will stop working once the account closes. If you have checks for this account, they will also become invalid. You do not need to do anything with the card or checks—they simply will not function after closure. If you want to destroy them for security reasons, you can cut them up or shred them.
If you have a separate checking account with Bank of America, your debit card for that account will continue to work normally. Only the card and checks tied to the closed savings account are affected.
Handle an overdrawn or negative balance
If your savings account has a negative balance—meaning you owe Bank of America money—you must pay that amount before the account can close. Bank of America will not close an account with an outstanding debt. You can pay the negative balance by transferring money from another account, using a debit card, or paying in person at a branch.
Once you pay the negative balance and it clears (usually one business day), the account balance will be zero and you can proceed with closure. If you close an account without paying a negative balance, Bank of America may send your debt to a collection agency or pursue legal action, depending on the amount and your history.
Confirm closure in writing if needed
Bank of America will provide a confirmation number when you close the account by phone or in person. Write down this number and the date of closure. If you close online, take a screenshot of the confirmation page. Keep this record for your files in case there are questions later about whether the account was actually closed.
You do not need to request a written confirmation letter, but if you want one for your records, you can call customer service and ask them to mail it to you. This can be useful if you are closing the account to resolve a dispute or if you need proof of closure for another financial institution.
What to do if you have a joint account
If the savings account is held jointly with another person, both account holders must agree to close it. Bank of America will not close a joint account on the request of one person alone. You and the other account holder can both call together, or one person can call with written authorization from the other. The authorization letter must be signed and notarized in most cases.
If you and the other account holder disagree about closing the account, you will need to resolve that separately—the bank will not intervene in disputes between joint owners. Some people in this situation choose to remove themselves as an authorized user instead, which leaves the account open for the other person.
Frequently Asked Questions
Can I reopen a Bank of America savings account after I close it?
Yes, you can open a new savings account with Bank of America at any time after closure. However, if you closed the account due to a dispute, overdraft, or fraud issue, Bank of America may review your history before approving a new account. There is no waiting period, but the bank may decline to open a new account if you have an unresolved negative balance or a history of fraud.
What if I close the account but forget to move a recurring payment?
The payment will fail and bounce back to the biller. You will likely be charged a late fee by the biller and may see a negative mark on your credit report if it is a loan or credit card payment. Contact the biller immediately to explain the situation and ask them to waive the late fee. Update your payment information with them right away to prevent future failures.
Do I need to close the account in person, or can I do it all by phone?
You can close the account entirely by phone. There is no requirement to visit a branch. A phone call to 1-800-432-1000 is usually the fastest option and takes about ten minutes. In-person closure is an option if you prefer to handle it face-to-face or if you have complications that require a teller's help.
How long does it take to receive my final balance after closing?
If Bank of America mails a check, it typically arrives within five to ten business days. If you arrange a transfer to another bank account during the closure call, the money usually arrives within one to three business days. Ask the representative which method is faster when you call, and provide your new account details if you want a direct transfer.
Will closing my savings account affect 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 you close the account while it has a negative balance and do not pay it, that debt could be reported to credit bureaus and harm your score. As long as you settle any balance owed, closure has no credit impact.