How to close a Bank of America savings account

You can close a Bank of America savings account in person at a branch, by phone, or online through your account settings. The fastest method is visiting a branch with your ID — a teller can process the closure and handle your remaining balance on the spot. If you close by phone, call the number on the back of your debit card or 1-800-432-1000 and speak to a representative. Online closure is available through your Bank of America profile if your account has a zero balance and no pending transactions.

Before you close, move any money you want to keep to another account. Bank of America will return your remaining balance by check, transfer to another bank account you provide, or deposit to a linked account. The process typically completes within one business day if you're in a branch, or three to five business days if you close by phone or online. There is no fee to close a savings account.

Key Takeaways

  • Visit a Bank of America branch with your ID to close your account immediately, or call 1-800-432-1000 to close by phone.
  • Move your money to another account before closing, or tell the bank where to send your remaining balance.
  • Online closure through your account settings works only if your balance is zero and no transactions are pending.
  • Your remaining balance will be returned by check, bank transfer, or deposit to a linked account within one to five business days.
  • Bank of America charges no fee to close a savings account.

What happens to your money when you close

Your remaining balance does not disappear — Bank of America must return it to you. When you close at a branch, ask the teller how you want the money handled. You can request a check mailed to your address, a transfer to another bank account (you'll need to provide the routing and account numbers), or a deposit to another Bank of America account you own.

If you close by phone or online without specifying where the money goes, the bank will mail a check to the address on file. This takes five to seven business days after the account closes. If you've moved or the address is wrong, update it before you close, or call the bank after closure to redirect the check.

Closing in person at a branch

Bring your government-issued ID and your debit card or account number. Walk into any Bank of America branch during business hours and tell a teller you want to close your savings account. They will pull up your account, confirm your identity, and ask where you want your balance sent. If your account has a zero balance already, the closure takes minutes. If there is money in the account, the teller will process the transfer or check request immediately.

Ask for written confirmation of the closure. The teller will give you a receipt showing the account number, closure date, and where your balance is going. Keep this receipt until you confirm the money arrived in your other account or the check clears.

Closing by phone

Call 1-800-432-1000 and select the option to speak to a representative. Have your account number and ID ready. Tell them you want to close your savings account. They will verify your identity by asking security questions, then ask where you want your remaining balance sent. Provide the routing and account number if you're transferring to another bank, or confirm your mailing address if you want a check.

The representative will give you a confirmation number. Write it down and ask them to email or mail written confirmation to you. The account will close within one business day, and your balance will be sent according to your instructions within three to five business days.

Closing online through your Bank of America account

Log into your Bank of America profile on the website or mobile app. Go to your account settings and look for the option to close an account — this is usually under "Account Services" or "Manage Accounts." Bank of America only allows online closure if your savings account balance is exactly zero and you have no pending deposits or withdrawals. If your balance is not zero, you must transfer the money out first or close by phone or in person.

If you meet these conditions, follow the prompts to confirm closure. You will receive a confirmation number on screen and by email. The account will close within one business day.

What to do before closing

Check whether any automatic payments or transfers are linked to this savings account. If you have set up automatic transfers from this account to pay bills or move money elsewhere, those will fail once the account closes. Log into your account and review all scheduled transactions. Cancel or redirect any that depend on this savings account.

Make sure you have moved all the money you want to keep. Once the account closes, you cannot reopen it — you would have to open a new account. If you think you might need this account later, consider leaving it open but inactive instead of closing it.

What to do if you have 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 enough money to bring the account to zero, then proceed with closure. If you try to close with a negative balance, the bank will refuse and ask you to pay first.

If you have an overdraft fee or penalty on the account, that amount is part of what you owe. Pay the full negative balance before attempting to close.

Frequently Asked Questions

Can I reopen a Bank of America savings account after I close it?

You cannot reopen the same account once it is closed. You would have to open a new savings account, which will have a new account number. If you think you might need the account later, consider leaving it open but unused instead of closing it.

How long does it take to get my money after I close?

If you close in person at a branch and request a transfer to another bank account, the money typically arrives within one to three business days. If you request a check, it will be mailed and take five to seven business days to arrive. If you transfer to another Bank of America account, the money moves the same day.

Will closing my savings account hurt my credit?

Closing a savings account does not affect your credit score. Savings accounts are not reported to credit bureaus. Only credit products like credit cards and loans appear on your credit report.

What if I have a pending deposit when I try to close?

Wait for the deposit to clear before closing. If you try to close online and a deposit is pending, the system will not allow closure. If you close by phone or in person, tell the representative about the pending deposit and ask them to wait or process it first.

Do I need to close my account in the same state where I opened it?

No. You can close your account at any Bank of America branch, by phone, or online, regardless of where you opened it. The account is managed through Bank of America's national system, not by individual branches.