You can close a Bank of America savings account online, by phone, or in person, and the process takes a few minutes
Bank of America lets you close a savings account through three channels: their website, a phone call to customer service, or a visit to a branch. The fastest route is usually online if you have active login credentials. You will need to move any remaining balance out first — the bank will not close an account with a positive balance. Once closed, the account number becomes inactive and cannot be reopened under the same number.
The entire process typically takes less than 10 minutes, though it can take a few business days for the closure to fully process on the bank's end. If you have pending transactions or automatic payments linked to the account, those should be redirected before you initiate closure.
Key Takeaways
- You must withdraw or transfer your full balance before closing; Bank of America will not close an account with money in it.
- Online closure through your Bank of America login is the quickest method if you have internet access and an active account.
- Phone closure requires calling Bank of America customer service at the number on your debit card or statement; have your account number ready.
- In-branch closure guarantees when ready confirmation but requires a trip to a physical location during business hours.
- After closure, any automatic payments or direct deposits tied to that account number will fail, so update those services first.
How to close your account online
Log into your Bank of America online banking portal using your username and password. Navigate to the account settings or account management section — this is usually found under a menu labeled "Settings," "Profile," or "Manage Accounts." Look for an option that says "Close Account" or "Account Services."
Select your savings account from the list of accounts. Bank of America will show you the current balance and confirm that it is zero before allowing you to proceed. If there is money in the account, you will be prompted to transfer it to another Bank of America account or withdraw it first. Once the balance is confirmed as zero, click through the confirmation screens and the account will be marked for closure.
You will receive an on-screen confirmation message and typically an email confirmation within a few minutes. The account will stop accepting transactions when ready, though it may take one to three business days for the closure to appear in your account history.
How to close your account by phone
Call the customer service number on the back of your Bank of America debit card or on your most recent statement. Have your account number and a form of identification ready — the representative may ask for your Social Security number or date of birth to verify your identity.
Tell the representative you want to close your savings account. They will confirm your current balance and, if it is not zero, will walk you through transferring or withdrawing the funds. Once the balance is cleared, they will process the closure and provide you with a confirmation number. Write down this number for your records.
The representative will also ask whether you have any automatic payments, direct deposits, or other services tied to that account number. If you do, they may recommend updating those before closure to prevent failed transactions. The account will close when ready on the phone, though the final processing may take a few business days.
How to close your account in person at a branch
Visit any Bank of America branch during business hours with a valid government-issued ID. Tell a teller or banker that you want to close your savings account. They will pull up your account, confirm the balance, and process the closure on the spot.
If you have money in the account, the teller can transfer it to another account you hold at Bank of America, issue you a cashier's check, or process a withdrawal. Once the balance is zero, they will complete the closure and give you a receipt with a confirmation number. This method gives you when ready proof of closure and a chance to ask questions face-to-face.
What to do before you close
Check whether you have set up any automatic payments, recurring transfers, or direct deposits using this account number. Common examples include payroll direct deposit, bill payments, subscription services, or transfers to savings goals. Each of these will fail once the account closes, potentially triggering late fees or service interruptions.
Update each service with a new account number or payment method at least a few days before you close. For payroll, contact your employer's HR or payroll department. For bills and subscriptions, log into each service's website or app and change the payment method. For transfers, update them in your Bank of America account settings or through the receiving institution.
Withdraw or transfer your full balance to another account. You can move money to another Bank of America account when ready through online banking, or to an account at a different bank using an external transfer (which typically takes one to three business days). If you want cash, visit a branch or ATM and withdraw the full amount.
What happens after you close
Your account number becomes inactive and cannot be used for new transactions. Any checks written against the account will bounce. Direct deposits and automatic payments will fail and may trigger notifications from your employer or creditors.
Bank of America will continue to mail you statements for a few months showing the closure, then stop. If you need a record of transactions from the closed account, you can request a statement copy from the bank — keep your confirmation number handy, as it will help them locate your records.
If you later decide you want a savings account with Bank of America, you can open a new one, but it will have a different account number. The old account cannot be reopened.
Reasons you might want to close
Common reasons include switching to a different bank with better rates or lower fees, consolidating multiple accounts, or straightforward no longer needing the account. If you are closing because of fees or service issues, consider whether a different Bank of America account type (such as a different savings product or checking account) might better fit your needs before you leave entirely.
If you are moving to a different bank, make sure that bank's account is fully set up and working before you close your Bank of America account. This prevents the risk of being without a place to deposit paychecks or pay bills during the transition.
Frequently Asked Questions
Can I close my account if I have a negative balance?
No. You must bring the account to zero or positive before closing. If your account is overdrawn, deposit money to cover the negative balance first. Once it reaches zero, you can proceed with closure.
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 have pending transactions when I try to close?
Bank of America will not close an account with pending transactions. Wait for pending deposits or withdrawals to clear, then confirm the balance is zero before attempting closure again. This usually takes one to two business days.
Can I reopen the same account after closing it?
No. Once closed, that specific account number cannot be reopened. If you want a Bank of America savings account again, you will need to open a new one with a new account number.
How long does it take for the closure to show up in my records?
The account closes when ready when you process it online, by phone, or in person, but it may take one to three business days to fully disappear from your account list and statements. You will receive a confirmation right away.