You can close a Bank of America savings account in person, by phone, or online, depending on your account type and what you need to do with the money inside

The fastest way is usually a phone call to Bank of America's customer service at 1-800-432-1000. You'll need your account number and Social Security number to verify your identity. They can walk you through closing the account right then, answer questions about where your remaining balance will go, and confirm the account is closed before you hang up.

If you prefer to do it in person, visit any Bank of America branch with your ID and ask to close your savings account. A banker will help you decide what to do with any money in the account — they can transfer it to another account you own, issue a check, or process a wire transfer. This method works well if you have questions or want to move money to a different bank at the same time.

Online closure is available for some account types through your Bank of America login, though not all savings accounts can be closed this way. Check your account settings or contact customer service to see if your specific account supports it.

Key Takeaways

  • Call 1-800-432-1000 to close your account by phone — you'll need your account number and Social Security number.
  • Visit a Bank of America branch in person if you want to move money to another bank or need help deciding what to do with your balance.
  • Make sure your account balance is zero or decide where the remaining money should go before you close — the bank won't hold it after closure.
  • Some accounts have early closure fees if you close within a certain period; ask about this before you proceed.
  • After closure, keep your final statement for your records in case you need proof the account was closed.

What happens to money still in the account

Before you close, decide what to do with any balance remaining in the account. Bank of America will not keep the money after the account closes. You have three main options: transfer it to another Bank of America account you own, receive a check mailed to your address, or have it sent by wire transfer to another bank.

If you choose a check, it typically arrives within 7 to 10 business days. Wire transfers are faster — usually one to two business days — but some banks charge a fee to receive a wire on their end. Transfers between your own Bank of America accounts happen when ready.

If you have pending transactions or automatic payments set to that account, they may fail after closure. Check for any recurring transfers, direct deposits, or bill payments linked to the account and change them before you close.

Closing the account by phone

Call 1-800-432-1000 and tell the representative you want to close your savings account. Have your account number ready — it's on your debit card, statements, or online banking login. You'll also need to provide your Social Security number so they can verify you're the account owner.

The representative will ask what you want to do with your balance. Tell them whether you want it transferred to another account, sent as a check, or wired elsewhere. They'll confirm the account details where the money should go, process the closure, and give you a confirmation number. Write this down or ask them to email it to you.

The whole call usually takes 10 to 15 minutes. After you hang up, the account is closed and no new transactions can be made on it.

Closing the account in person at a branch

Bring a valid ID — a driver's license, passport, or state ID card — to any Bank of America branch. Tell the banker you want to close your savings account and ask about any fees that might explore. Some savings accounts have a minimum balance requirement or charge a fee if you close within a certain number of months of opening.

The banker will pull up your account and show you the current balance. Decide together where the money should go. If you're moving it to another bank, have that bank's routing number and your account number ready. The banker can process the transfer right there, or you can ask for a check or wire transfer instead.

You'll sign paperwork confirming the closure. Ask for a copy for your records. The account closes when ready, though it may take a few days for the money to arrive at its destination depending on the method you chose.

Early closure fees and account requirements

Some Bank of America savings accounts charge a fee if you close them within a set period — often 90 days to one year after opening. This fee is usually between $25 and $100, depending on the account type. Ask the representative or banker whether your account has this fee before you close.

If there is a fee, the bank will deduct it from your balance before sending you the remaining money. For example, if you have $500 in the account and there's a $25 closure fee, you'll receive $475.

Some savings accounts also require a minimum balance to avoid monthly fees. If your balance is below that minimum when you close, you may have already paid a fee in recent months. Closing the account stops future fees from being charged.

What to do if you can't visit a branch or use the phone

If you're unable to call or visit in person, check your Bank of America online banking account to see if you can close the account through the website or mobile app. Not all account types support online closure, but many do. Log in, go to your account settings, and look for a "Close Account" or "Manage Account" option.

If online closure isn't available for your account, you can also send a written request to Bank of America. Include your account number, full name, and signature, and mail it to the address on your statement. Include a note saying you want to close the account and what you want done with the balance. This method is slower — it can take two to three weeks — so use it only if other options aren't possible.

If you've moved and no longer have your statement, call customer service to ask for the mailing address for account closures in your region.

After your account is closed

Once the account is closed, you won't be able to make deposits or withdrawals. If you had a debit card linked to this account, it will stop working. Any checks you wrote against the account will bounce if they haven't cleared yet, so make sure you've stopped using the account before closure.

Keep your final statement and the closure confirmation number for your records. If a company tries to charge the account after it's closed, or if you need proof the account was closed for tax or legal reasons, you'll have documentation.

If you closed the account by mistake or change your mind within a short time, contact Bank of America when ready. They may be able to reopen it, though this depends on how long it's been and the reason for closure.

Frequently Asked Questions

Will closing my savings account affect my credit score?

No. Closing a savings account does not affect your credit score because savings accounts don't appear on your credit report. Only credit accounts like credit cards, loans, and lines of credit show up there. You can close a savings account without any impact on your credit.

What if I have a pending direct deposit scheduled for the day I close?

The deposit will fail and bounce back to whoever sent it. Before you close, change any direct deposits — like paychecks or government benefits — to a different account. You can do this through your employer or the organization sending the money. Allow a few days for the change to take effect before closing the account.

Can I reopen the account after I close it?

Bank of America may allow you to reopen a recently closed account, but it depends on how long ago it closed and why. Call customer service right away if you change your mind. If too much time has passed, you'll need to open a new account instead.

Do I need to close my checking account too, or just the savings account?

You can close just the savings account and keep your checking account open, or close both. They're separate accounts and closing one doesn't affect the other. Tell the representative or banker which account you want to close.

What if there's a negative balance or I owe money on the account?

You cannot close an account with a negative balance. You'll need to deposit money to bring it to zero first. If you're unsure of your balance, call customer service or check online banking before you attempt to close.