You can close a Bank of America savings account by visiting a branch in person, calling their customer service line, or using their online banking platform — the fastest method depends on whether you have outstanding issues like negative balances or fraud holds.
Bank of America does not charge a fee to close a savings account, and you can initiate the process through any of three channels. The account closes once your balance reaches zero and all pending transactions clear. If you have a negative balance, you must pay it before closure. If there are fraud holds or disputes on the account, closure may be delayed until those are resolved.
The timeline varies: closing in person at a branch typically takes minutes, while phone and online closures can take one to three business days to process. You will need your account number and a form of identification if closing in person. If you are closing because of a problem with the account — unauthorized charges, repeated overdrafts, or poor service — document the issue before you close, because closing the account does not erase your dispute rights.
Key Takeaways
- You can close your account in person at any Bank of America branch, by phone at 1-800-432-1000, or through the mobile app or online banking portal.
- Your account must have a zero balance before it closes; if you owe money, you must pay it first, and if you have a credit balance, Bank of America will send it to you by check or transfer it to another account.
- Closing an account does not cancel automatic payments or transfers linked to it, so you must update those separately to avoid overdrafts or missed payments.
- If you are closing because of fraud or a dispute, file your claim before closing the account, because some protections become harder to enforce once the account is closed.
Closing in Person at a Branch
Walking into a Bank of America branch and asking to close your savings account is the fastest method if you have no outstanding balance issues. Bring your ID and your account number (or the card linked to the account). A teller will verify your identity, confirm your balance, and process the closure on the spot. If your balance is positive, the teller will ask how you want the funds — transferred to another account at Bank of America, sent to an external account, or mailed as a check. If your balance is zero or negative, the teller will note that and close the account when ready.
The account officially closes within one business day. Any pending transactions that were in flight when you closed may still post and overdraft the account after closure; Bank of America will then send you a notice about the overdraft and may charge an overdraft fee. To avoid this, wait until all your pending transactions have cleared before you close. You can check pending transactions in your online banking portal or ask the teller to review them with you before you proceed.
Closing by Phone
Call Bank of America's customer service line at 1-800-432-1000 and ask to speak with someone about closing your savings account. Have your account number and the phone number or address on file ready. The representative will verify your identity by asking security questions, confirm your current balance, and ask how you want any remaining funds handled. If you have a positive balance under $100, they may offer to mail you a check. Larger balances can be transferred to another Bank of America account or to an external bank account if you provide the routing and account numbers.
Phone closure takes one to three business days to complete. The representative will give you a confirmation number; write it down. If your account has a negative balance, the representative will tell you the amount owed and may ask you to pay it when ready over the phone using a debit card or bank account. If you do not pay, the account will not close until the balance is settled. After you hang up, log into your online banking to confirm the closure request was submitted.
Closing Through Online Banking or Mobile App
Bank of America's online platform and mobile app both allow you to request account closure without calling or visiting a branch. Log in, navigate to your savings account, and look for a "Close Account" or "Account Services" option. The exact menu path varies depending on whether you use the website or app, but it is usually under account settings or account management. You will be asked to confirm your identity and review your current balance.
If your balance is positive, you will choose how to receive the funds — transfer to another Bank of America account, transfer to an external account (you will need to provide routing and account numbers), or request a check by mail. If your balance is zero, the closure request processes when ready. If your balance is negative, you cannot close online; you must call or visit a branch to pay the balance first. After you submit the request, you will receive a confirmation email. The account closes within one to three business days.
What Happens to Automatic Payments and Transfers
Closing your savings account does not automatically cancel standing orders, bill payments, or recurring transfers linked to that account. If you have automatic deposits going into the account (like direct deposit from your employer), they will fail once the account closes, and your employer may charge a fee for the failed deposit. If you have automatic payments or transfers going out of the account, they will also fail, which may trigger late fees from the creditor or service provider.
Before you close, log into your online banking and review the "Transfers" and "Bill Pay" sections to see what is linked to the account. Cancel or redirect any automatic activity at least one week before you close. If you have direct deposit, contact your employer's payroll department and provide your new account number. If you have bill payments set up, update those payees with your new account information or cancel them and set them up elsewhere. This step takes 10 to 15 minutes but prevents overdrafts and missed payments after closure.
Handling a Negative Balance Before Closure
If your account is overdrawn, Bank of America will not close it until you pay the negative balance. The amount owed includes the overdraft itself plus any overdraft fees Bank of America charged. You can pay this balance in person at a branch using cash, debit card, or check; by phone using a debit card or external bank account; or by transferring money from another Bank of America account if you have one.
Once you pay, the account balance will be zero, and you can proceed with closure through any of the three methods above. If you dispute the overdraft or the fees (for example, if you believe the overdraft was caused by a bank error), contact Bank of America's dispute department before you pay. Paying the balance does not waive your right to dispute, but it does allow the account to close. Keep your receipt or confirmation number showing the payment was made.
If Your Account Has a Fraud Hold or Dispute
If Bank of America has placed a hold on your account due to suspected fraud, or if you have filed a dispute about unauthorized charges, the account may not close until the investigation is complete. Bank of America's fraud investigation typically takes 10 business days, though complex cases can take longer. During this time, you cannot withdraw funds, and the account cannot be closed.
If you want to close the account while a dispute is pending, contact Bank of America's dispute resolution department directly. They can tell you whether closure is possible before the investigation concludes. In some cases, they will allow you to close and transfer the remaining balance to another account while the dispute continues. In other cases, they will require the dispute to be resolved first. Do not close the account if you believe you have a valid claim for unauthorized charges — closing may complicate your ability to recover the funds later.
What Happens After Your Account Closes
Once your account is closed, you cannot use the debit card or checks linked to it. Any transactions you attempt will be declined. Bank of America will send you a final statement showing the closure date and your final balance. If you had a positive balance that was mailed as a check, it will arrive within 7 to 10 business days. If the check is lost or never arrives, contact Bank of America with your confirmation number and they can issue a replacement or transfer the funds to another account.
Your account history remains in Bank of America's system for seven years. If you need a copy of old statements or transaction records after closure, you can request them through online banking or by calling customer service. Closing the account does not affect your credit report or credit score. If you had a negative balance or overdraft fees, those may be reported to ChexSystems (a banking history database), which can affect your ability to open accounts at other banks for up to five years.
Frequently Asked Questions
Can I reopen a Bank of America savings account after I close it?
Yes, you can open a new savings account at any time. However, if your account was closed due to a negative balance or overdraft that was reported to ChexSystems, some banks may deny you based on that history. Bank of America itself will usually allow you to reopen, but you may be required to pay any outstanding balance from the old account first.
What if I have a check that has not cleared yet when I close my account?
Checks that have not cleared before closure may still post after the account closes and overdraft it. Bank of America will charge an overdraft fee and send you a notice. To avoid this, wait at least five to seven business days after writing a check before you close the account, or contact the check recipient and ask them to hold it until you provide a new account number.
Do I lose my transaction history if I close my account?
No. Bank of America keeps your transaction records for seven years after closure. You can request statements or transaction history by logging into online banking or calling customer service. You will not be able to see transactions in real time after closure, but you can still retrieve them for tax, dispute, or record-keeping purposes.
Will closing my savings account affect my checking account?
Closing a savings account does not affect any other accounts you have at Bank of America. Your checking account, credit cards, and any other products remain open and active. However, if you have transfers set up between your savings and checking accounts, those will fail once the savings account closes.
What if Bank of America owes me money after I close?
If you had a positive balance when you closed, Bank of America will send it to you by check, transfer it to another account, or hold it in a dormant account depending on what you requested. If the check is lost or the transfer fails, contact Bank of America with your account number and closure confirmation number, and they will reissue the payment or investigate the transfer.