You can close a Bank of America savings account online, by phone, or in person at a branch
Bank of America lets you close a savings account through three routes: your online banking portal, a phone call to customer service, or a visit to a local branch. The fastest method is usually online if you have no outstanding holds or pending transactions. By phone, you'll reach a representative who can walk through the process and answer questions about your balance. In person, a banker can close the account when ready and handle any cash withdrawal on the spot.
Before you close, make sure your account balance is zero or that you've arranged to move or withdraw the money. Bank of America will not close an account with a positive balance. If your account is overdrawn (negative balance), you'll need to pay that amount first. Once closed, the account number cannot be reopened — if you want to bank with Bank of America again, you'll open a new account with a new number.
Key Takeaways
- Your savings account must have a zero or positive balance before Bank of America will close it; transfer or withdraw all funds first.
- Online closure through your Bank of America portal is the fastest option if you have no holds or pending transactions.
- Phone closure at 1-800-432-1000 works if online closure is not available, and a representative can confirm the account is fully closed.
- In-person closure at any Bank of America branch gives you when ready confirmation and lets you withdraw cash on the same day.
- After closure, the account number is permanently closed and cannot be reopened; you cannot reuse the same account.
Close your account online through Bank of America's portal
Log into your Bank of America online banking account using your username and password. Navigate to the account settings or account management section — this is usually found under a menu labeled "Settings," "Manage Accounts," or "Account Services." Look for an option that says "Close Account" or "Close Savings Account."
Bank of America's online system will show you your current balance and confirm that the account is may be able to access for online closure. If the balance is not zero, you will not be able to proceed; the system will tell you to transfer or withdraw the remaining funds first. Once the balance is confirmed at zero, follow the prompts to request closure. You should receive an on-screen confirmation and an email confirmation within a few minutes.
Online closure does not always work if your account has a pending direct deposit, an active hold, or recent transactions that have not fully cleared. If the system blocks your closure request, you will need to use the phone or in-person method instead.
Close your account by phone with Bank of America customer service
Call Bank of America at 1-800-432-1000. Have your account number and a form of identification ready — the representative may ask for your Social Security number or other personal details to verify your identity. Tell the representative you want to close your savings account.
The representative will confirm your current balance. If there is money in the account, they will ask how you want to handle it: transfer to another account (yours or someone else's), receive a check by mail, or arrange another method. If the account is overdrawn, they will tell you the amount owed and how to pay it before closure can proceed.
Once the balance is settled, the representative will process the closure request. Ask them to confirm the account is closed and to provide you with a reference number for your records. The closure usually takes effect within one to three business days, though the account is considered closed when ready after the call.
Close your account in person at a Bank of America branch
Visit any Bank of America branch during business hours. Bring a government-issued photo ID and your debit card or account number. Tell a banker you want to close your savings account.
The banker will pull up your account and show you the current balance. If there is money in the account, you can withdraw it in cash on the spot, transfer it to another account, or request a check. If the account is overdrawn, you will need to pay the negative balance before the account can close.
Once the balance is zero, the banker will complete the closure paperwork. You will receive a receipt or confirmation document showing the account is closed. This is the only method that gives you when ready, in-person proof of closure on the same day.
What happens to automatic payments and direct deposits after closure
Any automatic payments or direct deposits linked to your savings account will fail once the account is closed. If you have set up direct deposit of your paycheck to this account, you must change the deposit instructions with your employer before you close the account. If you do not, your paycheck will be rejected and returned to your employer, which can delay payment by several days.
Similarly, if you have automatic bill payments or transfers set up from this savings account, those will stop working. Review your account for any recurring transactions before you close. You can do this by logging into your online banking portal and checking the "Transfers" or "Bill Pay" section, or by asking a banker to review your account history.
If a payment fails after closure because the account no longer exists, the merchant or biller may charge you a fee for the failed transaction. It is your responsibility to update these payment methods before closure.
What to do if your account has a negative balance
If your savings account is overdrawn (showing a negative balance), Bank of America will not close it until you pay the amount owed. The amount you owe includes the negative balance plus any overdraft fees that have been charged.
You can pay the negative balance by transferring money from another Bank of America account, making a payment online through your portal, or visiting a branch and paying in cash or by debit card. Once the balance reaches zero, you can proceed with closure using any of the three methods above.
If you are unsure of the exact amount owed, call 1-800-432-1000 and a representative will tell you the current balance and any fees. They can also explain whether any fees can be waived or reduced.
After your account is closed: what you need to know
Once your Bank of America savings account is closed, you will no longer be able to access it online or use the debit card associated with it (if one was issued). The account number is permanently retired and cannot be reused. If you want to open a new savings account with Bank of America in the future, you will receive a completely new account number.
Bank of America will keep records of the closed account for your file. If you need a statement or documentation of transactions from the closed account, you can request this by calling 1-800-432-1000 or visiting a branch. There is typically no charge for historical statements.
If you closed the account because you are leaving Bank of America entirely, make sure you have transferred any funds you want to keep to another bank. If you had automatic deposits or payments set up, confirm that you have updated those instructions with your employer, biller, or other financial institution.
Frequently Asked Questions
Can I close my Bank of America savings account if I have a negative balance?
No. You must pay the negative balance and any overdraft fees before the account can close. Call 1-800-432-1000 to find out the exact amount owed, then pay it by transfer from another account, online payment, or in person at a branch.
How long does it take for Bank of America to close my savings account?
Online and phone closures usually take effect within one to three business days, though the account is considered closed when ready after you complete the request. In-person closure at a branch is when ready — you receive a receipt the same day.
What if I have a pending direct deposit or check deposit when I try to close?
Bank of America will not allow online closure if there are pending transactions. Wait for the deposit to clear, then try closing again online. If it still does not work, use the phone or in-person method and ask the representative to process the closure manually.
Can I reopen the same savings account after I close it?
No. Once closed, the account number is permanently retired. If you want to bank with Bank of America again, you will open a new account with a new account number. The old account cannot be reopened.
Do I need to close my checking account too, or can I close just the savings account?
You can close just the savings account and keep your checking account open, or vice versa. Each account is separate and can be closed independently. You do not have to close both at the same time.