Call Bank of America or visit a branch to close your account
The fastest way to close a Bank of America savings account is to call their customer service line at 1-800-432-1000. Have your account number ready. A representative will walk you through the closure, answer questions about what happens to any remaining balance, and confirm the account is closed. The call usually takes 5 to 10 minutes.
If you prefer to close the account in person, visit any Bank of America branch with a valid ID. A banker can process the closure on the spot and handle your remaining balance right then — either transferring it to another account or issuing a check. This route works well if you have questions or want to make sure everything is handled correctly before you leave.
You can also mail a written request to close the account, though this takes longer. Write a letter stating your account number, your name, and that you want the account closed. Mail it to the address on your statement or ask a banker for the correct mailing address for your region. Bank of America will confirm closure by mail, which can take one to two weeks.
Key Takeaways
- Calling 1-800-432-1000 is the quickest method and takes about 5 to 10 minutes with a representative.
- Visit a branch in person if you want to handle your remaining balance immediately or have questions about the closure process.
- Any money left in the account will be transferred to another account you name or sent to you by check — confirm which option before you hang up or leave the branch.
- Bank of America does not charge a fee to close a savings account, and the closure is permanent once confirmed.
What happens to money still in the account
Before you close the account, decide what to do with any remaining balance. Bank of America will not close the account if there is money in it without your instruction on where it goes. You have two main options: transfer the balance to another Bank of America account you own, or have it sent to you by check.
If you transfer to another account, the money moves within one business day. This is the fastest option if you have a checking account or another savings account at Bank of America. Simply tell the representative the account number where you want the money to go.
If you request a check, Bank of America will mail it to the address on file. The check arrives within 7 to 10 business days. Make sure your mailing address is current before you request closure, or the check may go to an old address and take longer to reach you.
Close any linked accounts or services first
If you have set up automatic transfers, bill pay, or other services tied to this savings account, those will stop working once the account closes. Review your account for any recurring transfers or payments that depend on this savings account being open.
If you have a linked checking account that you plan to keep, make sure you update any automatic transfers or bill pay that currently pull from this savings account. Move those to your checking account or another savings account before you close. Bank of America will warn you during the closure process if there are active transfers, but it is your responsibility to redirect them.
If you have a Bank of America debit card tied to this savings account, that card will no longer work once the account closes. If you want to keep using the card, you will need to move it to another account or request a new card for a different account before closure.
Confirm the account is fully closed
After you close the account, Bank of America will send a confirmation letter to your mailing address. This letter confirms the closure date and shows the final balance paid out. Keep this letter for your records — it proves the account is closed if there are ever questions later.
If you closed the account by phone or mail, check your Bank of America online account or call customer service a few days later to confirm the account no longer appears in your account list. If it still shows up, call back to make sure the closure went through. Occasionally a request gets delayed, and following up prevents confusion.
What to do if you change your mind
If you close the account and then realize you want it back, you have a short window to reopen it. Contact Bank of America within 30 days of closure and ask to reopen the account. They can usually restore it quickly if you call right away. After 30 days, reopening becomes much harder and may require opening a brand-new account instead.
If the account was closed due to inactivity or a policy violation rather than your request, the rules for reopening may be different. Call customer service to ask whether the account can be restored and what steps are needed.
Reasons you might want to close a savings account
People close savings accounts for many reasons: moving to a bank with better interest rates, consolidating accounts to simplify finances, or switching banks entirely. If you are closing because the interest rate is too low, compare rates at other banks before you close — some online banks offer much higher rates on savings accounts, and switching takes only a few days.
If you are closing because of fees, review the account terms first. Bank of America savings accounts have no monthly maintenance fee, but some accounts require a minimum balance. If you fell below the minimum, you may have been charged a fee. Closing is one option, but so is moving money in to meet the minimum if you plan to keep the account.
Frequently Asked Questions
Will Bank of America charge me to close the account?
No. Bank of America does not charge a fee to close a savings account. The only cost is whatever you spend to move your money elsewhere if you choose to do so.
Can I close the account online?
Bank of America does not offer account closure through their website or mobile app. You must call, visit a branch, or mail a written request. Calling is the fastest option.
What if I have a negative balance?
If the account is overdrawn, you must pay the negative balance before Bank of America will close it. You can transfer money in from another account or deposit cash at a branch to cover it, then proceed with closure.
How long does it take for the account to close after I request it?
If you close by phone or in person, the account closes immediately. If you mail a written request, closure takes 5 to 10 business days. You will receive a confirmation letter once it is complete.
Can I reopen the account after I close it?
Yes, but only within 30 days of closure. Call Bank of America and ask to reopen the account. After 30 days, you will need to open a new account instead.