May 15, 2022

How to Close a Bank of America Account

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Want to close your Bank of America account? Learn how and what you need to do before you close your account.

Luckily, it's simple and free to close an account with Bank of America. You have three different ways to do it - read on to find out more.

Can You Close a Bank of America Savings or Checking Account?

Yes, you can close your Bank of America checking or savings account. There are three ways to close an account:

  • By visiting a branch in-person
  • By phone
  • By mailing a letter

Unfortunately, Bank of America does not let you close an account online. It may be a bit more hassle to have to call or visit a branch, but it's still pretty straightforward.

Read on to learn the details.

1. Over the Phone

You can call these Bank of America phone numbers to close your account:

  • 800-432-1000 (Closing a checking or savings account)
  • 800-732-9194 (Closing a credit card account)
  • 888-827-1812 (Closing an IRA or CD account)

You will have to speak with an agent who will assist you with closing your account.

Bank of America reps are available:
  • Monday to Friday: 8 am - 9 pm ET
  • Saturday: 8 am - 8 pm ET
  • Sunday: 8 am - 5 pm ET

2. Visit Your Local Branch

If you live near a Bank of America branch, you may find it easier to just pop in and talk to a rep in-person.

Find your closest Branch of America location with their branch locator. Then, go to the bank and sit down with a specialist. They'll walk you through the forms and take care of the closing for you.

Check the branch hours first to make sure you don't stop by when they're closed.

3. Send Them a Letter

This is the slowest way to close a Bank of America account. But, if you prefer this way, all you need to do is send them a letter with an account closing request (here is a template).

If you still have a balance left in your account, be sure to state in the letter where you want the money sent.

If it's a joint account, all owners need to sign the letter.

Send your letter to:

  • Bank of America, FL1-300-01-29, PO Box 25118, Tampa, FL 33622-5118 (Closing a checking or savings account)
  • Bank of America, PO Box 982234, El Paso, TX 79998-2234 (Closing a credit card account)

5 Things to do Before Closing a Bank of America Account

Before you request to close an account, make sure you have some things taken care of. The process will go smoother and you won't run into mishaps or gaps with receiving paychecks or paying bills.

There are five things you'll want to do before closing your Bank of America account.

1. Make Sure Your Account Isn't Overdrawn

Your account needs to be in good standing in order to close it. If you haven't used your account in a while and it's overdrawn, you cannot close it.

If that's the case, you must deposit funds to bring the balance to zero. Only after that can you request to close your account.

If you haven't used your account in years, you'll want to confirm that it's not abandoned. Usually, when an account is inactive for years, the state will take possession of the funds.

2. Set Up a New Account

You'll want to open a new bank account with a different bank before closing your Bank of America account.

Once your new account is up and running, you can link it to your Bank of America account to transfer money.

Here's a list of our favorite free checking accounts.

3. Update Direct Deposits

If you were getting paycheck direct deposits into your Bank of America account, you'll want to reroute them to your new account.

Get in touch with your work's HR or payroll department. You'll most likely need to fill out a new direct deposit form with your new account information.

4. Cancel Auto-Payments

If you have auto-payments set up with your Bank of America account, you'll want to remove them and switch them to your new bank.

These may include:

  • Mortage or rent
  • Utilities
  • Credit cards
  • Insurance payments
  • Car loans or student loans
  • Recurring subscription services

If you forget something, it can result in a failed payment when they try to bill your (closed) Bank of America account later. That can incur penalties and even damage your credit.

Pro tip: Download all the monthly bank statements while your Bank of America account is still active. Go over them to find all your recurring charges so you don't forget something.

You may also find yourself in a situation where the statements will come in handy. Plus, it's more difficult to get statements for a closed account.

5. Transfer Remaining Funds

After everything is switched over, it's time to transfer your remaining Bank of America balance to your new bank account.

BUT, only do this after all your pending payments have processed. If your bills post at different times, you may have to wait up to a month. Make sure the recurring payments have started to post to your new account.

You don't want to zero-out your Bank of America account and then overdraw it when a payment comes through.

Transferring funds can be done easily online. Just link your two accounts, and transfer the funds electronically. It'll take a few days for the funds to settle into your new account.


  • Can I close a Bank of America account online?
    No, you can't close a Bank of America account online. You can only close your account by phone, letter, or in person.

  • How long does it take to close a Bank of America account?
    Once you initiate the closing request, your Bank of America account can be closed right away.

    However, before that, it could take you some time to cancel subscriptions, complete all pending payments, and transfer funds. It's extremely important that these are taken care of because closing the actual account is quick.

    Visiting a branch or doing it over the phone are the quickest ways to close your account. Sending a letter is slowest option.

  • How much does it cost to close a Bank of America account?
    It is free to close your Bank of America account.

  • Can I close my Bank of America account and keep my credit card?
    Yes, you can keep your credit card if you close your Bank of America bank account. They are separate accounts and don't affect each other.

  • Can I close my Bank of America account with a negative balance?
    No, you can't close your Bank of America account with a negative balance. You must bring it to zero in order to close the account.

Bottom Line

Closing your Bank of America bank account is pretty straightforward (as long as your account is in good standing). But it's important to take steps to set up a new account and get your payments transferred over. This avoids problems later on if a vendor tries to bill your closed account.

Take your time and make sure all your affairs are settled first. That will make for the most seamless transition to a new bank account.

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