How to close a Bank of America account
Closing a Bank of America account is straightforward if you follow the bank’s required steps and prepare the right documentation. You can close most accounts in person at a branch, by phone, or through online banking, depending on the account type and your location. This guide explains what you’ll need, potential fees, how long it takes, and how to avoid common issues. Use this as your definitive reference whether you’re closing a checking account, savings account, or a joint account tied to personal or business finances.
Gather required information and documents
Before you start, collect the following to streamline the process and avoid delays:
- Account number(s) for every account you want to close
- Government-issued photo ID, such as a driver’s license or passport
- Secondary ID, for example a Social Security card or birth certificate, if required
- Recent statements to verify balances and pending transactions
- Access to your online account or mobile app login for verification
Some account types, such as certificates of deposit (CDs) or restricted savings products, may have early withdrawal penalties or additional steps. If you are closing a business account, bring formation documents and any authorized signer information the bank requires.
Check for fees and minimum balance requirements
Bank of America may charge a closure fee or continue charging monthly maintenance fees until the account is closed, especially if balances fall below requirements. Fees and policies vary by product and location, so confirm current terms with the bank before proceeding. Use this summary as a reference, but verify details with Bank of America directly or in writing:
| Account/product | Possible closure or exit fees | Notes |
|---|---|---|
| Checking (regular) | May apply closure or pro‑rated fees if conditions aren’t met | Often tied to minimum balance or direct deposit requirements |
| Savings or money market | Typically no closure fee, but fees may apply if balance rules are not met | Watch for monthly maintenance fees |
| Certificate of Deposit (CD) | Early withdrawal penalties may apply; not a direct closure fee | Pricing and penalties vary by CD terms |
| Business accounts | Possible closure or cancellation fees; varies by product | Documentation and authorized signer rules are stricter |
How to close in person at a branch
In-person closure is the most reliable method, especially for complex accounts or when you need written confirmation. Steps typically include requesting closure, settling any balance, signing required forms, and receiving a closure receipt. Ask for written confirmation that the account is officially closed and obtain multiple copies for your records. If you are closing a joint or shared account, all authorized signers may need to be present or provide specific consent depending on relationship type and state law.
How to close by phone or online
You can often close select accounts by calling Bank of America customer service or, where available, through secure online messaging or mobile-app tools. Phone closures may still require identity verification and mailing documentation if the bank requests it. For security, use only official contact methods listed on the back of your card or on the bank’s verified website. If you choose online account management, log in to your secure dashboard to review closure options or start a closure request; not all products can be closed online.
What happens after you submit the request
Once submitted, the bank typically reviews your request within a few business days. During this period, they may confirm your identity, validate documentation, and verify there are no pending holds or automatic payments. After closure, the account status updates to closed, and any remaining funds are returned by check or transferred to another account you specify. Keep all closure confirmations and follow up if you do not receive your refund within the stated timeline.
Safely transition to a new account or close related services
To prevent missed payments or returned transactions, update automatic transfers, direct deposits, and bill payments before the old account closes. If you are moving funds to another Bank of America product or a new bank, provide exact routing and account numbers and monitor two to three transactions to ensure smooth migration. For recurring subscriptions, income deposits, or tax payments, list each service and confirm the change with the vendor. This reduces the risk of late fees, credit impacts, or service interruptions associated with closed accounts.
Alternatives to closing an account
Before closing, consider options that may meet your needs without closure. For example, downgrading to a no-fee or basic checking product, changing direct deposit routing, or adding a secondary signer can provide flexibility. Review your monthly activity and fees to determine if product changes, fee waivers, or balance adjustments are a better fit than closing. If you choose to proceed, keep records of every step in case questions arise later.
Quick comparison of closure methods
| Method | Speed | Best for | Notes |
|---|---|---|---|
| In branch | Same day with receipt | Complex accounts, documentation needs, confirmation | Bring ID, account details, and closure reason |
| Phone | Minutes to days depending on verification | Simple accounts, remote requests | Have account and ID ready; may require follow-up mail |
| Online/mobile | Varies; may take review period | Eligible accounts that support web closure | Not available for all products; check eligibility first |
Final checklist before you finalize
- Confirm any fees and whether they can be waived
- Redirect or cancel automatic payments and direct deposits
- Verify pending transactions have cleared
- Copy and store closure confirmations securely
- Update new account details with recurring vendors if applicable
Closing a Bank of America account involves preparation, verification, and follow-through. By gathering the right documents, understanding potential fees, and coordinating automated services, you reduce complexity and risk. Use this checklist and the outlined methods to complete the process confidently and keep your financial records in order for future reference.
Continue monitoring statements after closure to spot any lingering activity and resolve discrepancies quickly. If you need product alternatives or fee support before closing, contact official Bank of America channels to document your conversation. This evergreen process applies to most personal and small-business scenarios, but specific legal or regulatory requirements may vary by jurisdiction and product type.
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