How to Close Bank of America Account: 3 Ways

Updated on March 4, 2024

At a Glance

  • Bank of America account closure is possible through methods like visiting a local branch, calling customer support, or mailing a written request.
  • Closure requests cannot be processed through the website or app.
  • Before closing, ensure you have a new bank account and update payment information with relevant companies.
  • Closing the account does not directly impact your credit score, but outstanding overdraft balances can have consequences if not repaid.

As the largest bank in the United States, Bank of America boasts over $2 trillion in assets. However, monthly fees might prompt you to close your account, a concern shared by both citizens and non-US citizens. To learn how to close your Bank of America account, continue reading for detailed instructions.

Can I Close My Bank of America Account?

Yes, you can close your Bank of America account, but not online or via the app, as these options are currently unavailable. This limitation is likely a security measure to prevent unauthorized closures. However, there are alternative methods for closing your account.

How to Close Your Bank of America Account

So, you’ve made up your mind and you’re sure that you would like to close your Bank of America account. Now what? Well, you must know how to close your account, as there are a few methods available. We’ve established that closing your account online is not possible, so how can you do it? Here are the available methods:

  1. At the local branch
  2. Through Customer Service
  3. Via the mail

Read on to learn more about each process!

1. Close Your Account at the Local Branch

One of the obvious methods is by going to a physical bank, of course. You have to go to a branch of the Bank of America. Once you’re there, you will tell them that you wish to close your existing account.

To close your account, you will need to:

  • Request an account closure
  • Verify your identity (address, SSN, birthday, etc)

From here, the teller or bank manager will do the rest. If you haven’t already transferred your funds, the banker will make out a cashier’s check for the account balance.

2. Close Your Account by Calling Customer Service

The quickest and easiest method to close your account is by calling the bank. This is a nice method in case you want to do everything from the comfort of your own home. Just call their customer support service at 1-800-432-1000 and one of the bank representatives will take care of the situation.

The customer support service is toll-free, and you will easily go through a few steps that will help you close your account.

3. Close Your Account Via the Mail

Closing the account is also possible by mailing a signed written account closure request to the Bank of America address. This may be easy, but it can be time-consuming as you have to wait until your signed written account closure request reaches them. But if you want to use this method, then mail them the document at the following address:

Bank of America

FL1-300-01-29PO Box 25118 Tampa, FL 33622-5118

10 Things to Do Before You Close Your Account

Before closing your Bank of America account, consider these five essential steps:

  1. Open a New Bank Account: Set up a new account with a different bank before closing your current account. This facilitates an easy transfer of funds from Bank of America to your new account.
  2. Transfer Your Balance: After setting up your new account, transfer the balance from your Bank of America account. Ensure all pending transactions are cleared to avoid overdrawing.
  3. Update Direct Deposits: Redirect any direct deposits, such as paychecks, from your Bank of America account to the new account. Contact your employer’s HR or payroll department for necessary changes.
  4. Cancel Auto-Payments: Change all automatic payments set up with your Bank of America account to your new bank. This includes mortgage or rent, utilities, credit cards, insurance, loans, and subscription services. Review bank statements to track all recurring charges.
  5. Update Payment Information: Notify utility providers, lenders, and other entities about your new banking details to ensure continuous service and avoid missed payments.
  6. Download Bank Statements: Before closing your account, download all available monthly statements from Bank of America’s website. These records are important for future reference and may be difficult to obtain after account closure.
  7. Check for Overdrafts: Ensure your account is not overdrawn. If needed, deposit enough funds to bring the balance to zero.
  8. Verify Account Status: If your account has been inactive, confirm it’s not classified as abandoned, which can happen after extended periods of inactivity.
  9. Final Fund Transfer: Once all payments and deposits are rerouted, and the account balance is zero, transfer any remaining funds to your new account. Wait until all recurring payments are successfully posting to the new account before completing this step.
  10. Account Closure Request: After completing these steps, contact Bank of America to close your account. Ensure no active links or pending transactions remain tied to the account.

Remember to do these steps carefully to avoid any financial mishaps or credit issues during the transition.

Does Closing a Bank Account Affect Your Credit Score?

Closing your bank account doesn’t directly impact your credit score. However, closing an account with an overdraft balance can create issues, as explained by Experian. Banks and credit unions don’t report regular account information to credit bureaus, so closing an account in good standing won’t appear on your credit report. However, if you leave an unpaid overdraft balance, the debt could be sent to collections and reported to credit bureaus, affecting your credit score for seven years. Therefore, it’s important to clear any overdrafts before closing your account.

Read More

Closing a Bank of America Account FAQ

Below, you will find some common questions about closing a BOA account and their anwers.

How can I close my Bank of America account?

To close your account, you need to contact Bank of America directly, either in-person at a branch, by phone, or by sending a written request.

Can I close my account online?

Currently, Bank of America does not offer the option to close accounts online or through their mobile app.

What should I do before closing my account?

Before closing, transfer your balance to a new bank, update direct deposit and auto-payment details, download all necessary bank statements, and ensure your account is not overdrawn.

Are there any fees for closing a Bank of America account?

Bank of America typically does not charge a fee for closing an account, but it’s advisable to check for any potential charges or account-specific fees.

How long does it take to close a Bank of America account?

The closure process can vary in time. It’s generally immediate upon request, but it’s best to confirm with the bank for specific timelines.

What happens to automatic payments and direct deposits after closing my account?

These will fail or be rejected once your account is closed. Ensure you reroute all payments and deposits to your new bank account beforehand.

Will closing my account affect my credit score?

Closing a bank account does not directly affect your credit score. However, ensure the account is not overdrawn to avoid negative consequences.

Can I reopen a closed Bank of America account?

Generally, once an account is closed, it cannot be reopened. You would need to open a new account.

What happens if there’s a remaining balance in my account?

If there’s a balance at the time of closure, Bank of America will issue a check for the remaining amount.

Should I confirm the closure of my account?

Yes, it’s a good practice to get a confirmation of account closure from the bank for your records.

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Frank Gogol

I’m a firm believer that information is the key to financial freedom. On the Stilt Blog, I write about the complex topics — like finance, immigration, and technology — to help immigrants make the most of their lives in the U.S. Our content and brand have been featured in Forbes, TechCrunch, VentureBeat, and more.

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