How to close a Bank of America account online, by phone or via mail

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There are three different ways to close your Bank of America account. You can close your account by visiting a local branch or through a written request via mail. Additionally, you can close your Bank of America account over the phone at 800-432-1000.

Bank of America is undoubtedly the biggest bank in the United States, with over $2.2 trillion in assets. Although one of the best-known banks with some of the most extensive variety of deposit accounts and credit services, it’s difficult to argue that doing business with a bank as massive as the Bank of America can often mean multiple fees or other issues that are difficult to solve without visiting one of the branches – which can take a lot of time.

There are various reasons why people decide to close their bank accounts. Maybe you are looking to upgrade to a new bank for a better deal, found another bank with products tailored to fit your needs, or just want to close your Bank of America account for no reason at all, which is fine too.

Before you close your Bank of America account

Closing a bank account is quite easy, but before you start the process, there are some important steps you need to take first.

Confirm the account is still alive

The first step to closing your Bank of America account is to confirm that the account is still alive and not deemed abandoned. This may be the case if you have not used your BofA account for a while.

Negative balance or overdrawn account

To close your Bank of America account, you must have a positive or zero bank account balance. If your account balance is negative or overdrawn, you’ll not be allowed to close it until the account is zeroed out.

Additionally, Bank of America requires their checking or savings account holders to always have a minimum balance in their account. Otherwise, you get charged up to $25 per month, which adds up to $300 a year – definitely one reason people close their Bank of America account.

Open another bank account

Before you close your Bank of America account, make sure to set up and fund a new bank account with another financial institution. There are so many limitless options out there, be sure to choose the one that aligns with your future financial plans.

Set up direct deposit to the new account

After you zeroed out your Bank of America account, you should update all deposits to the new account, such as your paycheck – notify your employer about the new account.

Update all saved and scheduled payment to the new account

Before you close and part ways with Bank of America, it’s important that you update all saved auto payments on file like car payments, utility payments, subscription services, etc. If you have companies that you need to pay automatically every month from your bank account, you should let them know about the new development if necessary. Ensure that nothing is linked to your old Bank of America account.

Download your bank statements

This could be useful in the future if you need a record of the account. It’s a lot of hassle getting the bank statement of a closed account. Simply login to your Bank of America account and download all your monthly statements for keep.

Transfer remaining balance to your new account

The next step is to transfer any remaining funds from your current Bank of America account to the new account. Using electronic transfer will likely be the best – it’s faster instead of waiting to get a check from Bank of America once the account is officially closed. If your account balance was negative before the closure, ensure you deposit the necessary amount needed to raise the balance to zero.

Close a Bank of America checking or savings account

Now that all the necessary pre-closure steps are complete, you can now close the account for good. Currently, there are three options you can use:

Visit a local Bank of America branch

The first method is to go to a physical branch of the Bank of America. You can use branch locator to find the closest branch to you. Once you get there, speak to a customer representative and tell them you want to close your account.

They will ask for some information to verify your identity including, your social security number, PIN, home address, date of birth, and other necessary details.

If you had any balance on your account, you’ll be given cash or a cashier’s check. If it’s an overdraft balance, you will need to make a deposit to remove the negative balance.

Finally, you’ll be asked to fill out an account closure form and your account will be closed without delay.

Call Bank of America over the phone

If you can’t find a convenient branch nearby or don’t want to travel to a local branch, you can use the easiest and quickest method to shut down your account. You can do this from anywhere as long as you have a phone.

Simply call the Bank of America customer service department at 800-432-1000 (toll-free) and follow the prompts to speak with a representative who can help you close your account.

Submit a written request via mail

You can also close your Bank of America checking or savings account by submitting a written account closure request via mail to:

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

The letter should be signed by all account owners. Just know this method will take some time as you’d have to wait for your account closure request to reach Bank of America.

If you still have some funds remaining in your account, you should specify in the letter how and where you’d like to receive your money.

Can you close a Bank of America account online?

You cannot close a Bank of America account online. You can, however, close your account through phone, mail, or by visiting one of their branches. For the account closure not to decrease your score, be sure to review your account and pay off any potential overdraft if you have any.

Can I close my Bank of America account over the phone?

You can easily close your Bank of America account over the phone by calling 800-432-1000. Alternatively, you can close your account by sending a written letter to Bank of America, FL1-300-01-29, P.O. Box 25118, Tampa, FL 33622-5118. Or visit one of the local branches and request that your account be shut down.

What happens when Bank of America closes your account?

After closing your account, Bank of America has to return your remaining account balance. However, if you need to pay any outstanding charges or fees, Bank of America will deduct them before mailing you a check for your remaining account balance.

How much is it to close a Bank of America account?

You don’t pay anything. It’s free to close a Bank of America account over the phone, via mail, or by going to one of the branches.