There is no definitive answer to this question, as it can depend on a variety of factors. Some banks may charge a fee to close an account, while others may not. It is important to check with your bank before making any decisions about closing an account.
Visit a local financial institution. Call us at 800.432.1000. Send your request via letter to Bank of America, FL1-300-01-29, PO Box 25118, Tampa, FL 33622-5118. Make sure the letter is signed by all account holders and that they explain how they want their balance paid out if any is available.
Closing a bank account does not incur any fees for most banks. Although many banks do not charge a fee to terminate a bank account, some will charge you an early account closure cost if you close your account within 180 days of opening it. PNC, for example, charges a $25 penalty if you close an account within 180 days of establishing it.
What Should I Do If My Bank of America Account Is Frozen? Unfortunately, you cannot cancel a Bank of America savings or checking account online. It can only be done by one of the following three methods. Visit a local branch and talk to an account executive if you want to terminate your Bank of America account in-person.
Closing an account may save you money in annual charges, or help you avoid fraud on those accounts, but closing the incorrect ones might harm your credit score. Check your credit reports to see if any of your accounts are still active before you close them so that you can improve your credit score.
Closing an account may save you money in annual charges, or help you avoid fraud on those accounts, but closing the incorrect ones might harm your credit score. Check your credit reports to see if any of your accounts are still active before you close them so that you can improve your credit score.
