If you’re thinking of closing your Bank of America savings account, here are a few things to keep in mind. First, make sure you have enough money saved up to cover the balance on your account – typically, the minimum balance required to keep an account open is $1,000. If you don’t have that much money saved up, consider transferring some of your funds over to another bank or investing in a savings account with better interest rates. Next, be sure to submit a request for closure online at bankofamerica.com/accounts/request-closure or by calling 1-800-BANK-OF-AMERICA (1-800-226-5322). You’ll need your account number and the last four digits of your social security number. Finally, make sure you get all the paperwork in order before closing your Bank of America savings account. This includes copies of all your bank statements going back six months and proof of residency such as a driver’s license or utility bill. ..
Bank of America Advantage Savings?
Unfortunately, you cannot terminate a Bank of America account online. It can only be done via one of the following three methods. Speak with an account executive at a local branch if you want to cancel your Bank of America accounts in person. … If you don’t have access to a bank, call the support center at 800.432.
Is it possible to terminate a bank account online? Yes, if your account is in good standing and has no money on it, you may cancel it online.
With that in mind, you may safely close your savings account. If the balance of an account is negative, it cannot be closed. Note that different banks have various closing requirements for savings accounts. Some banks may demand that you visit a local branch to request closure.
Call or visit your bank’s local branch and ask to talk with a personal banker to close your savings account. Alternatively, you may submit a bank account closing letter to begin the process, according to Bank of America instructions for closing an account.
Closing an account may save you money in yearly fees or help you avoid fraud, but closing the wrong accounts might damage your credit score. To assist your credit score, check your credit reports online to see whether any of your accounts have been closed before you cancel them.
