While the convenience of mobile banking apps is incredible for managing your finances, it's crucial to understand that directly closing a Bank of America account through the mobile app is currently NOT an option. Bank of America, like many major financial institutions, has specific protocols for account closure to ensure security and proper handling of your funds.
Don't worry, though! This guide will walk you through the proper steps to close your Bank of America account, highlighting the preparation you can do using the app, and then the necessary actions to finalize the closure. Let's get started!
Closing Your Bank of America Account: A Comprehensive Guide
So, you've decided to close your Bank of America account. Perhaps you're switching banks, consolidating finances, or simply no longer need the account. Whatever your reason, it's a process that requires careful planning to avoid any unexpected issues. While you can't hit a "Close Account" button in the app, the mobile app will be your best friend in preparing for a smooth transition.
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| How To Close Bank Of America Account On App |
Step 1: Get Ready to Take Control of Your Account Closure!
Before you even think about contacting Bank of America, let's get you fully prepared. This initial preparation using your Bank of America mobile app is absolutely vital and will save you a lot of hassle later.
1.1 Zero Out Your Account Balance (or Resolve Negative Balance)
This is the most critical step. You cannot close an account with a positive or negative balance.
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For a Positive Balance:
- Transfer Funds: Use the Bank of America app's "Transfer" feature to move all your funds to another account (either another Bank of America account or an external bank account). This is usually instant for internal transfers and can take 1-3 business days for external transfers.
- Withdraw Cash: If you prefer cash, you can withdraw the remaining balance at an ATM or a Bank of America financial center.
- Initiate a Wire Transfer: For larger sums, a wire transfer might be an option, though fees typically apply. You can often initiate these through the app or online banking.
- Pro Tip: It's wise to leave a small amount (e.g., $1-$5) for a day or two after transferring the main balance, just in case any pending transactions clear. Once that small amount is all that's left, you can transfer it too.
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For a Negative Balance:
- Pay the Overdraft: You'll need to deposit funds to cover any negative balance and bring it to exactly zero. You can do this via mobile check deposit (if applicable), ATM deposit, or by transferring funds from another account.
- Important: An account with a negative balance cannot be closed until it's cleared.
1.2 Download and Save Your Statements
Once your account is closed, you will lose access to your past statements online or through the app.
- Access in App: Navigate to the "Statements & Documents" section within your Bank of America mobile app.
- Download: Download at least the last 7 years of statements, or as many as you deem necessary for your records (tax purposes, financial review, etc.).
- Save Securely: Save them to a cloud storage service, an external hard drive, or print them out. Consider both digital and physical copies for ultimate security.
1.3 Cancel All Recurring Payments and Direct Deposits
Failing to do this can lead to missed payments or paychecks being sent to a closed account, causing significant inconvenience.
- Review Bill Pay: In the Bank of America app, go to the "Bill Pay" section and carefully review all scheduled and recurring payments. Cancel each one.
- Identify Subscriptions: Think about any subscriptions (Netflix, Spotify, gym memberships) or online retailers (Amazon, food delivery services) linked to this account's debit card or account number. You'll need to update your payment method directly with these merchants.
- Change Direct Deposit: If you have direct deposit for your paycheck, pension, or other income, immediately notify your employer or the paying entity of your new bank account details. Provide them with your new bank's routing and account numbers.
1.4 Destroy Associated Cards and Checks
Once you've ensured no more transactions will clear, it's time to secure your physical items.
- Debit Cards/ATM Cards: Cut up your debit card(s) and ATM card(s) through the magnetic stripe and chip to prevent any unauthorized use.
- Unused Checks: Shred or otherwise destroy any unused checks associated with the account.
Step 2: Choose Your Closure Method (No App Option Here!)
As established, you cannot close your Bank of America account directly through the mobile app. Bank of America provides three primary methods for account closure:
QuickTip: The more attention, the more retention.
2.1 Method 1: In-Person at a Financial Center (Recommended for Simplicity)
This is often the easiest and quickest way to close your account, especially if you have a local branch.
- Locate a Branch: Use the Bank of America mobile app's "Locations" feature to find the nearest financial center.
- Bring Necessary Documents:
- A valid government-issued photo ID (Driver's License, Passport, State ID).
- Your Bank of America account number (you can find this easily in the app).
- Potentially a voided check or debit card associated with the account.
- Speak with a Personal Banker: Inform them you wish to close your account. They will guide you through the necessary paperwork and verify your identity.
- Confirm Zero Balance: The banker will confirm your account has a zero balance. If there's still a small residual amount, they can often issue you cash or a cashier's check on the spot.
- Get Confirmation: Crucially, ask for written confirmation that your account has been closed. This could be a printout or a formal letter.
2.2 Method 2: Over the Phone (Convenient for Remote Closures)
If visiting a branch isn't feasible, closing your account over the phone is a viable alternative.
- Call Customer Service: Dial Bank of America's customer service number. The general customer service line is 1-800-432-1000. For specific account types, different numbers might be available (e.g., credit cards, investments). You can often find specific contact numbers within the "Contact Us" section of the Bank of America app or on their official website.
- Be Prepared for Verification: The representative will ask for various pieces of personal information to verify your identity (account number, Social Security Number, address, security questions, etc.).
- State Your Intent Clearly: Clearly state that you wish to close your account.
- Address Remaining Funds/Negative Balance: If there's a remaining positive balance, they will arrange to transfer it to another account or send you a check. If there's a negative balance, they will guide you on how to clear it before closure.
- Request Confirmation: Ask for a confirmation number for your closure request and inquire about when you can expect a formal closure confirmation via mail or email.
2.3 Method 3: Written Request by Mail (Use as a Last Resort)
This method is generally the slowest and least recommended, but it's an option if other methods are not possible.
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- Prepare Your Letter: Your letter should be formal and include:
- Your full legal name.
- Your Bank of America account number(s) you wish to close.
- Your current address and contact information (phone number, email).
- A clear statement that you wish to close the specified account(s).
- Instructions on how to handle any remaining funds (e.g., "Please send any remaining balance to the following account: [Your New Bank Name, Routing Number, Account Number]" or "Please send a cashier's check to the address listed above.").
- Crucially, all account owners must sign the letter. If it's a joint account, both individuals must sign.
- Notarization (For Larger Balances): If your account balance exceeds $25,000, Bank of America may require your written request to be notarized. Confirm this requirement by calling customer service before mailing.
- Mail to the Correct Address:
- For checking/savings accounts, mail your request to: Bank of America FL1-300-03-15 PO Box 25118 Tampa, FL 33622-5118
- For credit card accounts, mail your request to: Bank of America P.O. Box 982234 El Paso, TX 79998-2234
- Send Certified Mail with Return Receipt: This provides proof that your letter was sent and received.
Step 3: Post-Closure Actions and Monitoring
You've done the hard part! Now, it's about confirming everything is settled.
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3.1 Monitor for Final Confirmation
- Email Confirmation: If Bank of America has your email on file, you should receive an email confirmation once the account is officially closed.
- Final Statement: Expect a final statement in the mail, showing a zero balance and account closure. Review this carefully to ensure no unexpected transactions.
3.2 Update All Financial Links
- Don't forget to update payment information for any remaining services, subscriptions, or bills you might have missed in Step 1.
- Inform any family members or close contacts who might send you money via this account (e.g., Zelle, direct transfers) about your new banking details.
3.3 Be Mindful of Escheatment Laws
If an account remains inactive for an extended period (typically 3-5 years, depending on state laws), banks are required to turn over the funds to the state as "abandoned property" (escheatment). While you're proactively closing the account, it's good to be aware of this process in general.
Frequently Asked Questions (FAQs)
How to check my Bank of America account balance on the app?
Open the Bank of America mobile app and log in. Your account balances will typically be displayed on the main dashboard right after logging in. You can tap on individual accounts for more detailed activity.
How to transfer money from my Bank of America account using the app?
Log in to the app, tap "Transfer" or "Transfer & Pay," select the accounts you want to transfer money between (or to an external account), enter the amount, and confirm the transfer.
How to find my Bank of America account number and routing number on the app?
Log in to the app, select the specific account, then look for "Account Details" or "Show Details." Your account number and routing number should be listed there. You can also find it on your checks or statements.
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How to cancel recurring payments in the Bank of America app?
Go to the "Bill Pay" section in the app. Look for "Scheduled Payments" or "Recurring Payments" and you should see an option to modify or cancel them.
How to download Bank of America statements through the app?
Navigate to "Statements & Documents" within the app. Select the account and the statement period you wish to download. You can then download them as PDFs.
How to locate the nearest Bank of America financial center using the app?
Tap on the "Locations" or "ATM/Branch Locator" icon in the app. It will typically use your current location to show nearby branches and ATMs, along with their hours.
How to contact Bank of America customer service?
While not directly in the app to call, the app's "Contact Us" section provides phone numbers for various services, including general customer service (1-800-432-1000).
How to ensure all pending transactions have cleared before closing?
Check your account activity in the app. Ensure there are no "pending" transactions. It's often recommended to wait a few business days after your last transaction before initiating closure to ensure everything has fully posted.
How to update my contact information with Bank of America?
Within the app, look for "Profile & Settings" or "Manage Profile." You should be able to update your mailing address, phone number, and email address there.
How to handle direct deposits once my Bank of America account is closed?
You must notify your employer or the paying entity of your new bank account details before closing your Bank of America account. If a direct deposit is sent to a closed account, it will typically be rejected and returned to the sender, causing delays.
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