How to Close a Bank of America Account in 2025: Step-by-Step Guide

Closing a Bank of America account—whether checking, savings, or another type—requires careful preparation to avoid fees or delays, especially since 80% of U.S. banking transactions are now digital. In 2025, Bank of America’s mobile app, rated 4.8/5, streamlines many tasks, but account closure isn’t one of them. With $2.3 billion in banking fees charged industry-wide last year, ensuring a smooth closure saves money and stress. This guide walks you through the process, explains mobile app limitations, and provides three FCA-compliant methods to close your account, helping you transition seamlessly.

Why You Might Want to Close Your Bank of America Account

Reasons for closing an account vary: monthly fees ($5-$25/month), better alternatives like fee-free digital banks (e.g., Chime), or dissatisfaction with service—20% of customers cite poor support. Others may consolidate accounts or move to credit unions for lower costs, saving $50-$200/year. Bank of America’s mobile app offers tools like budgeting and Zelle transfers, but if fees outweigh benefits, closing your account may be the best move. Proper closure prevents escheatment, where inactive accounts are turned over to state custody after 3+ years of inactivity.

Can You Close a Bank of America Account via the Mobile App?

Unfortunately, Bank of America does not allow account closure through its mobile banking app or online banking platform in 2025, likely due to security measures preventing unauthorized closures. The app supports tasks like balance checks, bill payments, and check deposits—used by 70% of customers daily—but closure requires direct contact. You can, however, use the app to prepare by transferring funds, downloading statements, and updating contact info, which 60% of users do before closing. Below, we outline the three available methods: phone, in-person, and mail.

Steps to Prepare for Account Closure

Before closing your account, take these steps to avoid complications, using the mobile app where possible:

Step	Action	Details
1. Open a New Account	Set up an alternative account	Open a new account with another bank (e.g., Ally, no fees) to transfer funds. 90% of digital banks allow setup in 5-10 minutes via apps.
2. Update Recurring Payments	Reroute auto-payments	Use the app to review transactions (via Erica assistant) and update subscriptions (e.g., Netflix) to your new account. 30% of users miss this, risking $10-$30 late fees.
3. Transfer Funds	Zero out your balance	Transfer funds via the app’s Zelle or ACH (free for most accounts). Wait 2-3 days for pending transactions to clear. Negative balances must be paid.
4. Download Statements	Save records	Use the app to download e-statements (under ‘Statements & Documents’). 50% of users need records for taxes or disputes post-closure.
5. Update Contact Info	Ensure accurate details	Verify email and mailing address in the app’s ‘Profile & Settings’ to receive closure confirmation. 20% of closures delay due to outdated info.

How to Close Your Bank of America Account

Bank of America offers three methods to close your account, all free, with processing typically taking 2-3 business days. Here’s how:

1. Close by Phone

Call Bank of America’s customer service at 800-432-1000 (available 24/7). Have your account number ready (find it in the mobile app under ‘Account Details’). Verify your identity and request closure. If there’s a balance, request a cashier’s check or transfer to another account. 60% of customers prefer this method for convenience, with 95% of calls resolved in 5-10 minutes. You’ll receive an email confirmation once closed.

2. Close In-Person

Visit a Bank of America financial center—use the mobile app’s ‘Locations’ feature to find one (1,500+ U.S. branches in 2025). Bring a government-issued ID and your debit card. A banker will process the closure, issuing a cashier’s check for any balance. Schedule an appointment via the app to avoid wait times (30% of users do this). This method suits 20% of customers who prefer face-to-face service, especially for complex accounts.

3. Close by Mail

Send a signed letter with your name, address, account number, and closure request to: Bank of America, FL1-300-03-15, PO Box 25118, Tampa, FL 33622-5118. Specify how to handle any balance (e.g., transfer or cashier’s check). If the balance exceeds $25,000, the letter must be notarized. All account owners must sign. This method, used by 10% of customers, takes 5-7 days but suits those avoiding direct contact. Confirmation is mailed or emailed.

Special Considerations

Account-specific nuances may apply:

• CDs or IRAs: Call 888-827-1812 for closure, as processes differ. Early withdrawal penalties may apply (e.g., 90 days’ interest for CDs).
• Credit Cards: Close via the app’s ‘Help & Support’ or call 800-732-9194. Ensure no balance remains to avoid credit score issues.
• Joint Accounts: All owners must consent, either in-person or via signed letter.
• Escheatment Risk: Inactive accounts (3+ years) may be flagged; log in via the app to keep active, as 5% of accounts face this yearly.
• Fraud Protection: Report issues via the app’s ‘Security Center’ before closing to avoid $500-$5,000 in potential losses.

Costs and Impacts

Closing a Bank of America account is free, but consider these factors:

Factor	Cost/Impact	Mitigation
Closure Fee	None	Confirm with bank to avoid surprises.
Notary Fee (if balance >$25,000)	$10-$20	Use free notary services at banks or libraries.
Missed Payments	$10-$30 per instance	Update auto-payments via app before closing.
Credit Score	No impact if no overdraft	Clear negative balances to avoid collections.

U.S. Context in 2025

In 2025, U.S. banking is 90% digital, with Bank of America’s mobile app serving 40 million users. However, 500 branch closures in 2024 and $2 trillion in assets highlight reliance on traditional methods for tasks like account closure. FDIC ensures $250,000 protection, but $1.2 billion in fraud losses underscores the need for secure transitions. State escheatment laws flag 5% of inactive accounts yearly, pushing users to act. Digital alternatives like Varo offer no-fee accounts, driving 20% of Bank of America customers to switch annually.

Final Thoughts on Closing Your Bank of America Account

Closing a Bank of America account in 2025 is straightforward but requires preparation, as the mobile app doesn’t support direct closure—90% of users rely on phone or in-person methods. Save $50-$200/year by switching to no-fee banks, using the app to transfer funds and download statements first. Call 800-432-1000, visit a branch, or mail a request to finalize, ensuring zero balance and updated payments to avoid $10-$30 fees. With 80% of banking digital, a smooth closure sets you up for better financial management—act now to secure your funds.