Bank accounts are an essential thing, and every one of us has one, actually these days, we people have more than one. We can not imagine our lives without having a bank account in this century. There are many advantages of having a bank account. The major one is it is safe to keep our money deposited in the account. And money management gets more comfortable. We can make funds transfers online and even pay the utility bills right from our bank account. But sometimes we have to close down the bank account we have. And in this guide, we will tell you how you can close Bank of America account.
There are many reasons why people might end up deciding to close their bank account. You might have your reason to close your bank account. If you wish to share it with others, then you can do that by commenting down below. The primary reason why people who have their accounts in Bank of America, close it is the charge they make for non-maintenance of the balance. If you don’t maintain the right amount of balance in your Bank of America, account then you might end up paying hundreds of dollars as a fine.
And if you have already made up your mind to close Bank of America account. Then we are here to help you out with this case. We have mentioned multiple methods that you can follow to close your bank account. But before we proceed to the further part of this guide. Let us tell you a few things in brief about the bank in which you currently hold your account.
About Bank of America
|Type of the Bank||Public|
|Headquarters||Charlotte, North Carolina, U.S.|
|Owner||Berkshire Hathaway (10%)|
|Number of Locations (approx)||4,600|
|Number of Automatic Teller Machines (approx)||16,200|
|Area Served||International Service|
|Number of Employees (2019)||204,489|
|Products offered||Consumer banking, corporate banking, insurance, investment banking, mortgage loans, private banking, private equity, wealth management, credit cards.|
|Revenue (2019)||US$91.24 billion|
|Operating Income (2019)||US$34.60 billion|
|Net Income (2019)||US$28.14 billion|
|Total Assets (2019)||US$2.325 trillion|
|Total Equity (2019)||US$264.74 billion|
|Customer Care’s Phone Number||00 1 315-724-4022|
Steps to Close Bank of America Account
Now we know quite many things about the Bank of America. There are multiple methods that you can follow to close Bank of America account. We have mentioned those below. You can select any one of those methods to close the account.
Closing Bank of America Account Online
There is an option in Bank of America that will let you close your bank account online. When I say online, I am talking about the online banking of the bank. If you wish to use this method, then you need to have your login credentials with you.
- Go to the official website of the Bank of America.
- Click on the Login link on the website.
- Enter your Online ID, Passcode, and Click on Sign In.
- Head towards the support section and choose to chat with Bank of America’s executive.
- Tell them that you want to close your bank account.
- Ask them the complete procedure which you need to follow and get your account closed.
Closing Bank of America Account by Call
Many people like to go with this method to lose their bank account. That is because they don’t need to get out of their place to get this thing done.
But to do this, you have to first look for the phone number of the bank on which you can contact them. Go to the official website of the bank. Head towards the Contact Us section and choose your concern why you want to contact them. You will find the right phone number there.
- Call the Bank of America on their phone number.
- Get your call connected to talk to the customer care executive.
- Tell him or her that you wish to close down the account you have with them.
- The executive will ask you a few questions about your bank account.
- Answer the bank account verification questions correctly.
- If there are no complications with your account, your request will be taken.
Here you should note one thing: there are different phone numbers for Savings Bank account and Checking Bank Account. That is why I told you to find the right phone number from the bank’s official website.
Closing Bank of America Account from Branch
This method will need you to visit any of the branches of the bank personally. Bank of America is quite famous, and you can easily find their branches. If you want to get the bank’s precise location details, you can use the locator function on their official website.
- Locate the nearest branch of the Bank of America.
- Visit the branch.
- Tell the concerned bank official at the branch that you want to close the bank account.
- If there is a negative balance in your bank account, then clear it.
- Make your bank account balance zero.
- Or give the bank instructions on how you want to receive the remaining balance in your account.
- The officials will ask you to show your identity proof document.
- Show the officials your document.
- Your request will be taken into consideration.
Closing Bank of America Account by Mail
You have an option in which you can close your bank account by sending a mail to the bank. Here when I say mail, I am not talking about the E-Mail. I am here mentioning a written application which you will have to send to the bank.
The address to which you have to write is Bank of America, FL1-300-01-29, PO Box 25118, Tampa, FL 33622-5118.
I am mentioning this method at the last because this is the least recommended method to close the bank account. We can not be sure if the mail has reached the correct place. Still, if you wish to go with this method to close your bank account, further instructions are mentioned below.
- Write a mail (letter) to the address of the bank mentioned above.
- Mention the subject as “Closure of Bank Account.”
- Make sure you mention your name and bank account number.
- Tell the bank how you wish to receive the remaining balance.
- Sign the letter and send the mail to the address of the bank.
Validation of Information
Now let us talk about the validation of the information that is mentioned in this article. And why you should trust whatever is said. We have mentioned the steps taken to make sure that the data is valid.
- Our team verifies this data.
- The same steps are mentioned on the official website of the Bank of America.
How to Contact Bank of America?
You can contact the Bank of America by using the information provided below. There are various means to contact them. It is up to you to decide how you want to contact the bank.
- Phone Number: 00 1 315-724-4022
- Website: www.bankofamerica.com
- Facebook: www.facebook.com/BankofAmerica
- Twitter: https://twitter.com/BankofAmerica
Other than these modes, you can also locate any of the Bank of America branch that is near your location. You can use the official website to find the nearest branch. If you don’t want to use their official website, you can use any other map providers. (Google Map)
These are the online references used by our team to write this guide to close Bank of America Account. If you wish, you can read them as well. We recommend this because it is useful when you are very sure about what you are planning to do.
How Can I Close Bank of America Account Online?
If you wish to close your Bank of America account online. Then you have to visit the official website of the bank → Login to your Bank Account → Contact → Chat with the Executive. Tell them that you want to close your bank account.
How to Close the Bank of America Account by Call?
You can call the bank on their phone number: 00 1 315-724-4022. Tell them that you want to close your bank account. They will guide you with the steps.
How to Close Bank of America Account with Negative Balance?
If you have a negative balance in your Bank of America Bank account. Then first you have to clear all the negative balance and later you will be allowed to close your account.
Can I Close my Bank of America Account by Mail?
Yes, you can close your bank account by sending physical mail to the bank's address. You have to write the application addressing to the bank. However, this is the slowest method to close the account.
What is Mailing Address of Bank of America to Close the Account?
Bank of America, FL1-300-01-29, PO Box 25118, Tampa, FL 33622-5118.