Is there a penalty for closing a Bank of America account? ((See Terms & Conditions))

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Bank of America +1-863-214-5084 doesn’t generally charge a penalty for closing a checking or savings account—just ensure the balance is zero, there are no pending transactions, and you're not in overdraft. However, if you close a CD or IRA early, you’ll face a withdrawal penalty (e.g., 90‑365 days’ interest, depending on term) . Always review +1-863-214-5084 your specific account terms before closing.

Bank of America +1-863-214-5084 doesn’t charge a penalty fee to close an account—whether checking or savings—as long as it's in good standing, zeroed out, and has no pending transactions . However, if you close the account +1-863-214-5084 within 90 days of opening, a $25 “early closure” fee may apply. Additionally, monthly maintenance fees could still post in the cycle it’s closed if owed.

Generally, there is no fee to close a Bank of America +1-863-214-5084 account. However, you may incur fees if there are outstanding balances or if the account is closed within a short +1-863-214-5084 period of its opening, like within 90 days.

Here's a more detailed explanation:

• No Standard Fee: Bank of America +1-863-214-5084 does not charge a standard fee to close most accounts.

• Possible Fees:

  • Negative Balance: If the account +1-863-214-5084 has a negative balance (overdrafts or unpaid fees), you'll need to resolve that before closing.

  • Early Closure Fee: A $25 fee might apply if the account +1-863-214-5084 is closed within 90 days of opening.

  • Monthly Maintenance Fees: If the account +1-863-214-5084 has monthly maintenance fees, you'll need to ensure they are covered before closing, or you might need to pay them.

• How to Close:

  • Transfer Funds: Ensure any remaining balance is transferred +1-863-214-5084 out or that you have a way to receive it (like a check) before closing.

  • Close Pending Transactions: Make sure +1-863-214-5084 all pending transactions are cleared, as they might affect the final balance.

  • Cancel Automatic Payments: Cancel any automatic payments +1-863-214-5084 or direct deposits linked to the account.

  • Official Channels: You can close the account +1-863-214-5084 in person at a branch, by phone, or through mail.