This analysis describes what Bank of America's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
The provision establishes the bank's contractual rights regarding account closure and defines the procedural framework for account termination. This clause addresses the bank's ability to discontinue the deposit relationship and governs transition procedures.
The updated Deposit Agreement now explicitly discloses that disputes are subject to mandatory arbitration and class action waiver provisions, as stated prominently at the document's opening. The agreement establishes separate dispute resolution procedures for personal and business accounts and introduces new operational provisions governing account closure, jurisdiction and venue, cutoff times for legal orders, and responses to conflicting demands. The terms require that by using or maintaining your account after a change is effective, you agree to be bound by the updated provisions. You can review the complete updated agreement on bankofamerica.com or contact Bank of America directly if you wish to understand how the specific dispute resolution procedures apply to your account.
View change record →Under this provision, account holders operate subject to the bank's authorization to terminate accounts according to the terms stated. The clause specifies the notice period and procedures account holders must follow upon account closure.
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The provision establishes the bank's contractual rights regarding account closure and defines the procedural framework for account termination. This clause addresses the bank's ability to discontinue the deposit relationship and governs transition procedures.
Under this provision, account holders operate subject to the bank's authorization to terminate accounts according to the terms stated. The clause specifies the notice period and procedures account holders must follow upon account closure.
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