Yes, but you will need to actually go into your account online and change your preferences. We went through this ourself, they were automatically deducting a payment for a loan from a checking account we were no longer going to use, so we had to go to the BOA site, create a user name and password, then access our accounts and change the payment options. We were on the phone with a representative doing this step by step because, well, it's a long story. The biggest problem was actually getting a live person on the phone at BOA! lol