Vertically neutral collapse of a pulsating bubble occurs when the boundaries above or below the bubble balance the buoyancy effect over a pulsation. In this study, the vertically neutral collapse of a bubble near a vertical rigid wall below the free surface is investigated. The boundary integral method (BIM) is employed to model the bubble dynamics with an open-domain free surface. Moreover, this method is validated against several buoyant bubble experiments. Bubble dynamics in such conditions are associated with three dimensionless parameters: the bubble-free surface distance
$\gamma _{{f}}$
, bubble–wall distance
$\gamma _{{w}}$
and buoyancy parameter
$\delta$
. We derive the Kelvin impulse of a spherical bubble and the algebraic relationship for vertically neutral collapse, which proves to be accurate for predicting vertically neutral collapse when the bubble is relatively far from the boundaries. Four patterns of the vertically neutral collapse of the bubble for different
$\gamma _{{w}}$
and
$\gamma _{{f}}$
are identified: (i) formally downward jet; (ii) annular collapse; (iii) horizontal jet; and (iv) weak jet. Despite the downward jet shape, the ‘formally downward jet’ is in the vertically neutral collapse state in terms of the profile of toroidal bubbles and the orientation of local high-pressure zones around the bubble at jet impact. A bulge with a high curvature above the bubble in the ‘annular collapse’ pattern is formed during bubble collapse under two local high-pressure zones at the left and right extremities of the bubble. The ‘horizontal jet’ pattern has the greatest potential to attack the wall, and the power laws of the moment of the jet impact, jet velocity and bubble displacement with respect to the theoretical Kelvin impulse are discussed. In particular, we quantitatively illustrate the role of the free surface on bubble migration towards the wall through the variational power-law exponents of the bubble displacement with respect to
$\gamma _{{w}}$
.