You can close a Discover savings account by phone, online, or by mail — the fastest way is usually a phone call

Discover does not charge a fee to close your savings account, and you can do it without visiting a branch because Discover operates entirely online. Before you close, you will need to withdraw any money in the account or let Discover transfer it to another bank account you own. Once the account balance is zero, you can request closure through Discover's customer service line, your online account dashboard, or by sending a written request by mail.

The process typically takes a few business days to complete. Discover will send you written confirmation that the account is closed, usually within one to two weeks. If you have set up automatic deposits or payments tied to this account, you should change those arrangements before closing so money does not try to go into an account that no longer exists.

Key Takeaways

  • Discover charges no fee to close a savings account at any time, and you do not need a reason to request closure.
  • Your account balance must be zero before closure — you can withdraw funds to another bank account or ask Discover to transfer the money for you.
  • The fastest closure method is calling Discover customer service at the number on the back of your card or in your online account.
  • You should update any automatic deposits or bill payments linked to the account before closing to prevent failed transactions.
  • Discover will mail you written confirmation of closure, which you should keep for your records.

Closing your account by phone

Call the customer service number on the back of your Discover card or listed in your online account. Have your account number ready when you call. Tell the representative you want to close your savings account, and they will confirm your identity by asking for personal information like your Social Security number or date of birth.

The representative will check your account balance. If you have money in the account, you can ask them to transfer it to a bank account you own at another bank, or you can withdraw it yourself before calling back to close. Once the balance is zero, the representative will process the closure request. The call usually takes five to ten minutes.

Closing your account online

Log into your Discover online account or mobile app. Navigate to the account settings or profile section — the exact location varies depending on which device or app version you are using. Look for an option labeled "Close Account," "Account Closure," or "Manage Account." Discover's website should walk you through the steps once you select that option.

You will need to confirm that your account balance is zero before the system allows you to submit a closure request. If you have a balance, withdraw the funds or request a transfer to another bank account first. After you submit the online request, Discover will send you an email confirming that closure is in progress.

Closing your account by mail

Write a letter to Discover requesting account closure. Include your full name, account number, and the date. Keep the letter brief — a single paragraph is enough. Mail it to the address listed on your account statement or on Discover's website under "Contact Us." Send it via regular mail or certified mail if you want proof of delivery.

Before mailing, make sure your account balance is zero. Discover will receive your letter within five to seven business days, and processing the closure request may take an additional one to two weeks. This method is slower than phone or online closure, so use it only if you cannot reach customer service by other means.

What to do with your money before closing

You have two options for the money in your account. The first is to withdraw it yourself using Discover's online transfer tool or by requesting a check. Log into your account, go to the transfer section, and send the money to a bank account you own at another bank. Discover typically processes transfers within one to three business days.

The second option is to ask the Discover representative (if closing by phone) or include instructions in your letter (if closing by mail) to transfer the balance to another account you own. You will need to provide the routing number and account number of the receiving bank. This saves you a step, though it takes the same amount of time to process.

Updating automatic deposits and payments

Before you close the account, check whether any automatic deposits or bill payments are connected to it. Log into your Discover account and look at your recent transactions to see what money regularly goes in or out. Common automatic deposits include paychecks and government benefits. Common automatic payments include insurance premiums, loan payments, or subscription services.

Update each automatic transaction to use a different bank account. Contact your employer's payroll department to change where your paycheck goes, contact your benefits provider to update your deposit account, and log into each service (insurance company, loan servicer, subscription platform) to change the payment method. Do this before you close the Discover account so nothing fails or bounces.

What happens after you close the account

Discover will mail you a written confirmation of closure within one to two weeks. Keep this letter in case you ever need proof that the account was closed on a specific date. The account number will no longer be active, and you will no longer receive statements for it.

If you change your mind and want to reopen a savings account with Discover later, you can do so by going through the normal account opening process. Discover does not penalize you for closing and reopening accounts. However, if you closed the account because of a problem with Discover's service, consider whether you want to bank with them again before reopening.

Frequently Asked Questions

Do I lose money if I close my account?

No. You keep all the money in your account — you just need to move it somewhere else before closure. Discover does not charge a fee to close, and you do not forfeit any balance or earned interest.

What if I have a pending deposit or payment when I close?

Pending transactions may fail if the account is closed before they process. Withdraw your money and close the account only after all pending activity has cleared. Check your recent transactions for anything marked "pending" and wait for it to complete.

Can I close the account if I still owe Discover money?

If you have an overdraft or owe fees, Discover will not allow you to close until that debt is paid. Contact customer service to find out what you owe, pay it, and then request closure.

How long does it take to close the account?

Phone and online closure requests are processed within a few business days. Mail requests take longer — typically one to two weeks after Discover receives your letter. You will receive written confirmation once the closure is complete.

What if I need to reopen the account later?

You can open a new Discover savings account at any time through their website or by phone. There is no penalty for closing and reopening, though you will be assigned a new account number.