You can close a Discover savings account by phone, online, or by mail, and the process takes a few minutes to a few days depending on which method you choose

Discover lets you close a savings account without penalty or waiting period. You do not have to keep a minimum balance, and there is no fee for closing. The main thing you need to do before you start is move or withdraw any money in the account — Discover will not close an account that still holds funds.

The fastest way is by phone. Call Discover customer service at 1-800-347-2000, tell them you want to close the account, and they will process it while you are on the line. You will need your account number and the last four digits of your Social Security number to verify your identity. If you prefer not to call, you can close the account through your online Discover dashboard or by mailing a written request.

Key Takeaways

  • You must withdraw or transfer all money from the account before Discover will close it.
  • Calling 1-800-347-2000 is the fastest method and takes about five to ten minutes.
  • Online closure through your account dashboard is available if you log in and navigate to account settings, though the exact steps depend on your browser and device.
  • If you close the account, Discover will stop paying interest on any remaining balance, so move your money first.
  • Discover will send you written confirmation of the closure, usually within one to two weeks.

Closing by phone

Call Discover at 1-800-347-2000 during business hours. A representative will ask you to confirm your identity by providing your account number and the last four digits of your Social Security number. Have these ready before you call.

Tell the representative you want to close your savings account. They may ask why you are closing it — this is optional information, and you do not have to answer. Once they confirm the account balance is zero, they will process the closure. The account will close when ready, though you may see it in your online dashboard for a day or two after the call.

Ask the representative for a confirmation number before you hang up. Write it down. Discover will mail you a written confirmation letter within one to two weeks, but the confirmation number is proof the closure was requested on that date.

Closing through your online account

Log into your Discover account at discover.com. Navigate to the account settings or account management section — the exact location varies depending on whether you are using a computer or mobile app, but it is usually labeled "Settings," "Account," or "Manage Account."

Look for an option to close the account. Discover's website may label this as "Close Account," "Close Savings Account," or "Account Closure." Click it and follow the prompts. You will need to confirm that the account balance is zero before the system will let you proceed. Once you submit the request, the closure is processed, though it may take one to two business days to appear in your records.

Print or save a screenshot of the confirmation page. Discover will also send you a confirmation email and a mailed letter, but having your own record is useful if you need to reference the closure date later.

Closing by mail

Write a letter to Discover requesting account closure. Include your full name, account number, the last four digits of your Social Security number, and your signature. Keep the letter brief — one or two sentences is enough. Mail it to Discover Bank, Attn: Customer Service, P.O. Box 15298, Wilmington, DE 19850-5298.

Send the letter by regular mail or certified mail. Certified mail gives you a receipt and tracking number, which is useful if you ever need to prove you sent the request. Regular mail is fine if you are not concerned about proof of delivery.

Discover will receive the letter within three to five business days and process the closure within one to two weeks. You will receive a confirmation letter in the mail. This method is slower than calling or using your online account, so use it only if you cannot access the phone or the website.

What to do with your money before closing

Before you request closure, move all money out of the account. You can transfer funds to another bank account you own, or withdraw cash at a Discover ATM or at any bank that accepts Discover debit cards.

If you have pending deposits or transfers, wait for them to clear before closing the account. If the account is closed while a deposit is in transit, the deposit may be rejected or delayed. Check your recent transactions to make sure nothing is still processing.

Once the account balance shows zero in your online dashboard, you are ready to close. Discover will not close an account that still holds money, so if you request closure and the balance is not zero, the request will be denied or delayed until the balance clears.

What happens after you close the account

Once the account is closed, you cannot use it to deposit money or earn interest. Any debit card linked to the account will stop working. If you have automatic transfers set up to or from this account, they will fail, so cancel or redirect them before closing.

Discover will send you a final statement showing the account closure date. Keep this for your records. If you ever need to dispute a transaction or verify that the account was closed on a certain date, you will need this statement.

If you closed the account by mistake, you can reopen it by calling Discover or logging into your account online. Discover will usually reopen a recently closed account without requiring a new process, though this depends on how long ago you closed it and whether your account was in good standing.

Frequently Asked Questions

What if I have a pending direct deposit scheduled to this account?

Cancel the direct deposit before you close the account. Contact your employer or the organization sending the deposit and update your banking information. If a deposit arrives after the account is closed, it will be rejected and returned to the sender, which can delay your payment by several days.

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

If you have an overdraft or other debt to Discover, you cannot close the account until it is paid. Discover will not process a closure request if the account shows a negative balance. Pay the amount owed first, then request closure.

Will closing the account hurt my credit score?

Closing a savings account does not affect your credit score. Savings accounts are not reported to credit bureaus. Only credit products like credit cards, loans, and lines of credit appear on your credit report.

How long does it take to close the account?

By phone, closure is when ready. By mail or online, it takes one to two business days. You will receive written confirmation within one to two weeks. The account may still appear in your online dashboard briefly after closure, but it will be marked as closed.

What if I need to reopen the account later?

You can reopen a closed Discover savings account by calling customer service or logging into your online account, usually within 30 days of closure. After 30 days, you may need to open a new account instead. Ask Discover about their policy when you close.