You can close a Discover savings account by phone, online, or by mail — the fastest way is a phone call to their customer service line
Discover does not charge a fee to close your savings account, and you can do it without visiting a branch because Discover operates only online. Before you close, you will need to withdraw any money in the account or let Discover know where to send it. The process itself takes a few minutes, but the account may take a few business days to fully close after you initiate it.
You have three ways to close: call Discover's customer service number (which you can find on your account statement or the back of any Discover card), go through your online account dashboard, or mail a written request. Most people find the phone route fastest because a representative can answer questions about your balance and confirm the closure when ready.
Key Takeaways
- Discover charges no fee to close a savings account at any time, and you do not need to visit a physical location.
- You must have a zero balance or arrange for Discover to send any remaining money to you before closing.
- Calling customer service is usually the quickest method and lets you confirm the closure in real time.
- After you request closure, the account typically closes within a few business days, though you may see it listed as closed when ready in your online dashboard.
- If you have a linked Discover checking account, closing your savings account does not affect it.
What to do with money still in your account
Before Discover will close your account, any balance must be zero. If you have money in the account, you have two choices: withdraw it yourself, or ask Discover to send it to you.
The easiest option is to transfer the balance to another bank account you own — you can do this through your Discover online dashboard by linking an external account, or by calling customer service and asking them to initiate the transfer. Discover will send the money to the account you specify, usually within one to three business days. If you do not have another account set up, you can withdraw cash at an ATM using a Discover debit card (if you have one), or request that Discover mail you a check.
Do not close the account until the balance is zero. If you request closure while money is still in the account, Discover will either hold the closure request until you move the funds, or they may send you a check automatically — but this can delay the process by several weeks.
Closing through your online account
Log into your Discover account on their website or mobile app. Look for a settings or account management section — this is usually found under your profile or account menu. Discover's dashboard layout changes occasionally, so if you cannot find a close account option, the phone method is more reliable.
If you do find the online closure option, you will typically be asked to confirm your request and may see a summary of your account status. Make sure your balance is zero before you submit. After you confirm, you should see a message saying your closure request has been received, and the account will close within a few business days.
Closing by phone
Call Discover customer service at the number on your account statement or Discover card. Tell the representative you want to close your savings account. They will ask you to verify your identity — usually by providing your account number, Social Security number, or answers to security questions you set up when you opened the account.
The representative will confirm your current balance. If it is zero, they will process the closure when ready. If you have a balance, they will ask where you want the money sent — to another bank account, as a check, or as a cash withdrawal. Once you tell them, they will submit your closure request and give you a confirmation number. Write this down or ask them to email it to you.
The entire call usually takes five to ten minutes. The account will close within a few business days, though you may see it marked as closed in your online dashboard right away.
Closing by mail
If you prefer to close by mail, write a letter to Discover requesting account closure. Include your full name, account number, and the date. Keep the letter brief — one or two sentences is enough. Sign it and mail it to the address listed on your account statement or on Discover's website.
Mail takes longer than phone or online closure. Your letter may take three to five business days to arrive, and Discover may take another week or more to process it. If you are in a hurry, phone or online closure is faster. If you do mail a request, consider sending it certified mail so you have proof Discover received it.
What happens after you request closure
Once you have requested closure, Discover will stop accepting new deposits to the account. You can still withdraw money if there is a balance, though this is unusual since you should have emptied the account before requesting closure.
The account will appear as closed in your online dashboard, usually within one business day. However, it may take a few more business days for Discover's internal systems to fully process the closure. If you need to confirm the account is closed, you can call customer service and they will verify it for you.
After the account closes, you will no longer receive statements for it. If you had automatic transfers set up to or from this account, those will stop. If you have a Discover checking account linked to the savings account, closing the savings account does not affect the checking account — it will remain open and active.
If you want to reopen the account later
Discover allows you to reopen a closed savings account within a certain window, though the exact timeframe varies. If you close your account and then change your mind within a few months, call customer service and ask if they can reopen it. They may be able to do this without requiring you to go through the full opening process again.
If too much time has passed, you can always open a new Discover savings account. There is no limit to how many accounts you can have, and opening a new one takes about ten minutes online.
Frequently Asked Questions
Will closing my Discover savings account affect my credit score?
Closing a savings account does not affect your credit score because savings accounts do not appear on your credit report. Only credit products like credit cards, loans, and lines of credit show up on your credit history. Closing a savings account is a straightforward account management action with no credit impact.
What if I have pending transactions when I close the account?
Wait for pending transactions to clear before you close the account. If you close while a transaction is still pending, it may fail or cause delays in the closure process. Check your recent activity in your online dashboard to make sure everything has posted, then request closure.
Can I close my account if I still owe Discover money?
If you have a negative balance or owe money on another Discover product like a credit card, you can still close your savings account. However, Discover may explore any remaining balance in the savings account to what you owe. Contact customer service to understand how they will handle this before you request closure.
How long does it take for the account to fully close?
Most accounts close within three to five business days after you request closure. You may see the account marked as closed in your dashboard within one business day, but Discover's internal processing can take a few days longer. If you need confirmation that the account is fully closed, call customer service after a week.
Do I need to close my account in person?
No. Discover is an online-only bank with no physical branches, so you cannot close an account in person. You must use phone, online, or mail. Phone is usually the fastest and most straightforward method.