You can close a Discover savings account by phone, online, or in writing — the fastest route is a phone call to their customer service line
Discover does not have physical branches, so you cannot walk in and close an account in person. Your options are calling 1-800-347-2000, logging into your online account and requesting closure through the message center, or sending a written request by mail. A phone call usually takes 10 to 15 minutes and closes the account the same day. Online requests typically process within one to three business days. Written requests take longer — usually five to seven business days after Discover receives your letter.
Before you close the account, make sure any pending deposits or transfers have cleared. If you have an outstanding balance (which is rare on a savings account but possible if you have overdraft protection linked to a checking account), you must pay it before closure. Discover will not close an account with a negative balance.
You do not need a reason to close the account, and Discover will not ask you to explain why. The process is straightforward once you have decided to go ahead.
Key Takeaways
- Call 1-800-347-2000 to close your account the same day; online closure takes one to three business days.
- Move or withdraw all your money before closing, because the account will no longer exist once the closure is complete.
- If you have a negative balance or pending transactions, Discover will not process the closure until those are resolved.
- You will receive written confirmation of the closure by mail within one to two weeks.
What to do with your money before closing
Discover will not transfer your balance to another bank as part of the closure process. You must move the money yourself before the account closes. You have three options: withdraw the funds in cash at an ATM, transfer the money to another bank account you own, or request a check from Discover.
If you use an ATM, check Discover's network first — they participate in the Allpoint and MoneyPass networks, which means you can withdraw from thousands of ATMs without a fee. If you withdraw from an out-of-network ATM, Discover charges $2.50 per transaction. For larger amounts, a transfer to another bank account is usually faster and cheaper. You can set this up through Discover's online platform or by phone; transfers typically arrive within one to three business days.
If you want a check, call customer service and request one. Discover will mail it to the address on file. This takes the longest — usually five to seven business days for the check to arrive, plus however long your bank takes to clear it.
How to close by phone
Call 1-800-347-2000 and tell the representative you want to close your savings account. Have your account number ready, though the representative can look it up with your Social Security number or the phone number associated with the account. They will ask you to confirm your identity by answering security questions or providing other verification information.
The representative will confirm that your account balance is zero (or that you have moved all your money). If you have not yet transferred your funds, they will walk you through the options. Once everything is clear, they will process the closure when ready. The account will be closed the same day, though it may take one to two business days for the closure to show in your online account.
Ask the representative for a confirmation number before you hang up. Write it down. You will receive written confirmation by mail, but the confirmation number gives you proof of the request if you need it.
How to close online
Log into your Discover account at discover.com. Go to the account settings or help section — the exact location varies depending on whether you are using the website or the mobile app. Look for an option labeled "Close Account" or "Account Services." Click it and follow the prompts.
Discover will ask you to confirm your identity and verify that your account balance is zero. If you have not yet moved your money, the online system will show you your balance and may not let you proceed until it is cleared. Once you confirm, submit the request. You will receive an on-screen confirmation and an email confirmation within a few minutes.
The account will close within one to three business days. You will receive a written confirmation letter by mail. Check your email and your Discover account over the next few days to make sure the closure went through.
How to close by mail
Write a letter to Discover requesting account closure. Include your full name, account number, the current balance (or confirm it is zero), and the date. Keep the letter brief — one paragraph is enough. Sign it and mail it to Discover's mailing address. You can find the current address on the back of your Discover card or on their website under "Contact Us."
Send the letter by regular mail or certified mail. Certified mail costs a few dollars more but gives you proof that Discover received it, which is useful if there is a delay. Discover will process the request within five to seven business days of receiving it. You will receive written confirmation by mail.
This method is the slowest and leaves the most room for mail delays, so use it only if you cannot call or access your online account. If you do use mail, keep a copy of your letter for your records.
What happens after your account closes
Once the account is closed, you cannot use it anymore. Any automatic transfers or bill payments linked to this account will fail. If you have set up direct deposit to this account, you need to update that information with your employer or the organization sending the deposit — otherwise the money will be rejected.
Discover will report the closure to the credit bureaus. This will not hurt your credit score; closed accounts in good standing remain on your credit report for up to 10 years and actually help your credit history by showing you managed the account responsibly. If the account was closed with a negative balance or after a dispute, it may be reported differently, but this is rare.
Keep any statements or records from the account for at least three to seven years, depending on your tax situation and whether you used the account for business purposes. You can read statements from your Discover account before closing it, or request copies by mail after closure.
If you change your mind after closing
If you close your account and then realize you made a mistake, you have a short window to reopen it. Call 1-800-347-2000 when ready and ask whether the account can be reopened. Discover can usually reopen an account within 24 hours of closure if you call right away. After that, reopening becomes more difficult and may require a new process.
If the account has been closed for more than a few days, you will likely need to open a new account instead. The new account will have a different account number, and any pending transactions or transfers linked to the old account number will not carry over.
Frequently Asked Questions
Will closing my Discover savings account hurt my credit?
No. Closing a savings account does not affect your credit score because savings accounts are not reported to credit bureaus. Only credit products like credit cards, loans, and lines of credit appear on your credit report. The closure will not show up on your credit history at all.
What if I have a pending deposit or transfer when I try to close?
Discover will not close the account until all pending transactions clear. Wait for the deposit or transfer to complete, then request closure. This usually takes one to three business days. If a transfer is taking longer than expected, contact the other bank to confirm it was sent correctly.
Can I close my account if I have overdraft protection linked to a checking account?
Yes, but you must pay any negative balance first. If the savings account is linked to a Discover checking account as overdraft protection, make sure the checking account has enough funds to cover any overdraft before you close the savings account. Once the balance is zero, you can proceed with closure.
Do I need to close my Discover checking account too?
No. Your savings and checking accounts are separate. You can close one without closing the other. If you want to close both, you can do so in the same phone call, but it is not required.
What if Discover lost my closure request?
If you called and received a confirmation number, use that number to follow up. Call 1-800-347-2000 and reference the confirmation number — the representative can look up the request and confirm it was processed. If you mailed a letter and have not heard back after 10 business days, call customer service with your account number and ask them to check whether the request was received.