You can close a Discover savings account by phone, online, or by mail — and you don't need a reason
Discover lets you close your savings account in three ways: by calling their customer service line, through your online account, or by sending a written request by mail. You won't need to explain why you're closing it. Before you close, make sure you've withdrawn or transferred all your money — Discover will close the account once it reaches zero balance, and any remaining funds may be held or returned to you by check, which takes time.
The process itself is straightforward and usually takes a few minutes by phone or a few days if you do it online or by mail. There's no penalty for closing early, and no minimum balance requirement to keep the account open while you're in the process. If you have automatic deposits or payments linked to this account, you'll want to update those before closing so money doesn't try to go somewhere that no longer exists.
Key Takeaways
- Call Discover at their customer service number, log into your online account, or mail a written request to close your savings account.
- Withdraw or transfer all money from the account before closing, since Discover will not keep the account open for a zero balance.
- Update any automatic deposits or bill payments linked to this account so they don't fail after you close it.
- There is no early closure fee or penalty, and the process takes minutes by phone or a few business days by mail or online.
- If money remains in the account after closure, Discover will send it to you by check, which can take several weeks.
Closing by phone is the fastest method
Call Discover's customer service number — you'll find it on the back of your debit card, in your account statements, or on the Discover website. Have your account number ready. A representative will confirm your identity, ask a few verification questions, and process the closure right away. The call usually takes 5 to 10 minutes.
The representative may ask why you're closing the account or offer to address any concerns, but you don't have to answer. If you have a remaining balance, ask whether they'll transfer it to another account you provide or send it by check. Confirm the mailing address they have on file if they're sending a check, since that's where the money will go.
Closing online through your Discover account
Log into your Discover account on their website or mobile app. Look for account settings, account management, or a similar menu option — the exact location varies depending on which version of their site or app you're using. Some accounts let you close directly from there; others will show a "Contact Us" option that lets you request closure through a find message.
If you submit a request online, Discover typically responds within one to two business days. They may ask you to confirm your request or provide additional information. Once confirmed, the account closes, but any remaining balance will be processed as described above — usually by check to your mailing address.
Closing by mail if you prefer written confirmation
Write a letter to Discover requesting closure of your savings account. Include your full name, account number, the date, and a clear statement that you want to close the account. You don't need to explain why. Sign the letter and mail it to Discover's mailing address — you'll find this on their website or by calling customer service.
Keep a copy for your records. Closure by mail takes longer — typically one to two weeks for Discover to receive and process your letter, plus additional time if they need to send you a check. For this reason, phone or online closure is usually faster if you're in a hurry.
What to do with your money before closing
Before you close the account, move all your money out. You can transfer it to another bank account you own — either at Discover (if you have a checking account there) or at another bank. You can also withdraw it as cash at an ATM if your Discover card works at ATMs in your area, though large withdrawals may require advance notice.
If you leave money in the account when you close it, Discover will process it after closure. They typically send remaining balances by check to the address on file, and this can take several weeks. It's simpler and faster to move the money yourself before you close.
Update automatic deposits and payments first
If you have direct deposits going into this account — such as paychecks or government benefits — contact your employer or the organization sending the money and provide them with a new account number at another bank. This usually takes a few business days to process.
Similarly, if you have automatic bill payments or transfers set up from this account, log into those services and update them to pull from a different account. If you don't update these before closing, the payments will fail, which could result in late fees or service interruptions. Give yourself at least a week to make these changes before you close the account.
After your account is closed
Once Discover closes your account, you won't be able to use the debit card associated with it. If you have other Discover accounts (such as a checking account), those remain open and unaffected. Destroy your old debit card by cutting it up or shredding it — don't throw it away intact.
If you had a remaining balance and Discover sent you a check, deposit it at your new bank as soon as you receive it. Keep your closure confirmation — whether it's an email, a letter, or a note from your phone call — in case you ever need to prove the account was closed on a specific date.
Frequently Asked Questions
Will closing my Discover savings account hurt my credit?
No. Closing a savings account does not affect your credit score. Credit scores are based on borrowing and repayment history, not on savings accounts. You can close a savings account without any impact on your credit.
What if I have a negative balance or owe Discover money?
Contact Discover when ready before attempting to close. If your account is negative, you'll need to pay the balance first. Discover will not close an account with an outstanding debt, and the account may be sent to collections if left unpaid.
Can I reopen a Discover savings account after I close it?
Yes, you can open a new Discover savings account at any time. However, Discover may review your banking history, and if there were issues with the previous account, they may decline. There's no waiting period — you can open a new account the same day you close the old one if you choose.
How long does it take to receive a check if I have a remaining balance?
Discover typically mails checks within one to two weeks of closure. Delivery time depends on your location and the postal service, so allow an additional week or two for the check to arrive. If you don't receive it within three weeks, contact Discover to confirm they have the correct mailing address.
Do I need to close my account in person at a branch?
Discover is an online bank and does not have physical branches. You must close your account by phone, online, or by mail. There is no option to close in person.