The three ways to transfer money from Discover
You can move money out of a Discover savings account in three ways: transfer it to another bank account you own, send it to someone else's account, or withdraw it as cash. The method you choose depends on where the money needs to go and how fast you need it to arrive.
Discover offers internal transfers (moving money between your own Discover accounts), external transfers (moving money to accounts at other banks), and cash withdrawals (taking money out at an ATM or in person). Each has different timing and requirements.
The most common route is an external transfer to another bank account. This takes one to three business days and requires you to provide the receiving account's routing number and account number. You can set this up through the Discover website, the mobile app, or by phone.
Key Takeaways
- Internal transfers between your own Discover accounts happen the same day or next business day, while transfers to other banks take one to three business days.
- To transfer to another bank, you need the receiving account's routing number and account number, which you can find on a check or by contacting that bank.
- Discover does not charge fees for outgoing transfers, but the receiving bank may charge a fee on their end.
- You can set up one-time transfers or recurring transfers through the Discover website, app, or by calling customer service at the number on the back of your card.
Setting up a transfer through the Discover website or app
Log into your Discover account online or open the mobile app. Look for the "Transfers" or "Move Money" section, usually found in the main menu or under account settings. Select "Transfer Money" and choose whether you are transferring to another Discover account you own or to an external bank account.
If this is your first transfer to that external bank, Discover will ask you to add the receiving account. You will need the account holder's name, the receiving bank's routing number, and the account number. The routing number is a nine-digit code specific to each bank branch; you can find it on a check, on your bank's website, or by calling the bank directly.
Enter the amount you want to transfer and choose the date. Discover will show you when the money should arrive. Review the details and confirm. The transfer is now scheduled. If you set it for today and it is a business day before the cutoff time (usually 5 p.m. Eastern), it may process the same day; otherwise it will process on the next business day.
Transferring money by phone
Call the customer service number on the back of your Discover card. Tell the representative you want to transfer money out of your savings account. They will ask whether you are transferring to another Discover account or to an external bank.
For external transfers, have the receiving account's routing number and account number ready. The representative will verify your identity, confirm the amount and receiving account details, and process the transfer. Phone transfers follow the same timeline as online transfers: same-day or next-business-day for internal transfers, one to three business days for external transfers.
This method is useful if you do not have online access or prefer to speak with someone, but it is slower than using the website or app because you have to wait for a representative to be available.
How long transfers actually take
Transfers between your own Discover accounts (for example, from savings to checking) post the same business day or the next business day, depending on when you initiate the transfer. Transfers to accounts at other banks take longer because the money has to move through the banking system.
Most external transfers arrive within one to three business days. The exact timing depends on the receiving bank's processing speed. Some banks post transfers when ready; others hold them for a day or two. Weekends and federal holidays do not count as business days, so a transfer initiated on Friday afternoon may not arrive until Tuesday or Wednesday.
Discover will show you an estimated arrival date when you schedule the transfer. If the money does not arrive by that date, contact Discover customer service with the transfer confirmation number (which you receive when you complete the transfer).
Adding a new external bank account for the first time
The first time you transfer to a bank account outside Discover, the system requires you to verify that you own the receiving account. This is a security step to prevent sending money to the wrong place.
Discover offers two verification methods. The faster method is when ready verification, which uses information you provide (your name, the account number, and the routing number) to confirm ownership. This usually works within minutes. The slower method is micro-deposit verification, where Discover sends two small deposits (usually under $1 each) to the receiving account. You then log into that account, find the deposit amounts, and enter them into Discover to confirm you have access. This method takes three to five business days.
Once the account is verified, you can transfer to it as many times as you want without repeating the verification process.
Withdrawing cash from your Discover savings account
Discover is an online bank and does not have physical branches where you can walk in and withdraw cash. However, you can withdraw money at ATMs using your Discover debit card if you have one linked to your savings account.
Discover offers surcharge-free ATM access through the Allpoint network, which includes over 55,000 ATMs worldwide. You can find participating ATMs through the Discover website or app. Withdrawals at Allpoint ATMs are free; withdrawals at other ATMs may charge a fee, which Discover will refund to your account within one to three business days.
If you do not have a Discover debit card, you can transfer money to a checking account at another bank and withdraw from there, or you can request a check from Discover (which takes five to seven business days to arrive).
Recurring transfers and automatic payments
If you need to move money regularly—for example, to cover a monthly bill or to save a set amount each week—you can set up a recurring transfer instead of doing it manually each time.
In the Discover app or website, select "Set Up Recurring Transfer" and choose the amount, frequency (weekly, biweekly, monthly, or custom), and start date. The transfer will repeat on that schedule until you cancel it. You can change or cancel a recurring transfer at any time through your account settings.
Recurring transfers are useful for automating savings goals or paying a regular bill, but they do not replace setting up a bill payment through your bank or the company you are paying. If you are paying a utility or credit card bill, use that company's bill payment system instead, because it ensures the payment reaches the right account on time.
Frequently Asked Questions
Can I transfer money out of my Discover savings account on a weekend?
You can schedule a transfer on a weekend through the website or app, but it will not process until the next business day. If you schedule it for Saturday, it processes Monday (unless Monday is a federal holiday). The receiving bank then takes one to three additional business days to post it.
What if I enter the wrong routing number or account number?
The money will go to the wrong account. Discover cannot recover it for you. Before you confirm a transfer, double-check the routing number and account number against a check or your bank statement. If you make a mistake, contact the bank that received the money and ask them to return it; they are not required to do so.
Does Discover charge a fee to transfer money out?
Discover does not charge fees for outgoing transfers. However, the receiving bank may charge a fee if you are transferring into an account type that has incoming transfer limits or restrictions. Check with that bank before you transfer.
How many transfers can I make from my Discover savings account?
Discover does not limit the number of transfers you can make. You can transfer as often as you want. There are no monthly caps or restrictions on how many times you move money out.
Can I transfer money to someone else's bank account?
Yes, but Discover will ask you to verify that you own the receiving account before the first transfer goes through. Once verified, you can transfer to that account repeatedly. If the account is not in your name, you will need to provide the account holder's name and their permission.