You can close a Discover savings account by phone, online, or by mail — the fastest route is a phone call to their customer service line
Discover does not charge a fee to close a savings account, and you can do it without visiting a branch because Discover operates online only. You will need to decide what to do with any money in the account before you close it — Discover will not close the account if a balance remains. Once the account is closed, you lose access to that savings rate and any pending interest, though Discover will pay out accrued interest up to the closure date.
The process itself takes minutes on the phone or a few days if you use mail or their online message system. If you have automatic transfers or bill payments linked to the account, those will stop working once the account closes, so plan ahead if you use the account for regular deposits or withdrawals.
Key Takeaways
- You must withdraw or transfer all money from the account before Discover will close it — the account cannot close with a balance remaining.
- Calling Discover customer service is the fastest method and takes about 10 minutes; the phone number is on your statement or the Discover website.
- If you close the account online or by mail, the process may take several business days to complete.
- Any interest earned up to the closure date will be paid out, but you forfeit any interest that would have accrued after closure.
- Automatic transfers, direct deposits, and bill payments tied to this account will stop working once it closes.
Empty the account before you request closure
Discover will not process a closure request if money remains in the account. You have two options: transfer the balance to another bank account, or request a check from Discover. If you transfer electronically, the money usually arrives within one to three business days. If you request a check, allow five to seven business days for it to arrive by mail, plus time for you to deposit it elsewhere.
Log into your Discover account online to see your current balance and any pending deposits or interest payments. If you have automatic transfers scheduled — such as a weekly deposit from your paycheck or a monthly sweep to another account — cancel those before you request closure. Discover will not close the account until the balance is zero.
Close by phone (fastest method)
Call Discover customer service at the number on the back of your debit card, on your statement, or on the Discover website. Have your account number ready. Tell the representative you want to close your savings account. They will confirm your identity, verify that the account balance is zero, and process the closure immediately.
The call usually takes 5 to 10 minutes. Ask the representative to confirm the closure in writing — they may email you a confirmation or offer to mail one. Keep this confirmation for your records in case you need proof that the account was closed on a specific date. Once the call ends, the account is closed and you can no longer access it online.
Close online through your account dashboard
Log into your Discover account and look for account settings or account management options. Some banks place a "Close Account" link in the account details section; others require you to send a secure message through their online portal. If you cannot find the option, use the secure message feature to request closure and include your account number.
Discover will respond to your request within one to two business days. They will confirm that your balance is zero and process the closure. You will receive a confirmation message in your account or by email. This method is slower than calling but works if you prefer not to speak with a representative.
Close by mail if you have no online access
Write a letter to Discover requesting closure of your savings account. Include your full name, account number, and the date you want the account closed. Mail it to the address listed on your statement or the Discover website. Include a copy of your ID if this is your first written request to Discover.
Mail takes five to seven business days to arrive, and Discover may take another three to five business days to process your request. This method is the slowest and should only be used if you cannot call or access your account online. Keep a copy of your letter and note the date you mailed it.
What happens to your interest and pending transactions
Discover will pay any interest earned up to the closure date. This interest is usually deposited into the account a few days before closure, so you will see it in your final balance. Once the account closes, you stop earning interest — even if you close on the last day of a month, you do not earn interest for the next month.
If you have a pending deposit or transfer scheduled to arrive after you request closure, contact Discover to redirect it to another account or cancel it. Pending transactions may still process even after you request closure, which could delay the final closure date. Ask the representative or include this in your written request so Discover can flag the account and handle any incoming transfers correctly.
After your account is closed
Once closed, you cannot reopen the same account. If you want to save with Discover again in the future, you will need to open a new account. Your closed account will remain on your banking history, but you will have no access to it and cannot make deposits or withdrawals.
If you receive mail from Discover about this account after closure, it is usually just a final statement or confirmation. Do not ignore it — review it to make sure all transactions are accounted for and the closure was processed correctly. If you spot an error, call Discover immediately with your account number and the date of closure.
Frequently Asked Questions
Can I close my Discover savings account if I have a pending direct deposit?
No. You must wait for the deposit to arrive and clear, then withdraw or transfer the money before requesting closure. If you want to close before a scheduled deposit, contact your employer or the source of the deposit and redirect it to another account.
Will closing my Discover savings account affect my credit score?
No. Closing a savings account does not appear on your credit report and does not affect your credit score. Only credit accounts — credit cards, loans, lines of credit — impact your credit history.
What if I close my account and then want to reopen it?
You cannot reopen the same closed account. You would need to open a new Discover savings account, which is treated as a separate account with a new account number. The old account remains closed permanently.
How long does it take to receive my money after I request closure?
If you transfer the balance electronically before closure, the money reaches your other bank in one to three business days. If Discover mails you a check, allow five to seven business days for delivery plus time to deposit it. The account closure itself is immediate if you call, or one to five business days if you use mail or online messaging.
Can I close my account if I have overdraft protection linked to it?
You must cancel overdraft protection before closing the account. Contact Discover and ask them to remove overdraft protection, then wait for confirmation before requesting closure. This prevents any unexpected charges or holds on the account.