How to close your Discover savings account
You can close a Discover online savings account by calling Discover Bank's customer service at 1-800-347-2000, logging into your account online and requesting closure through the website, or visiting a Discover branch if one is near you. Discover does not charge a fee to close the account. Before you close, withdraw or transfer any remaining balance—Discover will not hold funds after the account closes, and you need to decide where that money goes.
The closure typically takes effect within one to three business days after you request it. You will receive written confirmation by mail. If you have pending transactions or scheduled transfers, those may process before the account fully closes, so check your account activity in the days after you submit your request.
Key Takeaways
- Call 1-800-347-2000 or log into your Discover account online to request closure—there is no fee and no waiting period.
- Move your money out before closing: transfer it to another bank account or withdraw it, because Discover will not hold funds after the account closes.
- The account closes within one to three business days, and you will receive written confirmation in the mail.
- Any pending transactions or automatic transfers may still process after you request closure, so monitor your account for a few days.
- If you have a linked Discover checking account, closing the savings account does not affect the checking account unless you close both.
Withdraw or transfer your money first
Before you submit a closure request, move all money out of the account. You can transfer funds to another bank account you own, withdraw cash at an ATM using your Discover debit card (if you have one), or request a check from Discover. The transfer or withdrawal should complete within one to two business days.
If you leave money in the account when it closes, Discover will not hold it. You will need to contact Discover after closure to retrieve any remaining balance, which adds unnecessary steps. Moving the money yourself before closing is faster and clearer.
Close the account by phone, online, or in person
By phone: Call Discover customer service at 1-800-347-2000. A representative will confirm your identity, verify that the account balance is zero, and process the closure request. The call usually takes five to ten minutes. Ask for written confirmation of the closure date before you hang up.
Online: Log into your Discover account at discover.com. Go to the account settings or profile section—the exact menu path varies, but look for "Close Account" or "Account Services." Follow the prompts to request closure. You will see a confirmation number on screen; write it down or take a screenshot.
In person: If you live near a Discover branch, you can close the account there. Bring a government-issued ID. Branch hours and locations are listed on discover.com. This option is slower than phone or online if you have to travel, so it is most useful if you are already nearby.
What happens to pending transactions and automatic payments
If you have automatic transfers or bill payments scheduled to or from the account, they may still process for a few days after you request closure. Check your account activity for three to five business days after you submit the closure request to make sure no unexpected charges post.
If an automatic payment tries to process after the account is closed, it will fail and the merchant or biller will receive a rejection notice. You may then owe that bill through another method, so contact any billers you were paying from this account and give them a new payment method before you close.
Confirm closure in writing
Discover will mail you a written confirmation of the account closure within one to two weeks. Keep this letter for your records. It shows the closure date and confirms that the account is no longer active. If you do not receive confirmation within three weeks, call 1-800-347-2000 and ask for a copy.
If you need proof of closure sooner—for example, to show a creditor or for tax records—ask the phone representative to email or mail it to you marked "urgent," or ask if they can provide a reference number you can cite if questions arise later.
Closing a linked Discover checking account
If you have both a Discover savings account and a Discover checking account, closing one does not close the other. You must request closure for each account separately. If you want to close both, call customer service and ask them to close both accounts in the same call so they can confirm the process for each one.
If you have automatic transfers set up between the two accounts, those will fail after the savings account closes. Update any transfers or bill payments that depend on the savings account before you close it.
What to do if you change your mind
If you request closure but change your mind within one to three business days before the account actually closes, call 1-800-347-2000 immediately and ask to cancel the closure request. Discover can usually stop the process if you call before the account is fully closed. After the account is closed, you cannot reopen it—you would have to open a new account instead.
If you closed the account and want to bank with Discover again, opening a new savings account takes about five to ten minutes online or by phone. There is no penalty for having closed an account previously.
Frequently Asked Questions
Does Discover charge a fee to close my savings account?
No. Discover does not charge any fee to close a savings account. There is no early closure penalty or administrative charge, regardless of how long you have held the account or how much money was in it.
What if I have a negative balance when I try to close?
If your account is overdrawn, you must pay the negative balance before Discover will close the account. Call 1-800-347-2000 and ask how much you owe, then transfer or deposit that amount. Once the balance is zero or positive, you can proceed with closure.
Can I close my account if I have a pending direct deposit?
Yes, but the direct deposit will fail if it tries to post after the account closes. Contact your employer or the organization sending the deposit and provide them with a new account number before you close. This prevents the deposit from bouncing and you having to track down the money.
How long does it take for the account to fully close?
The account closes within one to three business days after you request it. You will receive written confirmation by mail within one to two weeks. During those first few days, monitor your account to make sure no unexpected transactions post.
What if I forgot to transfer money out before closing?
Call 1-800-347-2000 right away and explain the situation. Discover can sometimes retrieve funds from a recently closed account, but the process is slower and requires additional verification. It is much faster to move the money before you close.