Call Discover to close your account, withdraw your balance first, and confirm the closure in writing
Discover will close your savings account when you call their customer service line and request it. Before you call, withdraw all money from the account—Discover will not close an account that still holds funds. Once the balance is zero, call 1-800-347-2000 (the number on the back of any Discover card or statement) and tell the representative you want to close your savings account. They will process the closure immediately and send you written confirmation within a few business days.
The entire process takes one phone call and a few minutes of your time. You do not need to visit a branch or submit forms in advance. Discover has no early closure fee or penalty for closing a savings account, regardless of how long you have held it.
Key Takeaways
- Withdraw your full account balance before calling to close—Discover will not process a closure on an account with money in it.
- Call 1-800-347-2000 and request account closure; the representative will complete it during the call.
- Discover sends written confirmation of closure within a few business days; keep this for your records.
- There is no fee or penalty for closing a Discover savings account at any time.
- If you have a linked checking account or other Discover products, closing the savings account does not affect them.
Withdraw your money before you call
Discover requires your account balance to be zero before they will close it. Transfer or withdraw all remaining funds at least one business day before you plan to call. You can move money to another bank account via external transfer, request a check, or transfer it to another Discover account you own.
External transfers typically take one to three business days to complete. If you are in a hurry, request a check instead—Discover will mail it within five to seven business days. Once the money has left your Discover account and the balance shows zero, you are ready to call.
What to expect when you call customer service
When you reach a Discover representative, have your account number ready (it appears on your statements and in the Discover app). Tell them you want to close your savings account. They will verify your identity by asking security questions, confirm your account balance is zero, and then process the closure.
The representative will give you a confirmation number during the call. Write this down. They will also tell you that written confirmation will arrive by mail within a few business days. The entire call usually takes fewer than five minutes.
What happens to your account after closure
Once closed, you will no longer be able to log into that savings account through the Discover app or website. Any pending transfers or deposits will be rejected. If you have set up automatic transfers or bill payments from this account, those will stop working—cancel them beforehand if they are tied to other accounts.
Discover will report the closure to credit bureaus as an account closed by the customer. This does not harm your credit score. Your Discover checking account, if you have one, remains open and unaffected.
If you have linked accounts or automatic transfers
If you set up automatic transfers from your Discover savings account to pay bills or move money elsewhere, those transfers will fail once the account closes. Cancel any automatic transfers through your Discover account or through the other bank or service receiving the money.
If you have a linked Discover checking account, closing the savings account does not close the checking account. You can continue using your checking account normally. If you want to close both, you will need to make separate requests for each one.
Keep your written confirmation
Discover sends written confirmation of account closure by mail within a few business days of your call. This letter will include your account number, the closure date, and a confirmation number. Keep this document for your records for at least one year.
If you do not receive written confirmation within two weeks, call Discover again and reference the confirmation number from your original call. They can resend the letter or provide proof of closure over the phone.
Frequently Asked Questions
Can I close my Discover savings account online?
No. Discover does not offer online account closure through their website or app. You must call customer service at 1-800-347-2000 to close a savings account. This is a security measure to prevent unauthorized closures.
What if I still have money in the account when I call?
Discover will not close the account while it holds a balance. The representative will tell you to withdraw or transfer the funds first, then call back. You can do this immediately and call again the same day.
Is there a fee to close my account?
No. Discover charges no fee for closing a savings account. There is no penalty regardless of how long you have held the account or how recently you opened it.
What if I change my mind after closing?
Once closed, you cannot reopen the same account. You can open a new Discover savings account at any time, but it will have a different account number. There is no waiting period or penalty for opening a new account after closing one.
Will closing my account hurt my credit?
No. Closing a savings account does not affect your credit score. Discover reports it as a customer-initiated closure, which has no negative impact. Your credit is only affected by credit products like credit cards and loans.