How to Close a Discover Savings Account
You can close a Discover savings account by calling Discover customer service at 1-800-347-2000, logging into your online account and requesting closure through the message center, or visiting a Discover branch if one is near you. Discover will process the closure within one to three business days. Before you close, withdraw any remaining balance or request that Discover send it to another bank account you specify. If your account has a negative balance, you must pay it before closure is complete.
Closing an account is straightforward, but the timing matters — especially if you have pending deposits or automatic transfers. Understanding what happens to your money and what Discover needs from you will prevent delays.
Key Takeaways
- Call Discover at 1-800-347-2000 or use your online account to request closure; the process takes one to three business days.
- Withdraw your full balance before closing, or tell Discover which account to transfer the funds to.
- If your account is overdrawn, you must pay the negative balance before Discover will close it.
- Stop any automatic transfers or bill payments linked to the account at least a few days before closure to avoid failed transactions.
- Discover will send you written confirmation of the closure; keep this for your records.
Withdraw or Transfer Your Money Before Closing
Your first step is to move money out of the account. You have two options: withdraw the full balance yourself, or ask Discover to transfer it to another bank account.
If you want to withdraw in person, visit a Discover branch during business hours and bring your ID and account number. If you prefer to move the money electronically, log into your Discover account online and set up an external transfer to a checking or savings account at another bank. This transfer typically takes one to three business days. Alternatively, you can call Discover and provide the receiving bank's routing number and your account number there; a representative will initiate the transfer for you.
Do not leave money in the account when you close it. Discover will not close an account with an active balance until the funds are removed or transferred out.
Pay Any Negative Balance
If your account is overdrawn — meaning you owe Discover money — you must settle that debt before closure. This can happen if you withdrew more than your balance or if fees were charged.
Call Discover at 1-800-347-2000 and ask the representative how much you owe and how to pay it. You can pay by debit card, bank transfer, or check. Once the negative balance is paid in full, you can proceed with closing the account.
Cancel Automatic Transfers and Bill Payments
If you have set up automatic transfers from this savings account to another account, or if any bills or subscriptions are set to withdraw from it, stop those transactions before you close the account. Discover will not process transfers or payments from a closed account, and you may face failed payment fees or service interruptions.
Log into your Discover account online and review the "Transfers" and "Bill Pay" sections. Cancel any recurring transactions at least three to five business days before you plan to close the account. If you are unsure which transactions are linked to this account, call Discover and ask a representative to review them with you.
Request Closure by Phone, Online, or In Person
Once your balance is zero and automatic payments are stopped, you can request closure. The fastest method is usually by phone.
By phone: Call Discover at 1-800-347-2000. A representative will confirm your identity, verify that your balance is zero, and process the closure request. The call typically takes five to ten minutes. Ask the representative for a reference number for your records.
Online: Log into your Discover account, go to "Contact Us" or "Help," and select the option to close your account. You may be asked to confirm your request via email or phone before closure is finalized.
In person: If there is a Discover branch near you, visit during business hours with your ID and account number. A branch representative can close the account on the spot.
What Happens After You Request Closure
Discover will process your closure request within one to three business days. During this time, the account remains open but inactive. You will not be able to make new deposits or transfers, but any pending transactions may still post.
Once closure is complete, Discover will send you written confirmation by mail. This letter will include the closure date and your final account balance. Keep this confirmation for your records, especially if you are closing the account to move to a different bank.
If you have any outstanding checks or pending deposits, they may still clear after the account is closed. Discover will honor checks written before closure, so make sure you have transferred enough money to cover them, or contact Discover to delay closure until those checks clear.
Reasons You Might Want to Close Your Account
People close Discover savings accounts for different reasons. You may have found a savings account elsewhere with a higher interest rate, or you may be consolidating accounts at a single bank. Some people close accounts they no longer use to simplify their finances and reduce the number of statements they receive.
Before you close, consider whether you want to keep the account open but inactive. An inactive account does not cost you anything, and you can reopen it later if you change your mind. However, if you are certain you will not use it again, closing it is a clean way to move forward.
Frequently Asked Questions
Can I reopen a Discover savings account after I close it?
Yes, you can open a new Discover savings account at any time. However, if you closed the account due to a dispute or fraud, Discover may review your history before allowing you to open a new one. Contact Discover directly if you want to know whether you can reopen an account.
What if I close my account but a check I wrote hasn't cleared yet?
Discover will still honor checks written before closure, as long as the funds are available. If you are worried about a pending check, contact Discover before you close the account and ask them to hold the closure until the check clears. Alternatively, make sure you transfer enough money to cover the check before closing.
Will closing my Discover savings account affect my credit score?
No. Closing a savings account does not affect your credit score because savings accounts are not reported to credit bureaus. Only credit products like credit cards and loans appear on your credit report.
How long does it take to receive my money after I request a transfer?
External transfers from Discover to another bank typically take one to three business days. If you request the transfer on a Friday, it may not arrive until the following Tuesday or Wednesday. Plan ahead if you need the money by a specific date.
What if I forgot to cancel a bill payment before closing my account?
If a bill payment tries to process after your account is closed, it will fail. Contact the company or service that was set to withdraw from your account and update your payment method to a different account. You may also need to contact Discover to explain the situation if you are charged a fee for the failed transaction.