You can close a Discover savings account by phone, online, or in writing — the fastest route is a phone call to Discover customer service
Discover does not let you close an account through their website. You must either call 1-800-347-2683, send a written request by mail, or visit a Discover branch if one is near you. A phone call takes about 10 minutes and closes the account the same day. Before you call, decide what to do with any money in the account — Discover will ask where you want the balance sent.
You do not need a reason to close the account, and Discover will not charge you a fee to do it. If your account is in good standing (no overdrafts, no fraud holds), the process is straightforward. If there are pending transactions or holds on the account, Discover may delay the closure until those clear.
Key Takeaways
- Call Discover at 1-800-347-2683 to close your account; this is faster than mailing a request or visiting a branch.
- Have your account number and a destination for your balance ready before you call — Discover will transfer the money by check or ACH within 5 to 7 business days.
- Closing the account does not affect your credit score, but Discover will report the closure to credit bureaus.
- If you have a linked Discover checking account, closing the savings account does not close the checking account.
What to prepare before you call
Gather your account number before calling. You can find it on your Discover statements, in the Discover app, or on your debit card if you have one linked to the account. Have your Social Security number or tax ID ready as well — Discover will verify your identity before closing anything.
Decide where you want your balance sent. Discover offers two options: a check mailed to your address, or an ACH transfer to another bank account you own. If you choose ACH, have the routing number and account number of the receiving bank ready. ACH transfers usually arrive within 5 to 7 business days; checks take longer depending on mail and your bank's processing time.
If your account has pending transactions, ask Discover when they will clear. Do not close the account until pending items are done — closing an account with uncleared transactions can cause problems with those payments.
Closing by phone
Call 1-800-347-2683 during business hours. Discover's phone lines are open Monday through Friday, 8 a.m. to 10 p.m. Eastern time, and Saturday and Sunday, 9 a.m. to 5 p.m. Eastern time. Have your account number and ID ready.
Tell the representative you want to close your savings account. They will verify your identity, confirm your balance, and ask where you want the money sent. Once you confirm, the account closes immediately. You will receive a confirmation number — write it down or ask for it to be emailed to you.
After closure, you can no longer use the account for deposits or withdrawals. Any automatic transfers or bill payments linked to this account will fail, so update those before you close if you plan to keep banking with Discover.
Closing by mail
Write a letter to Discover requesting account closure. Include your full name, account number, the date, and your signature. State clearly that you want to close the account and specify where you want your balance sent — either a mailing address for a check or your bank details for an ACH transfer.
Mail the letter to Discover Bank, P.O. Box 15298, Wilmington, DE 19850-5298. Discover recommends sending it by certified mail so you have proof of delivery. Processing takes 7 to 10 business days from the date Discover receives your letter, plus time for the mail to arrive.
This method is slower than calling, but it creates a paper trail. Keep a copy of your letter and the certified mail receipt.
What happens after you close the account
Once closed, you cannot reopen the same account. If you change your mind later, you would have to open a new Discover savings account, which starts with a new account number and a new opening date.
Discover will report the closure to the three major credit bureaus (Equifax, Experian, and TransUnion). This does not hurt your credit score — closing an account is not a negative mark. However, it may slightly lower your average account age if this was one of your oldest accounts, and it reduces your total available credit, which can affect your credit utilization ratio.
If you have a Discover checking account, closing the savings account does not affect it. The two accounts are separate and will continue to operate independently.
If you have trouble closing the account
If Discover refuses to close the account or delays the closure, ask why. Common reasons include fraud holds, pending disputes, or uncleared transactions. Ask the representative for a specific date when the hold will lift, and call back on that date to close.
If you believe Discover is wrongfully refusing to close your account, file a complaint with the Consumer Financial Protection Bureau (CFPB) at consumerfinance.gov. The CFPB investigates complaints against banks and can pressure Discover to resolve the issue.
Frequently Asked Questions
Will closing my Discover savings account hurt my credit?
No. Closing an account is not a negative mark on your credit report. Discover will report the closure, but it does not lower your score. Your score may shift slightly if this account was very old or if closing it raises your credit utilization ratio, but the closure itself is neutral.
What if I have pending transactions when I close?
Wait until they clear before closing. Closing an account with pending transactions can cause those payments to fail or bounce. Ask Discover when pending items will settle, then call back to close after they do.
Can I reopen the same account after I close it?
No. Once closed, that account number is gone for good. You can open a new Discover savings account, but it will have a different account number and a new opening date. Your old account history will still appear on your credit report.
How long does it take to receive my balance after closing?
If you choose ACH transfer, 5 to 7 business days. If you choose a check, it depends on mail delivery plus your bank's processing time — usually 10 to 14 days total. Ask Discover for a tracking number if you choose ACH.
Do I need to close my Discover checking account too?
No. Closing the savings account does not close the checking account. They are separate. If you want to close both, you must request each closure separately.