Yes, you can open a Chase savings account entirely online
You can start and finish a Chase savings account process on your computer or phone without visiting a branch. The process takes about 10 minutes, and you'll have an account number the same day. You'll need a Social Security number, a valid ID, and a way to fund the account—either a debit card, another bank account, or a transfer from an existing Chase account.
Chase offers several savings products online: the regular Chase Savings Account, the Chase High Yield Savings Account (which pays a higher interest rate), and Chase Money Market accounts. All three can be opened through their website or mobile app. The main difference is the interest rate you earn and any minimum balance requirements, which change based on current market conditions.
Key Takeaways
- You need a Social Security number, valid government ID, and proof of current address to open a Chase savings account online.
- Funding options include a debit card, another bank account via ACH transfer, or moving money from an existing Chase account.
- Your account number and routing number appear when ready after approval, so you can start using the account the same day.
- Chase may place a temporary hold on your first deposit while they verify your identity, which typically clears within one to three business days.
- If you're denied, Chase will send you a letter explaining why, and you can reapply after addressing the issue.
What documents and information you'll need
Have these items ready before you start: your Social Security number, a valid government-issued ID (driver's license, passport, or state ID), and your current address. Chase will ask you to confirm your address during the process, and they may ask for a utility bill or lease if the address on your ID is outdated.
You'll also need to choose how to fund the account. If you're using a debit card, have the card number and expiration date ready. If you're transferring from another bank, you'll need the routing number and account number from that bank. If you already have a Chase account, you can transfer between your own accounts without any additional information.
The step-by-step process on Chase's website or app
Go to Chase.com and click "Open an Account" or use the Chase mobile app and select "Open a New Account." Choose the type of savings account you want—the regular savings account, high yield savings account, or money market account. Each page shows the current interest rate and any minimum balance requirements.
Enter your personal information: name, date of birth, Social Security number, and current address. Chase will ask whether you're a new customer or an existing Chase customer. If you're existing, you may be able to skip some steps because Chase already has your information on file. Next, choose your funding method and enter the details. If you're using a debit card, enter the card number and expiration date. If you're transferring from another bank, enter that bank's routing number and your account number there.
Review the account terms and disclosures, then submit. Chase will tell you when ready whether you're approved. If approved, your account number and routing number appear on screen right away. Write these down or take a screenshot—you'll need them to set up direct deposit or transfers.
What happens after you submit your process
Chase runs a background check and verifies your identity using information from credit bureaus and public records. This usually takes a few minutes, and you'll see the result before you finish the process. If you're approved, your account opens when ready and you can log in to your Chase account online or through the app.
Your first deposit may be held for one to three business days while Chase completes identity verification. This is standard practice across banks and is not a sign of a problem. You can still see the deposit in your account during this hold period—it just won't be available to withdraw until the hold clears. After that, deposits and transfers work normally.
If your process is denied or pending
Chase will tell you on the spot if you're denied. Common reasons include a mismatch between the information you entered and what's in their system, a history of overdrafts or fraud at another bank, or an issue with ChexSystems (a banking history report that tracks account closures and disputes). Chase will send you a letter within a few days explaining the specific reason.
If you're denied, you can reapply after you've fixed the problem. If the issue was a data mismatch, correct your address or phone number and try again in a few days. If it was a ChexSystems report, you can request a copy from ChexSystems directly and dispute any errors. If it was a history of overdrafts, wait a few months and reapply—banks are more likely to approve you once the negative history ages.
Occasionally Chase will put your process in "pending" status instead of approving or denying when ready. This means they need more information. Check your email for a message from Chase asking for documents like a utility bill or a copy of your ID. Respond within the timeframe they give you, usually 10 days.
Funding your account after it opens
Once your account is open, you can add money in several ways. You can transfer from another bank using ACH (which takes one to three business days), transfer from another Chase account (which is when ready), or deposit a check using Chase's mobile app (which takes one to two business days). You cannot deposit cash online, but if you have a Chase branch nearby, you can deposit cash there once your account is set up.
If you set up direct deposit from your employer, your paycheck will go directly into the account. You'll need to give your employer your Chase account number and routing number, which you can find in your Chase app or online banking portal.
Interest rates and account features
Chase's regular savings account earns a small amount of interest, which changes based on Federal Reserve decisions. The Chase High Yield Savings Account earns a higher rate. Both accounts let you make up to six transfers or withdrawals per month without a fee (this is a federal rule, not a Chase rule). After six, Chase charges a fee per transaction.
Chase does not charge a monthly maintenance fee on either savings account. There is no minimum balance requirement to open, though some accounts may have a minimum to earn the advertised interest rate—check the current terms when you open.
Frequently Asked Questions
Can I open a Chase savings account if I don't have a Social Security number?
No. Chase requires a Social Security number or ITIN (Individual Taxpayer Identification Number) to open any account. If you have an ITIN, you can use that instead. If you don't have either, you'll need to obtain one before opening an account.
What if I don't have a valid ID?
You need a government-issued ID to open an account online. If you don't have a driver's license or passport, you can get a state ID card from your state's DMV. Once you have one, you can complete the online process.
How long does it take to get my account number?
Your account number appears on screen when ready after approval. You can use it right away to set up transfers or direct deposit. Your debit card (if you order one) arrives by mail in five to seven business days.
Can I open a savings account if I've been denied before?
Yes, but only after you've addressed the reason for the denial. If it was a ChexSystems issue, dispute any errors and wait. If it was incomplete information, correct it and reapply. Chase will tell you the specific reason in the denial letter.
Do I need an existing Chase account to open a savings account online?
No. You can open a savings account as a brand-new customer. If you already have a Chase checking account, the process is slightly faster because Chase already has your information, but it's not required.