Yes, you can open a Chase savings account entirely online
You can start a Chase savings account from your computer or phone without visiting a branch. The process takes about 10 minutes and requires a valid ID, Social Security number, and an initial deposit. Chase will verify your identity while you're online, and your account opens when ready — you can use it the same day.
The main requirement is that you must be at least 18 years old and a U.S. resident with a valid address. If you already have a Chase checking account, opening a savings account is even faster because Chase already has your information on file.
Key Takeaways
- You need a valid government ID, Social Security number, and an initial deposit to open a Chase savings account online.
- The account opens when ready after you complete the online process, and you can start using it the same day.
- If you already have a Chase checking account, you can link the new savings account to it for straightforward transfers.
- Chase offers different savings account types with different interest rates and minimum balance requirements, so compare them before you choose.
What you need before you start
Gather these items before you begin the online process. You'll need a valid government-issued ID — a driver's license, passport, or state ID card. Chase will ask you to verify information from it, so have it nearby when you sit down to open the account.
You'll also need your Social Security number and a current mailing address. Chase uses these to check your identity and to send you account statements and tax documents. If you've moved recently, make sure the address you provide is where you live now.
Finally, you'll need an initial deposit. The amount varies depending on which Chase savings account you choose — some have no minimum, while others require $300 or more. You can fund the account with a debit card, transfer from another bank account, or a check deposit through the Chase mobile app after your account opens.
The step-by-step process
Go to chase.com and look for the option to open a new account. You'll see different account types listed — Chase Savings, Chase Premier Savings, and Chase Sapphire Savings each have different features and interest rates. Read the details for each one and choose the account that fits your situation.
Click to open the account you've chosen. Chase will ask for your personal information: full name, date of birth, Social Security number, address, phone number, and email. Enter this information exactly as it appears on your ID — mismatches can slow down verification.
Next, Chase will verify your identity. You'll answer security questions based on your credit history, or Chase may ask you to take a photo of your ID using your phone or computer camera. This step usually takes a few minutes. Once verification is complete, you'll create your online banking username and password.
Then you'll choose how to fund the account. If you have another bank account, you can transfer money from it — this usually takes one to three business days. If you want to fund it when ready, use a debit card. After you finish these steps, your account is open and ready to use.
What happens after you open the account
Your savings account number appears on your screen as soon as the account opens. You can log into Chase.com or the Chase mobile app right away to see your account and make transfers. If you already have a Chase checking account, the two accounts will be linked automatically, so you can move money between them when ready.
Chase will mail you a debit card for your savings account within 7 to 10 business days, though you don't need it to use the account — you can withdraw money through ATMs, transfers, or by visiting a branch. Your first statement will arrive about 30 days after you open the account, either by mail or email depending on what you choose during setup.
Different Chase savings accounts and their differences
Chase offers three main savings accounts online, and they differ in interest rates and minimum balances. Chase Savings has no monthly fee and no minimum balance requirement, making it the simplest choice if you're new to banking. Chase Premier Savings requires a higher balance but pays a higher interest rate — the exact amounts change based on how much money you keep in the account. Chase Sapphire Savings is for customers who also have a Chase Sapphire credit card.
Interest rates on all three accounts change over time and vary based on the current market. When you open your account, Chase will show you the current rate for the account you're choosing. The rate you earn is the same whether you open online or in a branch.
Limits on how often you can withdraw
Federal rules limit how many times you can withdraw money from a savings account each month. Most banks, including Chase, allow six withdrawals per statement period — this includes transfers to another account, checks, and ATM withdrawals. After six withdrawals, Chase may charge a fee for each additional one, or they may temporarily freeze the account.
Deposits have no limit — you can add money to your savings account as many times as you want. If you need to withdraw money more than six times a month, talk to Chase about whether a money market account or checking account might work better for your situation.
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 Individual Taxpayer Identification Number (ITIN) to open any account. If you have an ITIN, you can use that instead. Contact Chase directly to discuss your specific situation.
What if I already have a Chase checking account?
Opening a savings account is faster because Chase already has your information. Log into your existing account, look for the option to open a new account, and follow the same online process. Your new savings account will link to your checking account automatically.
How long does it take to use the account after I open it?
Your account opens when ready and you can use it the same day to transfer money or set up automatic deposits. If you fund it with a transfer from another bank, that transfer may take one to three business days to arrive.
Do I have to keep a minimum balance in a Chase savings account?
Chase Savings has no minimum balance. Chase Premier Savings requires a higher balance to earn the advertised interest rate — the exact amount depends on your account tier. Check the details for the specific account you're opening.
Can I open an account for someone else online?
No, the person whose name is on the account must open it themselves and verify their own identity. If you want to open an account for a minor, you'll need to visit a Chase branch in person with the child and a valid ID.