What you need to open a Chase savings account

You can open a Chase savings account in person at a branch, online through Chase.com, or by phone. The process takes about 15 to 20 minutes. You will need a valid government-issued photo ID (a driver's license, passport, or state ID card), your Social Security number, and an initial deposit — the amount varies by account type, but some Chase savings accounts require as little as $0 to open.

Chase also asks for a current mailing address and a phone number. If you are opening an account online or by phone, you will need an email address too. You do not need to have an existing Chase account, though if you already bank with Chase, the process is faster because they have your information on file.

Before you start, decide whether you want to open the account in person or online. In-person is better if you have questions or prefer to hand over documents face-to-face. Online is faster if you have all your information ready and want to finish from home.

Key Takeaways

  • You need a photo ID, Social Security number, and an initial deposit to open a Chase savings account, though some accounts have no minimum deposit requirement.
  • Chase offers several types of savings accounts with different interest rates and features, so compare them before you open one.
  • You can open an account online, by phone, or in person at a Chase branch, and the process usually takes 15 to 20 minutes.
  • Once your account is open, you can deposit money by transferring from another bank, using a Chase ATM, or depositing a check through the Chase mobile app.

Opening an account online through Chase.com

Go to Chase.com and look for the "Open an Account" button, usually near the top of the page. Select "Savings" from the account type options. Chase will ask you to choose which savings account you want — they offer several versions with different interest rates and features, so read the descriptions before you pick one.

Enter your personal information: name, date of birth, Social Security number, address, phone number, and email. Chase will ask whether you are a U.S. citizen and whether you have an existing Chase account. Answer honestly — these questions affect which accounts are available to you and how quickly the account opens.

Next, Chase will ask for your initial deposit amount and how you want to fund it. You can transfer money from another bank account (you will need the routing number and account number from that bank), or you can mail a check. If you transfer from another bank, the money usually arrives within one to three business days. After you submit everything, Chase will send you a confirmation email with your new account number.

Opening an account in person at a Chase branch

Find your nearest Chase branch using the branch locator on Chase.com. Bring your photo ID, Social Security number, and your initial deposit. You can bring a check, a debit card from another bank to transfer money, or cash.

Tell the person at the desk that you want to open a savings account. They will walk you through the same questions you would answer online — your name, address, Social Security number, and which type of savings account you want. They will enter your information into their system while you watch. The account opens when ready, and you can start using it the same day.

If you bring cash, the teller will deposit it right away. If you bring a check or want to transfer from another bank, ask the teller how long it will take to show up in your account. In-person opening is useful if you have questions about which account type fits your needs, because the staff can explain the differences.

Opening an account by phone

Call Chase customer service at 1-800-935-9935 and say you want to open a savings account. A representative will ask the same questions as the online form: your name, address, Social Security number, date of birth, and which savings account type you want.

You will need to provide your initial deposit information — either a bank account to transfer from (routing number and account number) or a mailing address where Chase can send you deposit instructions. Phone opening usually takes 10 to 15 minutes. After you hang up, Chase will send you a confirmation email with your account number and next steps.

Choosing between Chase savings account types

Chase offers at least two main savings accounts: the regular savings account and the high-yield savings account. The regular savings account has a lower interest rate but no minimum balance requirement. The high-yield savings account pays more interest but may have a higher minimum balance or require you to maintain a certain amount of money in the account.

Interest rates change, so check Chase.com for the current rates before you open an account. The difference between a regular and high-yield account can add up over time if you keep a large balance, but if you are just starting to save, either account works. Ask yourself: Do I want the highest interest rate possible, or do I prefer simplicity and no minimum balance? Your answer will point you toward the right account.

What happens after your account opens

Once your account is open, Chase will send you a debit card in the mail within 7 to 10 business days. You can use this card to withdraw money from Chase ATMs or to make purchases, though savings accounts are meant for saving rather than everyday spending.

You can also move money into your savings account by transferring from another bank account, depositing checks through the Chase mobile app, or visiting a branch to deposit cash. Set up online banking by going to Chase.com and creating a username and password — this lets you check your balance, transfer money, and see your interest earnings anytime.

Your savings account will earn interest automatically. Chase deposits the interest into your account monthly. The amount depends on how much money you keep in the account and what the current interest rate is.

Documents you might need later

Keep your account number, routing number, and initial confirmation email in a safe place. You will need the account number and routing number if you want to set up automatic transfers from another bank or if you need to give someone your banking information. Chase will also send you a monthly statement (or you can view it online) that shows your balance, deposits, interest earned, and any fees.

If you ever need to prove you have a savings account — for a loan, a job, or a government program — you can print your statement from online banking or ask Chase to send you an official letter. Keeping these documents organized now saves time later.

Frequently Asked Questions

Do I need an existing Chase checking account to open a savings account?

No. You can open a Chase savings account without having a checking account with them. However, if you already have a Chase checking account, the process is faster because Chase already has your information.

What is the minimum deposit to open a Chase savings account?

It depends on which account type you choose. Some Chase savings accounts have no minimum deposit, while others require $0 to $300 to open. Check the account details on Chase.com before you start, or ask a representative when you open the account.

How long does it take to open a Chase savings account online?

The process usually takes 15 to 20 minutes. Your account opens when ready, but if you transfer money from another bank, it may take one to three business days to arrive. Your debit card will arrive by mail within 7 to 10 business days.

Can I open a savings account if I do not have a Social Security number?

Chase requires a Social Security number or an Individual Taxpayer Identification Number (ITIN) to open an account. If you do not have either, ask a Chase representative about other options, as policies can vary.

What should I do if I forget my online banking password?

Go to Chase.com and click "Forgot Password" on the login page. Chase will send you a link to reset it by email. If you cannot access your email, call Chase customer service at 1-800-935-9935 and they can help you regain access to your account.