You can open a Chase savings account online, by phone, or in person at a branch, and you'll need an ID, Social Security number, and an initial deposit
Chase offers several types of savings accounts, each with different features and minimum balance requirements. The most common option for people new to banking is the Chase Savings Account, which lets you earn interest on money you set aside. You can start the process from your computer, by calling Chase, or by walking into any Chase branch. The whole thing usually takes 10 to 15 minutes if you go online, or about 20 minutes in person.
Before you start, gather three things: a government-issued ID (driver's license, passport, or state ID), your Social Security number, and money for your first deposit. Chase requires a minimum opening deposit that varies by account type — typically $25 to $100 for most savings accounts, though some specialty accounts ask for more. You don't need to have a checking account with Chase first; you can open a savings account on its own.
Key Takeaways
- You need a valid ID, Social Security number, and an opening deposit of at least $25 to $100 to start a Chase savings account.
- Online opening takes about 10 to 15 minutes and you can fund the account when ready with a debit card or bank transfer.
- In-person opening at a Chase branch takes about 20 minutes and lets you ask questions face-to-face before committing.
- Chase savings accounts earn interest on your balance, though the rate changes based on what the Federal Reserve does with interest rates.
- You can link your Chase savings account to a checking account later if you want to transfer money between them easily.
Opening online through Chase.com
Go to Chase.com and look for the "Open an Account" button, usually near the top of the page. You'll be asked to choose which type of account you want — select "Savings" if you're unsure. Chase will ask for your name, address, date of birth, and Social Security number. Have your ID ready because you may need to answer questions about information on it to verify who you are.
Next, you'll choose how much to deposit to start. You can fund the account with a debit card or by transferring money from another bank account. If you use a debit card, the money shows up when ready. If you transfer from another bank, it usually takes one to three business days. Once the deposit goes through, your account is active and you can start using it right away.
Chase will send you a debit card in the mail within 7 to 10 business days if you want one, though you don't need it to use a savings account — you can transfer money in and out online. You'll also get online banking access so you can check your balance, see how much interest you've earned, and move money around.
Opening in person at a Chase branch
Find your nearest Chase branch using the branch locator on Chase.com. Bring your ID, Social Security number, and the money for your opening deposit — you can bring cash, a check, or a debit card to fund it. A Chase employee will walk you through the account setup, answer any questions, and get everything set up while you wait.
Opening in person takes longer than online (usually 20 to 30 minutes) but gives you a chance to ask questions about how savings accounts work, what interest rates are, and whether a different account type might fit your situation better. If you're new to banking or prefer talking to a person, this is often the easier route. The employee can also set up online banking access on the spot so you can check your account from home.
Opening by phone with Chase customer service
Call Chase at 1-800-935-9935 to open a savings account over the phone. Have your ID and Social Security number ready, and know how much you want to deposit to start. A representative will ask the same questions as the online form and verify your identity by asking details from your ID.
Phone opening usually takes 15 to 20 minutes. The representative will explain your account options and answer questions before you commit. You'll need to fund the account after the call — they'll give you instructions on how to transfer money or send a check. This route works well if you have questions but prefer not to visit a branch.
What happens after you open your account
Once your account is open, you can deposit money by transferring it from another bank account, depositing a check through the Chase mobile app, or going to a branch with cash. Your money earns interest, which means Chase pays you a small percentage of your balance each month. The interest rate changes based on decisions the Federal Reserve makes, so it's not locked in forever.
You can withdraw money anytime through an ATM, by transferring it to another account, or by going to a branch. There are no limits on how many times you can withdraw, though some banks charge fees if you withdraw more than a certain number of times per month — check your account agreement to see if Chase does. Your account comes with online banking and a mobile app so you can check your balance and move money from your phone.
Understanding Chase savings account types
Chase offers a few different savings accounts. The standard Chase Savings Account is the most common and has a low minimum opening deposit. The Chase Premier Savings account requires a higher opening deposit but may offer a higher interest rate. There's also the Chase High Yield Savings Account, which is designed specifically to earn more interest, though it also has a higher minimum balance requirement.
If you're just starting out, the standard Chase Savings Account is usually the right choice. You can always move money to a different account type later if your balance grows or your needs change. Ask a Chase employee which account makes sense for you based on how much money you're starting with and how often you plan to add to it.
Documents and information you'll need
| What You Need | Why Chase Asks For It | What Counts |
|---|---|---|
| Government-issued ID | To verify you are who you say you are | Driver's license, passport, state ID, or military ID |
| Social Security number | To report interest you earn to the IRS and check your credit history | Your nine-digit Social Security number |
| Current address | For account statements and to comply with banking rules | Where you live now; a P.O. box does not work |
| Opening deposit | To fund the account and show you're serious about saving | Usually $25 to $100, depending on account type |
Frequently Asked Questions
Do I need a checking account to open a savings account with Chase?
No. You can open a savings account with Chase without having a checking account. Many people start with just a savings account and add a checking account later if they need it. They work independently, though you can link them together once you have both.
How much interest will I earn?
The interest rate changes based on what the Federal Reserve does, so it's different every few months. Chase posts current rates on their website. For example, if your rate is 0.01% and you have $1,000 in the account, you'd earn about $0.10 per year — it's small, but it adds up over time as your balance grows.
Can I open an account if I don't have a Social Security number?
Chase requires a Social Security number or Individual Taxpayer Identification Number (ITIN) to open an account. If you don't have either, you may not be able to open a standard savings account. Contact Chase directly to ask about alternatives or accounts for people without a Social Security number.
What if I don't have a government ID?
Chase requires a valid government-issued ID to verify your identity. If you don't have a driver's license or passport, a state ID card works. If you have none of these, visit a Chase branch in person and ask what other forms of ID they can accept — policies vary by location.
How long does it take to access my money after I open the account?
If you open online and fund with a debit card, your account is active when ready and you can transfer money out the same day. If you transfer from another bank, it takes one to three business days for the money to arrive. Once it's there, you can use it anytime.