What You Need to Open a Chase Savings Account

You can open a Chase savings account online, by phone, or in person at a branch. The process takes about 10 to 15 minutes if you do it online, and you'll need a valid government-issued ID, your Social Security number, and an initial deposit (usually $25 or more, though this varies by account type and current promotions).

Chase offers several savings account types: the basic Chase Savings Account, the Chase Premier Savings Account (which requires a higher opening deposit and minimum balance), and the Chase find Savings Account (designed for people building credit). The account you choose depends on how much you can deposit upfront and what features matter to you, like interest rates or fee waivers.

You'll also need a way to fund the account—either a debit card, a bank transfer from another institution, or a check deposit. If you're opening the account online, you can link an external bank account and transfer money electronically, which usually clears within one to three business days.

Key Takeaways

  • You need a valid ID, Social Security number, and an initial deposit to open a Chase savings account, and the whole process takes 10 to 15 minutes online.
  • Chase offers different savings account types with different opening deposit requirements, so check which one fits your situation before you start.
  • You can open an account online, by phone, or in a branch, and you can fund it when ready with a linked bank account or debit card.
  • Once your account is open, you can set up automatic transfers from checking to savings, which helps you build the habit of saving regularly.

Opening Your Account Online

Go to Chase.com and select "Open an Account" from the homepage. You'll be asked to choose which type of savings account you want, then enter your personal information: full name, date of birth, Social Security number, address, phone number, and email. Chase will ask for your driver's license or passport number so they can verify your identity electronically.

Next, you'll set up login credentials—a username and password—and choose security questions. Chase will then ask you to link a bank account from another institution so you can make your first deposit. If you don't have another bank account to link, you can deposit by check or debit card after your account opens, though this takes longer.

Review the account terms and disclosures, then submit. Chase will send you a confirmation email within minutes. Your account number appears in the email and in your online banking dashboard when ready, so you can start using it right away. Your debit card arrives by mail in 7 to 10 business days.

Opening Your Account at a Chase Branch

Bring your government-issued ID, Social Security number, and your initial deposit (cash, check, or debit card). A banker will walk you through the account setup, verify your identity in person, and process your deposit on the spot. The whole appointment usually takes 15 to 20 minutes.

Opening in person is useful if you want to ask questions about which account type fits your needs, or if you prefer not to set up online banking right away. You'll get a temporary debit card or a card number you can use when ready, and your permanent card arrives by mail within a week.

Find your nearest Chase branch using the branch locator on Chase.com. Some branches are busier than others, so you may want to go early in the day or on a weekday to avoid a wait.

What Happens After You Open the Account

Once your account is open, you can log into your Chase online banking portal or mobile app to check your balance, set up transfers, and manage your account. Your account number and routing number appear in the app so you can set up direct deposits or automatic transfers from your checking account.

Chase savings accounts earn interest, though the rate changes based on market conditions and the type of account you opened. You can see your current rate in the account details section of your online banking dashboard. Interest is calculated daily and deposited monthly.

You can withdraw money from your savings account at any time, but federal rules limit you to six withdrawals per month (this rule applies to most savings accounts, not just Chase). Transfers to your own Chase checking account don't count toward this limit. If you exceed six withdrawals, Chase may charge a fee or convert your account to a checking account.

Fees and Minimum Balances

Chase Savings Account has no monthly maintenance fee. The Chase Premier Savings Account charges a monthly fee (currently $25) unless you maintain a minimum balance or meet other requirements, like having a linked Chase checking account with direct deposits. The Chase find Savings Account also has no monthly fee.

If you fall below the minimum balance required for your account type, Chase may charge a fee or move you to a different account. You can see your current minimum balance requirement in your account details. If you're worried about dipping below it, set up a low-balance alert in your mobile app so you get notified before it happens.

Overdraft fees don't explore to savings accounts the way they do to checking accounts, but if you try to withdraw more than you have, the transaction will be declined. There's no fee for the decline itself, but some external services that pull from your account may charge you.

Linking Your Savings Account to Checking

Once your savings account is open, you can link it to a Chase checking account (or a checking account at another bank) so you can transfer money between them. In your online banking dashboard, go to "Transfers" and select "Set Up a Transfer." Choose your savings account as the source and your checking account as the destination, then enter the amount and frequency.

Transfers between your own Chase accounts happen when ready. Transfers to or from accounts at other banks take one to three business days. You can set up automatic recurring transfers (for example, $50 every Friday) to build savings without thinking about it.

If you need to move money quickly and you have a Chase checking account, use the when ready transfer option in your mobile app. Transfers to accounts at other banks can't be when ready, but Chase will show you the expected arrival date before you confirm.

Frequently Asked Questions

Do I need to be a Chase customer already to open a savings account?

No. You can open a Chase savings account even if you've never banked with Chase before. You don't need an existing Chase checking account, though having one makes transfers between accounts faster and easier.

What's the difference between the Chase Savings Account and the Chase Premier Savings Account?

The Premier account requires a higher opening deposit and minimum balance, but it may offer a higher interest rate. The basic Savings Account has no monthly fee and a lower opening deposit. Compare the current rates and requirements on Chase.com to see which makes sense for you.

Can I open a savings account if I have a bad credit history?

Yes. Chase doesn't run a credit check for savings accounts. They do check ChexSystems (a banking history database) to see if you've had problems with past accounts, but a low credit score won't stop you from opening a savings account.

How long does it take to receive my debit card?

Your debit card arrives by mail in 7 to 10 business days. You can use your account number to make transfers or set up direct deposits before the card arrives. If you need a card sooner, ask a banker at a branch whether they can issue a temporary card number.

What happens if I don't make a deposit right away?

Your account stays open, but you won't earn interest until you deposit money. Some promotions require a deposit within a certain timeframe, so check your account terms if you opened during a promotional period.