You can open a Chase savings account online in about 10 minutes using a computer or phone
Chase lets you start a savings account entirely online without visiting a branch. You'll need a valid government ID, a Social Security number, and either a Chase checking account or an external bank account to fund it. The whole process takes roughly 10 minutes, and your account is usually ready to use the same day.
The main thing to know upfront: Chase has different savings account products, and which one you can open online depends on what you already have with them. If you're a current Chase customer, the process is faster. If you're new to Chase, you may need to open a checking account first, or you can fund a savings account from another bank.
Key Takeaways
- You need a valid government ID, Social Security number, and either an existing Chase account or access to another bank account to fund the new savings account.
- Chase offers several savings products online, including Chase Savings and Chase Premier Savings, each with different monthly fees and minimum balance requirements.
- The online process asks for personal information, income details, and employment status, then verifies your identity in real time.
- Once approved, your account opens when ready and you can start depositing money the same day through transfers or mobile deposit.
- If you're not yet a Chase customer, you may need to open a checking account first or link an external bank account to fund your savings.
What you need before you start
Gather these items before opening your browser: a valid government-issued ID (driver's license, passport, or state ID), your Social Security number, and your current address. Chase will ask for this information to verify who you are.
You'll also need a way to fund the account. If you already have a Chase checking account, you can transfer money from that account. If you don't have a Chase account yet, you can link an external bank account (from another bank) and transfer money from there. Have your routing number and account number from that external account ready if you're going that route.
The online process process
Go to chase.com on a computer or open the Chase mobile app. Look for the option to open a new account. Chase will ask you to choose which type of savings account you want — this matters because different accounts have different monthly fees and minimum balance requirements. Read the details for each option before choosing.
The process form asks for your personal information: full name, date of birth, address, phone number, and email. You'll also answer questions about your employment status and annual income. These questions help Chase meet federal banking rules; they don't determine whether you're approved.
Chase verifies your identity in real time by asking you security questions based on your credit history. You'll answer questions like "Which of these addresses have you lived at?" or "Which of these credit cards have you had?" Answer based on your actual history. If you answer incorrectly, the system may ask you to verify your identity another way, such as uploading a photo of your ID.
Funding your new account
Once your account opens, you need to deposit money into it. If you have a Chase checking account, you can transfer money between your accounts when ready through Chase's website or app. Go to "Transfer Money," select your new savings account as the destination, and enter the amount.
If you're funding from an external bank account, Chase will ask for that bank's routing number and your account number. The first transfer typically takes one to two business days. Some banks allow you to use mobile deposit — taking a photo of a check through the Chase app — if you have a check to deposit.
Different Chase savings account types
Chase offers more than one savings product online. Chase Savings is the basic option with a monthly fee waived if you keep a certain minimum balance (the amount varies). Chase Premier Savings is designed for customers with larger balances and offers higher interest rates but also has a higher minimum balance requirement.
Before you complete your process, review the current terms for each account type on Chase's website. Minimum balance requirements and monthly fees change, so check what applies right now. If you don't meet the minimum balance for one account, you may be charged a monthly fee, though the fee is usually waived if you bring your balance above the minimum by the end of the month.
What happens after you open the account
Your savings account number appears in your Chase app or online banking when ready after approval. You can start using it right away to receive transfers or deposits. If you set up a direct deposit (like a paycheck), it can go straight into your savings account.
You'll receive a debit card in the mail within 7 to 10 business days if you ordered one, though you don't need a debit card to use a savings account — you can transfer money out through your Chase app or by visiting a branch. Your monthly statements appear in your Chase online account, and you can read them anytime.
If you're not yet a Chase customer
If you don't have any Chase account, you have two paths. The first is to open a Chase checking account first, then open the savings account. This takes a bit longer but gives you full access to Chase's online banking right away. The second is to open a savings account and fund it from an external bank account, though some features may be limited until you also have a Chase checking account.
Check Chase's current offers for new customers — they sometimes offer cash bonuses for opening a checking account, which you can then transfer into your new savings account. These offers change frequently, so look at the current promotion when you visit the site.
Frequently Asked Questions
How long does it take to open a Chase savings account online?
The process itself takes about 10 minutes. Your account opens when ready after approval, usually within the same day. However, if you're funding it from an external bank account, that first transfer takes one to two business days to complete.
Do I need a minimum deposit to open the account?
Chase does not require a minimum deposit to open a savings account online. However, you do need to fund it eventually, and if your balance falls below the monthly minimum (which varies by account type), you may be charged a monthly fee.
What if my identity verification fails?
If you answer the security questions incorrectly, Chase will ask you to verify your identity another way. You can upload a photo of your government ID, or you can visit a Chase branch in person with your ID. The online process will pause and guide you through the next step.
Can I open a savings account if I have a Chase checking account but no other bank account?
Yes. If you already have a Chase checking account, you can open a savings account online and fund it by transferring money from your checking account. You don't need an external bank account.
What's the difference between Chase Savings and Chase Premier Savings?
Chase Premier Savings typically requires a higher minimum balance but offers a higher interest rate on your money. Chase Savings has a lower minimum balance requirement. Compare the current terms on Chase's website to see which fits your situation.