What you need to open a Chase savings account
You can open a Chase savings account online, by phone, or in a branch. Chase requires a government-issued photo ID, your Social Security number, and an initial deposit. The minimum opening deposit is $0 for most savings accounts, though some accounts require $25 or more—check the specific account type before you start. You'll also need a current mailing address and a way to fund the account (debit card, bank transfer, or cash deposit at a branch).
If you're opening online, the process takes about 10 minutes. If you go to a branch, bring your ID and be prepared to spend 15 to 30 minutes. Chase will run a soft credit check and verify your identity through ChexSystems, a banking history database—this does not affect your credit score.
You don't need to be a current Chase customer to open a savings account. If you already have a Chase checking account, opening a savings account is faster because Chase already has your information on file.
Key Takeaways
- You need a government photo ID, Social Security number, current address, and an initial deposit to open a Chase savings account.
- Online account opening takes about 10 minutes; in-branch opening takes 15 to 30 minutes.
- Chase runs a soft credit check through ChexSystems, which does not lower your credit score.
- You can fund your new account with a debit card, bank transfer, or cash deposit at a Chase branch.
- If you have a Chase checking account already, the process moves faster because your identity is already verified.
Opening online through Chase.com
Go to Chase.com and click "Open an Account" or "Savings Accounts." Select the savings account type you want—Chase offers High Yield Savings, regular Savings, and Money Market accounts, each with different interest rates and minimum balances. Read the account details carefully because some accounts have monthly fees if you don't maintain a minimum balance.
Enter your personal information: full name, date of birth, Social Security number, current address, phone number, and email. Chase will ask whether you're a U.S. citizen and whether you have a Chase account already. Answer honestly—lying on a bank process is fraud and can result in account closure and legal consequences.
Chase will verify your identity by asking security questions based on your credit history, or by sending a verification code to your phone or email. Once verified, you'll choose your initial deposit method. If you use a debit card, the deposit posts when ready. If you transfer from another bank, it takes one to three business days. You'll receive your account number and routing number when ready, even before the deposit clears.
Opening in a Chase branch
Bring your government photo ID (driver's license, passport, or state ID), your Social Security number, and your current address. If you don't have your Social Security number memorized, write it down before you go. Tell the banker you want to open a savings account and which type interests you.
The banker will walk you through the same identity verification process as online, but in person. They'll ask the same questions about citizenship and existing accounts. You can fund the account with cash, a debit card, or a check. Cash deposits post when ready; debit card deposits post the same day; checks take one to three business days to clear.
The banker will give you a temporary debit card if you're opening a checking account at the same time, but savings accounts don't come with debit cards. You'll receive your account number and routing number before you leave the branch.
Opening by phone
Call Chase at 1-800-935-9935 to open a savings account over the phone. Have your ID, Social Security number, and address ready. A Chase representative will walk you through the same verification process and ask the same questions as the online and in-branch routes.
You'll need to fund the account by debit card or bank transfer during the call—you cannot deposit cash by phone. The representative will confirm your account number and routing number before the call ends. This route takes about 15 to 20 minutes.
What happens after you open the account
Your account is active when ready, even if your initial deposit hasn't cleared yet. You can set up transfers, direct deposits, and bill pay right away. You'll receive a welcome packet in the mail within 5 to 7 business days with your debit card (if you opened a checking account), account statements, and additional disclosures.
Your first statement will arrive 30 days after account opening. Interest accrues daily on savings accounts and is deposited monthly. The interest rate varies based on the account type and changes with Federal Reserve decisions—check Chase.com for current rates.
If you opened the account online or by phone, you can log into your account when ready using your Social Security number and a password you create. If you opened in branch, the banker will set up your online login before you leave.
Documents you'll need for each opening method
| Opening Method | Documents Needed | Time Required | When Funds Post |
|---|---|---|---|
| Online | Photo ID, Social Security number, address, debit card or bank account for funding | 10 minutes | Debit card: same day. Bank transfer: 1–3 business days |
| In Branch | Photo ID, Social Security number, address, cash/debit card/check | 15–30 minutes | Cash: same day. Debit card: same day. Check: 1–3 business days |
| By Phone | Photo ID, Social Security number, address, debit card or bank account for funding | 15–20 minutes | Debit card: same day. Bank transfer: 1–3 business days |
What to do if your process is denied
Chase denies savings account applications for a few specific reasons: a negative ChexSystems report (a record of unpaid overdrafts or fraud at another bank), an active fraud alert on your credit file, or providing false information on the process. If your process is denied, Chase will send you a letter explaining why within 5 to 7 business days.
If the denial is due to ChexSystems, you can dispute the information by contacting ChexSystems directly at 1-800-428-9623 or visiting chexsystems.com. You have the right to see what's in your ChexSystems file and to correct errors. This process takes 30 to 60 days. Once the error is corrected, you can reapply to Chase.
If the denial is due to a fraud alert, contact the credit bureau that placed it (Equifax, Experian, or TransUnion) and ask them to remove it. If you placed the alert yourself for security reasons, you can remove it by calling the bureau. Once removed, reapply to Chase.
Frequently Asked Questions
Do I need to have a Chase checking account to open a savings account?
No. You can open a Chase savings account without any existing Chase accounts. However, if you already have a Chase checking account, the process is faster because Chase has already verified your identity.
What's the difference between Chase savings accounts?
Chase offers High Yield Savings (higher interest rate, higher minimum balance), regular Savings (lower interest rate, lower minimum balance), and Money Market accounts (highest interest rate, highest minimum balance). Compare current rates and fees on Chase.com to choose the best fit for your situation.
Can I open a 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 open an account using that instead.
What if I don't have a government photo ID?
You need a government-issued photo ID to open an account in person or by phone. If you're opening online, Chase may accept alternative forms of identity verification—call 1-800-935-9935 to ask what documents they'll accept in your situation.
How long does it take to receive my debit card?
Debit cards arrive 7 to 10 business days after account opening. Savings accounts don't come with debit cards—only checking accounts do. If you want a debit card, you'll need to open a checking account as well.