You can open a Chase savings account online in about 10 minutes using a computer or phone
Chase lets you start a savings account from home without visiting a branch. The process happens entirely online: you answer questions about yourself, provide a document to verify your identity, link a funding source, and deposit money. Most accounts are active the same day or within one business day.
You will need a few things before you start: a valid government ID (driver's license, passport, or state ID card), your Social Security number, and a way to fund the account — either a debit card, another bank account, or a wire transfer. Chase will ask for your address, phone number, and email. The whole thing takes about 10 minutes if you have these items ready.
Key Takeaways
- You need a valid government ID, your Social Security number, and a way to fund the account before you begin.
- Chase verifies your identity by asking questions about your credit history or by checking your ID against government records.
- Your account opens the same day or next business day, and you can start using it as soon as it is active.
- Chase savings accounts have a monthly maintenance fee unless you meet certain balance or deposit requirements, which vary by account type.
- You can manage your account online or through the Chase mobile app once it is open.
What documents and information you need to have ready
Gather these items before you go to Chase's website to open an account. You will need your valid government-issued ID — a driver's license, passport, or state ID card. Chase will ask you to enter the ID number and expiration date. You will also need your Social Security number, which Chase uses to check your identity and credit history.
Have your current address ready, including your zip code. Chase will ask for a phone number and email address where they can reach you. If you are funding the account with a debit card, have that card number, expiration date, and CVV (the three-digit code on the back) ready. If you are transferring money from another bank account, you will need that account's routing number and account number — you can usually find these on a check or by logging into that bank's website.
The step-by-step process to open your account
Start by going to Chase.com and looking for the option to open a savings account. You will see a button or link that says something like "Open an Account" or "get your free guide." Click it and choose "Savings Account" from the account types offered.
Chase will ask you personal questions: your full name, date of birth, address, phone number, and email. Enter these exactly as they appear on your ID. Next, you will provide your Social Security number. Chase uses this to verify your identity against government records and to check your credit history — this is called a "soft pull" and does not lower your credit score.
Chase will then ask you to verify your identity. Depending on what information matches their records, they may ask you security questions about your credit history (like "which of these addresses have you lived at?") or they may ask you to take a photo of your ID with your phone or computer camera. Follow the on-screen instructions. Once Chase confirms your identity, you will choose which type of savings account you want and review the account terms.
Finally, you will fund your account. Choose whether you are depositing from a debit card or another bank account. Enter the card or account details and the amount you want to deposit. Chase requires a minimum opening deposit — this amount varies, so check the current requirement when you are opening your account. After you submit this information, your account opens and you should see it in your Chase online banking dashboard within a few minutes to a few hours.
How Chase verifies your identity online
Chase uses two main methods to confirm you are who you say you are. The first is a soft credit pull — Chase checks your credit history to see if the information you provided matches what is on file. If everything lines up, you may be done with verification when ready. If there are gaps or mismatches, Chase moves to the second method.
The second method is photo ID verification. Chase will ask you to take a photo of your government ID using your phone or computer camera. You will photograph the front and back of the ID, and sometimes Chase will ask you to take a selfie to confirm the ID belongs to you. This usually takes a few minutes. Chase's system checks the photo against the ID number you entered and against government databases.
If you cannot verify online — for example, if your ID is expired or if Chase cannot match your information — you may be asked to visit a Chase branch in person or to mail in a copy of your ID. Chase will tell you which option is available in your situation.
When your account will be ready to use
Most Chase savings accounts are active the same day you open them, especially if you complete the process before 2 p.m. Eastern Time on a business day. You will receive a confirmation email with your account number and details. You can log into your Chase online account or read the Chase mobile app and start using your account right away.
If you opened your account after 2 p.m. or on a weekend or holiday, it may not be active until the next business day. You will still receive a confirmation email, and you can check the status by logging into your Chase account online. Once the account is active, you can transfer money, set up automatic transfers, and use your savings account just like any other bank account.
Monthly fees and how to avoid them
Chase savings accounts have a monthly maintenance fee unless you meet certain requirements. The fee amount and the way to avoid it depend on which type of savings account you open — Chase offers several versions with different features and different fee structures.
Common ways to avoid the monthly fee include keeping a minimum balance (often $300 to $500, depending on the account type), setting up a direct deposit of at least a certain amount each month, or maintaining a linked Chase checking account. When you are opening your account, Chase will show you the fee and the ways to waive it. Read this section carefully so you know what you need to do to keep your account fee-free.
If you do not meet the requirements and the fee is charged, you can contact Chase to ask them to remove it — especially if it is your first time. But it is easier to set up the requirement from the start. For example, if you have a Chase checking account, linking your savings account to it may automatically waive the fee.
Setting up your account after it opens
Once your account is active, log into your Chase online banking or open the Chase mobile app. You will see your new savings account listed alongside any other accounts you have with Chase. From here, you can set up automatic transfers, check your balance, and manage your account settings.
Consider setting up automatic transfers if you want to save money regularly. For example, you can arrange for Chase to move $50 from your checking account to your savings account every payday. You can also set up alerts — Chase can notify you by email or text when your balance drops below a certain amount or when a transfer is made.
If you want to deposit cash or checks, you can do that at any Chase branch or ATM. You can also deposit checks using the Chase mobile app by taking a photo of the front and back of the check. These mobile deposits usually appear in your account within one business day.
Frequently Asked Questions
Do I need to be a Chase customer already to open a savings account online?
No. You can open a Chase savings account online even if you have never banked with Chase before. You will need to provide your Social Security number and a valid ID, and Chase will verify your identity, but you do not need an existing Chase account.
What if Chase cannot verify my identity online?
If the online verification does not work, Chase will tell you what to do next. You may be able to visit a Chase branch with your ID, or Chase may ask you to mail in a copy of your ID. In some cases, Chase may ask you to call their customer service line. The process usually takes a few extra days, but you will still be able to open the account.
Can I open a Chase savings account on my phone?
Yes. You can use the Chase mobile app or go to Chase.com on your phone's web browser. The process is the same as on a computer. If Chase asks you to verify your ID with a photo, using your phone actually makes this easier because you can take the photo right there.
What is the minimum amount I need to deposit to open the account?
Chase requires a minimum opening deposit, but the amount varies depending on which savings account type you choose and current promotions. When you are opening your account, Chase will show you the minimum for the account you selected. Check this amount before you start so you know you have enough available.
How long does it take to transfer money into my new Chase savings account?
If you fund your account with a debit card during the opening process, the money appears when ready or within a few hours. If you transfer money from another bank account after your account opens, it usually takes one to three business days, depending on the other bank. Wire transfers are faster — usually the same day — but may have a fee.