What you need before you start

Chase lets you open a savings account online, by phone, or in a branch. You will need a valid government-issued ID, your Social Security number, and an initial deposit (usually $25 minimum, though this varies by account type). If you already have a Chase checking account, the process is faster because Chase already has your information on file.

Before you begin, decide which savings account fits your situation. Chase offers several: the Chase Savings Account (basic option with no monthly fee if you maintain a minimum balance or set up direct deposit), the Chase Premier Savings Account (higher interest rate but requires a larger opening deposit), and the Chase First Banking account (for customers under 18). Each has different interest rates and balance requirements, so knowing which one you want saves time during setup.

Key Takeaways

  • You can open a Chase savings account online in about 10 minutes, by phone, or in person at a branch.
  • You will need a valid ID, Social Security number, and an opening deposit of at least $25 for most accounts.
  • If you already have a Chase checking account, you can often add a savings account without repeating identity verification.
  • Chase will run a ChexSystems check (a banking history report) as part of the process, which does not affect your credit score.
  • Your account becomes active when ready after approval, and you can begin depositing and withdrawing money the same day.

Opening an account online through Chase.com

Go to chase.com and look for the "Open an Account" button, usually near the top of the page. Select "Savings Account" from the account type menu. You will be asked to enter your email address, create a password, and confirm your state of residence. Chase uses this information to show you which accounts are available in your state, since some products vary by location.

Next, you will enter your personal information: full name, date of birth, Social Security number, and current address. Chase will ask about your employment status and annual income, though these are optional fields. Then you will choose your opening deposit method—you can link an external bank account and transfer funds, use a debit card, or arrange a wire transfer. The system 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 will review the account terms, set up online banking access, and choose whether to enroll in paperless statements. The entire process takes 10 to 15 minutes. Your account number appears on screen when ready, and you can log in to your new account right away.

Opening an account by phone or in a Chase branch

Call Chase at 1-800-935-9935 to open a savings account over the phone. A representative will walk you through the same information you would enter online: personal details, Social Security number, and opening deposit method. Phone representatives can often answer questions about which account type suits your needs, which is helpful if you are unsure between the basic and Premier options.

If you prefer to open an account in person, visit any Chase branch with your ID and Social Security number. Bring a debit card or checkbook from another bank if you want to fund the account when ready, or ask about wire transfer options. In-branch opening takes about 20 to 30 minutes because the banker will review account features and set up online access on a branch computer. You will receive a debit card process at the time of opening; the card arrives by mail in 7 to 10 business days.

What happens after you open the account

Your savings account is active when ready after approval. You can log into Chase online banking or the mobile app and begin moving money. If you funded the account with a transfer from another bank, that money typically arrives within 1 to 3 business days. If you made a deposit at a branch or through an ATM, it posts the same day for in-branch deposits or by the next business day for ATM deposits.

Chase will send you a welcome packet by mail within 7 to 10 business days containing your account number, disclosures, and information about online banking. You do not need to wait for this packet to use your account—your online login works when ready. If you want a debit card linked to your savings account, you can request one during setup or ask for it later through online banking or at a branch.

Understanding Chase's verification process and ChexSystems

During account opening, Chase runs a check through ChexSystems, a banking history report system. This check shows Chase whether you have had accounts closed due to overdrafts, fraud, or other issues at other banks. ChexSystems is not a credit check and does not affect your credit score. If you have been denied a bank account in the past due to ChexSystems, you can still open a Chase account, but Chase will review your history and may decline if the issue is recent or serious.

Chase also verifies your identity using information from credit bureaus. If you cannot answer the security questions correctly, Chase will ask for additional proof of identity—usually a photo ID and proof of address (utility bill, lease, or bank statement). This verification step protects both you and Chase from fraud and takes only a few extra minutes.

Minimum balance requirements and monthly fees

The Chase Savings Account has no monthly maintenance fee if you maintain a minimum balance of $300 or set up a direct deposit of any amount. If your balance falls below $300 and you have no direct deposit, Chase charges $5 per month. The Chase Premier Savings Account requires a $10,000 minimum balance to avoid a $25 monthly fee, but it offers a higher interest rate in return.

Interest rates on Chase savings accounts change based on the Federal Reserve's rate decisions and market conditions. Your rate is disclosed in the account terms before you open the account, and Chase notifies you by mail or email if the rate changes. You earn interest monthly, and it is added to your account balance automatically.

If you already have a Chase checking account

If you are a current Chase customer, opening a savings account is even simpler. Log into your existing online banking account, select "Open an Account," and choose savings. Chase already has your identity information verified, so you skip the security questions and verification step. You can fund the new savings account by transferring money from your existing checking account, which happens when ready. The entire process takes 5 minutes.

Existing customers can also call the number on the back of their debit card or visit their local branch. Branch staff can open a savings account on the spot while you wait, and you can transfer money between your checking and savings accounts when ready through online banking or at an ATM.

Frequently Asked Questions

Can I open a Chase savings account if I have been denied by another bank?

Yes. Chase reviews ChexSystems history but does not automatically deny accounts based on past issues. If you were denied due to overdrafts or closed accounts, Chase may still open an account for you. Call 1-800-935-9935 to discuss your situation with a representative before explore online.

How long does it take to access my money after opening an account?

Your account is active when ready, and you can log in right away. Transfers from another bank take 1 to 3 business days. In-branch deposits post the same day; ATM deposits post by the next business day. You can begin using your account before the welcome packet arrives in the mail.

Do I have to get a debit card with my savings account?

No. You can open a savings account without requesting a debit card and manage it entirely through online banking or ATM withdrawals. If you want a card later, you can request one through online banking or at a branch.

What is the difference between the basic Chase Savings Account and the Premier Savings Account?

The Premier account requires a $10,000 opening deposit and $10,000 minimum balance, but offers a higher interest rate. The basic account requires only $25 to open and has no monthly fee if you maintain $300 or set up direct deposit. Choose based on how much you plan to keep in savings and whether the higher interest rate matters to you.

Can I open a savings account for someone else, like a child?

Chase offers the Chase First Banking account for customers under 18, which requires a parent or guardian to open and co-own the account. Visit a branch or call 1-800-935-9935 to learn about this option and what documents are needed.