What you need to open a Chase savings account
You can open a Chase savings account in person at a branch, online through Chase's website, or by phone. The process takes about 10 to 15 minutes, and you'll have an account number the same day. Chase requires a few pieces of information and identification before you can start.
To open an account, you'll need a valid government-issued ID (a driver's license, passport, or state ID card), your Social Security number, and an initial deposit. The minimum opening deposit varies by account type — some Chase savings accounts require $25, while others require $100 or more. You'll also need a way to fund the account: a debit card, another bank account, or cash if you're opening in person at a branch.
If you don't have a Social Security number yet, you can still open an account with an Individual Taxpayer Identification Number (ITIN). Call Chase at 1-800-935-9935 to ask about this option, since not all branches handle ITIN accounts.
Key Takeaways
- You need a valid government ID, your Social Security number, and an opening deposit of at least $25 to $100 depending on the account type.
- Opening online through Chase.com takes about 10 to 15 minutes and you can fund the account from another bank or with a debit card.
- Opening in person at a Chase branch lets you deposit cash when ready and ask questions about which account type fits your needs.
- Chase savings accounts earn interest, though the rate changes based on how much money you keep in the account and current market conditions.
- Once your account is open, you can set up direct deposit, transfer money between accounts, and manage everything through the Chase mobile app or website.
Opening online through Chase.com
Opening online is the fastest route if you already have internet access and a way to fund the account. Go to Chase.com, click "Open an Account," and select "Savings Account." You'll be asked to choose which type of savings account you want — Chase offers several, including the Chase Savings Account and the Chase Premier Savings Account, which have different interest rates and minimum balances.
During the online process, you'll enter your personal information: name, address, date of birth, Social Security number, phone number, and email. Chase will ask about your employment and income, though you don't need to be employed to open an account. You'll then choose how to fund the account — either by linking another bank account (which takes one to two business days to verify) or by using a debit card (which is when ready).
After you submit your information, Chase reviews it and sends you a confirmation email with your account number. You can log in to your account and start using it right away, though transfers from another bank may take a few days to arrive.
Opening in person at a Chase branch
If you prefer to speak with someone or want to deposit cash when ready, visit a Chase branch near you. Bring your government ID, Social Security number, and the cash or debit card you plan to use for your opening deposit. A Chase representative will walk you through the account options and help you choose the right savings account for your situation.
The representative will ask the same questions as the online process — your name, address, employment, and income — and will enter the information into their system while you're there. You'll sign documents and receive your account number on the spot. If you're depositing cash, it goes into your account when ready.
Opening in person is useful if you're new to banking and want to understand the differences between account types, or if you have questions about fees, interest rates, or how the account works. You can also ask about setting up direct deposit or linking the account to other services.
Opening by phone with Chase customer service
You can also open a savings account by calling Chase at 1-800-935-9935. A representative will guide you through the process over the phone, asking for the same information as the online or in-person routes. This option works well if you don't have straightforward access to a branch or prefer not to use the website.
When you call, have your ID ready and know how you plan to fund the account. The representative will confirm your information, explain the account terms, and set up your opening deposit. You'll receive your account number by phone and can start using the account the same day, though funding may take a few business days depending on your deposit method.
Understanding Chase savings account types and interest rates
Chase offers several savings accounts with different features and interest rates. The Chase Savings Account is the basic option with a low minimum opening deposit and a standard interest rate. The Chase Premier Savings Account requires a higher minimum balance but pays a higher interest rate. The Chase High Yield Savings Account is designed for customers who want to earn more interest on their savings.
Interest rates change based on market conditions and how much money you keep in the account. A higher balance often earns a higher rate. Chase publishes its current rates on its website, and you can compare them before you open. The interest is calculated daily and added to your account monthly, so your balance grows over time without you having to do anything.
Each account type also has different monthly fees. Some accounts waive the monthly fee if you keep a certain balance or set up direct deposit. Ask the Chase representative which account type has the lowest fees for your situation.
What happens after your account opens
Once your account is open, you can start using it right away. read the Chase mobile app or log in at Chase.com to see your balance, transfer money, and manage your account. You can set up direct deposit so your paycheck goes straight into your savings account — just give your employer your account number and routing number, which you'll find in the app or on your first statement.
You can also transfer money from another bank account into your Chase savings account, though the transfer may take one to three business days. If you opened in person and deposited cash, that money is available when ready. You can withdraw money from your account at any time through an ATM, at a Chase branch, or by transferring it to another account.
Chase will send you a debit card for the account if you want one, though you don't need it to use the account. You can also link your savings account to a Chase checking account for straightforward transfers between the two.
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 on its own without having a checking account. Many people use a savings account by itself to set money aside. If you want both accounts, you can open them at the same time or open the savings account first and add a checking account later.
What's the difference between opening online and opening in person?
Opening online is faster and you can do it anytime, but you can't deposit cash when ready — you'll need to fund it from another bank account or debit card. Opening in person lets you deposit cash right away and ask questions about which account type is best for you. Both methods take about the same amount of time once you're in the process.
Can I open a Chase account if I don't have a Social Security number?
Yes, you can use an Individual Taxpayer Identification Number (ITIN) instead. Call Chase at 1-800-935-9935 to ask about opening an account with an ITIN, since not all branches handle these accounts and the process may be different.
How long does it take to fund my account after I open it?
If you deposit cash in person, it's available when ready. If you link another bank account, the transfer usually takes one to three business days. If you use a debit card, the deposit is when ready. Chase will show you the expected timing when you choose your funding method.
What if I don't meet the minimum opening deposit?
You need at least the minimum deposit to open the account — Chase won't open an account without it. The minimum varies by account type, from $25 to $100 or more. If you don't have enough right now, you can wait until you do, or ask a Chase representative if there's a lower-minimum account available.