What you need to open a Chase savings account

Chase lets you open a savings account online, by phone, or in person at a branch. You will need a government-issued ID, your Social Security number, and an initial deposit. The deposit amount varies by account type — some Chase savings accounts require $0 to open, while others ask for $25 or more. You can fund the account with a debit card, transfer from another bank, or cash at a branch.

The entire process takes about 10 to 15 minutes online. Chase will verify your identity during signup, which may include asking security questions or confirming recent transactions on accounts linked to your Social Security number. If you open in a branch, a banker can walk you through the options and answer questions about monthly fees and interest rates in real time.

You will also choose whether you want online banking, a debit card, and whether to link the account to an existing Chase checking account. These choices affect how you move money in and out, so it helps to know what you plan to use the account for before you start.

Key Takeaways

  • You need a government ID, Social Security number, and an opening deposit to create a Chase savings account online or at a branch.
  • Chase offers multiple savings account types with different minimum opening deposits and monthly maintenance fees, so compare them before you choose.
  • Online signup takes 10 to 15 minutes and includes identity verification through security questions or transaction confirmation.
  • You can fund your new account with a debit card, a transfer from another bank, or cash deposited at a Chase branch.

Opening online through Chase.com

Go to Chase.com and select "Open an Account" from the homepage. Choose "Savings" from the account type menu. Chase will show you the savings products available in your state — options vary by location, but typically include Chase Savings, Chase Premier Savings, and Chase find Savings.

Enter your personal information: full name, date of birth, address, phone number, and Social Security number. Chase will run a soft credit check and verify your identity by asking questions based on your credit history or recent financial activity. This takes a few minutes and does not affect your credit score.

Next, choose your opening deposit method. If you have a Chase checking account, you can transfer money from that account when ready. If you do not, you can use a debit card from another bank or set up an external transfer from another financial institution. Debit card deposits post when ready; transfers from other banks typically arrive within one to three business days.

Review the account terms, including the interest rate, monthly fee (if any), and minimum balance requirements. Click to agree and submit. Chase will send you a confirmation email with your new account number and routing number. You can start using the account right away for transfers and online transactions, though you may need to wait for a debit card to arrive by mail if you ordered one.

Opening at a Chase branch in person

Walk into any Chase branch with your government ID and Social Security number. Tell the banker you want to open a savings account. They will ask about your banking needs — whether you want to link it to a checking account, whether you need a debit card, and how much you plan to deposit.

The banker will show you the account options available and explain the differences in fees, interest rates, and minimum balances. This is a good time to ask questions about how the account works, what happens if your balance drops below the minimum, or how to move money between accounts. The banker can also set up online banking access on the spot.

You will sign documents and provide your opening deposit. You can pay with cash, a debit card, or a check. If you pay with a debit card, the deposit posts when ready. Cash deposits are available right away. Checks typically clear within one to three business days.

The banker will give you your account number and routing number before you leave. You can use online banking to access the account that same day, though a physical debit card may take five to seven business days to arrive by mail.

Choosing between Chase savings account types

Chase offers several savings accounts with different features and costs. Chase Savings has no minimum opening deposit and no monthly fee if you maintain a $300 minimum balance or have a linked Chase checking account. If your balance falls below $300 and you do not have a linked checking account, Chase charges $5 per month.

Chase Premier Savings requires a higher minimum balance — typically $10,000 — but offers a higher interest rate. The monthly fee is $25 if your balance drops below the minimum, unless you have a linked Chase checking account. This account makes sense if you have money to set aside and want to earn more interest.

Chase find Savings is designed for people building credit or with limited banking history. It requires a $300 deposit that serves as collateral for a linked secured loan. This account has no monthly fee and can help you build a credit history, though the interest rate is lower than other Chase savings accounts.

Compare the interest rates on Chase's website before you open — rates change and vary by account type. The difference between 0.01% and 4.5% annual percentage yield (APY) is significant over time, especially if you plan to keep a large balance in savings.

What happens after you open your account

Once your account is open, you can log into Chase.com or the Chase mobile app using your username and password. You will see your account number, current balance, and transaction history. You can transfer money between your Chase accounts, set up automatic transfers, and view your interest earnings.

If you ordered a debit card, it will arrive by mail within five to seven business days. You can use the card to withdraw money at any Chase ATM or at other banks' ATMs (though out-of-network ATM fees may explore). You can also withdraw cash at any Chase branch by showing your ID.

Chase sends monthly statements by email or mail, depending on your preference. You can change this in your account settings. The statement shows your opening balance, deposits, withdrawals, interest earned, and any fees charged.

If your balance falls below the monthly minimum, Chase will charge the maintenance fee on the last day of the month. You can avoid this by keeping the minimum balance, linking a Chase checking account, or setting up a monthly automatic transfer from another account to stay above the threshold.

Linking your Chase savings account to other accounts

If you have a Chase checking account, you can link it to your new savings account within Chase online banking. This takes a few minutes and lets you transfer money between the two accounts when ready. Linking also waives the monthly maintenance fee on most Chase savings accounts, even if your balance drops below the minimum.

You can also link external accounts — savings or checking accounts at other banks. Chase will ask for the account number and routing number. To verify the external account, Chase deposits two small amounts (usually under $1 each) into that account. You will need to log into the other bank's website and confirm the amounts to complete the link. This verification takes one to two business days.

Once linked, you can transfer money from your Chase savings account to the external account, or from the external account into Chase. External transfers typically take one to three business days to complete. You can set up recurring transfers — for example, $50 every Friday — to automate your savings.

Frequently Asked Questions

Do I need a Chase checking account to open a savings account?

No. You can open a Chase savings account without a checking account. However, linking a checking account waives the monthly maintenance fee on most savings accounts, so it can save you money if you plan to keep a low balance.

What is the minimum opening deposit for Chase savings?

Chase Savings requires $0 to open. Chase Premier Savings typically requires $10,000. Chase find Savings requires $300. The exact minimum varies by state and account type, so check Chase.com for your location.

How long does it take to open a Chase savings account online?

The signup process takes 10 to 15 minutes. Identity verification happens when ready. Your account is active the same day, though transfers from external banks may take one to three business days to post.

Can I open a Chase savings account if I do not have a Social Security number?

Chase requires a Social Security number or Individual Taxpayer Identification Number (ITIN) to open an account. If you have an ITIN, you can open an account online or at a branch using that number instead.

What happens if I do not meet the minimum balance requirement?

Chase charges a monthly maintenance fee — typically $5 for Chase Savings or $25 for Chase Premier Savings — if your balance falls below the minimum. You can avoid the fee by maintaining the minimum balance, linking a Chase checking account, or setting up automatic transfers to stay above the threshold.