What You Need Before You Start

Chase lets you open a savings account online, by phone, or in a branch. You will need a government-issued photo 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 if you open in person.

Have your ID and Social Security number ready before you begin, whether you are opening online or walking into a branch. If you plan to transfer money from another bank account, you will also need the routing number and account number from that bank. Opening takes about 10 to 15 minutes online or on the phone, or 20 to 30 minutes in a branch if there is a wait.

Key Takeaways

  • Chase offers several savings account types with different minimum balances and interest rates, so compare them before opening to find the one that fits your situation.
  • You can open online at chase.com, by calling 1-800-935-9935, or in any Chase branch with your ID and Social Security number.
  • Your account is usually active within one business day if you open online, though transfers from other banks may take three to five business days to clear.
  • Chase savings accounts are insured by the FDIC up to $250,000, so your money is protected even if the bank fails.

Opening Online at Chase.com

Go to chase.com and look for the "Open an Account" button, usually near the top of the page. Select "Savings" from the account type menu. You will be asked to choose which savings account product you want — Chase offers the Chase Savings Account and the Chase Premier Savings Account, which have different interest rates and minimum balance requirements. Read the current rates and fees for each before you choose, because they change.

Enter your personal information: full name, date of birth, address, phone number, and email. Provide your Social Security number. Upload or take a photo of your government ID using your phone or computer camera. Chase will verify your identity using the information you provide. If you have an existing Chase checking account, the process is faster because Chase already has some of your information on file.

Choose your initial deposit method. You can link a bank account at another institution and transfer money, use a debit card, or if you are opening a Chase checking account at the same time, move money between them. Enter the amount you want to deposit. Review the account terms and fee schedule, then sign electronically. Your account opens when ready, though the deposit may take a few business days to appear if you are transferring from another bank.

Opening by Phone or in a Branch

Call Chase at 1-800-935-9935 to open a savings account over the phone. Have your ID, Social Security number, and initial deposit method ready. A representative will walk you through the same questions as the online form and can answer questions about which account type makes sense for you. The call usually takes 15 to 20 minutes. Your account opens the same day, and you will receive a confirmation number and temporary account number before the call ends.

To open in a Chase branch, bring your government-issued photo ID, your Social Security number, and your initial deposit. Walk up to any available banker or ask at the desk for someone who can open a new account. They will show you the different savings account options, help you choose, and complete the paperwork. You will leave with a debit card process (which takes five to seven business days to arrive) and your account number. You can start using your savings account online or by phone the same day.

What Happens After You Open Your Account

Your savings account is active when ready after you open it, whether online, by phone, or in branch. You can log into Chase.com or the Chase Mobile App using your username and password to see your account and make transfers. If you opened online and did not receive a debit card process, you can request one through the app or by calling customer service.

If you transferred money from another bank, that transfer usually clears within three to five business days. Chase will send you a welcome packet by mail with your account agreement and fee schedule. Read the fee schedule carefully — Chase charges a monthly maintenance fee on some savings accounts if you do not maintain a minimum balance, though the fee is waived if you have a may have access to Chase checking account or meet other conditions.

Set up online transfers between your Chase savings account and any other bank account you own. You can also set up automatic transfers on a schedule — for example, moving $50 from checking to savings every payday. These transfers are free and usually process the next business day.

Understanding Chase Savings Account Types

Chase offers two main savings products. The Chase Savings Account is the basic option with no minimum opening deposit and a lower interest rate. The Chase Premier Savings Account requires a higher opening deposit (usually $25,000 or more, though this varies) and pays a higher interest rate. Both are FDIC-insured up to $250,000.

Interest rates on both accounts change regularly based on market conditions. Check chase.com for current rates before you open, because the rate you see when you open is the rate you will earn. You can move money between your Chase savings and checking accounts without penalty, and you can withdraw money whenever you need it — there is no lock-in period.

If you have a Chase checking account, opening a savings account at the same time may may have access to you for a fee waiver or bonus offer. Ask the banker or representative what current offers are available, because these change seasonally.

Funding Your Account and Making Your First Deposit

You can fund your Chase savings account four ways: with a debit card, by transferring from another bank, with cash in a branch, or by transferring from an existing Chase account. Debit card deposits and transfers from other Chase accounts process when ready. Transfers from banks outside the Chase system take three to five business days because the money has to move through the banking network.

If you are transferring from another bank, you will need that bank's routing number and your account number with them. Chase will ask you to verify the transfer by confirming a small deposit (usually under $1) that the other bank sends to your Chase account — this takes one to two business days. Once verified, future transfers from that account are faster.

You do not have to make your full opening deposit all at once. If you opened with $25 and want to add more later, you can transfer or deposit additional money anytime. There is no limit on how many deposits you can make or how much you can save.

Frequently Asked Questions

How long does it take for my Chase savings account to be ready to use?

Your account is ready to use when ready after you open it. You can log in online or through the app the same day. If you made a deposit from another bank, that money takes three to five business days to arrive, but your account itself is active right away.

Can I open a Chase savings account without a Social Security number?

Chase requires a Social Security number or ITIN (Individual Taxpayer Identification Number) to open any account. If you do not have either, you will need to obtain one before opening. Chase cannot open an account without it.

What is the difference between a Chase savings account and a money market account?

Chase savings accounts are simpler — you deposit money, earn interest, and withdraw whenever you want. Money market accounts usually require a higher minimum balance and may limit how many withdrawals you can make per month, but they often pay higher interest rates. Compare the current rates and terms on chase.com to see which fits your needs.

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

No. You can open a Chase savings account on its own without a checking account. However, having both accounts together may may have access to you for fee waivers or promotional offers, so ask about current incentives when you open.

Is my money safe in a Chase savings account?

Yes. Chase is a member of the FDIC (Federal Deposit Insurance Corporation), which means your savings account is insured up to $250,000. If Chase fails, the FDIC protects your money. This protection applies to each account type separately, so you have $250,000 of coverage in your savings account and another $250,000 in a checking account.