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 fastest route is usually online — it takes about 10 minutes and you can fund the account the same day. You will need a government-issued photo ID (a driver's license, passport, or state ID card), your Social Security number, and an initial deposit.
The initial deposit amount depends on which savings account you choose. Some Chase savings accounts require a minimum opening deposit of $0, while others ask for $25 or more. Once the account is open, there is no monthly fee on most Chase savings accounts, though some accounts have a minimum balance requirement to avoid a monthly charge. Chase will tell you the exact requirement for whichever account type you select.
If you do not have a government ID yet, you can still open an account in person at a branch with other documents — bring your Social Security card, a utility bill or lease showing your current address, and ask the banker what else they need. Online and phone openings require a photo ID.
Key Takeaways
- You can open a Chase savings account online in about 10 minutes, at a branch in person, or by phone, and you will need a photo ID, your Social Security number, and an initial deposit.
- The minimum opening deposit varies by account type but starts at $0 for some accounts and $25 for others.
- Most Chase savings accounts have no monthly fee, though some require you to keep a minimum balance to avoid a charge.
- If you already have a Chase checking account, opening a savings account takes even less time because Chase already has your information on file.
- You can link your savings account to a checking account at Chase or elsewhere, which makes it straightforward to move money between them.
Opening a savings account online
Go to Chase.com and look for the "Open an Account" button, usually near the top of the page. Select "Savings" when prompted to choose an account type. You will see several savings account options — Chase offers accounts with different interest rates and features, so read the description of each one to see which fits your situation.
Enter your personal information: full name, date of birth, Social Security number, address, phone number, and email. Chase will ask for your photo ID — you can upload an image of it or answer security questions instead. Then provide your initial deposit amount and choose how to fund it. You can link a bank account you already have (from any bank) and transfer money, or provide a debit card number.
Review the account agreement, which explains the rules and fees. Check the box to confirm you agree, and submit. Chase will send a confirmation email within minutes. Your account is usually ready to use right away, though if you linked an outside bank account, the transfer may take one to three business days to arrive.
Opening a savings account at a Chase branch
Find the nearest Chase branch using the branch locator on Chase.com. Walk in during business hours and tell a banker you want to open a savings account. Bring your photo ID, Social Security number (you can write it on a piece of paper if you do not have your card), and decide how much you want to deposit to start.
The banker will ask you the same questions as the online form — name, address, date of birth, and which savings account type you want. They will explain the features and fees of each account. Once you choose, they will print the account agreement for you to sign, process your initial deposit, and give you a receipt with your new account number.
You will leave with a debit card process form (if you want one) and information about online banking. Your account is active when ready, and you can start using it the same day. If you want to move money from another bank into your new Chase savings account, the banker can help you set up a transfer.
Opening a savings account by phone
Call Chase at 1-800-935-9935 to open a savings account over the phone. A representative will walk you through the same process as the online form. Have your photo ID and Social Security number ready, and know how much you want to deposit to start.
The representative will ask your personal information, explain the account options, and help you choose. They will take your initial deposit information — either a bank account to transfer from or a debit card number. Once you agree to the account agreement terms, your account opens when ready and you will receive a confirmation number.
Chase will mail you information about your account, including how to set up online banking and your debit card if you requested one. You can start using the account right away, even before the card arrives.
What happens after you open the account
Once your account is open, Chase will send you a welcome packet in the mail with your account number, information about online banking, and a debit card (if you requested one). You can log into your Chase account online or through the mobile app to see your balance, make transfers, and set up automatic deposits.
If you linked your savings account to a checking account — either at Chase or at another bank — you can move money between them whenever you need to. Transfers between your own accounts at Chase happen when ready. Transfers to or from accounts at other banks usually take one to three business days.
You can also set up direct deposit into your savings account, which means your employer or benefits provider can send money directly to this account instead of a checking account. Ask your employer or benefits office for the account and routing number from your Chase welcome packet.
If you already have a Chase checking account
If you are already a Chase customer with a checking account, opening a savings account is faster. Log into your online banking or mobile app, look for "Open an Account" or "Add an Account," and select savings. Chase already has your information on file, so you will only need to choose which savings account type you want and how much to deposit.
Your new savings account will be linked to your existing checking account automatically, so you can move money between them when ready through online banking. You will not need to provide ID or Social Security number again — Chase has that already.
Choosing between Chase savings account types
Chase offers several savings accounts with different interest rates and features. The main difference is how much interest your money earns. Interest is money the bank pays you for keeping your money there — the higher the interest rate, the more you earn.
Some Chase savings accounts have higher interest rates but require you to keep a larger minimum balance. Others have lower interest rates but no minimum balance requirement. When you open an account, Chase will show you the current interest rate for each type. Interest rates change over time, so the rate you see today may be different in a few months.
If you are not sure which account is right for you, ask the banker or representative which account has no minimum balance requirement and the highest current interest rate. That is usually the best choice for someone just starting out.
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 without having any other Chase account. However, if you already have a Chase checking account, the process is faster because Chase already has your information.
Can I open a savings account if I do not have a Social Security number?
You will need a Social Security number or an Individual Taxpayer Identification Number (ITIN) to open a savings account at Chase. If you do not have either, visit your local Social Security office or the IRS website to learn how to get one.
What is the minimum balance I need to keep in the account?
It depends on which savings account type you choose. Some Chase savings accounts have no minimum balance requirement. Others require you to keep a certain amount (like $300 or $500) to avoid a monthly fee. Chase will tell you the requirement for your specific account when you open it.
How long does it take to open an account online?
Opening a Chase savings account online usually takes 10 to 15 minutes. Your account is active when ready, though if you are funding it with a transfer from another bank, that money may take one to three business days to arrive.
Can I close my savings account if I change my mind?
Yes. You can close your Chase savings account at any time by visiting a branch, calling Chase, or using online banking. If you have money in the account, Chase will send it to you by check or transfer it to another account you specify.