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 a way to fund the account — either a debit card, another bank account, or cash if you go to a branch. If you are opening an account for someone under 18, a parent or guardian must be present or complete the process with you.

Chase offers several savings account types, each with different minimum balances and interest rates. The most common are Chase Savings, Chase Premier Savings, and Chase Sapphire Savings. The differences matter mainly if you plan to keep a large balance or want higher interest rates — Chase Sapphire Savings, for example, requires a $10,000 minimum balance but pays more interest than the standard Chase Savings account.

Before you choose, check Chase's current rates and minimum balance requirements on their website. These change, and what matters most depends on how much you plan to keep in the account and whether you want to link it to a checking account for transfers.

Key Takeaways

  • You can open a Chase savings account online in about 10 minutes, or in a branch with your ID and Social Security number.
  • Chase offers three main savings account types with different minimum balances and interest rates, so compare them before you choose.
  • You will need to fund the account when ready — either from a debit card, another bank account, or cash at a branch.
  • Once your account is open, you can set up automatic transfers from a checking account or link it to Chase bill pay and mobile transfers.

Opening online through Chase.com

Go to Chase.com and click "Open an Account" or "Savings" in the main menu. Select the savings account type you want, then click "Open Now" or "get your free guide." Chase will ask for your name, address, date of birth, Social Security number, and email address. This takes about five minutes.

Next, Chase will ask you to verify your identity. If you have an existing Chase account, this is when ready — they already have your information. If you do not, Chase will ask security questions based on your credit history, or they may ask you to upload a photo of your ID. This step usually takes a few minutes but can take up to 24 hours if Chase needs to verify details.

Once you pass identity verification, you will choose how to fund the account. You can link a debit card from any bank, connect another bank account for an electronic transfer, or choose to fund it later. If you link a debit card, the money moves within minutes. If you use a bank transfer, it typically takes one to three business days. After funding, your account is active and you can start using it when ready.

Opening in a Chase branch

Walk into any Chase branch with your government-issued ID and Social Security number. Tell the banker you want to open a savings account. They will ask the same questions as the online process — name, address, date of birth, Social Security number — and show you the account options on their computer.

Once you choose an account type, the banker will ask how you want to fund it. You can use a debit card, transfer from another account, or deposit cash on the spot. If you deposit cash, your account is funded when ready. If you use a debit card or transfer, the same timing applies as online — minutes for a card, one to three business days for a bank transfer.

The banker will give you a temporary debit card or direct you to set up one online. You will also receive information about online banking and mobile app access. The whole process takes 15 to 30 minutes in the branch.

What happens after your account opens

Your savings account is active as soon as funding clears. You can deposit money through Chase ATMs, mobile deposit (taking a photo of a check), transfers from another account, or direct deposit if your employer uses Chase. You can also withdraw money at any Chase ATM or branch, though some account types limit the number of withdrawals per month.

Chase will send you a debit card in the mail within 7 to 10 business days if you did not get one in the branch. You can use this card to withdraw money at ATMs but not to make purchases — savings accounts are not meant for everyday spending. If you want to move money between your Chase savings and checking accounts, you can set up transfers in the Chase mobile app or online banking, and they happen when ready.

Interest on your balance starts accruing the day your account opens. Chase pays interest monthly, and the amount depends on the account type and the current interest rate. You can see your interest earnings in your account statement each month.

Linking your savings account to other services

Once your savings account is open, you can link it to Chase checking, bill pay, Zelle (for sending money to other people), and mobile transfers. To set up a link, log into your Chase account online or in the mobile app, go to "Accounts," and select the savings account. Look for options to "Link Accounts" or "Set Up Transfers."

Transfers between your own Chase accounts happen when ready and are free. If you want to send money to someone else's account, you can use Zelle through Chase, which also moves money when ready if the other person banks with a Zelle-participating bank. If they do not, the transfer takes one to three business days.

You can also set up automatic transfers — for example, moving $50 from checking to savings every payday. This is useful if you want to build savings without thinking about it. Set this up in the mobile app under "Transfers" or on the website under "Scheduled Transfers."

Fees and limits to know about

Chase Savings and Chase Premier Savings have no monthly maintenance fee. Chase Sapphire Savings charges $25 per month unless you keep a $10,000 minimum balance, which waives the fee. All three accounts are free to open and have no minimum opening deposit, though some account types ask you to fund them with at least $25 or $100.

Federal law limits savings account withdrawals to six per month (though this rule is not always enforced). If you exceed this limit, Chase may charge a fee or convert your account to a checking account. This matters mainly if you plan to withdraw money frequently — if you are using it as a true savings account, you will not hit this limit.

There are no fees for deposits, transfers between your own accounts, or ATM withdrawals at Chase ATMs. Using an ATM outside the Chase network may cost you a fee from that ATM's bank, though Chase reimburses some out-of-network ATM fees depending on your account type.

If you already have a Chase checking account

If you bank with Chase already, opening a savings account is faster. Log into your existing online banking or mobile app, go to "Open an Account" or "Products," and select "Savings." Chase will skip the identity verification step because they already have your information. You can fund the new savings account by transferring from your checking account, and the whole process takes about five minutes.

Once open, your savings account will appear alongside your checking account in your online banking dashboard. You can transfer money between them when ready, set up automatic transfers, and manage both accounts from one login. This is one reason many people open both a checking and savings account with the same bank — it makes moving money between them straightforward.

Frequently Asked Questions

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

Online, the account opens in about 10 minutes if you have an existing Chase account, or up to 24 hours if Chase needs to verify your identity. In a branch, it takes 15 to 30 minutes. Your account is active when ready, but funding may take one to three business days depending on how you deposit money.

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

No. Chase requires a Social Security number or Individual Taxpayer Identification Number (ITIN) to open any account. This is a federal requirement for all banks, not just Chase.

What is the difference between Chase Savings and Chase Sapphire Savings?

Chase Sapphire Savings pays higher interest but requires a $10,000 minimum balance and charges a $25 monthly fee if you fall below that. Chase Savings has no minimum balance and no monthly fee but pays lower interest. Choose based on how much you plan to keep in the account.

Can I open a savings account for my child?

Yes. For children under 18, a parent or guardian must open the account with them, either online or in a branch. Chase offers Chase First Banking for ages 6 to 17, which includes a savings component and teaches money management.

How do I move money from my Chase savings account to another bank?

Log into your Chase account online or in the mobile app, go to "Transfers," and select "Transfer to External Account." You will need the other bank's routing number and your account number there. The transfer typically takes one to three business days.