What you need to open a Chase savings account
You can open a Chase savings account online, by phone, or in person at a branch. The process takes about 10 to 15 minutes if you do it online, and you'll need a few pieces of information ready before you start: a valid government-issued ID (driver's license, passport, or state ID), your Social Security number, and an initial deposit.
Chase requires a minimum opening deposit, though the amount varies by account type and changes periodically. Check the current requirement on Chase's website or call 1-800-935-9935 before you begin, so you know exactly what to have on hand. You can fund the account with a debit card, transfer from another bank account, or bring cash to a branch.
If you're opening the account online, you'll also need a valid email address and a phone number where Chase can reach you. The bank will send you a verification code by text or email during the setup process.
Key Takeaways
- You need a government ID, Social Security number, and an initial deposit to open a Chase savings account.
- Online account opening takes 10 to 15 minutes and lets you fund the account when ready with a debit card or bank transfer.
- Chase's minimum opening deposit amount varies by account type and changes over time, so confirm the current requirement before you start.
- You can also open an account by phone at 1-800-935-9935 or in person at any Chase branch if you prefer not to do it online.
- Once your account is open, you'll receive a debit card in the mail within 7 to 10 business days.
Opening your account online
Go to chase.com and look for the "Open an Account" button, usually on the homepage or in the top navigation. Select "Savings Account" from the account types shown. Chase will ask you to choose which savings product you want—the basic Chase Savings, Chase Premier Savings (which requires a higher balance), or another variant. Read the interest rate and features for each before you choose, because they differ in how much interest you earn and what fees explore.
Fill in your personal information: full name, date of birth, address, phone number, and email. Chase will ask for your Social Security number and driver's license or state ID number. You'll need to verify your identity by answering security questions based on your credit history, or by uploading a photo of your ID. This step usually takes a few minutes.
Next, you'll set up your login credentials—a username and password for online banking. Chase will also ask whether you want to set up a PIN for phone banking. Once that's done, you'll fund the account. You can transfer money from another bank account (you'll need the routing and account number), use a debit card, or, if you're opening the account at a branch, deposit cash.
After you submit everything, Chase will show you a confirmation number and send a confirmation email. Your account is active when ready, though transfers from other banks can take one to three business days to appear. Your debit card will arrive by mail in 7 to 10 business days.
Opening your account by phone or in person
If you prefer to talk to someone, call Chase at 1-800-935-9935. A representative will walk you through the same information—your ID, Social Security number, address, and initial deposit method. They can answer questions about which savings product fits your needs and explain the current interest rate and fees. The call usually takes 15 to 20 minutes.
Opening an account in person at a Chase branch is the slowest route but useful if you want to deposit cash when ready or prefer face-to-face help. Bring your government ID, Social Security number, and the cash or debit card you plan to use for your opening deposit. A banker will complete the paperwork, verify your identity, and fund the account while you're there. Your debit card will still arrive by mail later.
What happens after you open the account
Your savings account is ready to use as soon as the online process completes or you leave the branch. You can log into online banking or the Chase mobile app right away to see your balance, make transfers, and set up bill pay. If you funded the account with a transfer from another bank, that money will show as pending for one to three business days depending on the other bank's processing time.
Your physical debit card arrives in the mail within 7 to 10 business days. Until it arrives, you can still withdraw money from your savings account at any Chase ATM using your temporary digital card in the mobile app, or by visiting a branch with your ID. You can also transfer money out to another account you own at a different bank.
Chase will send you a welcome packet by mail with your account number, routing number, and information about the interest rate, fees, and account terms. Keep this for your records—you'll need the routing and account number if you want to set up direct deposit or automatic transfers.
Understanding Chase savings account fees and interest
Chase charges a monthly maintenance fee on most savings accounts, though the amount varies by account type. Some accounts waive the fee if you maintain a minimum balance (usually $300 to $500) or set up direct deposit. Check the fee schedule for the specific account you're opening so you know what to expect.
The interest rate Chase pays on savings accounts changes frequently and is typically lower than rates at online-only banks. Chase publishes its current rates on the account details page before you open the account. The interest compounds daily and posts to your account monthly, so you earn a small amount of interest on your balance each month.
If your balance drops below the minimum required to waive the monthly fee, Chase will charge the fee automatically. You can avoid this by keeping the minimum balance, setting up direct deposit, or moving to a different account type that has lower requirements.
Linking your Chase savings account to other accounts
Once your account is open, you can link it to other bank accounts you own—at Chase or elsewhere—to move money between them. Log into online banking, go to "Transfers," and select "Link an Account." You'll enter the routing number and account number of the other bank account. Chase will verify the link by depositing two small amounts (usually under $1) into that account, then asking you to confirm the amounts. This process takes one to two business days.
After the link is verified, you can transfer money between your Chase savings account and the linked account when ready (if it's another Chase account) or within one to three business days (if it's at a different bank). You can also set up automatic transfers on a schedule—for example, moving $50 from your checking account to savings every payday.
Frequently Asked Questions
Can I open a Chase savings account if I don't have a Social Security number?
No. Chase requires a valid Social Security number to open any deposit account. If you have an Individual Taxpayer Identification Number (ITIN) instead, you may be able to open an account, but you'll need to visit a branch in person and bring additional documentation. Call 1-800-935-9935 to ask about ITIN accounts before you go.
What's the difference between Chase Savings and Chase Premier Savings?
Chase Premier Savings requires a higher minimum balance (usually $25,000 or more) but pays a slightly higher interest rate and may have lower or waived fees. Chase Savings has a lower opening deposit and lower balance requirements but earns less interest. Choose based on how much money you plan to keep in the account and whether you want to earn more interest.
Can I open a savings account for someone else, like a child?
You can open a custodial savings account for a minor if you're their parent or legal guardian. You'll need the child's Social Security number and birth date in addition to your own information. Visit a Chase branch or call 1-800-935-9935 to ask about custodial account options, as they have different rules and features than regular savings accounts.
How long does it take to access my money after I open the account?
Your account is active when ready, so you can transfer money out or make withdrawals at a Chase ATM or branch right away. If you funded the account with a transfer from another bank, that deposit will be pending for one to three business days. Your debit card arrives by mail in 7 to 10 business days, but you can use a temporary digital card in the mobile app until then.
What if I need to close my savings account later?
You can close your Chase savings account online, by phone, or in person at any time. Call 1-800-935-9935 or log into online banking and look for account closure options. Make sure your balance is zero before you close—Chase will send any remaining balance to you by check or transfer it to another account you specify.