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 fastest route is usually online — it takes about 10 minutes and you can fund the account when ready. You will need a valid government ID (a driver's license, passport, or state ID card), your Social Security number, and an initial deposit.
Chase requires a minimum opening deposit that varies by account type. For most basic savings accounts, this is $0 — you can open the account and add money later. Some accounts have higher minimums, but Chase clearly states the requirement before you commit. You will also need a way to fund the account: either a debit card, a bank account at another bank, or cash if you go to a branch in person.
If you do not have a Social Security number yet, you can still open an account, but you will need to provide an Individual Taxpayer Identification Number (ITIN) instead. Chase can walk you through this when you start the process.
Key Takeaways
- You need a valid government ID, your Social Security number, and an initial deposit to open a Chase savings account.
- Opening online takes about 10 minutes, and you can fund the account right away with a debit card or transfer from another bank.
- Chase has different savings account types with different features — the basic option has no monthly fee if you keep a small balance or set up direct deposit.
- After opening, you can add money through transfers, direct deposit, or by depositing checks through the mobile app.
Opening an account online
Go to chase.com and look for the "Open an Account" button, usually near the top of the page. You will be asked to choose which type of savings account you want — Chase offers a basic savings account and a few versions with higher interest rates. The basic option is fine if you are just starting out. Click through and enter your personal information: name, address, date of birth, and Social Security number.
Chase will ask you to verify your identity by answering questions about your credit history. These are security questions only Chase can answer — they check your credit file to make sure you are who you say you are. You do not need good credit to pass this step; Chase is just confirming your identity. If you cannot answer the questions (for example, if you have no credit history), you can verify by uploading a photo of your ID instead.
Once you pass identity verification, you will set up a username and password for online banking, then choose how to fund the account. You can transfer money from another bank account or use a debit card. The transfer usually shows up within one to two business days. After that, your account is open and ready to use.
Opening an account in person at a branch
If you prefer to open an account face-to-face, bring your government ID, Social Security number, and initial deposit to any Chase branch. A banker will walk you through the process, which takes about 15 to 20 minutes. This is a good option if you are not comfortable with online banking yet or if you want to ask questions as you go.
Bring cash, a debit card, or a checkbook from another bank if you want to fund the account during your visit. If you bring cash, the banker will deposit it on the spot. If you use a debit card or check, the deposit may take one to two business days to appear in your account.
Opening an account by phone
You can also call Chase at 1-800-935-9935 to open a savings account. A representative will guide you through the same questions as the online process. You will still need to verify your identity, and you will need to fund the account afterward — the phone representative cannot take a payment directly, but they can tell you how to transfer money once your account is open.
This option takes longer than opening online (usually 20 to 30 minutes) but can be helpful if you have questions or need someone to explain the process step by step.
What happens after you open the account
Once your account is open, you will receive a debit card in the mail within 7 to 10 business days. You can use this card to withdraw money from Chase ATMs or to make purchases, though most people use a savings account mainly for storing money rather than spending from it. You will also get online banking access right away — you can log in to chase.com or use the Chase mobile app to check your balance, transfer money, and deposit checks by taking a photo.
Your account will have a routing number and account number, which you can find in the online banking portal or on any checks Chase sends you. You can give these numbers to your employer if you want to set up direct deposit, or to anyone else who needs to send you money electronically.
Understanding Chase savings account features
Chase savings accounts earn interest, which means the bank pays you a small amount of money based on how much you have in the account. The interest rate changes over time and varies depending on which type of account you open. You can see the current rate on chase.com before you open the account.
Most Chase savings accounts have no monthly fee as long as you keep a minimum balance (often $300 or less) or set up direct deposit. If your balance drops below the minimum, you may be charged a monthly maintenance fee of around $5. You can avoid this by keeping the minimum balance or by setting up direct deposit from your paycheck.
Chase also offers overdraft protection, which means if you accidentally spend more than you have in your account, Chase can transfer money from your savings account to cover it. This costs a small fee but prevents your transaction from being rejected. You can turn this feature on or off in your online banking settings.
Frequently Asked Questions
Do I need a Chase checking account to open a savings account?
No. You can open a savings account at Chase without having a checking account. Many people keep their savings at Chase and their checking account elsewhere, or vice versa. The two accounts are separate.
How long does it take to open an account online?
The process itself takes about 10 minutes. Identity verification is usually when ready, but can take up to 24 hours in some cases. Once you are approved, you can fund the account and start using it right away.
What if I do not have a Social Security number?
You can open an account with an Individual Taxpayer Identification Number (ITIN) instead. You will need to provide this during the process. Chase can explain the process when you start opening the account online or by calling 1-800-935-9935.
Can I open a savings account if I have had banking problems in the past?
Chase does not run a traditional credit check to open a savings account. They do check ChexSystems, a banking history database, to see if you have had serious issues like fraud or unpaid overdrafts at other banks. If you have a history with Chase or another bank, be honest about it — many people with past banking problems can still open accounts.
What is the minimum deposit to open a Chase savings account?
Most Chase savings accounts have a $0 minimum opening deposit, meaning you can open the account and add money later. Some higher-yield accounts may have a minimum, but Chase tells you this before you finish the process. Check the account details on chase.com to see the specific requirement for the account you are interested in.