You can open a Chase savings account online in about 10 minutes, or in a branch if you prefer to speak with someone

Chase offers several types of savings accounts, each with different interest rates and minimum balance requirements. The most common option is the Chase Savings Account, which requires a $25 minimum opening deposit. You can start the process on Chase.com, through the Chase mobile app, or by walking into a branch. Online is fastest — you'll need a valid government ID, Social Security number, and an initial deposit method (debit card, bank transfer, or wire). If you open online, your account is usually ready to use within minutes, though it can take a few business days for transfers to process.

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 them together so money moves easily between the two. If you're new to Chase entirely, the process is slightly longer but still straightforward — you'll answer questions about your identity and income, and Chase will verify your information against public records.

Key Takeaways

  • Chase savings accounts require a $25 minimum opening deposit, which you can fund with a debit card, bank transfer, or wire transfer.
  • Opening online through Chase.com or the mobile app is the fastest route and takes about 10 minutes; you'll need a valid ID and Social Security number.
  • If you already bank with Chase, you can open a linked savings account in minutes because your identity is already verified.
  • Interest rates on Chase savings accounts are typically lower than online-only banks, so compare rates if earning interest is your main goal.
  • You can make deposits and withdrawals at any Chase branch or ATM, or transfer money online anytime.

What documents and information you need before you start

Gather these items before you begin, whether you're opening online or in a branch. You'll need a valid government-issued ID — a driver's license, passport, or state ID card. Chase will also ask for your Social Security number to verify your identity and check for fraud. Have your phone number and email address ready, because Chase will use these to send you account confirmations and security alerts.

If you're funding the account with a debit card, have that card number handy. If you're transferring money from another bank, you'll need the routing number and account number of that bank account. The routing number is usually printed on the bottom left of your checks, or you can find it on your bank's website. If you don't have another account to transfer from, you can bring cash or a check to a Chase branch and deposit it there after your account opens.

Opening your account online through Chase.com or the app

Go to Chase.com and click "Open an Account" or open the Chase mobile app and select "Open a Savings Account." You'll be asked to choose which type of savings account you want — the standard Chase Savings Account is the most common choice. Enter your name, date of birth, address, phone number, and email. Chase will then ask for your Social Security number and verify your identity by checking public records. This usually happens when ready, though sometimes Chase asks follow-up questions about your address history or previous accounts.

Next, you'll set up your login credentials and choose a PIN for in-branch transactions. Then you'll fund the account with your $25 minimum deposit. Choose your funding method: debit card, transfer from another bank account, or wire transfer. If you use a debit card, the money appears in your Chase account when ready, though it may take a few business days to fully clear. If you transfer from another bank, it typically takes one to three business days. Once you confirm everything, your account number is generated and you can start using your account right away.

Opening an account in a Chase branch

Walk into any Chase branch during business hours and tell a representative you want to open a savings account. They'll ask for your ID and Social Security number, then walk you through the same questions you'd answer online. The advantage of opening in person is that a representative can explain the different account types and answer questions about fees or interest rates. They can also help you set up online and mobile banking on the spot, and you can make your first deposit when ready — cash, check, or debit card.

Branch opening usually takes 15 to 30 minutes because the representative enters your information by hand and may need to verify details. If the branch is busy, you might wait. You can call ahead to ask when they're least crowded, or use Chase's branch locator on their website to find the nearest location and check hours.

Linking your new savings account to an existing Chase checking account

If you already have a Chase checking account, you can link your new savings account to it during the opening process, or add the link afterward. Linking means you can transfer money between the two accounts when ready through online banking or the app, without waiting for a transfer to process. This is useful if you want to move money quickly or set up automatic transfers to build your savings.

To link accounts after opening, log into your Chase online banking or app, go to "Accounts," and select "Link Accounts." Choose your checking account and your new savings account, and Chase will verify the link within a few minutes. You can then set up automatic transfers — for example, moving $50 from checking to savings every payday. You can change or cancel automatic transfers anytime.

What happens after your account opens

Your account is active when ready after you complete the online or in-branch process. You can start making deposits and withdrawals right away. If you funded your account with a debit card or transfer, check your account to confirm the money arrived. Debit card deposits show up when ready; transfers from other banks take one to three business days.

Chase will send you a debit card for your savings account within 7 to 10 business days. Until it arrives, you can withdraw money at any Chase ATM using your account number and PIN, or visit a branch. You can also transfer money online to another account or request a wire transfer. Interest on your savings balance is calculated daily and deposited monthly — the current rate varies, so check Chase.com for the rate on the specific account type you opened.

Fees and things that cost money

Chase savings accounts have no monthly maintenance fee, which means you won't be charged just for having the account open. However, there are a few actions that do cost money. If you make more than six withdrawals or transfers out of your savings account in a calendar month, Chase charges $10 for each withdrawal or transfer over six. This includes transfers to other accounts, checks written against savings, and ATM withdrawals. Transfers between your own Chase accounts (checking to savings, for example) do not count toward this limit.

If your balance drops below $25, Chase does not close your account, but you'll earn no interest. If you overdraft your account — try to withdraw more than you have — Chase charges an overdraft fee of $35 per transaction. You can turn off overdraft protection to prevent this, which means transactions will be declined instead of charged a fee. To avoid fees, keep your balance above $25 and limit withdrawals to six per month.

Frequently Asked Questions

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

No. Chase requires a Social Security number to verify your identity and comply with federal banking rules. If you don't have a Social Security number, you may be able to open an account with an Individual Taxpayer Identification Number (ITIN), but you'll need to visit a branch in person and bring additional documentation. Call your local Chase branch to ask what documents they'll accept.

How long does it take to receive my debit card?

Chase mails debit cards within 7 to 10 business days of account opening. Until it arrives, you can withdraw money at Chase ATMs using your account number and PIN, or visit a branch. If you need the card faster, ask a branch representative whether they can issue a temporary card on the spot.

What's the difference between Chase Savings and Chase Savings Plus?

Chase Savings Plus requires a higher minimum balance (usually $500 or more) but offers a slightly higher interest rate. Chase Savings is the standard account with a $25 minimum. Compare current rates on Chase.com to see which makes sense for your situation. You can always start with regular Savings and upgrade later.

Can I have multiple savings accounts with Chase?

Yes. You can open as many savings accounts as you want and give each one a nickname to track what you're saving for — one for emergencies, one for vacation, one for a car, for example. Each account has its own interest rate and withdrawal limits. This can help you organize your savings, but remember that the six-withdrawal limit applies to all your savings accounts combined each month.

What if I want to close my savings account later?

You can close your Chase savings account anytime by visiting a branch, calling Chase customer service, or using the mobile app. If you have a balance, Chase will send you a check or transfer the money to another account you specify. There's no penalty for closing an account, but make sure you've withdrawn all your money first or told Chase where to send it.