What you need to bring and where to start
You can open a Wells Fargo savings account either online, by phone, or in person at a branch. The fastest route is usually online if you have a computer or phone and a government ID. In person takes longer but gives you a chance to ask questions and have someone walk you through it step by step.
Before you start, gather a valid government-issued ID (a driver's license, passport, or state ID card), your Social Security number, and proof of your current address. The address proof can be a recent utility bill, lease, or bank statement with your name and address on it. If you do not have a current address, bring a letter from a shelter, social service agency, or trusted contact confirming where you live.
You will also need to decide whether you want to open the account with money right away or start with zero dollars. Wells Fargo does not require an opening deposit for most savings accounts, though some account types do. If you plan to fund it when ready, have a debit card, bank account number, or cash ready.
Key Takeaways
- You need a government ID, Social Security number, and proof of current address to open an account online, by phone, or in person.
- Wells Fargo savings accounts do not require an opening deposit, so you can start with zero dollars and add money later.
- Online and phone applications usually take 5 to 10 minutes and you can start using the account the same day.
- In-person applications at a branch take longer but let you ask questions and sometimes get help setting up online banking on the spot.
- Once your account is open, you can deposit money by transferring from another bank, using direct deposit, or visiting a branch with cash.
Opening an account online
Go to wellsfargo.com and look for the "Open an Account" button, usually near the top of the page. Click it and select "Savings Account" from the menu. You will be asked to choose which type of savings account you want — Wells Fargo offers several, and the page will show you the differences in interest rates and fees.
Fill in your personal information: full name, date of birth, Social Security number, phone number, and email address. Then enter your current address. Wells Fargo will ask you to create a username and password for online banking — make this something you can remember but others cannot guess. You will use this to log in and check your balance, make transfers, and manage your account from a computer or phone.
Next, you will verify your identity. Wells Fargo may ask you questions only you would know the answers to — things like "which of these addresses have you lived at" or "which of these car loans did you have." Answer honestly. If you cannot answer the questions, you will be asked to verify your identity in person at a branch or by phone with a Wells Fargo representative.
Once verification is complete, you can fund your account when ready if you want to. You can transfer money from another bank account (you will need the routing number and account number), or you can skip this step and add money later. Your account number will be shown on screen — write it down or take a screenshot, because you will need it to set up direct deposit or transfers from other banks.
Opening an account by phone
Call Wells Fargo at 1-800-869-3557 and tell the representative you want to open a savings account. Have your ID, Social Security number, and proof of address ready to read aloud. The representative will ask the same questions as the online form and will verify your identity by asking personal questions or requesting that you mail in a copy of your ID.
The phone process usually takes 10 to 15 minutes. At the end, the representative will give you your new account number and will set up your username and password for online banking. They may also ask how you want to fund the account — by transfer from another bank, or you can wait and add money later.
After you hang up, you should receive a confirmation email with your account details. Log into your Wells Fargo online account within a few days to make sure everything is correct and to set up any transfers or direct deposit you need.
Opening an account in person at a branch
Find your nearest Wells Fargo branch using the branch locator on wellsfargo.com. Bring your government ID, Social Security number, proof of address, and any money you want to deposit. Walk in during business hours — no appointment is needed, though you may wait if the branch is busy.
Tell the person at the desk that you want to open a savings account. They will take you to a desk or private area and will walk you through the same questions as the online or phone process. They will verify your identity by looking at your ID in person, which is usually faster than the online or phone route.
At the end, the representative will give you your account number and will set up your online banking username and password. If you brought money to deposit, they will take it and add it to your new account right away. Many branches can also help you set up direct deposit on the spot if you have your employer's information or a recent pay stub.
What happens after you open the account
Your account is usually active the same day you open it, whether you opened it online, by phone, or in person. You can log into your online account and see your balance when ready. If you opened it online or by phone, you should receive a debit card in the mail within 7 to 10 business days — this card lets you withdraw money from ATMs or make purchases.
If you did not fund your account when you opened it, you can add money in several ways. You can transfer money from another bank account using online banking — log in, go to "Transfers," and follow the steps to move money from your other bank. You can set up direct deposit by giving your employer your Wells Fargo account number and routing number (Wells Fargo's routing number is 121000248, but confirm this with the bank). You can also visit a Wells Fargo branch with cash and deposit it directly.
Your savings account will earn interest, which means the bank pays you a small amount of money for keeping your money there. The interest rate changes over time and depends on which type of savings account you opened. You can check your current interest rate and balance by logging into your online account or calling 1-800-869-3557.
Fees and things to know
Most Wells Fargo savings accounts do not charge a monthly fee as long as you keep a certain balance — usually $300 or more. If your balance drops below that, you may be charged a monthly maintenance fee of around $5. You can avoid this fee by keeping your balance above the minimum or by setting up direct deposit.
There is no fee to open an account, and there is no fee to close it if you change your mind. If you want to close your account, you can do it online, by phone, or in person at a branch — just make sure you have withdrawn all your money first.
Wells Fargo savings accounts are FDIC insured, which means if Wells Fargo fails, the government protects your money up to $250,000. This protection covers your savings account separately from any checking account you have at the same bank, so your money is safe.
Frequently Asked Questions
Do I need to have a Wells Fargo checking account to open a savings account?
No. You can open a savings account on its own without a checking account. However, many people find it convenient to have both accounts at the same bank so they can transfer money between them easily.
What if I do not have a Social Security number?
You will need either a Social Security number or an Individual Taxpayer Identification Number (ITIN). If you do not have either, you may still be able to open an account in person at a branch — call ahead to ask what documents you can bring instead.
How much money do I have to put in when I open the account?
Wells Fargo does not require an opening deposit. You can open an account with zero dollars and add money whenever you are ready. However, you will need to keep a minimum balance (usually $300) to avoid a monthly fee once the account is open.
Can I open an account if I have had problems with banks before?
It depends. Wells Fargo checks a system called ChexSystems that tracks banking history. If you have unpaid fees or closed accounts with negative balances, you may be denied. Call 1-800-869-3557 and ask whether your history will prevent you from opening an account, or visit a branch to ask in person.
How long does it take to open an account online?
The online process usually takes 5 to 10 minutes from start to finish. Your account is active the same day, and you can log in and see your balance right away. Your debit card will arrive in the mail within 7 to 10 business days.