You can open a Wells Fargo savings account online in about 10 minutes using a computer or mobile app
Wells Fargo lets you open most savings accounts entirely online without visiting a branch. You'll need a valid government ID, your Social Security number, and a way to fund the account — either a debit card, another bank account, or a wire transfer. The process takes roughly 10 minutes, and your account is usually ready to use the same day or within one business day.
The exact steps depend on whether you're a new Wells Fargo customer or already have a checking account with them. If you're new, you'll go through identity verification. If you already bank with Wells Fargo, the process is faster because they already have your information on file.
Key Takeaways
- You need a valid government ID, Social Security number, and a funding source (debit card, linked bank account, or wire transfer) to open an account online.
- New customers must verify their identity during signup, which typically takes a few extra minutes but happens in real time.
- Existing Wells Fargo customers can open a savings account in under 5 minutes since the bank already has their information.
- Your account is usually active the same day, though transfers from external banks may take one to three business days to clear.
- Wells Fargo offers several savings account types with different features and minimum balance requirements, so choose based on your needs before you start.
What you need before you start
Gather these items before opening your browser: a valid government-issued ID (driver's license, passport, or state ID), your Social Security number, and your date of birth. You'll also need a way to fund the account. Wells Fargo accepts debit cards, external bank accounts (you'll provide routing and account numbers), or wire transfers.
If you're funding from another bank account, have that account number and routing number ready. If you're using a debit card, have the card itself in front of you. You don't need to fund the account when ready — you can set up the account and add money later — but having a funding method ready speeds things up.
Decide which type of savings account you want before you begin. Wells Fargo offers the Way2Save Savings Account (designed for regular savers with low minimum balance), the Savings Account (standard option), and the Portfolio Savings Account (requires higher minimum balance but may offer better rates). Check the current rates and features on Wells Fargo's website, as these change.
Opening an account if you're new to Wells Fargo
Go to wellsfargo.com and look for the "Open an Account" or "Sign Up" button, usually near the top of the page. Select "Savings Account" from the account type options. You'll be asked to enter your email address and create a password for your online banking login.
Next, you'll enter your personal information: full name, date of birth, Social Security number, and address. Wells Fargo will verify your identity in real time using this information. This verification usually takes less than a minute. If the system cannot verify you when ready, you may be asked to upload a photo of your ID or answer security questions based on your credit history.
Once verified, you'll choose your account type and review the account terms. Then you'll set up your funding method. If you're linking an external bank account, Wells Fargo will ask for the routing number and account number. If you're using a debit card, enter the card number, expiration date, and CVV. You can also choose to fund the account later.
Review your information one final time and submit. You'll receive a confirmation email, and your account number will appear on screen. Write down or screenshot your account number — you'll need it to log in or set up transfers.
Opening an account if you already have Wells Fargo checking
Log into your existing Wells Fargo online banking account. Look for "Open Another Account" or a similar option in the menu, usually under "Accounts" or "Products." Select "Savings Account" and choose the type you want.
Because Wells Fargo already has your identity information on file, you'll skip the verification step. You'll straightforward confirm your personal details, choose your account type, and review the terms. The entire process takes 2 to 5 minutes.
Your new savings account will appear in your online banking dashboard when ready. You can transfer money between your checking and savings accounts right away using the transfer tool in your online banking portal or mobile app.
Funding your account and what happens next
If you funded your account during signup using a debit card or external bank account, the money may not appear when ready. Debit card deposits usually clear within one business day. Transfers from another bank account typically take one to three business days, depending on the other bank's processing speed.
If you didn't fund the account during signup, you can add money later through your online banking portal, mobile app, or by visiting a Wells Fargo branch in person. You can also set up automatic transfers from your checking account or arrange a wire transfer.
Once your account is open, you can set up online bill pay, automatic savings transfers, or direct deposit if your employer uses Wells Fargo's payroll system. Your debit card (if you ordered one) will arrive by mail within 7 to 10 business days, though you can use your account number to set up transfers before the card arrives.
Troubleshooting if your account doesn't open
If your identity verification fails, Wells Fargo will tell you why — usually because the information you entered doesn't match their records or a credit bureau's records. Common reasons include a name change, recent address change, or a typo in your Social Security number. Double-check your information and try again, or contact Wells Fargo to verify your details before attempting signup again.
If you see an error message about your funding source, make sure your debit card or bank account information is entered correctly. If you're linking an external bank account, confirm that the routing number matches your bank's actual routing number — many people use the wrong one. Your bank's website or a call to their customer service can confirm the correct routing number.
If your account opens but you can't log in, check that you're using the correct email address and password. If you've forgotten your password, use the "Forgot Password" link on the Wells Fargo login page. If you still can't access your account, contact Wells Fargo customer service by phone or through a branch.
Minimum balances and account fees
Wells Fargo's savings accounts have different minimum balance requirements depending on the account type. Way2Save Savings has no minimum balance requirement. The standard Savings Account requires a $300 minimum to open but no minimum to maintain. The Portfolio Savings Account requires a higher minimum, which varies. Check the current requirements on Wells Fargo's website before you open, as these can change.
Most Wells Fargo savings accounts have no monthly maintenance fee, but some accounts charge a fee if your balance falls below the minimum. Interest rates (called Annual Percentage Yield or APY) vary and change frequently. Wells Fargo publishes current rates on their website — compare them to other banks if you're shopping around.
Frequently Asked Questions
Can I open a Wells Fargo savings account on my phone?
Yes. read the Wells Fargo mobile app, tap "Open an Account," and follow the same process as the website. The app guides you through identity verification and funding setup. New customers will still need to verify their identity, which the app handles by taking a photo of your ID.
What if I don't have a government ID?
You need a valid government-issued ID to open an account online. If you don't have one, you can visit a Wells Fargo branch in person with alternative documents — ask the branch what they accept. Online signup requires a government ID because that's how Wells Fargo verifies your identity remotely.
How long does it take to transfer money from another bank into my new Wells Fargo savings account?
One to three business days, depending on your other bank's processing speed. Weekends and holidays don't count as business days. If you need the money faster, visit a Wells Fargo branch and deposit cash or a check in person, or arrange a wire transfer (which usually clears the same day but may have a fee).
Can I open a savings account online if I've had problems with Wells Fargo before?
Wells Fargo checks ChexSystems, a banking history database, when you open an account. If you've had a checking account closed due to fraud or unpaid fees, you may be denied. Contact Wells Fargo before you try to open an account to ask whether your history will block you. If you're denied, ask what specific issue caused the denial.
Do I need to open a checking account first?
No. You can open a savings account as your first Wells Fargo account. You don't need a checking account to have a savings account, though many people have both.