What you need before you start

Wells Fargo lets you open a savings account entirely online without visiting a branch. You will need a valid government-issued ID, a Social Security number, and a way to fund the account — either a debit card, an existing Wells Fargo account, or a bank transfer from another institution. The whole process takes about 10 minutes.

Before you begin, decide which savings product fits your situation. Wells Fargo offers several: the standard Savings Account, the Way2Save Savings Account (which rounds up debit card purchases and deposits the difference), and the Active Military Savings Account (for current service members). Each has different monthly fees and minimum balance requirements, so knowing which one you want saves time during signup.

You will also need an email address and a phone number. Wells Fargo uses these to verify your identity and send account confirmations. Have your ID ready to photograph or reference — you will enter information from it during the process.

Key Takeaways

  • You can open a Wells Fargo savings account online in about 10 minutes using a valid ID, Social Security number, and a funding source.
  • Wells Fargo offers three main savings products with different fee structures and minimum balances, so choose the right one before you start.
  • The online process asks for personal information, identity verification, and funding details in a specific order.
  • Your account becomes active when ready after approval, though transfers from outside banks may take one to three business days to appear.
  • Monthly maintenance fees range from $0 to $5 depending on the account type and whether you meet balance or deposit requirements.

The step-by-step signup process

Go to wellsfargo.com and select "Open an Account" from the main menu. Choose "Savings" as your account type, then select which savings product you want. Click "Open Now" to begin the process.

The first screen asks for your name, date of birth, email address, and phone number. Enter these exactly as they appear on your ID — mismatches will cause the verification step to fail. Wells Fargo will send a verification code to your phone; enter it on the next screen to confirm you control that number.

Next, you will enter your Social Security number and answer identity verification questions. Wells Fargo pulls information from credit bureaus to generate these questions — they might ask about previous addresses, loan amounts, or credit card details. Answer based on what you actually had, not what you think might be correct. If you answer three or more incorrectly, the process will pause and ask you to verify your identity another way, usually by uploading a photo of your ID.

After identity verification, you will choose how to fund the account. Select "Link an Existing Account" if you have another bank account and want to transfer money in, or "Use a Debit Card" to fund it when ready with a card in your name. If you already have a Wells Fargo account, you can transfer from that. Enter the account number and routing number for external transfers, or your card details for debit card funding.

Identity verification and what happens if it fails

Wells Fargo uses a third-party service to verify your identity during signup. This service checks your Social Security number, date of birth, and address against records from credit bureaus and other databases. Most applications pass this check in seconds.

If the automated check fails, Wells Fargo will ask you to upload a photo of your government-issued ID — a driver's license, passport, or state ID card. Take the photo in good lighting and make sure all text is readable. Upload both the front and back. This manual review usually completes within one business day, and Wells Fargo will email you when your account is approved.

In rare cases, Wells Fargo may ask you to visit a branch in person with your ID. This happens when the bank cannot verify your identity through documents alone. You can find your nearest branch on wellsfargo.com and call ahead to confirm they can complete the verification that day.

When your account opens and how to use it

Once Wells Fargo approves your process, your account opens when ready. You will receive a confirmation email with your account number and routing number. You can log into your account right away through the Wells Fargo website or mobile app to check your balance and set up transfers.

If you funded the account with a debit card, that money appears in your account within minutes. If you transferred from another bank, the money will arrive in one to three business days — Wells Fargo cannot speed this up because it depends on the other bank's processing time. You can start making transfers out of your new savings account as soon as it opens, even if deposits have not yet arrived.

Set up automatic transfers if you want to build savings without thinking about it. In the Wells Fargo app, go to Transfers and select "Set Up Recurring Transfer." You can move money from your checking account to savings on any schedule — weekly, biweekly, monthly, or custom dates. This is how the Way2Save account works best: set up a small automatic transfer and let it compound.

Monthly fees and how to avoid them

Wells Fargo charges a monthly maintenance fee on most savings accounts, but you can waive it by meeting one of these conditions: maintain a minimum daily balance (usually $300 to $500 depending on the account type), have a direct deposit of at least $250 per month, or be an active military member. Check the fee schedule for the specific account you opened — it is listed in your account documents and on wellsfargo.com.

The Way2Save Savings Account has a $5 monthly fee, but it waives automatically if you maintain a $25 minimum balance. This account is designed for people who want to save small amounts regularly — the round-up feature deposits spare change from debit card purchases into savings, which adds up over time.

If you do not meet the fee waiver requirements, the monthly charge will be deducted from your account balance automatically. You can avoid future fees by increasing your balance, setting up a direct deposit, or switching to a different Wells Fargo account type that has lower requirements.

Linking your new account to other banks

After your Wells Fargo savings account opens, you can connect it to accounts at other banks. This lets you transfer money between institutions without going through Wells Fargo's website each time.

In the Wells Fargo app, go to Transfers and select "Link External Account." Enter the account number and routing number of the other bank. Wells Fargo will make two small test deposits (usually under $1 each) to that account within one to two business days. Log into the other bank's website and find those deposit amounts, then enter them into Wells Fargo to confirm you own the account. After confirmation, you can transfer money between the accounts when ready.

Transfers out of Wells Fargo to another bank take one business day. Transfers into Wells Fargo from another bank take one to three business days depending on the other bank's speed. Wells Fargo does not charge for these transfers, but some other banks may.

What to do if your process is denied

Wells Fargo may deny your process if you have a history of unpaid overdrafts, fraud, or other banking violations. The bank checks ChexSystems, a database that tracks banking problems across institutions. If you are in ChexSystems, Wells Fargo will usually tell you why during the process process.

If your process is denied, Wells Fargo will send you a letter explaining the reason. You have the right to request a copy of your ChexSystems report for free at www.chexsystems.com. If the report contains errors, you can dispute them directly with ChexSystems.

Some people denied by Wells Fargo can open accounts at banks that do not use ChexSystems or that have more lenient policies. These are sometimes called "second chance" banks. However, your first step should be to understand why Wells Fargo denied you — that reason will likely explore to other banks as well.

Frequently Asked Questions

Can I open a Wells Fargo savings account if I do not have a checking account?

Yes. You can open a savings account as your first Wells Fargo account. However, you will need a way to fund it — either a debit card from another bank, a bank transfer from another institution, or cash deposited at a Wells Fargo branch. You cannot fund a savings account with a check or cash during the online signup process.

How long does it take to open the account after I submit my process?

Most applications are approved within minutes. If Wells Fargo needs to verify your identity manually by reviewing your uploaded ID, approval usually takes one business day. Your account opens when ready after approval, and you can use it right away.

What is the minimum amount I need to deposit to open the account?

Wells Fargo does not require a minimum opening deposit for savings accounts opened online. However, you do need to fund the account with at least some amount during signup — you cannot open an empty account. Most people deposit $25 to $100 to start.

Can I change which savings product I chose after the account opens?

Yes. You can convert your account to a different Wells Fargo savings product by calling customer service at 1-800-869-3557 or visiting a branch. There is no fee to switch, and your money stays in the account during the conversion.

What happens if I do not meet the minimum balance to waive the monthly fee?

Wells Fargo will charge the monthly maintenance fee and deduct it from your account balance. You can avoid future fees by depositing enough to meet the minimum balance requirement, setting up a direct deposit, or switching to an account type with lower requirements.