What you need to open a savings account at Wells Fargo

Wells Fargo lets you open a savings account online, by phone, or in person at a branch. You will need a government-issued photo ID, your Social Security number, and an initial deposit. The minimum opening deposit varies by account type — some accounts require $25, others $100 or more. You can fund the account with a debit card, transfer from another bank, or cash if you open in person.

Wells Fargo will also run a background check through ChexSystems, a banking history database. This check looks at whether you have unpaid fees or fraud on past accounts. If you have been denied a bank account before, you should know this upfront — it affects whether you can open here.

You will need to choose between Wells Fargo's standard savings account and other savings products they offer, which have different features and minimum balances. The standard savings account (sometimes called a basic savings account) has lower minimums than premium options.

Key Takeaways

  • You need a government ID, Social Security number, and an opening deposit of $25 to $100 depending on the account type.
  • Wells Fargo runs a ChexSystems check, which may deny you if you have unpaid banking fees or fraud history from another bank.
  • You can open online, by phone at 1-800-869-3557, or in person at any Wells Fargo branch.
  • Online opening takes about 10 minutes and you can start using the account within one business day in most cases.

Opening online through Wells Fargo's website

Go to wellsfargo.com and select "Open an Account" from the homepage. Choose the savings account product you want — Wells Fargo typically offers a basic savings account and higher-tier options with different interest rates and fees. The online form will ask for your name, address, date of birth, Social Security number, and employment information.

You will enter your ID information and Wells Fargo will verify it electronically. Have your ID ready and be prepared to answer security questions based on your credit history. The whole process takes about 10 minutes. At the end, you will choose how to fund the account — you can link a debit card from another bank, provide routing and account numbers for a transfer, or wait to deposit cash in person.

Once you submit, Wells Fargo will send you a confirmation email. Your account number appears in that email, and you can log into your online banking account when ready. The debit card arrives by mail within 7 to 10 business days.

Opening by phone or at a branch

To open by phone, call Wells Fargo at 1-800-869-3557. A representative will walk you through the same questions as the online form and verify your identity. Phone opening takes about 15 to 20 minutes. You will still need to fund the account — the representative can arrange a transfer from another bank or you can deposit cash at a branch afterward.

If you open in person at a Wells Fargo branch, bring your government ID, Social Security number, and your opening deposit in cash, check, or debit card. A banker will complete the paperwork with you and can answer questions about account features and fees in real time. In-person opening usually takes 20 to 30 minutes. You walk out with temporary access to your account and the debit card arrives by mail.

Branch locations and hours are on wellsfargo.com under "Find Locations." If you do not have a branch nearby, opening online or by phone is faster.

What happens after you open the account

Your account becomes active within one business day. You can transfer money in, set up direct deposit, and use online banking right away. The physical debit card takes 7 to 10 business days to arrive. Until it does, you can withdraw cash at any Wells Fargo ATM using your temporary card number from your online banking app, or you can visit a branch and withdraw over the counter with your ID.

Wells Fargo will send you account statements monthly, either by email or mail depending on what you choose during setup. Review your first statement to confirm the opening deposit posted and check for any unexpected fees. Most savings accounts charge a monthly maintenance fee unless you meet a minimum balance or set up direct deposit — the amount varies by account type.

Understanding Wells Fargo savings account fees

Wells Fargo's basic savings account typically charges a monthly maintenance fee of $5 unless you maintain a minimum balance (often $300 to $500) or have a may have access to direct deposit. Some accounts waive the fee if you link them to a Wells Fargo checking account. Read the fee schedule before you open — it is in the account terms, which Wells Fargo shows you during signup.

You will not be charged for deposits, transfers between your own accounts, or viewing your balance. Wells Fargo does charge for things like excessive withdrawals (more than six per month from a savings account), overdrafts if you somehow go negative, and expedited card replacement. Interest rates on savings accounts are low across all banks right now — Wells Fargo's rates are competitive but not exceptional, so compare with other banks if interest earnings matter to your decision.

If Wells Fargo denies your account

Wells Fargo will tell you within one business day if you are denied. The most common reason is a ChexSystems report showing unpaid overdraft fees, fraud, or too many closed accounts in a short time. You have the right to see your ChexSystems report for free — go to chexsystems.com and request it. If there is an error, you can dispute it directly with ChexSystems.

If you are denied because of ChexSystems, you have other options. Some banks offer second-chance accounts designed for people with banking history issues — these usually have higher fees but do not run ChexSystems checks, or they run them but do not deny based on the results. Credit unions sometimes have more flexible policies than large banks. You can also try again with Wells Fargo after six months to a year if you have resolved the underlying issue.

Frequently Asked Questions

Can I open a Wells Fargo savings account without a Social Security number?

No. Wells Fargo requires a Social Security number or ITIN (Individual Taxpayer Identification Number) to open any account. This is a federal requirement for all U.S. banks. If you have an ITIN instead of a Social Security number, you can use that during signup.

How much money do I have to put in to open the account?

The minimum opening deposit is $25 for Wells Fargo's basic savings account, though some premium savings products require $100 or more. Check the specific account terms before you open. You can deposit the minimum and add more later — there is no limit on how much you can keep in the account.

What if I do not have a government ID?

You will need a government-issued photo ID to open any bank account. Acceptable IDs include a driver's license, passport, state ID card, or military ID. If you do not have one, you will need to get one before you can open the account. Some states offer ID cards specifically for people who cannot get a driver's license.

Can I open a joint savings account with someone else?

Yes. Both account holders need to be present (in person or verified by phone) and provide their own ID and Social Security number. Wells Fargo will ask how you want the account titled — whether both people own it equally, or one person is the primary owner. This affects what happens to the money if one owner dies.

How long does it take to use the account after I open it?

Your account is active within one business day. You can transfer money in and use online banking when ready. The physical debit card takes 7 to 10 business days to arrive by mail. If you need cash before the card arrives, you can withdraw at a Wells Fargo branch with your ID or use a temporary card number in the mobile app at ATMs.