You cannot convert a savings account into a checking account — they are separate accounts at the same bank
A savings account and a checking account are two different products, not two versions of the same thing. Your bank treats them as separate accounts with different rules, different fees, and different purposes. You cannot flip a switch and turn one into the other.
What you can do is open a new checking account at your bank and move your money from the savings account into it. The savings account stays open (or you can close it), and you now have both accounts running side by side. This takes a few minutes and costs nothing.
If you want to close the savings account after moving the money, that is a separate step. Some people keep both open — one for everyday spending, one for money they want to set aside.
Key Takeaways
- You open a new checking account as a separate product; you cannot convert an existing savings account into a checking account.
- Moving money between your own accounts at the same bank is when ready and free, whether you do it online, by phone, or in person.
- You can close the savings account after moving the money, or keep it open if you want to maintain separate savings.
- If you have a savings account with a low balance requirement or high fees, closing it after the transfer may save you money each month.
Opening a checking account at your current bank
Start by contacting your bank — online, by phone, or in a branch. Tell them you want to open a checking account. They will ask you to choose a checking account product (most banks offer more than one, with different features and fees), and they will ask for your Social Security number to verify your identity.
The whole process usually takes 10 to 15 minutes. You will get a new account number, and the bank will issue you a debit card and checks if you want them. Some banks mail these; others let you pick them up in a branch.
You do not need to close your savings account to do this. The new checking account is completely separate and will show up as a different account in your online banking.
Moving your money from savings to checking
Once your checking account is open, you can move money from savings to checking when ready. Log into your online banking, find the transfer option (usually labeled "Transfer Between My Accounts" or similar), select your savings account as the source and your checking account as the destination, enter the amount, and confirm.
You can also call your bank and ask them to transfer the money over the phone, or walk into a branch and ask a teller to do it. All three methods are free and when ready — the money appears in your checking account right away.
There is no limit on how much you can transfer between your own accounts at the same bank. If you want to move all of it, move all of it.
Closing your savings account (optional)
After the money is in your checking account, you can close the savings account if you want to. You do not have to — some people keep both accounts open. But if your savings account has a monthly fee, a minimum balance requirement you cannot meet, or you straightforward do not plan to use it, closing it will stop those charges.
To close the account, call your bank, go to a branch, or use online banking if that option is available. Make sure the account balance is zero before you close it (move any remaining money to your checking account first). The bank will confirm the closure and send you written confirmation.
Closing an account does not hurt your credit score. It is a normal, free action.
What to do with your debit card and checks
Your old savings account probably did not come with a debit card or checks — savings accounts are not designed for frequent withdrawals. Your new checking account will come with both (or you can request them).
Once your debit card arrives, you can use it to withdraw cash from ATMs and pay for things in stores. Checks work the same way they always have: you write them, the person deposits them, and the money comes out of your checking account.
If you do not want checks, you do not have to order them. Many people use only their debit card and online transfers now. Ask your bank what options they offer.
Timing and what to expect
Opening the checking account takes a few minutes. Moving the money is when ready. If you close the savings account, that is also when ready. You could have the whole thing done in one phone call or one online session.
The only part that takes time is waiting for your debit card and checks to arrive in the mail — usually 5 to 10 business days. You can use your checking account before the card arrives (you can withdraw cash at a teller window, or use online transfers), but most people wait for the card to start using it regularly.
Frequently Asked Questions
Will opening a checking account hurt my credit?
No. Banks do not report checking or savings accounts to credit bureaus. Opening an account does not affect your credit score. Closing the savings account does not affect it either.
What if I have automatic transfers set up from my savings account?
Before you close the savings account, contact your bank or the company that is sending money to it (your employer, for example) and update the account number to your new checking account. This prevents the money from going to a closed account.
Can I move money from savings to checking at a different bank?
Yes, but it takes longer. You will need to set up an external transfer using your routing number and account number, and it usually takes one to three business days. Moving money between accounts at the same bank is when ready.
Do I have to move all the money at once?
No. You can move as much or as little as you want, whenever you want. You could move half now and half later, or move it gradually over time.
What happens to my old savings account number?
Once you close the account, the bank will not reuse that number. If someone tries to send money to it, the transfer will bounce back. This is why you need to update any automatic deposits before closing.