You can open a Chase savings account online in about 10 minutes, or in a branch if you prefer to do it in person

Chase offers several savings account types, each with different features and minimum balance requirements. The most common option is the Chase Savings Account, which requires a $0 opening deposit but charges a monthly fee unless you maintain a minimum balance or set up direct deposit. You can start the process on Chase's website, through their mobile app, or by visiting a Chase branch in person. Online applications are fastest — you'll need your Social Security number, a valid ID, and an initial deposit method ready.

The entire process takes about 10 minutes online. You'll provide personal information, choose your account type, link a funding source (debit card, bank account, or external transfer), and make your first deposit. Once approved, your account number appears immediately, though it may take one to two business days for the account to be fully active for all transactions.

Key Takeaways

  • Chase Savings Account requires $0 to open but charges $5 per month unless you keep $500 minimum balance or set up direct deposit.
  • Online applications take about 10 minutes and require your Social Security number, a valid ID, and a funding source for your first deposit.
  • You can fund your new account immediately using a debit card, linked bank account, or external transfer.
  • Your account number appears right away, but full account activation for all features takes one to two business days.
  • Chase also offers High Yield Savings Account and Money Market Account options with different rates and requirements.

What you need before you start

Gather these items before opening your account: a valid government-issued photo ID (driver's license, passport, or state ID), your Social Security number, and a way to fund your account. For funding, you can use a debit card, a checking account at another bank, or an external transfer. If you're opening in person at a branch, bring your ID and Social Security card or number.

If you're a non-U.S. citizen, you'll need an Individual Taxpayer Identification Number (ITIN) instead of a Social Security number. Chase also requires you to be at least 18 years old to open an account on your own; minors can open accounts with a parent or guardian present.

Opening online through Chase.com or the mobile app

Go to Chase.com and select "Open an Account" or use the Chase Mobile app and tap the menu icon, then "Open an Account." Choose the account type you want — Savings Account, High Yield Savings Account, or Money Market Account. Enter your personal information: full name, date of birth, Social Security number, email address, phone number, and current address.

Next, verify your identity. Chase will ask security questions based on your credit history, or you can upload a photo of your ID. Once verified, link a funding source — a debit card or external bank account — and choose your opening deposit amount. The minimum is $0, but you must make at least one deposit to activate the account. Review the account terms, agree to them, and submit your application. Your account number and routing number appear on screen immediately.

After submission, you'll receive a confirmation email. Your account is usually ready to use within one to two business days, though some features may be available right away. You can set up online banking access and mobile app login during this time.

Opening in person at a Chase branch

Visit any Chase branch during business hours with your valid photo ID and Social Security number or card. Tell a banker you want to open a savings account. They'll ask the same personal information as the online form and will show you the account options available. You can ask questions about fees, minimum balances, and interest rates in person, which some people prefer.

Bring a debit card or checkbook from another bank if you want to fund the account immediately. The banker can process your deposit right there. You'll receive your account number and routing number before you leave, and the account is usually active the same day or by the next business day.

Understanding Chase savings account types and fees

Chase offers three main savings products. The Chase Savings Account has no opening deposit requirement but charges $5 per month unless you maintain a $500 minimum daily balance or receive direct deposits of $500 or more per month. The Chase High Yield Savings Account has no monthly fee and no minimum balance requirement, but requires a $0 opening deposit and offers a higher interest rate. The Chase Money Market Account combines savings and checking features, allows limited check writing, and has higher minimum balance requirements but also higher interest rates.

Interest rates vary and change based on the Federal Reserve's rate decisions. Check Chase.com for current rates before you open. All Chase savings accounts are FDIC insured up to $250,000, meaning your money is protected if Chase fails.

Funding your account after opening

Once your account is active, you can add money in several ways. Direct deposit from your employer or government benefits takes one to two business days and counts toward the minimum deposit requirement on some accounts. External transfers from another bank account take one to three business days. Mobile check deposit through the Chase app lets you photograph a check and deposit it within minutes, though the funds may take one to two business days to clear. In-branch deposits at any Chase location are available immediately.

You can also transfer money from an existing Chase account you already have. This transfer is usually instant if both accounts are in your name.

What happens after your account opens

Your account is ready to use once it's fully activated, usually within one to two business days. You can log into online banking and the mobile app right away to check your balance, set up alerts, and manage your account. A debit card is not automatically issued with a savings account — savings accounts are for storing money, not everyday spending. If you want a debit card, you'll need to open a checking account separately.

You can set up automatic transfers from checking to savings, create savings goals within the app, and earn interest on your balance. Interest is calculated daily and deposited monthly. Review your account statements monthly to track deposits, withdrawals, and fees.

Frequently Asked Questions

Can I open a Chase savings account if I don't have a Social Security number?

Yes, if you have an Individual Taxpayer Identification Number (ITIN) issued by the IRS. You'll need to open in person at a branch with your ITIN and a valid photo ID. Not all branches process ITIN accounts, so call ahead to confirm.

Do I need to have a Chase checking account to open a savings account?

No. You can open a savings account on its own without any other Chase account. However, having both makes it easier to transfer money between them and may help you avoid the monthly fee on the savings account through direct deposit.

How long does it take to receive my debit card?

Savings accounts do not come with debit cards. If you want a debit card for everyday purchases, you need to open a Chase checking account. Debit cards for checking accounts typically arrive within 7 to 10 business days after opening.

What if I don't have a valid ID or Social Security number right now?

You cannot open a Chase account without both. If you're waiting for a replacement ID, visit your state's DMV. If you need an ITIN, apply through the IRS website or visit an IRS office. Chase requires these for federal banking regulations.

Can I change my account type after opening?

Yes. You can convert your savings account to a High Yield Savings Account or Money Market Account by calling Chase customer service or visiting a branch. There is no fee to change account types, and your account number stays the same.