What you need to open a Chase savings account
You can open a Chase savings account online, by phone, or in person at a branch. Chase requires a government-issued photo ID, your Social Security number, and an initial deposit. The minimum opening deposit varies by account type — some accounts require $0, while others ask for $25 or more. You'll also need a valid email address and a phone number.
If you're opening online, you can complete the entire process in about 10 minutes. If you go to a branch, bring your ID and have your Social Security number ready. Chase will verify your identity and run a background check through ChexSystems, which is a banking history database — this is standard across most banks and doesn't affect your credit score.
You must be at least 18 years old to open an account in your own name. If you're under 18, a parent or guardian can open a Chase First Banking account for you instead.
Key Takeaways
- You need a photo ID, Social Security number, and initial deposit to open a Chase savings account, whether you do it online, by phone, or in a branch.
- Online account opening takes about 10 minutes and you can start using your account the same day in most cases.
- Chase runs a ChexSystems check, which is a banking history lookup that does not affect your credit score.
- If you already have a Chase checking account, opening a linked savings account is faster because Chase already has your information on file.
Opening online through Chase.com
Go to Chase.com and select "Open an Account" from the homepage. Choose the savings account type you want — Chase offers several, including Chase Savings, Chase Premier Savings, and Chase Sapphire Savings. Each has different interest rates and minimum balance requirements, so read the details for each before you choose.
Enter your personal information: full name, date of birth, Social Security number, address, phone number, and email. Chase will ask whether you're a new customer or already have a Chase account. If you already bank with Chase, the process is faster because the system can pull your existing information.
Verify your identity by uploading a photo of your ID or by answering security questions based on your credit history. Choose how you want to fund the account — you can link an external bank account, use a debit card, or transfer money from an existing Chase account. Complete the deposit and review the account terms before submitting.
Your account number and routing number will appear on screen immediately after approval. You can access your account right away through the Chase mobile app or website, though it may take one to two business days for external transfers to process.
Opening by phone or in a Chase branch
Call Chase at 1-800-935-9935 to open a savings account over the phone. Have your ID, Social Security number, and initial deposit method ready. A representative will walk you through the same questions as the online process and can answer questions about which account type fits your needs.
To open in person, visit any Chase branch during business hours. Bring your photo ID and know your Social Security number. A banker will help you choose an account, complete the paperwork, and process your initial deposit. You'll receive your debit card and account information before you leave, though the card itself may arrive in the mail within 7 to 10 business days.
Opening in a branch is useful if you prefer face-to-face help or if you want to deposit cash immediately. It also gives you a chance to ask about linked accounts, overdraft protection, or other Chase products at the same time.
Understanding Chase savings account types and their differences
Chase offers three main savings accounts for individual customers. Chase Savings has no minimum opening deposit and no monthly fee, making it the simplest option for most people. Chase Premier Savings requires a higher balance but pays a higher interest rate — the exact rate and minimum balance change based on market conditions and your location. Chase Sapphire Savings is linked to the Chase Sapphire checking account and offers additional benefits if you have both.
Interest rates on all three accounts vary by state and change regularly. You can see the current rate for your state on Chase.com before you open the account. The interest rate you receive depends on your opening deposit amount and your account balance — higher balances typically earn higher rates.
All Chase savings accounts come with online and mobile access, the ability to link to external accounts, and FDIC insurance up to $250,000. None of them charge a monthly maintenance fee, though some may charge fees for specific actions like excessive withdrawals or overdrafts.
What happens after you open your account
Once your account is open, you can transfer money in from another bank account, deposit checks through the mobile app, or visit a branch to deposit cash. Your account will be fully functional within one business day in most cases, though external transfers may take one to three business days to complete.
You'll receive a debit card in the mail within 7 to 10 business days if you requested one. You can also set up automatic transfers from your Chase checking account or from an external account to build savings on a schedule. Chase allows you to set up alerts for low balances, large deposits, or other account activity through the mobile app or website.
If you have questions about your account after opening, you can contact Chase customer service at 1-800-935-9935, visit a branch, or use the chat feature in the Chase mobile app. You can also manage most account settings yourself through your online account dashboard.
Linking your savings account to other Chase accounts
If you already have a Chase checking account, you can link your new savings account to it immediately. This lets you transfer money between the two accounts instantly online or through the mobile app, with no fees. Linked accounts also make it easier to set up overdraft protection, which automatically transfers money from savings to checking if your checking account balance drops too low.
You can link external bank accounts to your Chase savings account as well. This process takes one to two business days and requires you to verify the external account by depositing small test amounts or by answering security questions. Once verified, you can transfer money between your Chase savings and the external account, though transfers may take one to three business days.
Linking accounts does not affect your interest rate or account fees. It simply gives you more flexibility in how you move money around and manage your savings.
Frequently Asked Questions
Do I need to have a Chase checking account to open a savings account?
No. You can open a Chase savings account without any other Chase accounts. However, if you already have a Chase checking account, the process is slightly faster because Chase already has your information on file.
What's the minimum deposit to open a Chase savings account?
Chase Savings requires no minimum opening deposit. Chase Premier Savings and Chase Sapphire Savings have higher minimums that vary by state and change over time. Check Chase.com for the current minimum for your location and account type.
How long does it take to open a Chase savings account online?
The application takes about 10 minutes. You'll receive your account number and routing number immediately after approval. External transfers may take one to three business days to process, and your debit card will arrive in the mail within 7 to 10 business days.
Can I open a Chase savings account if I've had banking problems in the past?
Chase checks your banking history through ChexSystems. If you have a negative history, Chase may decline your application or require a higher opening deposit. You can contact Chase directly to ask about your specific situation before applying.
What interest rate will I earn on my Chase savings account?
Interest rates vary by account type, state, and balance amount. Rates change regularly based on market conditions. You can see the current rate for your state and account type on Chase.com before you open the account.