Opening a Chase savings account online takes 10 to 15 minutes and requires a Social Security number, government ID, and initial deposit

You can open a Chase savings account through their website, mobile app, or in person at a branch. The online route is fastest: you provide your name, address, Social Security number, and a photo ID, then fund the account with your first deposit. Chase requires a minimum opening deposit that varies by account type—typically $0 to $25 for their basic savings account, though some accounts require more. Once approved, your account is usually active the same day, and you can start depositing and withdrawing money immediately.

If you already have a Chase checking account, opening a savings account is even simpler—you can add one directly through your existing online banking login without re-verifying your identity. The whole process takes a few minutes. If you don't have an account yet, you'll go through the full application, which includes a soft credit check (it doesn't affect your credit score) and verification that you're not on ChexSystems, a banking history database that flags people with unpaid overdrafts or fraud.

Key Takeaways

  • Chase savings accounts can be opened online, on mobile, or in a branch, and most are active the same day you complete the application.
  • You need a valid government ID, Social Security number, and an initial deposit ranging from $0 to $25 depending on the account type.
  • If you already bank with Chase, you can open a savings account in your existing app without re-verifying your identity.
  • Chase savings accounts earn interest, but the rate is typically very low—check their current rate before opening, as it changes frequently.

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 proof of your current address. Chase will ask for your address during the application, but they don't always require a separate document—they may verify it through public records or your ID. Have your phone number and email address ready too, since Chase uses both for account notifications and security.

You'll also need to decide on your initial deposit amount and have a way to fund it. You can transfer money from another bank account, deposit a check through mobile deposit, or bring cash to a branch. If you're opening online or on mobile, you'll fund the account by linking an external bank account and transferring money—this usually takes one to three business days to clear, though Chase may let you use the account before the transfer settles.

Opening through the Chase website or app

Go to chase.com or open the Chase Mobile app and look for "Open an account" or "New accounts." Select "Savings" from the account type menu. You'll be asked to enter your personal information: full name, date of birth, Social Security number, address, phone number, and email. Chase will ask whether you want paperless statements (recommended, since it's faster and you can access them anytime in your account).

Next, you'll choose which savings account product you want. Chase typically offers a basic savings account and may offer promotional rates for new customers—read the terms carefully, since promotional rates expire after a set period (often three to six months). You'll then review the account terms, agree to them, and submit your application. Chase will perform a soft credit check and verify your identity. If approved, you'll see a confirmation screen with your new account number.

To fund your account, you'll link an external bank account and transfer your opening deposit. Provide your routing number and account number from the bank you're transferring from. Chase will send two small test deposits (usually under $1 each) to that account within one to two business days—you'll need to verify those amounts in your external bank's system to confirm you own the account. Once verified, your transfer will process, typically within one to three business days.

Opening in a Chase branch

Walk into any Chase branch with your ID and Social Security number. Tell a banker you want to open a savings account. They'll ask the same questions as the online application—name, address, phone, email, Social Security number—and will verify your ID by scanning it. The banker will show you the available savings account options and explain the current interest rate and any promotional offers.

You can fund the account on the spot with cash, a check, or a transfer from another bank. If you use cash or a check, the deposit is immediate. If you transfer from another bank, the banker will collect your routing and account number, and the transfer will process within one to three business days. You'll receive your debit card and account statements information before you leave, and your account is active right away—you can start using it online or through the app within minutes.

Adding a savings account if you already bank with Chase

Log into your Chase online banking or mobile app. Look for "Open an account," "Add account," or a plus sign (+) near your account list. Select "Savings account" and choose which type you want. Since Chase already has your identity information on file, you won't need to re-enter your Social Security number or provide a new ID—the application takes about two minutes.

You'll review the account terms and confirm your opening deposit. If you have money in your existing Chase checking account, you can transfer it immediately to fund the new savings account. The transfer is instant and shows up in both accounts right away. Your new savings account will appear in your app and online banking within minutes, and you can start using it immediately.

What happens after your account opens

Your savings account is ready to use as soon as the application is approved. You can deposit money through mobile check deposit (photograph a check and submit it through the app), transfer money from another Chase account, or link an external bank account and transfer from there. You can also visit a branch to deposit cash or checks. Withdrawals work the same way—transfer to another account, visit a branch, or use an ATM if you have a Chase debit card.

Chase will send you a welcome email with your account number and a link to set up online and mobile banking if you haven't already. You'll start earning interest on your balance immediately, though the rate is typically very low (often less than 0.01% annually, though this changes). Check your account settings to confirm you've opted into paperless statements and set up alerts for deposits and withdrawals if you want them.

Interest rates and account features

Chase savings accounts earn interest, but the rate varies by account type and changes frequently. Their basic savings account typically earns a very low rate—often 0.01% APY or less. Some Chase accounts offer slightly higher rates for larger balances or for new customers during a promotional period. Before opening, check chase.com for the current rate on the specific account you're considering, since rates change and promotional offers come and go.

All Chase savings accounts come with online and mobile banking, the ability to link external accounts for transfers, and access to Chase's ATM network. You can set up automatic transfers from checking to savings if you want to move money on a schedule. Most accounts have no monthly fee, though some require a minimum balance to avoid fees—confirm this before opening. You can also open multiple savings accounts if you want to separate money for different goals, though there's no advantage to doing so at Chase.

Frequently Asked Questions

How long does it take for my Chase savings account to be approved?

Most applications are approved instantly or within a few minutes. If Chase needs to verify additional information, approval may take up to 24 hours. Once approved, your account is active immediately, though if you're funding it with a transfer from another bank, that transfer takes one to three business days to clear.

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

No. You can open a savings account on its own without a checking account. However, if you already have a Chase checking account, opening a savings account is faster because Chase already has your identity information verified.

What's the minimum deposit to open a Chase savings account?

Chase's basic savings account typically requires $0 to $25 to open, though some account types may require more. Check the specific account details on chase.com before applying, since requirements vary by product and may change.

Can I transfer money from my Chase checking account to my new savings account?

Yes. If you have a Chase checking account, you can transfer money to your new savings account instantly through online banking or the mobile app. The transfer shows up in both accounts right away.

What if Chase denies my application?

Chase may deny an application if you're on ChexSystems (a banking history database), have unpaid overdrafts at another bank, or fail identity verification. If denied, Chase will send you a letter explaining why. You can dispute inaccurate information on ChexSystems through their website, or wait and reapply after addressing the issue.