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. Online is fastest — you can finish in about 10 minutes if you have your documents ready. You will need a valid government-issued ID (driver's license, passport, or state ID), your Social Security number, and an initial deposit, which varies by account type but is often $0 for Chase savings accounts.
Chase will also ask for your date of birth, address, and phone number. If you are opening the account online, you will need to verify your identity through their system, which usually means answering security questions based on your credit history. If you open in person or by phone, a Chase representative will handle the verification.
You do not need to be a current Chase customer to open a savings account. If you already have a Chase checking account, the process is even faster because Chase already has your information on file.
Key Takeaways
- You can open a Chase savings account online in about 10 minutes with a valid ID, Social Security number, and an initial deposit.
- Chase will verify your identity by asking security questions or having you confirm personal details in person or by phone.
- You do not need to be an existing Chase customer, but having a checking account with them speeds up the process.
- After opening, you can link your savings account to external bank accounts for transfers, though this takes one to two business days to verify.
- Chase savings accounts earn interest, but the rate changes based on market conditions and your account balance.
Opening an account online through Chase.com
Go to Chase.com and look for the "Open an Account" or "Savings" link, usually in the top navigation. Select the savings account type you want — Chase offers several, including the Chase Savings Account and the Chase Premier Savings Account, which have different minimum balance requirements and interest rates. Read the details for each to see which fits your situation.
Click "Open Now" or "get your free guide" and enter your basic information: name, date of birth, address, phone number, email, and Social Security number. Chase will ask whether you want to fund the account from an existing Chase account or from an external bank account. If you use an external account, you will provide the routing and account numbers, and Chase will make two small test deposits to verify ownership — this takes one to two business days.
Next, Chase will ask you security questions to verify your identity. These are based on your credit history and public records, so answer accurately. Once verified, you will set up online login credentials and choose a PIN for phone banking if you want it. Your account opens immediately, though transfers from external accounts may take a few days to process.
Opening an account by phone or in person
Call Chase customer service at 1-800-935-9935 to open a savings account over the phone. A representative will walk you through the same information — name, Social Security number, address, and initial deposit method. They will verify your identity by asking questions about your personal history. This call usually takes 15 to 20 minutes.
If you prefer to open in person, visit any Chase branch with your ID and Social Security number. A banker will complete the application with you, verify your identity, and process your initial deposit on the spot. Your account opens immediately, and you can start using it the same day. In-person opening is useful if you want to deposit cash or have questions answered face-to-face.
What happens after your account opens
Your savings account is active immediately after opening, and you can begin depositing money right away. If you funded it from an external bank account, those funds will arrive within one to two business days. If you opened in person or by phone and made a deposit, the money is available the same day.
Chase will mail you a debit card within 7 to 10 business days if you request one, though you do not need a card to use your savings account — you can transfer money online or by phone. You can also set up automatic transfers from your checking account or link external accounts for moving money in and out.
Your account will begin earning interest based on Chase's current savings rate. Interest is calculated daily and deposited monthly. The rate changes based on market conditions, so check your account statements or Chase.com to see your current rate.
Linking external bank accounts to your Chase savings account
After opening your account, you can link external bank accounts for transfers. Log into your Chase account online, go to "Transfer Money," and select "Link Account." Enter the routing number and account number from your external bank. Chase will make two small test deposits (usually less than $1 each) to that account within one to two business days.
Once the test deposits arrive, you will confirm the amounts in your external bank's system. After confirmation, the accounts are linked and you can transfer money between them. Transfers typically take one to three business days, depending on the other bank's processing time. You can set up recurring transfers if you want to move money automatically on a schedule.
Fees and minimum balance requirements
Chase Savings Account has no monthly maintenance fee and no minimum balance requirement to open or maintain the account. However, some Chase savings products, like the Premier Savings Account, do have minimum balance requirements — currently $10,000 — and offer higher interest rates in exchange. If your balance falls below the minimum, you may lose the higher rate or be moved to a different account type.
Chase does charge fees for certain actions: excessive withdrawals (more than six per month) may result in a fee, and overdrafts on linked checking accounts can trigger overdraft fees. There is no fee to open the account, close it, or transfer money between your own Chase accounts.
What to do if you cannot open an account online
If Chase's identity verification system declines you online, you have two options: call 1-800-935-9935 to open by phone with a representative, or visit a branch in person. Phone and in-person verification is more flexible and can handle situations where online verification fails — for example, if you have limited credit history or recently moved.
If you do not have a Social Security number, you may be able to open an account using an Individual Taxpayer Identification Number (ITIN) instead, but this requires opening in person at a branch. Bring your ITIN documentation and a valid ID. Call your local Chase branch first to confirm they can process ITIN accounts, as policies vary by location.
Frequently Asked Questions
How much money do I need to open a Chase savings account?
Most Chase Savings Accounts have no minimum deposit to open. However, some account types like the Premier Savings Account require a $10,000 opening deposit. Check the specific account details before you start the application to see what applies to the account you want.
Can I open a Chase savings account if I do not have a checking account with them?
Yes. You do not need an existing Chase account to open a savings account. However, if you already have a Chase checking account, the process is faster because Chase already has your information verified.
How long does it take to open a Chase savings account?
Online opening takes about 10 minutes if you have your documents ready. Phone opening takes 15 to 20 minutes. In-person opening at a branch is immediate, and your account is active the same day. If you fund from an external bank account, transfers take one to two business days to arrive.
What if I want to close my Chase savings account later?
You can close your account anytime by calling Chase, visiting a branch, or using the mobile app. There is no fee to close. If you have money in the account, Chase will send it to you by check or transfer it to another account you specify.
Does Chase offer different types of savings accounts?
Yes. Chase offers the Chase Savings Account (no minimum balance, standard interest rate) and the Chase Premier Savings Account (requires $10,000 minimum, higher interest rate). There is also the Chase High Yield Savings Account, which offers a higher interest rate but may have different terms. Compare the rates and features on Chase.com to choose the right one for you.