You can open a Chase savings account online in about 10 minutes, or in person at a branch
Chase offers two main savings products: a regular savings account and a money market account. Both let you deposit money, earn interest, and withdraw when you need it. The online route is fastest — you'll need your Social Security number, a government ID, and a funding source (debit card, bank account, or wire transfer). If you go to a branch, bring the same documents plus proof of address, like a utility bill or lease.
The entire process takes roughly 10 minutes online or 20 to 30 minutes in person. You'll choose your account type, set up online banking, and decide how much to deposit to start. Chase will run a soft credit check and verify your identity through ChexSystems, a banking history database — this does not affect your credit score. Once approved, your account opens immediately and you can start using it the same day.
Key Takeaways
- Chase savings accounts can be opened online with just your Social Security number, government ID, and a way to fund the account.
- You will need to choose between a regular savings account and a money market account, which have different interest rates and minimum balance requirements.
- Online accounts open in minutes; in-person accounts at a branch take 20 to 30 minutes and require proof of address.
- Chase runs a soft credit check through ChexSystems, which does not lower your credit score and is standard for all banks.
What you need before you start
Gather these documents before opening an account, whether online or at a branch. You will need a valid government-issued ID — a driver's license, passport, or state ID card. Chase will scan or photograph it to verify your identity. You also need your Social Security number; Chase uses this to check ChexSystems and set up your tax reporting.
For funding, have a debit card, checking account, or wire transfer information ready. If you're funding from another bank account, you'll need the routing number and account number. If you're using a debit card, have the card number and expiration date handy. For in-person accounts, bring a second form of ID or proof of address — a utility bill, lease, or mortgage statement dated within the last 60 days works.
Opening an account online through Chase.com
Go to Chase.com and click "Open an Account" or "Savings" in the top menu. Select the savings product you want — Chase typically offers a basic savings account and a money market account. The money market account usually requires a higher minimum balance but pays more interest. Read the current rates and fees for each, since these change.
Enter your personal information: name, date of birth, Social Security number, address, phone number, and email. Chase will ask about your employment and income, though these are optional fields. Next, verify your identity by uploading a photo of your government ID or answering security questions based on your credit history. This step usually takes two to five minutes.
Choose how much to deposit to open the account. Chase does not require a minimum deposit for most savings accounts, though some products do. Select your funding source — debit card, bank account, or wire transfer — and enter the details. Review the account agreement and disclosures, then sign electronically. Your account opens immediately, and you can log in to online banking right away.
Opening an account at a Chase branch
Find your nearest Chase branch using the branch locator on Chase.com. Walk in during business hours with your government ID, proof of address, and Social Security number. Tell the banker you want to open a savings account. They will ask the same questions as the online form: your name, address, employment, and income.
The banker will run your identity check through ChexSystems and show you the current savings products and rates. Choose which account type fits your needs. Decide on your opening deposit and how you want to fund it — you can transfer from another Chase account, use a debit card, or write a check. The banker will enter everything into the system, you'll sign the account agreement, and your account opens on the spot.
You'll receive a debit card and temporary checks at the branch, or they may mail them to you. Ask when you can expect them. The banker will also set up online and mobile banking access before you leave, so you can start using your account immediately.
Understanding interest rates and fees
Chase savings accounts earn interest, but the rate varies by product and changes regularly. Check Chase.com for the current rate before you open an account — rates are typically lower than online-only banks. Money market accounts usually pay higher interest than regular savings accounts, but require a larger minimum balance to earn that rate.
Most Chase savings accounts have no monthly maintenance fee. However, some accounts charge a fee if your balance drops below a certain level, or if you exceed a withdrawal limit in a month. Federal law limits savings account withdrawals to six per month; Chase may charge a fee if you go over. Read the fee schedule for your specific account type before opening.
What happens after your account opens
Your account is ready to use immediately. You can log into Chase.com or the mobile app to check your balance, transfer money, and set up automatic deposits. You cannot use a debit card right away — Chase will mail one to you, usually within 5 to 10 business days. Until it arrives, you can transfer money online or visit a branch to make deposits or withdrawals.
Set up direct deposit if you want your paycheck to go straight into savings. You'll need to give your employer your Chase account number and routing number, which you can find in online banking or on a check. Direct deposit usually takes one to two pay cycles to start. You can also set up automatic transfers from another account to move money into savings on a schedule.
If you already have a Chase checking account
Opening a savings account is even faster if you bank with Chase already. Log into your existing account on Chase.com and look for "Open Another Account" or "Add a Savings Account." You can open a new savings account without re-entering your personal information — Chase already has it on file. The process takes about five minutes.
You can link your new savings account to your existing checking account immediately and transfer money between them online. This makes it easy to move money into savings without leaving Chase's system. You'll still receive a debit card for the savings account by mail if you want one, though many people just use transfers and online access.
Frequently Asked Questions
Do I need a minimum deposit to open a Chase savings account?
Most Chase savings accounts do not require a minimum opening deposit. However, some products like money market accounts may require $25,000 or more to earn the advertised interest rate. Check the specific account details before you open to see if a minimum applies to the product you want.
How long does it take to fund my account after I open it?
If you fund with a debit card or transfer from another Chase account, the money appears in your savings account within minutes. Transfers from outside banks take one to three business days. Wire transfers typically arrive the same business day if sent before the bank's cutoff time, usually 2 p.m.
Can I open a savings account if I have been denied by ChexSystems before?
A ChexSystems denial does not automatically block you from opening a Chase account. You can still apply, and Chase will review your case. If you were denied for unpaid overdrafts or fraud, Chase may decline. Contact Chase directly to ask about your specific situation before applying online.
What is the difference between a Chase savings account and a money market account?
A money market account typically pays higher interest but requires a larger minimum balance and limits your withdrawals. A regular savings account has lower interest, no minimum balance requirement, and unlimited withdrawals. Choose based on how much you plan to keep in the account and how often you need to withdraw.
Can I open a savings account for someone else or as a joint account?
You can open a joint savings account with another person if you both visit a branch with your IDs and Social Security numbers. Online, you can only open an account in your own name. If you want to add an authorized user or joint owner later, visit a branch to make changes.