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. The process takes about 10 to 15 minutes online. You will need a valid government-issued ID (driver's license, passport, or state ID), your Social Security number, and an initial deposit — usually $0 to $25, depending on the account type and current promotions.
Chase offers several savings account types: Chase Savings, Chase Premier Savings, and Chase Sapphire Savings. Each has different minimum balance requirements and interest rates. You can compare them on Chase's website before you start, or ask a banker in person which account fits your situation.
If you already have a Chase checking account, opening a savings account is faster — the bank already has your information on file. If you are new to Chase, the online process will ask you to verify your identity by answering security questions based on your credit history.
Key Takeaways
- You need a valid ID, Social Security number, and an opening deposit to start a Chase savings account online or in a branch.
- The online process takes 10 to 15 minutes and you can fund the account immediately from a bank transfer or debit card.
- Chase will verify your identity using security questions if you are a new customer; existing Chase customers can open an account faster.
- Different Chase savings accounts have different minimum balances and interest rates, so compare them before you open.
- You can manage your account online, through the Chase mobile app, or by calling 1-800-935-9935 once it is open.
Opening an account online
Go to chase.com and click "Open an Account" or "Savings" in the top menu. Select the savings account type you want. You will be asked to enter your name, address, date of birth, Social Security number, and email address. Chase will then ask security questions to verify your identity — these are based on your credit file and have multiple-choice answers.
After verification, you choose how much to deposit to open the account. You can transfer money from another bank account (this takes one to three business days) or use a debit card (instant). Once your deposit clears, your account is active and you can start using it immediately. Chase will send you a debit card by mail if you request one, though savings accounts do not require a card.
You will receive a confirmation email with your account number and routing number. Write these down or save them — you will need the routing number if you want to set up direct deposit or transfers from another bank.
Opening an account at a Chase branch
Find your nearest Chase branch using the branch locator on chase.com. Bring your ID, Social Security number, and the money for your opening deposit (cash or a check). A banker will walk you through the application, answer questions about account types, and set up your account on the spot.
In-person applications are useful if you want to ask about features, interest rates, or which account makes sense for your situation. The banker can also help you set up online banking and the Chase mobile app before you leave. If you open an account in person, you can usually start using it the same day.
Funding your new account
You have three ways to add money after you open: transfer from another bank, deposit a check through the mobile app, or visit a branch and deposit cash. Bank transfers take one to three business days. Mobile check deposit is usually available within 24 hours. Cash deposits at a branch are instant.
If you have direct deposit set up through your employer, you can add your new Chase savings account as a destination. Use the routing number (011000015 for most Chase accounts) and your new account number. Direct deposit usually shows up on your pay date.
What happens after you open
Chase will send you a welcome packet by mail with your account details and a debit card (if you requested one). You can log into your account online or through the Chase mobile app as soon as it is open. Set up a username and password during the opening process, or create them when you first log in.
You can set up alerts for low balances, large withdrawals, or transfers. You can also link your savings account to a Chase checking account for easy transfers between them. If you have questions after opening, call 1-800-935-9935 or visit a branch.
Fees and interest rates
Chase savings accounts do not charge monthly maintenance fees. However, some accounts have minimum balance requirements — if your balance drops below the minimum, you may lose the advertised interest rate or be charged a fee. Check the account details before you open to see if a minimum applies to the account you choose.
Interest rates on Chase savings accounts change based on the Federal Reserve's actions. Rates are typically lower than online-only banks, but higher than keeping money in a checking account. You can see the current rate for each account type on chase.com before you open.
If you already have a Chase account
If you have a Chase checking account or credit card, you can open a savings account even faster. Log into your existing Chase online banking, go to "Open an Account," and select savings. Chase already has your identity verified, so you skip the security questions. The account opens in minutes and you can transfer money from your checking account right away.
Linking your savings and checking accounts makes it easy to move money between them for free, any time. You can also set up automatic transfers — for example, moving $50 from checking to savings every payday.
Frequently Asked Questions
Can I open a Chase savings account if I do not have a Social Security number?
No. Chase requires a valid Social Security number or Individual Taxpayer Identification Number (ITIN) to open any account. If you have an ITIN, you can open an account in person at a branch with your ITIN and a valid ID.
How much money do I need to open a Chase savings account?
Chase Savings requires $0 to open (no minimum deposit). Chase Premier Savings and Chase Sapphire Savings have higher minimums — usually $10,000 to $25,000 — but offer higher interest rates. Check the current requirements on chase.com, as they change.
Can I open an account if I am under 18?
No. You must be at least 18 years old to open an account in your own name. Minors can open a Chase Youth Savings account with a parent or guardian as a co-owner. Visit a branch to set this up.
What if Chase denies my application?
Chase may deny an application if you have a negative banking history, unpaid fees at another bank, or fraud concerns. If denied, ask Chase why — you have the right to know. You can try again after six months or address the issue (like paying off old fees) and reapply.
Can I open multiple savings accounts at Chase?
Yes. You can open more than one savings account if you want to separate money for different goals. Each account has its own number and earns interest independently. There is no limit on how many you can open.