Add a savings account online, by phone, or in person

You can open a new Wells Fargo savings account without leaving home by logging into your online banking account, calling Wells Fargo at 1-800-869-3557, or visiting a branch in person. The online method is fastest — you answer questions about account type and funding source, review the terms, and the account opens immediately. By phone or in branch, a representative walks you through the same steps but can answer questions as you go.

If you already have a Wells Fargo checking account, adding a savings account takes about five minutes online. If you're a new customer to Wells Fargo entirely, you'll need to provide your Social Security number, date of birth, and a government-issued ID to verify your identity before any account opens.

Once the account is open, you can transfer money into it the same day using online banking, mobile app, or by visiting a branch. Money transferred between your own Wells Fargo accounts moves instantly.

Key Takeaways

  • Existing Wells Fargo customers can add a savings account online in about five minutes by logging into their account and selecting the option to open a new account.
  • New Wells Fargo customers must provide a Social Security number, date of birth, and government-issued ID to open any account, whether online, by phone, or in branch.
  • Money transferred between your own Wells Fargo accounts arrives instantly, so you can move funds into your new savings account the same day it opens.
  • Wells Fargo offers several savings account types with different interest rates and minimum balance requirements, so compare the options before choosing which one to open.
  • If you have questions during the process, calling 1-800-869-3557 connects you to a representative who can explain account features and help you choose the right type.

What you need before you start

Have your Social Security number, date of birth, and a government-issued ID (driver's license, passport, or state ID) ready before you begin. If you're opening an account online, you'll also need your current Wells Fargo username and password to log in.

If you're funding the new account with a transfer from another bank, have that account's routing number and account number available. For transfers between your own Wells Fargo accounts, you won't need any additional information — the system pulls from accounts already linked to your profile.

New customers should also have a phone number and email address ready, as Wells Fargo uses these to send account confirmations and security alerts.

Opening a savings account online

Log into your Wells Fargo online banking account and look for a link labeled "Open an Account" or "Add Account" — this is usually in the main menu or under a "Accounts" section. Click it and select "Savings Account" from the list of account types.

Wells Fargo will show you the savings account options available to you. Compare the interest rates, minimum balance requirements, and monthly fees for each type. The most common options are Wells Fargo Way Savings (no minimum balance, lower interest rate) and Wells Fargo Platinum Savings (higher interest rate, but requires a higher opening deposit). Choose the one that fits your situation and click "Continue."

Answer the questions about how you plan to fund the account. You can transfer money from another Wells Fargo account, transfer from an external bank account, or deposit cash at a branch later. Select your choice and provide the account details if needed. Review the account terms and disclosures, then click "Agree and Open Account." Your new savings account will appear in your online banking within minutes.

Opening a savings account by phone

Call Wells Fargo at 1-800-869-3557 and tell the representative you want to open a savings account. They'll ask for your Social Security number, date of birth, and current address to verify your identity. Have your government-issued ID nearby in case they ask for specific information from it.

The representative will explain the savings account options and their features, then ask which type you want to open. They'll also ask how you want to fund it — from another Wells Fargo account, from an external bank, or in person at a branch. Provide the account details if you're transferring from outside Wells Fargo.

Once you've answered all the questions and agreed to the terms, the account opens on the call. The representative will give you your new account number and confirm when you can start using it. Ask them to email or mail you the account details for your records.

Opening a savings account in person at a branch

Visit any Wells Fargo branch with your government-issued ID and Social Security number. Tell a representative you want to open a savings account. They'll verify your identity, show you the account options, and explain the features of each one.

Choose the account type that works for you. The representative will ask how you want to fund it — you can transfer from another Wells Fargo account right there, transfer from an external bank (which takes one to three business days), or deposit cash immediately. If you're depositing cash, bring it with you or plan to do it the same day.

Sign the account agreement and any other required documents. The representative will give you your account number and a receipt. Your account is active immediately, and you can start using it online or through the mobile app as soon as you get home.

Funding your new savings account

If you're transferring from another Wells Fargo account you own, log into online banking, go to your new savings account, and select "Transfer Money." Choose the account to transfer from, enter the amount, and confirm. The money arrives instantly and shows up in your savings account balance right away.

If you're transferring from a bank outside Wells Fargo, you have two options. You can provide your external bank's routing and account number during account setup, and Wells Fargo will pull the money (this takes one to three business days). Or you can wait until your savings account is open, then log into your external bank's online banking and send an ACH transfer to your new Wells Fargo account using the routing number and account number Wells Fargo gave you.

If you want to deposit cash, visit a Wells Fargo branch with your new account number and deposit it at the teller window or ATM. Cash deposits at the branch are available in your account immediately. ATM deposits may take until the next business day to post.

Different Wells Fargo savings account types

Wells Fargo offers several savings accounts with different features. Wells Fargo Way Savings has no minimum opening deposit and no monthly service fee, but the interest rate is lower than other options. Wells Fargo Platinum Savings requires a higher opening deposit (the amount varies) and pays a higher interest rate. Wells Fargo Gold Savings sits between the two in terms of deposit requirement and interest rate.

Interest rates change over time and vary based on economic conditions, so check the current rates on Wells Fargo's website or ask a representative which account offers the best rate for your situation. If you're planning to keep a large balance, the higher-rate accounts may earn you more money even with a higher opening deposit requirement.

All Wells Fargo savings accounts come with online banking access, mobile app access, and the ability to transfer money to other accounts you own. You can also set up automatic transfers to move money into savings on a schedule — for example, a set amount every payday.

Frequently Asked Questions

How long does it take to open a Wells Fargo savings account?

Online accounts open immediately after you agree to the terms — you can start using it within minutes. Phone and branch accounts also open on the call or during your visit. If you're funding it with a transfer from another bank, that transfer takes one to three business days to arrive, but your account itself is ready to use right away.

Can I open a savings account if I'm not a Wells Fargo customer yet?

Yes. You'll need to provide your Social Security number, date of birth, and government-issued ID whether you're opening just a savings account or a checking account at the same time. New customers can open accounts online, by phone, or in person at a branch.

What's the difference between Wells Fargo Way and Platinum Savings?

Way Savings has no minimum deposit and no monthly fee but pays a lower interest rate. Platinum Savings requires a higher opening deposit and charges a monthly fee if your balance falls below a certain amount, but pays a higher interest rate. Compare current rates on Wells Fargo's website to see which earns more for your situation.

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

Yes. Log into online banking, select your new savings account, choose "Transfer Money," pick your checking account as the source, enter the amount, and confirm. The transfer happens instantly and the money shows up in your savings account right away.

Do I need to visit a branch to open a savings account?

No. You can open an account entirely online or by phone without visiting a branch. You only need to go in person if you want to deposit cash to fund the account, or if you prefer to speak with someone face-to-face during the process.