You can add a savings account online, by phone, or in person at a Wells Fargo branch
The fastest way is online through your Wells Fargo account. Log in to wellsfargo.com or the Wells Fargo mobile app, go to the accounts section, and select "Open a new account" or "Add account." You'll choose the type of savings account you want, review the terms, and complete the application in about 10 minutes. The account opens immediately in most cases, and you can start using it the same day.
If you prefer to speak with someone, call Wells Fargo at 1-800-869-3557 during business hours, or visit a branch in person with your ID and Social Security number. A banker can walk you through the options and open the account while you wait. In-person applications also take about 10 to 15 minutes.
You do not need to have an existing Wells Fargo account to open a savings account, though having one makes the process simpler. If you're a new customer, you'll provide your Social Security number, date of birth, address, and employment information during the application.
Key Takeaways
- Online applications through wellsfargo.com or the mobile app are the fastest option and take about 10 minutes.
- You can also call 1-800-869-3557 or visit a branch to open an account with a banker's help.
- Wells Fargo offers several savings account types with different interest rates and minimum balance requirements, so compare them before you choose.
- Your new account is usually active the same day, and you can link it to an existing checking account or transfer money into it right away.
What information you'll need to provide
Have your Social Security number, date of birth, and current address ready. Wells Fargo will also ask for a phone number and email address. If you're employed, they may ask for your employer's name and your job title, though this is not always required.
If you're opening the account online, you'll enter this information into the application form. If you're in a branch or on the phone, the banker will collect it verbally or you'll enter it into their system while they assist you. Wells Fargo uses this information to verify your identity and comply with federal banking rules.
Types of savings accounts Wells Fargo offers
Wells Fargo has several savings account options, and the one you choose affects your interest rate and any monthly fees. The most common are the Wells Fargo Savings Account (the basic option), the Wells Fargo Way2Save Savings Account (designed for frequent savers with lower minimum balances), and the Wells Fargo Platinum Savings Account (which requires a higher opening deposit but pays a higher interest rate).
Interest rates and fees change over time and vary based on your balance and account activity. When you open an account online or in the app, Wells Fargo shows you the current rate and any monthly maintenance fees for each type. Compare these before you choose, because switching accounts later is possible but requires an extra step.
If you're not sure which account fits your situation, ask a banker in person or call customer service. They can explain the differences and help you pick the right one.
Linking your savings account to an existing checking account
If you already have a Wells Fargo checking account, you can link your new savings account to it during the application process or afterward. Linking lets you transfer money between the two accounts instantly through online banking or the mobile app, and it makes it easier to manage your money in one place.
To link accounts after opening the savings account, log into wellsfargo.com, go to the accounts section, and select the option to link or transfer between accounts. You'll choose which accounts to connect, and the link is active immediately. You can then move money between them anytime without fees.
Funding your new savings account
Once your account is open, you can deposit money into it in several ways. If you linked it to a Wells Fargo checking account, you can transfer money online or through the app instantly. You can also deposit cash or checks at any Wells Fargo branch, or set up an automatic transfer from another bank using your routing number and account number.
Your new savings account number appears in the app or online banking as soon as the account opens. If you need to deposit money from another bank, you'll use this account number and Wells Fargo's routing number (121000248 for most accounts) to set up the transfer. Some transfers from other banks take one to three business days to complete.
What happens after you open the account
Your savings account is ready to use immediately after opening. You'll receive a debit card in the mail within 7 to 10 business days if you ordered one, though you do not need a debit card to use a savings account—you can access it through online banking or the app. Your account statements will be available online, and you can choose to receive them by email or paper mail.
Wells Fargo will send you account documentation to your address on file, including your account number and routing number. Keep this information safe, as you'll need it to set up transfers from other accounts or to provide to your employer if you want direct deposit sent to this savings account instead of checking.
Frequently Asked Questions
Can I open a Wells Fargo savings account if I don't have a checking account with them?
Yes. You do not need an existing Wells Fargo account to open a savings account. You'll provide your personal information and Social Security number during the application, and the account opens independently. If you later open a checking account, you can link the two together.
Is there a minimum deposit required to open a savings account?
The minimum opening deposit varies by account type. Some Wells Fargo savings accounts require $25 or $100 to open, while others may require more. When you start the application online or in the app, Wells Fargo displays the minimum for each account type before you commit.
How long does it take to open a savings account online?
Online applications usually take 10 minutes or less, and your account is active the same day. You can start using it immediately through online banking or the mobile app, though transfers from other banks may take one to three business days to arrive.
Can I change my savings account type after I open it?
Yes. You can convert your account to a different Wells Fargo savings account type by contacting a banker in person, calling customer service, or using online banking. There is no fee to switch, and your account number stays the same.
What if I need to close the savings account later?
You can close a Wells Fargo savings account anytime by visiting a branch, calling customer service, or using online banking. If there is money in the account, you'll need to withdraw it or transfer it to another account before closing. There is no penalty for closing early.