You can add a savings account to Wells Fargo online, by phone, or in person at a branch
The fastest way is through Wells Fargo's online banking portal or mobile app: log in, go to "Accounts," select "Open an Account," and follow the prompts to choose a savings product. You'll answer questions about your account preferences (interest-bearing or basic savings), funding source, and initial deposit. The account opens immediately in most cases, and you can start using it the same day.
If you prefer to work with someone directly, call Wells Fargo at 1-800-869-3557 or visit a local branch. A representative can walk you through the available savings products, explain the differences in interest rates and fees, and open the account over the phone or in person. Bring a valid ID and your Social Security number if you go to a branch.
Wells Fargo offers several savings products: the basic Wells Fargo Savings account, the Wells Fargo Way2Save account (which offers interest and has no monthly service fee if you meet certain conditions), and the Wells Fargo Gold Savings account (which requires a higher opening deposit). The product you choose affects your interest rate, monthly fees, and minimum balance requirements.
Key Takeaways
- Online or mobile app signup takes minutes and the account is usually active the same day, with no branch visit required.
- You can also call 1-800-869-3557 or visit a branch if you want to discuss which savings product fits your situation before opening.
- Wells Fargo offers multiple savings products with different interest rates, fees, and minimum balance requirements—compare them before you choose.
- You'll need a valid ID and Social Security number, and an initial deposit (amount varies by product).
- Once opened, your new savings account links automatically to your existing Wells Fargo checking account for easy transfers.
What you need before you start
Have your Social Security number, a valid government-issued ID (driver's license or passport), and your current Wells Fargo account number ready. If you're opening the account online, you'll also need access to your email and a phone number where Wells Fargo can reach you if needed.
Know how much you want to deposit initially. Most Wells Fargo savings accounts require a minimum opening deposit, though the amount varies by product—some start at $25, others at $100 or more. Check the current requirements on Wells Fargo's website or ask a representative, since these can change.
If you're funding the new account from a non-Wells Fargo bank account, have that account number and routing number available. If you're transferring from an existing Wells Fargo account, the system will pull the money automatically once you confirm the transfer.
Opening a savings account online or through the mobile app
Log into your Wells Fargo account on wellsfargo.com or open the Wells Fargo mobile app. On the home screen, look for "Open an Account" or "Accounts" in the main menu. Select "Savings Account" from the product options.
The system will ask you to choose which savings product you want. Read the details for each: interest rate, monthly service fee (if any), minimum balance to avoid fees, and any other conditions. The Way2Save account, for example, waives the monthly service fee if you maintain a $500 minimum balance or set up automatic transfers of at least $25 per month.
Answer the remaining questions about your account preferences, then choose your funding source. You can transfer money from another Wells Fargo account, link an external bank account, or deposit cash at a Wells Fargo ATM after the account opens. Complete the process and wait for confirmation—most accounts activate within minutes.
Opening a savings account by phone or in person
Call Wells Fargo customer service at 1-800-869-3557 and tell them you want to open a savings account. A representative will ask about your banking needs, explain the available products, and help you choose the right one. They'll collect your personal information, Social Security number, and ID details over the phone.
At a Wells Fargo branch, bring your ID and Social Security number. A banker will review the savings products with you, discuss interest rates and fees, and open the account on the spot. You can make your initial deposit in cash or by check during the visit, or arrange a transfer from another account.
Opening in person or by phone takes longer than online—typically 15 to 30 minutes—but gives you a chance to ask questions and understand the terms before committing.
Linking your new savings account to your checking account
Once your savings account is open, it automatically appears in your Wells Fargo online banking and mobile app alongside your other accounts. You can transfer money between your savings and checking accounts instantly through online banking, the mobile app, or at an ATM.
To set up automatic transfers (for example, moving $50 to savings every payday), log into online banking, go to "Transfers," and select "Set Up Recurring Transfer." Choose the amount, frequency, and the accounts involved. The transfer will happen on the schedule you set.
Your new savings account gets its own debit card if you request one, though most people use it only for transfers and deposits, not everyday spending. Check with Wells Fargo about whether your specific savings product includes a debit card.
Understanding Wells Fargo savings account fees and interest rates
Wells Fargo savings accounts charge a monthly service fee (typically $5 to $12) unless you meet certain conditions. The Way2Save account waives the fee if you keep a $500 minimum balance or set up automatic monthly transfers of at least $25. Other products may have different requirements—ask about the specific conditions for the account you choose.
Interest rates on Wells Fargo savings accounts vary and change based on market conditions. As of now, rates are typically lower than those offered by online-only banks, but Wells Fargo's convenience and integration with your checking account may be worth the tradeoff. Check wellsfargo.com for current rates before you open.
If you fall below the minimum balance or miss the automatic transfer requirement, the monthly fee will be charged to your account. Set a calendar reminder to check your balance monthly, or set up the automatic transfer to avoid surprises.
What to do if you run into problems opening your account
If the online process stops or shows an error, try clearing your browser cache and logging in again. If the problem persists, call 1-800-869-3557 or visit a branch—a representative can troubleshoot the issue or open the account manually.
If your account doesn't activate within a few hours of applying online, contact Wells Fargo. Delays are rare, but they can happen if the system needs to verify your identity or if there's a technical issue. A representative can check the status and resolve it.
If you're denied a savings account, Wells Fargo will send you a notice explaining why. Common reasons include a negative banking history (reported through ChexSystems), unpaid fees at another bank, or fraud concerns. You can dispute inaccurate information in your ChexSystems report by contacting ChexSystems directly at 1-800-428-9623.
Frequently Asked Questions
Can I open a Wells Fargo savings account if I don't have a checking account?
Yes. You can open a savings account as a standalone product. However, if you plan to transfer money between accounts regularly, opening a checking account at the same time may be more convenient. Ask a Wells Fargo representative about bundled account options, which sometimes come with fee waivers.
How long does it take for money to show up in my new savings account?
If you transfer from an existing Wells Fargo account, the money appears instantly. If you're funding from an external bank account, the transfer takes one to three business days. Cash deposits at a Wells Fargo ATM post within 24 hours.
What's the difference between Wells Fargo's savings products?
The basic Savings account has a monthly fee and lower interest. Way2Save waives the fee if you maintain a $500 balance or set up automatic transfers. Gold Savings requires a higher opening deposit but may offer better interest rates. Compare the current rates and fees on wellsfargo.com or ask a representative which fits your situation.
Can I close my savings account if I change my mind?
Yes. You can close it online, by phone, or at a branch anytime. Withdraw or transfer any remaining balance first. If you close within a short time of opening (typically 90 days), Wells Fargo may charge a fee—ask about the current policy.
What happens if my account balance drops below the minimum?
You'll be charged the monthly service fee (if your product has one). The fee is deducted from your account, which can push your balance even lower. Set up an automatic transfer or keep a reminder to maintain the minimum and avoid the fee.