What you need to open a Wells Fargo savings account

You can open a Wells Fargo savings account online, by phone, or in person at a branch. The bank requires a government-issued ID, your Social Security number, and an initial deposit. Most accounts need a minimum opening deposit of $25, though some savings products have higher minimums. You'll also need a current mailing address and a phone number.

If you're opening the account online or by phone, you'll need a debit card or bank account at another institution to fund the initial deposit. In-person applications at a branch can be funded with cash, check, or a transfer from another account. Wells Fargo will run a background check through ChexSystems, which is a banking history database — this is standard practice across the industry and does not affect your credit score.

Key Takeaways

  • You need a government ID, Social Security number, and $25 minimum deposit to open most Wells Fargo savings accounts.
  • Online and phone applications take 5 to 10 minutes, while in-person applications at a branch typically take 15 to 30 minutes.
  • Wells Fargo runs a ChexSystems check, which reviews your banking history but does not impact your credit.
  • Your account number and routing number are available immediately after opening, so you can set up direct deposits or transfers the same day.

Opening an account online

Go to wellsfargo.com and select "Open an Account" from the homepage. Choose the savings product you want — Wells Fargo offers several, including the Wells Fargo Way2Save Savings Account and the Wells Fargo Savings Account. The online form asks for your name, date of birth, Social Security number, address, phone number, and email. You'll create a username and password for online banking.

After you complete the form, you'll be asked to fund the account. You can use a debit card from another bank or transfer money from an existing bank account. The initial deposit posts immediately, and your account is active the same day. You'll receive a confirmation email with your account number and routing number. A physical debit card and checks (if you ordered them) arrive by mail within 7 to 10 business days.

Opening an account by phone

Call Wells Fargo at 1-800-869-3557 to open a savings account over the phone. A representative will walk you through the same information you'd enter online: name, date of birth, Social Security number, address, and phone number. The call typically takes 10 to 15 minutes. You'll need to provide a debit card or bank account number to fund the initial deposit.

After the call ends, your account is open and you'll receive a confirmation email with your account details. Your account number and routing number are available immediately, so you can set up direct deposits or bill payments right away. Physical cards and statements arrive by mail within the same timeframe as online accounts.

Opening an account in person at a branch

Visit your nearest Wells Fargo branch with your government ID and Social Security number. A banker will complete the application with you, which takes 15 to 30 minutes depending on how busy the branch is. You can fund the account with cash, a check, or a transfer from another account. If you use cash or a check, the deposit posts immediately. Transfers from other banks may take 1 to 3 business days.

You'll leave the branch with your account number, routing number, and temporary debit card access information. A permanent debit card arrives by mail within 7 to 10 business days. In-person applications are useful if you prefer to ask questions face-to-face or if you want to deposit cash on the spot.

What happens after you open the account

Your account is active the moment you complete the application, whether online, by phone, or in person. You can log into online banking and the Wells Fargo mobile app immediately using the username and password you created. Your account number and routing number are ready to use for direct deposits, bill payments, or transfers from other banks.

A physical debit card arrives within 7 to 10 business days. Until it arrives, you can use your account number to set up automatic transfers or direct deposits. If you need a debit card sooner, you can visit a branch and request a temporary card or expedited shipping. Wells Fargo also offers cardless ATM access through the mobile app, so you can withdraw cash from Wells Fargo ATMs without a physical card.

Fees and account features

Most Wells Fargo savings accounts have no monthly maintenance fee if you maintain a minimum balance or set up a direct deposit. The minimum balance requirement varies by account type — some require $300, others $500 or more. If you fall below the minimum, Wells Fargo charges a monthly maintenance fee, typically $5 to $12 depending on the account.

Interest rates on savings accounts change based on market conditions and the Federal Reserve's rate decisions. Wells Fargo publishes current rates on its website, and you can compare them to other banks before opening. Most savings accounts come with online banking, mobile app access, and the ability to link external accounts for transfers. ATM access is free at Wells Fargo ATMs nationwide, but using an out-of-network ATM may result in a fee from the other bank.

Frequently Asked Questions

Can I open a Wells Fargo savings account if I don't have a Social Security number?

No. Wells Fargo requires a Social Security number or Individual Taxpayer Identification Number (ITIN) to open any account. If you have an ITIN, you can open an account using that instead. Bring documentation of your ITIN when you apply in person, or have it ready when you call or apply online.

What if Wells Fargo denies my application?

Wells Fargo may deny an application if ChexSystems shows a history of unpaid overdrafts, fraud, or other banking issues. You have the right to request a copy of your ChexSystems report and dispute any errors. Contact ChexSystems at 1-800-428-9623 to review your file. You can also ask Wells Fargo why your application was denied — the bank must provide a reason.

How long does it take to receive my debit card?

Standard delivery takes 7 to 10 business days. Wells Fargo offers expedited shipping for an additional fee, which typically arrives in 2 to 3 business days. You can also visit a branch to request a temporary card while you wait for the permanent one, or use cardless ATM access through the mobile app immediately.

Can I open multiple savings accounts at Wells Fargo?

Yes. Wells Fargo allows you to open multiple savings accounts under the same Social Security number. Each account has its own account number and can be used for different savings goals. However, FDIC insurance covers up to $250,000 per account type per bank, so be aware of coverage limits if you hold large balances across multiple accounts.

What's the difference between Wells Fargo savings accounts?

Wells Fargo offers several savings products with different features and interest rates. The Way2Save Savings Account has lower minimum balance requirements and is designed for frequent savers. Other accounts may offer higher interest rates but require larger minimum balances. Compare the options on Wells Fargo's website or ask a banker in person to find the account that fits your savings goals.