What you need before you start
You can open a Wells Fargo savings account entirely online using a computer or the Wells Fargo mobile app. The process takes about 10 minutes and requires a few pieces of information: your Social Security number, a valid government-issued ID (driver's license or passport), your date of birth, and a current mailing address. You will also need a way to fund the account—either a debit card, another bank account for a transfer, or a wire transfer.
Wells Fargo will run a background check through ChexSystems, which is a banking history database. This check looks at your past banking behavior, not your credit score. If you have had accounts closed due to fraud or unpaid fees at other banks, this may affect whether Wells Fargo opens your account.
You must be at least 18 years old to open an account on your own. If you are under 18, you will need a parent or guardian to open a custodial account instead.
Key Takeaways
- You can complete the entire signup process online through Wells Fargo's website or mobile app without visiting a branch.
- Have your Social Security number, government ID, and a funding source ready before you begin.
- Wells Fargo will check your banking history through ChexSystems, which may take a few minutes to complete during signup.
- Your account is usually ready to use the same day, though transfers from other banks may take one to three business days to arrive.
- You can set up automatic transfers and bill pay immediately after your account opens.
Step-by-step signup on the Wells Fargo website
Go to wellsfargo.com and click "Open an Account" at the top of the page. Select "Savings" from the account type options. Wells Fargo offers several savings products—the basic savings account, money market account, and certificates of deposit (CDs)—so make sure you choose the one you want. For most people, the basic savings account is the right choice.
Enter your email address and create a password. This becomes your login for online banking. Wells Fargo will send a verification code to your email; enter it on the next screen to confirm your email is real.
Fill in your personal information: full name, date of birth, Social Security number, and current address. Answer security questions about your identity. Wells Fargo uses these to verify you are who you say you are.
Review the account terms and disclosures. These documents explain the interest rate (which varies), monthly fees (if any), and rules about withdrawals. Click to accept them and move forward.
Funding your new account
After your account opens, you will see options to add money. You can transfer funds from another bank account, deposit money using a debit card, or arrange a wire transfer. If you use a debit card, the money is usually available immediately. If you transfer from another bank, it typically takes one to three business days, depending on your other bank's processing speed.
You do not have to fund the account right away. You can open it and add money later, though some accounts require a minimum opening deposit—check the account details before you finish signup to see if yours does.
If you are transferring from another bank, have that account number and routing number ready. Your other bank's website or a check will show both numbers.
What happens after you submit
Wells Fargo runs the ChexSystems check immediately. In most cases, you will see a decision within minutes. If the check passes, your account opens right away and you can log in to online banking and set up transfers.
If Wells Fargo needs more information, they will ask you to verify your identity in a different way—sometimes by uploading a photo of your ID or answering additional security questions. This usually takes a few minutes.
If your application is denied, Wells Fargo will send you a letter explaining why. You have the right to request a copy of your ChexSystems report and dispute any errors on it. You can contact ChexSystems directly at chexsystems.com to review your report for free.
Using the Wells Fargo mobile app instead
The process is nearly identical on the Wells Fargo mobile app. Download the app from the Apple App Store or Google Play, tap "Open an Account," and follow the same steps as the website. The app may ask for permission to access your camera so you can photograph your ID for verification.
Some people find the app easier because it guides you through each step with clear prompts. Others prefer the website because the screen is larger. Either way works—you can start on one and finish on the other if you want.
Setting up transfers and bill pay
Once your account is open and funded, you can set up automatic transfers to move money between your Wells Fargo accounts or to pay bills. Log into online banking, go to "Transfers," and select the accounts you want to move money between. You can schedule transfers to happen once, on a set date each month, or on a recurring schedule.
Bill pay lets you send money to almost any company—utilities, credit cards, insurance, rent. Go to "Bill Pay" in online banking, add the company you want to pay, and schedule the payment. Wells Fargo sends the money electronically or by check, depending on the payee. Most payments arrive within one to three business days.
You can also set up direct deposit so your paycheck goes straight into your savings account. Ask your employer's payroll department for the direct deposit form, and provide them with your Wells Fargo account number and routing number (which you can find in online banking under "Account Details").
Frequently Asked Questions
How long does it take to open a Wells Fargo savings account online?
The signup process usually takes 10 to 15 minutes. Your account opens immediately after approval, which happens within minutes in most cases. If Wells Fargo needs to verify your identity further, it may take a few hours or up to one business day.
Do I need a minimum deposit to open a Wells Fargo savings account?
Minimum opening deposits vary by account type and change over time. Check the account details page during signup to see if your chosen account requires one. If it does, you can fund it right away or wait until later—Wells Fargo will tell you if there is a deadline.
What if Wells Fargo denies my application?
Wells Fargo will send you a letter with the reason. Common reasons include negative ChexSystems history, unpaid fees at another bank, or fraud. You can request your ChexSystems report for free at chexsystems.com and dispute any errors. You may also contact Wells Fargo directly to ask if you can reapply after a certain period.
Can I open a Wells Fargo savings account if I do not 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 use that instead, but you will need to verify it during signup.
Is my money safe in a Wells Fargo savings account?
Yes. Wells Fargo is a member of the Federal Deposit Insurance Corporation (FDIC), which means deposits up to $250,000 per account type are protected if the bank fails. Your savings account is insured separately from checking accounts, so you have $250,000 coverage in each.