What you need to open a Wells Fargo savings account
You can open a Wells Fargo savings account in person at a branch, online through their website, or by phone. The fastest route is online — you can complete it in about 10 minutes if you have the required documents ready. In person takes longer but lets you ask questions and hand over paperwork on the spot.
Wells Fargo requires a government-issued photo ID (driver's license, passport, or state ID), your Social Security number, and an initial deposit. The minimum opening deposit varies by account type — some savings accounts require $25, while others require $100 or more. You will also need a current mailing address and a phone number.
If you are opening an account online, you will need a valid email address and a debit card or bank account to make the initial deposit. If you are opening in person, you can deposit cash or a check. By phone, you will need to provide the same information verbally and arrange the deposit separately.
Key Takeaways
- You can open a Wells Fargo savings account online in about 10 minutes, in person at a branch, or by phone at 1-800-869-3557.
- Bring a government-issued photo ID, your Social Security number, and be ready to make an opening deposit of $25 to $100 depending on the account type.
- Online applications require an email address and a way to fund the account (debit card or existing bank account); in-person applications accept cash or checks.
- Wells Fargo will verify your identity and check your banking history through ChexSystems before your account is activated.
Opening an account online
Go to wellsfargo.com and click the link to open a savings account. You will be asked to choose which type of savings account you want — Wells Fargo offers several, including their basic savings account and higher-yield options. Read the details for each to understand the interest rate, monthly fees, and minimum balance requirements.
Enter your personal information: full name, date of birth, Social Security number, current address, phone number, and email address. Wells Fargo will ask whether you are a U.S. citizen and whether you have had a Wells Fargo account before. Answer honestly — if you have had an account closed for cause (overdrafts, fraud, or policy violations), Wells Fargo may decline to open a new one.
Verify your identity by uploading a photo of your government-issued ID. Wells Fargo uses automated verification, so make sure the photo is clear and the ID is not expired. They will also ask you to verify your address — this usually means confirming the address on file or receiving a code by mail.
Choose how to fund the account. You can transfer money from an existing bank account (using routing and account numbers) or charge a debit card. The deposit will typically post within one to two business days. Once the deposit clears, your account is open and ready to use.
Opening an account in person at a branch
Find your nearest Wells Fargo branch using their branch locator on wellsfargo.com. Bring your government-issued photo ID, your Social Security number (or a document with it, like a tax return), and your initial deposit in cash or check form. You do not need an appointment, but calling ahead during busy times can save you a wait.
Tell the banker you want to open a savings account. They will ask you the same questions as the online form: your full name, date of birth, address, phone number, and whether you have had a Wells Fargo account before. They will also ask about the source of your funds — this is a standard anti-money-laundering question and does not mean they suspect anything.
The banker will make a copy of your ID and run a ChexSystems check, which is a banking history report. If you have had accounts closed for overdrafts or fraud, this will show up. Wells Fargo may still open your account, but they may restrict certain features or require a higher opening deposit.
Hand over your opening deposit and sign the account agreement. The banker will give you a temporary debit card or card number on the spot, though the physical card will arrive by mail in five to seven business days. Your account is active immediately, even before the card arrives.
Opening an account by phone
Call Wells Fargo at 1-800-869-3557 to open a savings account by phone. Have your government-issued ID, Social Security number, and current address ready. The representative will walk you through the same questions as the online and in-person routes.
The representative will verify your identity by asking security questions based on your credit history — things like "Which of these addresses have you lived at?" or "Which of these lenders have you borrowed from?" Answer accurately. If you cannot answer enough questions correctly, they may ask you to come into a branch instead.
Once your identity is verified, you will choose your account type and agree to the terms. The representative will then ask how you want to fund the account. You can authorize a transfer from an existing bank account (you will need to provide the routing and account numbers) or arrange to mail a check. Some representatives can also take a debit card number over the phone, though this is less common.
After the call, your account is open but not yet funded. The deposit will post within one to two business days. Your debit card will arrive by mail in five to seven business days.
What happens after you open the account
Wells Fargo will send you a welcome packet by mail with your account number, routing number, and information about online banking. You can set up online access immediately by going to wellsfargo.com and creating a login using your email address and a password you choose.
Your debit card will arrive separately in five to seven business days. Activate it by calling the number on the back of the card or using the Wells Fargo app. You can use the card to withdraw cash from any Wells Fargo ATM or any ATM in the Allpoint network (over 55,000 ATMs worldwide).
Set up direct deposit if your employer or a government agency sends you regular payments. You will need to provide your employer or agency with your Wells Fargo account number and routing number (available in your welcome packet or online). Direct deposits typically post within one to two business days of being sent.
Review your account settings online. Wells Fargo lets you set up alerts for low balances, large withdrawals, or deposits. You can also turn overdraft protection on or off — this determines whether Wells Fargo will cover overdrafts or decline transactions that would overdraw your account.
Fees and interest rates
Wells Fargo savings accounts do not charge a monthly maintenance fee, but some accounts have minimum balance requirements. If your balance falls below the minimum, you may lose the stated interest rate or be charged a fee — check the specific account terms when you open.
Interest rates on Wells Fargo savings accounts are typically very low, often less than 0.01% annually. This means a $1,000 balance might earn less than $0.10 per year. If you are saving for a specific goal, you may want to compare rates at other banks or credit unions, which sometimes offer higher yields.
If you overdraw your account (spend more than you have), Wells Fargo charges an overdraft fee of $35 per transaction if overdraft protection is turned on. If overdraft protection is off, transactions that would overdraw your account are simply declined, and you are not charged a fee.
If Wells Fargo declines to open your account
Wells Fargo may decline to open an account if you have a history of fraud, if you owe money to Wells Fargo from a previous account, or if you cannot verify your identity. They will tell you the reason in writing.
If the reason is a ChexSystems report, you have the right to see what it says. Contact ChexSystems at 1-800-428-9623 or chexsystems.com to request your report for free. If there is an error, you can dispute it directly with ChexSystems.
If you have been declined, you can try opening an account at a credit union or a different bank. Some banks and credit unions have more lenient policies for people with banking history issues. You can also try again at Wells Fargo after a year has passed, as older negative marks carry less weight.
Frequently Asked Questions
Can I open a Wells Fargo savings account without a Social Security number?
No. Wells Fargo requires a Social Security number or an Individual Taxpayer Identification Number (ITIN) to open any account. If you do not have either, you will need to obtain one before opening an account. An ITIN is available through the IRS if you are a non-citizen with U.S. tax obligations.
How long does it take to open a Wells Fargo savings account?
Online applications take about 10 minutes and your account is active immediately after approval. In-person applications take 15 to 30 minutes and your account is active the same day. By phone, the call takes 15 to 20 minutes, but your account is not funded until the deposit clears, which takes one to two business days.
What is the minimum opening deposit at Wells Fargo?
The minimum opening deposit is $25 for most Wells Fargo savings accounts, though some higher-yield accounts require $100 or more. Check the specific account terms when you choose which type to open. The deposit can be cash, a check, or a transfer from another bank account.
Can I open a Wells Fargo savings account if I have been declined before?
It depends on why you were declined. If the reason was a ChexSystems report, you can try again after disputing errors or waiting for negative marks to age. If you were declined for fraud or owing money to Wells Fargo, you will likely be declined again until that issue is resolved. Contact Wells Fargo directly to ask whether you are now able to open an account.
Do I need to open a checking account to open a savings account?
No. You can open a savings account at Wells Fargo without having a checking account. However, many people open both at the same time for convenience — you can transfer money between them instantly online and use the checking account for everyday spending while the savings account earns interest.