You can convert a savings account to a checking account, but the process and outcome depend on your bank
Most banks let you convert an existing savings account into a checking account without closing either one. The conversion usually takes a few minutes online or in person, and you keep the same account number and routing number. However, some banks require you to open a new checking account instead of converting the old one — they treat savings and checking as separate products that cannot be switched.
Before you convert, check whether your bank charges a monthly fee for checking accounts or requires a minimum balance. A savings account that costs nothing might become a checking account with a $10 monthly fee, or it might require you to maintain $500 at all times. If your bank does not offer conversion, you have two options: open a new checking account at the same bank and transfer your money, or move to a different bank that will convert for you.
Key Takeaways
- Most banks can convert a savings account to checking in minutes, either online or at a branch, without closing the account.
- Some banks do not allow conversion and will require you to open a new checking account instead, which means a new account number.
- Check your bank's fee structure for checking accounts before converting, because checking often costs more than savings.
- If your bank will not convert, you can transfer your money to a new checking account at the same bank or switch to a bank that offers conversion.
How to convert through your bank's website or app
Log into your online banking portal and look for an account settings or account management section. Most banks have a link labeled "Change Account Type," "Convert Account," or "Upgrade to Checking." Click it, select your savings account from the dropdown, and confirm the conversion. The change usually takes effect immediately, though some banks process it overnight.
If you cannot find the option online, your bank may require you to convert in person at a branch. Bring your ID and your savings account number. A teller can convert the account while you wait, or they can tell you whether your bank allows conversion at all. Call your bank's customer service number first if you want to confirm the option exists before making a trip.
What happens to your money and account details when you convert
Your balance stays in the account — nothing is transferred or moved. The account number and routing number usually remain the same, which means any automatic deposits or bill payments tied to that account will continue without interruption. If your bank does change the account number during conversion, they will tell you before it happens and give you time to update your employer or creditors.
The account history also stays attached to the same account. You will see all your past deposits and withdrawals in the same place. However, the account type changes in your bank's system, which means you may lose features that were specific to savings accounts — for example, some banks offer higher interest rates on savings but not on checking, so your interest rate may drop after conversion.
Fees and minimum balance requirements you should know before converting
Checking accounts often have monthly maintenance fees that savings accounts do not charge. These fees range from $0 to $15 per month depending on your bank, and some banks waive the fee if you maintain a minimum balance (often $500 to $2,500) or set up direct deposit. Savings accounts typically have no monthly fee or a much lower one.
Before you convert, log into your account or call your bank and ask: "What is the monthly fee for a checking account?" and "What are the ways to avoid that fee?" Write down the answer. If the fee is high and you cannot meet the minimum balance requirement, converting may cost you money each month. In that case, opening a new checking account at a different bank might be cheaper than converting your existing account.
When your bank will not allow conversion
Some banks, particularly smaller regional banks and some online banks, do not allow account type conversion. They treat savings and checking as completely separate products with different account numbers and different terms. If your bank falls into this category, you have two paths forward.
The first is to open a new checking account at your current bank and transfer your money from savings to checking yourself. This takes a few minutes online — you initiate a transfer from savings to the new checking account, and the money moves within one business day. You will then have two separate accounts at the same bank, and you can close the savings account if you no longer need it.
The second path is to switch to a different bank that does allow conversion. If you want to keep your money in one account and avoid opening a second one, this may be worth it. Online banks like Ally, Charles Schwab, and Discover often allow conversion, as do most large national banks like Chase, Bank of America, and Wells Fargo.
How to transfer money if you open a new checking account instead
If your bank requires you to open a new checking account rather than convert, you can move your savings to the new account in one of three ways. The fastest is an internal transfer through your bank's website or app — you log in, select "Transfer Money," choose your savings account as the source and your new checking account as the destination, enter the amount, and confirm. The money arrives within one business day, usually the same day.
The second method is to visit a branch and ask a teller to transfer the money for you. They can do it on the spot, and the money is available immediately. The third method is to withdraw cash from savings and deposit it into checking, though this is slower and leaves you holding cash in the meantime.
After the transfer, you can close the old savings account if you do not need it. Call your bank or visit a branch to close it. Some banks charge a fee if you close an account within a certain period (often 90 to 180 days), so ask about that before you close.
What to do if you want to keep both a savings and checking account
You do not have to convert your savings account if you want to keep it. Many people maintain both a checking account for everyday spending and a savings account for money they want to set aside. If that is your goal, open a new checking account instead of converting, and leave your savings account as is.
To open a new checking account at your current bank, visit a branch or go to the bank's website and look for "Open an Account" or "New Accounts." You will need your ID, Social Security number, and an initial deposit (usually $25 to $100). The account opens within a few minutes online or within an hour at a branch. Once it is open, you can transfer money from your savings account to your new checking account whenever you need it.
Frequently Asked Questions
Will I lose my account history if I convert my savings account to checking?
No. Your transaction history stays attached to the account. You will see all past deposits and withdrawals in the same place after conversion. The only thing that changes is the account type and the features available to you.
What if I have automatic deposits going to my savings account?
After conversion, those deposits will continue to go to the same account number. Since the account number usually does not change during conversion, your employer or whoever sends the deposit will not need to update anything. If your bank does change the account number, they will notify you in advance.
Can I convert back to a savings account later?
Yes, most banks allow you to convert back to savings if you change your mind. The process is the same — log into your account settings and select the conversion option, or visit a branch. However, check whether converting back will trigger any fees or reset any promotional rates you may have received.
Do I need to close my old account to open a new checking account?
No. You can have both a savings and a checking account open at the same time at the same bank. You only need to close the savings account if you no longer want it. Closing is optional.
What if my bank charges a fee to convert?
Most banks do not charge a fee to convert an account type. However, some may charge a small fee ($5 to $10) or require a minimum opening deposit for the new account type. Call your bank before converting to confirm there are no hidden fees.