What You Need to Open a Post Office Savings Account

Post Office savings accounts are run by the U.S. Postal Service through a program called Informed Delivery and Financial Services, though availability depends on your location. Not every post office offers savings accounts — you need to find one that participates in the program. Call ahead or visit your local branch to confirm they offer this service before you go in person.

To open an account, bring a government-issued photo ID (driver's license, passport, or state ID card work) and your Social Security number. You'll also need an initial deposit, which varies by post office but is typically between $25 and $100. Some branches may ask for a second form of ID or proof of address, such as a utility bill or lease agreement dated within the last 60 days.

The process takes about 15 to 30 minutes in person. You fill out a signature card, provide your information, make your deposit, and receive account details on the spot. Post offices do not currently offer online account opening, so you must visit a branch in person.

Key Takeaways

  • Not all post offices offer savings accounts — call your local branch first to confirm they participate in the program.
  • Bring a government photo ID, your Social Security number, and an initial deposit of $25 to $100 to open an account.
  • You must open the account in person at a participating post office; there is no online option.
  • Post Office savings accounts are FDIC-insured up to $250,000, the same protection as bank accounts.
  • Interest rates and monthly fees vary by location and account type, so ask about both before you deposit money.

Finding a Post Office That Offers Savings Accounts

The USPS Financial Services program is not available everywhere. To find out whether your local post office participates, visit the USPS website and use their branch locator tool, or call your post office directly and ask if they offer savings accounts. Some urban and suburban branches offer them; rural locations are less likely to have the service.

If your nearest post office does not offer accounts, you have two options: travel to a participating branch if one is reasonably close, or open an account at a traditional bank or credit union instead. Many banks offer savings accounts with no minimum deposit and lower fees than post offices charge.

What Happens During the Account Opening Visit

When you arrive at the post office, tell the clerk you want to open a savings account. They will ask you to complete a signature card, which is a form that records your name, address, Social Security number, and contact information. You'll sign the card in front of the clerk — this signature is used to verify your identity on future transactions.

The clerk will verify your ID, confirm your Social Security number, and explain the account terms, including the interest rate (if any) and any monthly maintenance fees. They will then process your initial deposit and give you a receipt with your account number. Some post offices issue a passbook (a small booklet that tracks deposits and withdrawals); others provide only a receipt and encourage you to track activity online or by phone.

Ask the clerk for written confirmation of your account number and the branch's phone number so you can contact them later with questions. Keep your receipt in a safe place.

Interest Rates and Fees at Post Office Savings Accounts

Post Office savings accounts earn interest, but the rate varies significantly by location and changes over time. Rates are typically lower than what online banks offer — often between 0.01% and 0.5% annually — but higher than what traditional brick-and-mortar banks pay. Ask the clerk what the current rate is before you deposit money, and request it in writing if possible.

Monthly maintenance fees also vary. Some post offices charge $5 to $10 per month; others charge nothing. A few branches waive the fee if you maintain a minimum balance, typically $500 to $1,000. Ask about fee waivers and whether the minimum balance is enforced, because falling below it can trigger charges.

Interest is usually credited to your account quarterly (every three months). You can withdraw money at any time without penalty, though some branches limit the number of withdrawals per month before charging a fee.

FDIC Insurance and Account Safety

Post Office savings accounts are FDIC-insured, which means your money is protected by the federal government up to $250,000 per account holder per bank. This is the same protection that regular bank savings accounts have. If the post office or its banking partner fails, your deposits are may provide by the FDIC.

You can have multiple accounts at different post offices, and each account is insured separately up to $250,000. If you have a joint account (opened with another person), the insurance limit is $250,000 per person, so $500,000 total for the two of you.

How to Deposit and Withdraw Money

After you open your account, you can deposit money by visiting the post office in person. Most branches accept cash and checks. Some allow you to set up automatic deposits from a bank account, though this varies by location — ask when you open the account.

Withdrawals must be made in person at the post office where you opened the account, or at another participating branch if the post office network allows transfers. You cannot withdraw money by mail, phone, or online. Bring your ID and account number when you withdraw.

If you need to access your money frequently, a post office savings account may not be convenient. Consider a traditional bank or credit union if you want to withdraw money at ATMs or through online banking.

Closing Your Account or Moving Your Money

You can close your Post Office savings account at any time by visiting the branch and asking to withdraw all funds. The clerk will process the withdrawal and close the account on the spot. There is no penalty for closing early.

If you want to move your money to another bank, you can withdraw the full balance in cash or ask the post office to issue a check. Some banks allow you to transfer funds directly from a Post Office account if you provide your account number, though this is not standard. Call your new bank to ask about their transfer process before you close the post office account.

Frequently Asked Questions

Can I open a Post Office savings account online?

No. Post Office savings accounts must be opened in person at a participating branch. You will need to bring your ID, Social Security number, and initial deposit. There is no online or phone option for opening an account.

What if my post office does not offer savings accounts?

Not all post offices participate in the USPS Financial Services program. Call your branch to confirm. If they do not offer accounts, you can open a savings account at a bank, credit union, or online bank instead. Many of these options have lower fees and higher interest rates than post offices.

Can I add money to my account by mail?

No. You must deposit money in person at the post office. Some branches allow automatic transfers from a bank account, but you should confirm this when you open your account. Withdrawals must also be made in person.

What happens if I fall below the minimum balance?

If your post office charges a monthly fee and requires a minimum balance to waive it, falling below that balance will trigger the fee. The fee is typically $5 to $10 per month. Ask the clerk what the exact minimum is and whether the fee is automatic or waived if you bring the balance back up.

Is my money safe in a Post Office savings account?

Yes. Post Office savings accounts are FDIC-insured up to $250,000, the same protection as bank accounts. If the post office or its banking partner fails, the federal government guarantees your deposits.