How to add a savings account to Chase
You can add a savings account to your Chase profile in two ways: online through Chase.com or the Chase mobile app, or in person at a Chase branch. The online method takes about five minutes and requires your Social Security number, initial deposit amount, and a valid ID. If you already have a Chase checking account, the process is faster because Chase already has your identity verified.
The app and website both walk you through the same steps: select "Open an Account," choose "Savings," pick which type of savings account you want (Chase Savings, Chase Secure Savings, or Chase First Banking, depending on your situation), enter your personal information, fund the account, and confirm. You'll receive a confirmation number immediately, and your account becomes active the same day for transfers and deposits.
If you prefer to open an account in person, bring a government-issued ID and your Social Security number to any Chase branch. A banker will verify your information, discuss which savings account fits your needs, and set up the account while you wait. You can fund it with cash, a check, or a transfer from another account.
Key Takeaways
- Online account opening through the Chase app or website takes about five minutes and your account is active the same day.
- You need a valid government ID, your Social Security number, and an initial deposit to open a savings account.
- If you already have a Chase checking account, opening a savings account is faster because your identity is already verified.
- You can fund your new savings account immediately with a transfer from another Chase account, an external bank account, or cash deposited at a branch.
- Chase offers multiple savings account types with different features and interest rates, so compare them before you choose.
What information you'll need to have ready
Before you start, gather your Social Security number, a valid government-issued ID (driver's license, passport, or state ID), and your current address. Chase will ask for your phone number and email address as well. If you plan to fund the account with a transfer from another bank, have that account's routing and account numbers available.
If you're opening the account online, you'll also need to decide on an initial deposit amount. Chase does not require a minimum opening deposit for most savings accounts, but you may want to deposit at least $1 to activate the account immediately. If you're opening in person at a branch, you can deposit cash or a check at that time.
Linking an external bank account to fund your new savings account
If you want to transfer money from a bank account outside of Chase, you'll need to add that account as an external transfer destination. During the account opening process, Chase will ask whether you want to fund the account from another Chase account or from an external bank. If you choose external, enter the routing number and account number of the bank you're transferring from.
Chase will verify the external account by depositing two small amounts (usually under $1 each) into that account, then asking you to confirm the amounts. This verification typically takes one to two business days. Once verified, you can transfer money between that external account and your new Chase savings account whenever you want.
If you don't have the external account information during signup, you can add it later through the Chase app or website under "Transfer Money" or "Manage External Accounts." The verification process is the same.
Choosing between Chase savings account types
Chase offers several savings account options, and the right one depends on how you plan to use it. Chase Savings is the standard option with no monthly fee and no minimum balance requirement. Chase Secure Savings is designed for people building or rebuilding credit and requires a deposit that becomes a loan collateral. Chase First Banking is for customers under 18 and includes parental controls.
Interest rates vary by account type and change regularly, so check Chase.com for current rates before you decide. Some accounts offer higher rates if you maintain a minimum balance or set up automatic deposits. The difference in interest earned can be small, but if you're keeping a large balance, it's worth comparing.
What happens after you open your account
Your savings account number and routing number will appear in the app or on the website within minutes of opening. You can use these numbers to set up automatic transfers, direct deposits, or payments from other banks. Your debit card (if you have one) will not work with the savings account—savings accounts don't come with debit cards, only checking accounts do.
You can transfer money between your Chase checking and savings accounts instantly through the app or website, with no limit on how many transfers you make per month. Transfers to or from external banks typically take one to three business days, depending on the other bank's processing time.
If you opened the account online, you'll receive a welcome email with your account details and a link to set up online banking if you haven't already. If you opened in person, the banker will give you a receipt with your new account number.
Troubleshooting common issues when adding a savings account
If your application is declined, Chase will tell you why—usually because of a ChexSystems report (a banking history report), an issue with your ID, or a mismatch between the information you entered and what's on file. You can dispute a ChexSystems report by contacting ChexSystems directly, or you can call Chase at the number on your rejection letter to ask what went wrong.
If you're having trouble verifying an external bank account, make sure you entered the routing number and account number correctly. If the verification deposits don't arrive after three business days, contact the other bank to confirm they received them. Some banks flag small deposits as suspicious and hold them; calling that bank's customer service can speed up the process.
If you can't see your new account in the app after opening it online, try logging out and logging back in, or refreshing the app. Sometimes it takes a few minutes for a new account to appear. If it still doesn't show after 30 minutes, call Chase customer service.
Frequently Asked Questions
Can I open a Chase savings account without a Social Security number?
No. Chase requires a Social Security number to open any deposit account. If you don't have one, you may be able to open an account with an Individual Taxpayer Identification Number (ITIN) at some branches, but policies vary by location. Call your local Chase branch to ask whether they offer this option.
How much money do I need to open a Chase savings account?
Most Chase savings accounts have no minimum opening deposit. You can open an account with $0 and deposit money later, though some people prefer to deposit at least $1 to activate the account immediately. Chase Secure Savings requires a deposit that becomes collateral for a loan, so the minimum there is higher.
Can I open a savings account if I'm not a Chase customer yet?
Yes. You can open a savings account as your first Chase account. The process is the same whether you're new to Chase or already have a checking account there. If you're new, verification may take slightly longer because Chase needs to confirm your identity from scratch.
What's the difference between opening online and opening in person?
Online opening is faster (about five minutes) and your account is active immediately. In-person opening lets you ask questions and deposit cash or a check on the spot, but it takes longer. Both methods result in the same account with the same features and fees.
Can I transfer money from my savings account to pay bills?
You can transfer money from your savings account to your Chase checking account, and then use your checking account to pay bills. You cannot pay bills directly from a savings account because savings accounts don't come with a debit card or checkbook. Transfers between your own Chase accounts are instant and free.