You can open a Chase savings account online in about 10 minutes using a computer or the Chase mobile app
Chase lets you start a savings account from home without visiting a branch. You'll need a valid government ID, a Social Security number, and proof of your current address. The whole process happens on your screen, and your account opens the same day in most cases. Money can move into it within one or two business days.
The account is real and fully functional immediately—you can set up automatic transfers, link it to a checking account, and start earning interest right away. Chase offers several savings products online, each with different interest rates and minimum balance requirements, so the first step is deciding which one fits your situation.
Key Takeaways
- You need a valid government ID, Social Security number, and proof of address (recent utility bill or bank statement) to open an account online.
- Chase offers multiple savings products online: a basic savings account, a high-yield savings account, and money market accounts, each with different rates and minimums.
- The account opens the same day, but transfers from outside banks take one to two business days to arrive.
- You can fund the account immediately using a linked Chase checking account, or wait for an external transfer to clear.
What documents you need before you start
Gather these items before you open your browser. You'll need a valid government-issued ID—a driver's license, passport, or state ID card. Chase will ask you to verify information from it during the application, so have it nearby.
You also need your Social Security number and proof of your current address. A recent utility bill, bank statement, lease agreement, or mortgage statement works. The document should show your name and address and be dated within the last 90 days. If you don't have one, a government-issued ID with your current address (like a driver's license) can substitute.
If you already have a Chase checking account, the process is faster—Chase already has your information on file. If you're new to Chase, the application takes longer because the bank verifies everything from scratch.
Steps to open the account on Chase.com or the app
On a computer: Go to chase.com, click "Open an Account" or "Savings," and select the savings product you want. Chase will walk you through a series of screens asking for your name, date of birth, address, phone number, and email. You'll enter your Social Security number and answer security questions. At the end, you'll review the account terms and electronically sign the agreement.
On the Chase mobile app: Open the app, tap the menu icon, select "Open an Account," choose your product, and follow the same steps. The mobile version is identical to the website version.
Chase will ask you to verify your identity by answering questions about your credit history or by uploading a photo of your ID. This step usually takes a few minutes. Once you pass verification, your account opens immediately, and you'll see it in your Chase dashboard.
How to fund your new savings account
If you have an existing Chase checking account, you can transfer money into the new savings account right away using the Chase app or website. Log in, go to "Transfer Money," select the checking account as the source and the new savings account as the destination, enter the amount, and confirm. The money moves within minutes to a few hours.
If you want to transfer money from a bank outside Chase, you'll need the routing number and account number of the external account. Go to "Add External Account" in your Chase dashboard, enter those details, and set up the transfer. Chase will deposit two small test amounts (usually under $1 each) into the external account within one to two business days to verify you own it. Once verified, you can transfer larger amounts, though transfers still take one to two business days to arrive.
You can also deposit cash at a Chase branch if you have one nearby, or set up automatic transfers from your paycheck through your employer's direct deposit system.
Understanding Chase savings account types and interest rates
Chase offers three main savings products online. The Chase Savings Account is the basic option with no monthly fee and no minimum opening deposit, though the interest rate is typically lower than other options. The Chase Premier Savings requires a higher opening balance (usually $25,000) but pays a higher interest rate. The Chase Money Market Account combines savings and checking features, lets you write checks, and often pays a competitive rate, but also requires a higher minimum balance.
Interest rates change frequently and vary based on market conditions. Check chase.com for current rates before you open, because the rate you see when you apply is the rate your account will earn. Rates are not locked in, so they can go up or down after your account opens.
All Chase savings accounts are FDIC-insured up to $250,000, meaning your money is protected even if Chase fails. If you have multiple accounts at Chase, each is insured separately up to the limit.
What happens after your account opens
Your account is ready to use the moment it opens. You can see it in the Chase app or on chase.com, set up automatic transfers, and start earning interest. Interest is calculated daily and deposited monthly into your account.
If you set up a transfer from an external bank, check the status in your Chase dashboard. Pending transfers show an estimated arrival date. Once the transfer clears, the money is yours and begins earning interest immediately.
You can link the savings account to a Chase checking account for easy transfers, or keep it separate. You can also set up alerts to notify you when your balance drops below a certain amount or when interest is deposited.
Common issues and what to do
If your application is declined, Chase usually sends an explanation by email or mail within a few days. Common reasons include a mismatch between the information you entered and what's on file with credit bureaus, or a history of unpaid bank accounts. You can call Chase at the number on the back of your debit card (or 1-800-935-9935 if you don't have one) to ask why and whether you can reapply.
If an external transfer is taking longer than two business days, log into your Chase account and check the transfer status. If it shows as pending, wait one more business day. If it shows as failed, Chase will return the money to your external account within one to two business days, and you'll see an error code explaining why. Common reasons include a wrong routing number, a closed account at the sending bank, or insufficient funds.
If you can't verify your identity during the application, Chase may ask you to visit a branch in person with your ID and proof of address. This usually happens if you're new to Chase or if there's a discrepancy in your information.
Frequently Asked Questions
Can I open a Chase savings account if I don't have a checking account with them?
Yes. You can open a savings account as your first Chase account. The process takes a bit longer because Chase verifies all your information from scratch, but it works the same way. You'll still need your ID, Social Security number, and proof of address.
How long does it take to transfer money from another bank into my new Chase savings account?
If you're transferring from a Chase checking account you already have, the money arrives within minutes to a few hours. If you're transferring from a different bank, it takes one to two business days after you set up the transfer. Chase first sends two small test deposits to verify you own the external account, which adds one to two business days before your first real transfer can go through.
What's the difference between a Chase savings account and a money market account?
A money market account lets you write checks and use a debit card, while a regular savings account doesn't. Money market accounts usually require a higher opening balance and pay a higher interest rate. If you just want to save and earn interest, a regular savings account is simpler. If you want to access your money by check or card, choose money market.
Will opening a savings account hurt my credit score?
No. Opening a savings account does not affect your credit score because Chase does not report it to credit bureaus. Chase may do a soft credit check to verify your identity, but that doesn't show up on your credit report or lower your score.
Can I close my Chase savings account online?
Yes. Log into your Chase account, go to account settings, and select "Close Account." Chase will ask you to transfer any remaining balance to another account or request a check. Once you confirm, the account closes within a few business days. You can also call Chase or visit a branch to close it.