What you need to open a Chase savings account

You can open a Chase savings account online, by phone, or in person at a branch. The fastest route is online — it takes about 10 minutes and you can start using the account the same day. You will need a valid government ID (driver's license, passport, or state ID), your Social Security number, and an initial deposit. Chase requires a minimum opening deposit that varies by account type, usually between $0 and $25.

If you do not have a government ID or Social Security number yet, you will need to visit a branch in person with additional documents. Chase accepts alternative IDs like an ITIN (Individual Taxpayer Identification Number) for people without a Social Security number, though requirements vary by state.

You will also need either a debit card from another bank or a linked external bank account to make that initial deposit if you are opening online. If you are opening in a branch, you can deposit cash or a check directly.

Key Takeaways

  • Online account opening takes about 10 minutes and requires a valid ID, Social Security number, and an initial deposit of $0 to $25 depending on the account type.
  • Chase offers several savings account types with different features and minimum balances, so compare them before you open to pick the one that matches how you plan to use it.
  • You can fund your new account immediately with a debit card or external bank transfer if you open online, or with cash or a check if you open in a branch.
  • Your account number and routing number are available as soon as the account opens, so you can set up direct deposit or bill pay right away.

Opening online through Chase.com

Go to Chase.com and select "Open an account" from the homepage. You will be asked to choose which type of savings account you want — Chase typically offers a standard savings account and a high-yield savings account (sometimes called a money market account). The high-yield version pays more interest but may have a higher minimum balance requirement. Read the current rates and fees for each before you choose.

Enter your personal information: full name, date of birth, address, phone number, and email. Chase will ask for your Social Security number and will run a soft credit check to verify your identity. This does not affect your credit score. You will then be asked to create a username and password for online banking.

Choose how you want to fund the account. If you have a debit card from another bank, you can enter that card number and the amount you want to deposit. If you prefer a bank transfer, you can link an external checking or savings account and transfer money from there. The deposit usually posts within one to two business days.

Review the account agreement and fee schedule, then submit. Chase will send you a confirmation email with your account number and routing number. Your debit card will arrive by mail within 7 to 10 business days, but you can use your account online and set up transfers immediately.

Opening in a Chase branch

Bring your government ID, Social Security number, and the initial deposit (cash or check). A Chase banker will walk you through the account setup on their computer while you are there. The process takes 15 to 20 minutes. You will choose your account type, set up online banking credentials, and sign the account agreement.

You can deposit cash or a check on the spot, and your account opens immediately. Your debit card will be ordered and mailed to you, or in some branches you can request a temporary card to use right away. Ask the banker whether your branch offers this option.

If you do not have a Social Security number, bring your ITIN and additional documents like a passport or consular ID. Rules vary by state, so call your local Chase branch ahead of time to confirm what documents they will accept.

Opening by phone

Call Chase customer service at 1-800-935-9935 to open an account over the phone. A representative will walk you through the same questions as the online form: personal information, Social Security number, and account type. They will verify your identity and set up your online banking login.

You will need to fund the account by providing a debit card number from another bank or linking an external bank account. Chase will mail you a debit card and send account details by email. This method takes longer than online or in-branch because you cannot deposit cash or a check over the phone.

What happens after you open the account

Your account is active as soon as the application is approved, usually within minutes if you open online. You can log into Chase.com or the Chase mobile app immediately to view your account, set up transfers, and manage settings. Your account number and routing number appear in your account details right away.

If you want to set up direct deposit from your employer, provide your employer with your account number and Chase's routing number (2111-0010 for most Chase accounts, though confirm this in your account details). Direct deposit typically begins within one to two pay periods.

Your debit card will arrive by mail. Once it arrives, you can activate it through the Chase app or website, or by calling the number on the back of the card. Until then, you can withdraw money at any Chase ATM using your account number, or transfer money to another account online.

Fees and minimum balance requirements

Chase savings accounts do not charge a monthly maintenance fee. However, some accounts have a minimum balance requirement — if your balance drops below it, you may lose interest or be charged a fee. The requirement varies by account type, so check the fee schedule for the specific account you are opening.

You can make up to six withdrawals or transfers per month from a savings account without penalty. After six, Chase charges a fee for each additional transaction. This is a federal rule that applies to most banks, not just Chase. Transfers to your own Chase checking account do not count toward this limit.

If you close your account within 90 days of opening, Chase may charge a $25 early closure fee. Check the current terms before you open to confirm whether this applies to the account type you want.

Frequently Asked Questions

Can I open a Chase savings account if I do not have a Social Security number?

Yes. Chase accepts an ITIN (Individual Taxpayer Identification Number) instead. You will need to open the account in person at a branch with your ITIN and additional ID like a passport or consular ID. Requirements vary by state, so call your local branch first to confirm what documents they need.

How much money do I have to deposit to open the account?

The minimum opening deposit is usually $0 to $25 depending on the account type. Check the current terms on Chase.com before you open, because minimums can change. You can deposit the minimum and add more money later.

When can I start using my new savings account?

Your account is active immediately after approval. You can transfer money, set up bill pay, and use Chase ATMs right away. Your debit card arrives by mail within 7 to 10 business days. Until then, you can withdraw cash at a Chase branch or ATM using your account number.

What is the difference between Chase's standard savings account and high-yield savings account?

The high-yield account pays more interest on your balance but may have a higher minimum balance requirement. Compare the current interest rates and minimums on Chase.com to decide which one fits your situation. If you plan to keep a large balance and want to earn more, the high-yield account usually makes sense.

Can I open a savings account for someone else, like a child?

Chase offers accounts for minors, but a parent or legal guardian must open the account and be listed as the account owner. The minor can be added as an authorized user. Visit a Chase branch or call 1-800-935-9935 to learn about minor account options and age requirements.