What you need to do to open a joint savings account at Chase
To open a joint savings account at Chase, you and the other account owner must both visit a branch in person or call Chase to start the process by phone. Chase requires both account holders to provide government-issued photo ID, Social Security numbers, and proof of address (a recent utility bill or lease works). You will choose which type of joint account you want — most commonly "joint tenants with rights of survivorship," which means if one owner dies, the surviving owner automatically owns the full balance.
The entire process typically takes 15 to 30 minutes in a branch. If you apply by phone, Chase will mail you the account documents to sign and return. Once both owners have signed and Chase receives the paperwork, the account opens within a few business days. You can fund the account immediately in the branch or transfer money from another bank account afterward.
Key Takeaways
- Both account owners must provide photo ID, Social Security number, and proof of address; you cannot open a joint account for someone else.
- Chase offers joint accounts as "joint tenants with rights of survivorship" by default, meaning the surviving owner inherits the full balance if one owner dies.
- Opening in a Chase branch takes 15 to 30 minutes; opening by phone requires you to sign and return documents by mail, adding several days.
- Each owner can withdraw, deposit, and manage the account independently — Chase does not require both signatures for transactions.
- Both owners are responsible for overdraft fees and account maintenance, and both can see the full transaction history.
What documents and information to bring
Bring a government-issued photo ID for each account owner — a driver's license, passport, or state ID card. Chase also needs the Social Security number for both owners and proof of current address for each person, such as a recent utility bill, lease agreement, or mortgage statement dated within the last 60 days. If you have moved recently and your ID does not reflect your current address, bring both the ID and a separate proof-of-address document.
If either account owner is not a U.S. citizen, bring a valid passport or visa. Chase may ask additional questions about the source of funds if you plan to deposit a large sum immediately. Have the other account owner's contact information ready as well — Chase will need a phone number and email for the co-owner.
Opening in person versus by phone or online
Chase does not allow you to open a joint savings account entirely online; at least one step requires both owners to be present or to sign documents. The fastest route is to visit a Chase branch together. Both owners sit with a banker, provide ID and information, sign the account agreement, and walk out with the account open and a debit card ordered. The account is usually active the same day.
If you cannot both visit a branch, you can start the process by phone at 1-800-935-9935. Chase will mail the account agreement to both owners. Each owner must sign and return the documents separately. This route takes longer — typically 7 to 10 business days from the time Chase receives both signed agreements — but works if one owner lives far away or has scheduling conflicts.
How joint account ownership works at Chase
In a joint account, both owners have equal rights to all money in the account. Either owner can deposit funds, withdraw funds, close the account, or change account settings without permission from the other owner. Chase does not require both signatures on checks or transfers. This means if one owner withdraws all the money, the other owner cannot stop them — the account is not protected by a requirement for dual approval.
Both owners receive separate online banking access and can see the full transaction history. Chase sends statements to both owners' addresses on file. If one owner closes the account or initiates a transfer, the other owner will see it reflected in their online banking, but Chase does not notify the co-owner in advance. Overdraft fees, monthly maintenance fees (if applicable), and any other charges apply to the account as a whole and affect the balance both owners see.
Deposit insurance and liability for both owners
The Federal Deposit Insurance Corporation (FDIC) insures joint savings accounts up to $250,000 per owner, per bank. This means if you and a co-owner each contributed to the account, Chase will insure up to $250,000 in your name and up to $250,000 in the co-owner's name — a total of $500,000 if both limits are reached. The insurance applies only if the account is held as "joint tenants," which is Chase's default structure.
Both owners are equally liable for any overdrafts or negative balances. If the account goes overdrawn, Chase can pursue either owner for the full amount owed, regardless of who caused the overdraft. This is important to understand before opening a joint account with someone you do not fully trust with money management.
What happens if one owner wants to close the account or remove the other owner
Either owner can close a joint savings account unilaterally without the other owner's consent. If one owner closes the account, Chase will transfer the remaining balance to whichever owner initiated the closure, or Chase may require both owners to agree on how to split the funds. The safest approach is to contact Chase directly and ask how they handle this situation for your specific account.
You cannot remove one owner from an existing joint account and keep the account open. To change ownership, you must close the joint account and open a new account with only one owner, or open a new joint account with different owners. If you want to remove a co-owner, contact Chase at 1-800-935-9935 or visit a branch to discuss your options.
Fees and account requirements
Chase offers several joint savings account options, and fees vary by account type. The Chase Savings Account has no monthly maintenance fee if you maintain a minimum balance (typically $300) or set up direct deposit. If your balance falls below the minimum, Chase charges a monthly fee of around $5, though this varies by region and account type. Check with your local Chase branch or online for the exact fee structure for your area.
Interest rates on Chase savings accounts are typically very low — often less than 0.01% annually — so the account is best used for short-term shared savings rather than long-term growth. If you want higher interest, you might explore Chase Money Market Accounts or other banks' high-yield savings accounts, though those may have different joint account rules.
Frequently Asked Questions
Can I open a joint account if the other person is not present?
No. Chase requires both account owners to be present in person or to sign documents separately if opening by phone or mail. You cannot open a joint account on behalf of someone else, and the other owner must provide their own ID and Social Security number.
What if one owner dies — does the other owner automatically get the money?
Yes, if the account is set up as "joint tenants with rights of survivorship," which is Chase's standard structure. The surviving owner owns the full balance and can access it immediately. The account does not go through probate. If you want a different arrangement, ask Chase about other ownership structures when you open the account.
Can I set up the account so both owners have to sign off on withdrawals?
No. Chase joint savings accounts do not offer a dual-signature requirement. Either owner can withdraw or close the account without the other's permission. If you need both owners to approve transactions, you would need to explore business accounts or other financial institutions that offer that feature.
What if I want to add someone to my existing Chase savings account?
You cannot add an owner to an existing individual account. You must close the current account and open a new joint account with both owners present. Contact Chase at 1-800-935-9935 to discuss the process and any impact on your account balance or interest.
Do I need a minimum deposit to open the account?
Chase does not require a minimum deposit to open a joint savings account, but you must fund it with at least $0.01 to activate it. However, to avoid monthly maintenance fees, you typically need to maintain a minimum balance (usually $300) or set up direct deposit. Confirm the current requirement with your local branch.