What you need to open a Chase savings account
You can open a Chase savings account online, by phone, or in a branch. Online takes about 10 minutes and requires a valid government ID, Social Security number, and an initial deposit (usually $25 minimum, though this varies by account type). You'll also need a current mailing address and either a Chase checking account or an external bank account to link for transfers.
If you're opening in person at a branch, bring the same documents plus a debit card or checkbook to verify your identity. By phone, call Chase at 1-800-935-9935 and a representative will walk you through the process and mail you a debit card once the account is open.
Chase offers several savings account types: the regular Chase Savings, Chase Premier Savings (requires higher balances), and Chase Secure Savings (for people building or rebuilding credit). Each has different minimum balance requirements and interest rates, so confirm which one fits your situation before you start.
Key Takeaways
- Online opening takes about 10 minutes and requires a government ID, Social Security number, and an initial deposit of at least $25.
- You can open in a branch with ID and documents, by phone at 1-800-935-9935, or online at chase.com.
- Chase Savings, Chase Premier Savings, and Chase Secure Savings have different minimum balance requirements and interest rates.
- Your debit card arrives by mail within 7 to 10 business days if you open online or by phone.
- You'll need either a Chase checking account or an external bank account to link for transfers and deposits.
Opening online step by step
Go to chase.com and click "Open an Account" or "Savings" in the top menu. Select the savings account type you want, then enter your email address and create a password. Chase will ask for your Social Security number, date of birth, and current address.
Next, you'll verify your identity. Chase uses either knowledge-based questions (they ask you details from your credit history) or instant verification through Experian. If you pass, you move to the funding step. If you don't have a Chase checking account, you'll link an external bank account and make a small deposit to confirm you own it—Chase will send two small deposits (usually under $1 each) and ask you to enter the amounts to verify.
Once verified, you choose your initial deposit amount and review the account terms. Chase will show you the interest rate, monthly fees (if any), and minimum balance requirements. Submit your application, and your account opens immediately. Your debit card ships within 7 to 10 business days.
Opening in a Chase branch
Walk into any Chase branch with a valid government ID (driver's license, passport, or state ID), your Social Security number, and proof of your current address (a utility bill or lease works). Tell the banker you want to open a savings account and which type interests you.
The banker will verify your identity, pull your credit report (a soft inquiry that doesn't affect your credit score), and ask about your banking history. They'll explain the account terms, interest rates, and any monthly fees. You'll sign the account agreement, make your initial deposit, and receive a temporary debit card on the spot or by mail within 7 to 10 business days.
Opening in branch takes 15 to 30 minutes. If you already have a Chase checking account, the process is faster because they already have your information on file.
Linking an external bank account for transfers
If you don't have a Chase checking account, you'll need to link an external account to fund your new savings account. During the online opening process, Chase will ask for your external bank's routing number and your account number. You can find both on a check or by logging into your bank's website.
Chase will send two small deposits to that account (usually $0.01 to $0.99 each) within 1 to 2 business days. Once they arrive, log into your Chase account, go to "Transfer Money," and enter the two amounts to verify you own the external account. After verification, you can transfer money between the accounts anytime.
If you're opening in a branch, the banker can link your external account for you on the spot, and you can make your initial deposit right then using a debit card or check.
What happens after your account opens
Your Chase savings account is active immediately after you complete the online application or sign the paperwork in branch. You can log in and see your balance, but your debit card won't arrive for 7 to 10 business days. Until then, you can transfer money in and out using your linked external account or by visiting a branch.
Chase will send you a welcome packet by mail with your debit card, account number, and routing number. Set up online banking login if you haven't already—go to chase.com, click "Sign In," and select "Enroll" to create your username and password. You can also download the Chase mobile app and add your new savings account there.
Your first interest payment (if any) posts on the last day of the month. The amount depends on your account type, your balance, and the current interest rate. Chase publishes its rates on its website and updates them when the Federal Reserve changes rates.
Minimum balance requirements and monthly fees
Chase Savings has no monthly fee and no minimum balance requirement. Chase Premier Savings requires a $10,000 minimum balance to earn the higher interest rate; if your balance drops below that, you earn a lower rate but don't pay a fee. Chase Secure Savings (for people with limited or poor credit) has no monthly fee and no minimum balance.
Some Chase savings accounts waive monthly fees if you maintain a linked Chase checking account or set up automatic transfers. Check the account terms when you open to see which fees apply to your specific account type.
If you close your account within 90 days of opening, Chase may charge an early closure fee (usually $25). This fee does not apply if you close after 90 days.
If you're denied or run into problems
Chase may deny your application if you have a negative banking history (unpaid overdrafts, fraud, or a ChexSystems report showing closed accounts with outstanding balances). If denied online, you'll see the reason on screen. Call 1-800-935-9935 to ask whether you can open a different account type or reapply after a waiting period.
If you're denied because of ChexSystems, you have the right to request a free copy of your report at www.chexsystems.com. You can dispute inaccurate information directly with ChexSystems or ask Chase to reconsider your application with a written explanation.
If your identity verification fails during online opening, Chase will ask you to visit a branch in person with your ID. Bring your government ID, Social Security card (or a document with your SSN), and proof of address. The banker can verify you on the spot and open your account.
Frequently Asked Questions
Can I open a Chase savings account without a Social Security number?
No. Chase requires a Social Security number or Individual Taxpayer Identification Number (ITIN) to open any account. If you have an ITIN, you can open an account in branch with your ITIN and a valid government ID.
How much money do I have to put in when I open the account?
The minimum initial deposit is usually $25, though some account types may require more. You can deposit by linking an external bank account, transferring from a Chase checking account, or depositing cash or a check in branch.
What's the difference between Chase Savings and Chase Premier Savings?
Chase Premier Savings pays a higher interest rate but requires a $10,000 minimum balance. Chase Savings has no minimum balance and no monthly fee. If you don't plan to keep $10,000 in savings, Chase Savings is the better choice.
How long does it take to open a Chase savings account online?
The application takes about 10 minutes. Your account opens immediately, but your debit card arrives by mail in 7 to 10 business days. You can start using your account right away through online transfers and in-branch deposits.
Can I open a Chase savings account if I have bad credit?
Yes. Chase Secure Savings is designed for people with limited or poor credit history. It has no monthly fee, no minimum balance, and does not require a credit check. You can open it online or in branch the same way as other Chase savings accounts.