You can open a Chase savings account directly in the Chase mobile app in about 10 minutes
The Chase app lets you start a savings account without visiting a branch or calling. You'll need your Social Security number, a valid ID, proof of address, and an initial deposit method. The app walks you through identity verification, account setup, and funding in one session. Once approved, your account is active and you can transfer money to it immediately.
The process works the same whether you're a new Chase customer or already have a checking account with them. If you're new, you'll set up online banking access at the same time. If you already bank with Chase, the app simply adds a savings account to your existing profile.
Key Takeaways
- Download the Chase mobile app, tap "Open an account," and select "Savings" to begin; the whole process takes 10 to 15 minutes from start to finish.
- You will need your Social Security number, a government-issued ID, a current address, and a funding source (debit card, checking account, or external bank account).
- Chase verifies your identity in real time using information from credit bureaus and public records, so approval is usually instant.
- Your new savings account is ready to use as soon as you complete the application, and you can transfer money into it the same day.
- The interest rate on Chase savings accounts changes over time; check the current rate before you fund the account if that matters to your decision.
What you need before you start
Gather these items before opening the app. You'll need a valid government-issued ID — a driver's license, passport, or state ID card. Chase will ask you to photograph it or verify details from it during setup.
Have your Social Security number ready. Chase uses it to check your identity against credit bureaus and to report account activity to the IRS. You'll type it into the app during the application.
Provide a current address where you receive mail. Chase verifies this against public records. If you've moved recently and your ID doesn't match your current address, have a utility bill, lease, or bank statement showing your new address available to upload.
Decide on a funding source for your initial deposit. You can link a debit card, transfer from another bank account, or (if you already have a Chase checking account) transfer from that account. Chase does not require a minimum opening deposit, but you'll need to fund the account to activate it.
Step-by-step: opening the account in the app
Step 1: Open the Chase app and tap "Open an account." If you don't have the Chase app, download it from the Apple App Store or Google Play. Log in if you already have Chase online banking, or tap "Enroll" if you're new. Once logged in or enrolled, look for a button labeled "Open an account" or "+" on the home screen.
Step 2: Select "Savings Account." The app shows you account types. Tap "Savings Account" (not checking, money market, or other products). The app may show you current interest rates and account features at this point.
Step 3: Verify your identity. Chase asks for your Social Security number, date of birth, and address. It then runs a real-time check against credit bureaus and public records. This usually takes less than a minute. If Chase cannot verify you instantly, it may ask you to upload a photo of your ID or answer security questions based on your credit history.
Step 4: Review account details and set a PIN. The app shows you the account type, current interest rate, and any fees (Chase savings accounts typically have no monthly maintenance fee). You'll create a four-digit PIN for in-app transactions if you don't already have one.
Step 5: Choose your funding source and make an initial deposit. Select how you want to fund the account: debit card, external bank account, or existing Chase checking account. Enter the amount and complete the transfer. Transfers from a debit card or existing Chase account are usually instant. Transfers from an external bank account may take one to three business days to appear.
Step 6: Confirm and finish. Review the information you entered, then tap "Submit" or "Open Account." You'll see a confirmation screen with your new account number. The account is now active.
What happens after you submit your application
Your account is usually approved and active within minutes. You can see it in the app under "Accounts" and begin transferring money to it right away. If you funded it with a debit card or from an existing Chase checking account, the money appears immediately. If you transferred from an external bank account, Chase processes it as an ACH transfer, which typically takes one to three business days.
If Chase cannot verify your identity in real time, you'll receive an email asking you to upload documents or answer additional questions. This usually happens within a few hours. Once Chase reviews your submission, it will approve or deny the account and send you an email with the result.
You can access your savings account through the Chase app or online at chase.com. You can also visit a Chase branch to make deposits or withdrawals, though most people manage savings accounts entirely through the app.
Transferring money between your accounts
Once your savings account is open, you can move money between it and your Chase checking account (if you have one) or external accounts you've linked. In the app, tap your savings account, then tap "Transfer" or "Move money." Select the source account, the destination account, and the amount. Transfers between Chase accounts are instant. Transfers to or from external banks take one to three business days.
You can also set up automatic transfers on a schedule — for example, moving $50 to savings every payday. Tap "Transfers," then "Set up automatic transfer," and choose the frequency and amount. This helps you build savings without thinking about it each time.
If your application is denied or delayed
Chase may deny a savings account application if it cannot verify your identity, if you have a history of fraud or unpaid accounts, or if you appear on the ChexSystems or Early Warning Services lists (databases banks use to check account history). If this happens, Chase sends you a letter explaining the reason and your right to dispute it.
If your application is delayed, check your email for a message from Chase asking for more information. This usually means Chase needs you to upload an ID photo, a proof-of-address document, or answer security questions. Respond as quickly as you can; most delays are resolved within 24 hours.
If you're denied and want to try again, wait at least 30 days before reapplying. In the meantime, you can contact Chase customer service at the number on the back of your ID card (if you have one) or visit a branch to ask what information would help your next application.
Frequently Asked Questions
Can I open a savings account if I don't have a Chase checking account?
Yes. You can open a savings account as a new customer. During the app process, you'll set up online banking access and a username and password. You won't need an existing Chase account.
What's the minimum deposit to open a Chase savings account?
Chase does not require a minimum opening deposit. However, you must fund the account to activate it, so you'll need to transfer at least $1 to complete the application.
How long does it take for money to show up in my new savings account?
Transfers from a debit card or existing Chase checking account are instant. Transfers from an external bank account take one to three business days. The exact timing depends on your bank and the time of day you initiate the transfer.
Can I open multiple savings accounts through the Chase app?
Yes. Once your first savings account is open, you can open additional ones by tapping "Open an account" again and selecting "Savings Account." Some people use multiple accounts to save for different goals.
What if I want to close my savings account later?
You can close it through the app or by calling Chase customer service. Transfer any remaining balance to another account first, then request closure. Chase will confirm the closure by email.