Yes, you can open a Wells Fargo savings account entirely online
Wells Fargo lets you open a savings account through their website or mobile app without visiting a branch. The process takes about 10 minutes and requires basic information: your name, Social Security number, date of birth, address, phone number, and email. You'll need a valid government-issued ID to verify your identity, and you must be at least 18 years old.
Once you complete the online application, Wells Fargo reviews your information and usually approves or denies the account within minutes. If approved, you can fund the account immediately using a transfer from another bank, a debit card, or a check deposit through their mobile app. Your account number and routing number appear right away so you can set up direct deposits or transfers.
Key Takeaways
- You can start a Wells Fargo savings account on their website or mobile app in about 10 minutes without going to a branch.
- You'll need your Social Security number, a valid ID, and a way to fund the account—either from another bank, a debit card, or a mobile check deposit.
- Most applications are approved or denied within minutes, and you can begin using the account the same day.
- Wells Fargo savings accounts have monthly maintenance fees unless you meet balance requirements or set up direct deposits, so check the current terms before opening.
What information and documents you need to provide
Wells Fargo requires your full legal name, date of birth, Social Security number, current address, phone number, and email address. Have your government-issued ID ready—a driver's license, passport, or state ID card works. The system verifies your identity by checking this information against public records and credit bureaus.
You'll also need to decide how you want to fund the account. If you're transferring money from another bank, have that account number and routing number available. If you're using a debit card, have the card itself. If you plan to deposit a check through the mobile app, you can do that after the account opens.
How the online application process works step by step
Go to Wells Fargo's website or open their mobile app and select "Open an Account." Choose the type of savings account you want—Wells Fargo offers several, including their basic savings account and higher-yield options. Enter your personal information exactly as it appears on your ID.
Next, you'll verify your identity. Wells Fargo may ask security questions based on your credit history, or they may ask you to photograph your ID using your phone camera. Answer the questions or upload the photos as instructed. Once verification is complete, review the account terms and disclosures, then sign electronically.
After you submit the application, you'll see a confirmation page with your new account number. If the application is denied, Wells Fargo will tell you why and may suggest alternatives. If approved, fund the account using one of the methods you selected during signup, and your account is ready to use.
Funding your new account immediately after opening
Wells Fargo offers three ways to fund your account on the same day you open it. The fastest is an electronic transfer from another bank account—money typically arrives within one business day. You can also use a debit card to fund the account, though Wells Fargo may place a temporary limit on how much you can transfer this way.
If you have the Wells Fargo mobile app, you can deposit a check by photographing the front and back. The app processes the image and credits the funds to your account, usually within one business day. You don't need to visit a branch or use an ATM.
Monthly fees and balance requirements to avoid them
Wells Fargo savings accounts have a monthly maintenance fee that varies depending on which savings product you choose. The fee is typically waived if you maintain a minimum balance—often $300 to $500, depending on the account type—or if you set up a direct deposit of at least $25 per month from your employer or benefits.
Check the current fee structure on Wells Fargo's website before opening, because these terms change. Some accounts also waive the fee if you link them to a Wells Fargo checking account or if you're a student or senior. Ask during the application process which waiver options apply to you.
What happens if your application is denied
Wells Fargo may deny your application if you have unpaid overdrafts or negative balances at another bank, a history of fraud, or if you're listed in ChexSystems—a banking database that tracks account closures and disputes. If denied, Wells Fargo will provide a reason and may tell you that you can reapply after a certain period.
If you were denied because of ChexSystems, you can request your report for free from ChexSystems directly and dispute any errors. Some banks offer second-chance accounts for people with banking history issues; ask Wells Fargo whether they do. You can also try opening an account at a different bank while you work on resolving the issue.
Frequently Asked Questions
How long does it take to open a Wells Fargo savings account online?
The application itself takes about 10 minutes. Most decisions come back within minutes, though some applications may take a few hours if Wells Fargo needs to verify additional information. Once approved, you can fund and use the account the same day.
Can I open a Wells Fargo savings account if I don't have a Social Security number?
Wells Fargo requires a Social Security number or Individual Taxpayer Identification Number (ITIN) to open an account. If you don't have one, you'll need to obtain it before opening an account online. You may be able to open an account in person at a branch with additional documentation, but the online process requires an SSN or ITIN.
What if I don't have a government-issued ID?
Wells Fargo requires a valid government-issued ID to verify your identity during the online application. If you don't have a driver's license or passport, you can visit a branch in person with alternative forms of ID, such as a state ID card or tribal ID. The online process cannot proceed without a government-issued ID.
Can I open a Wells Fargo savings account if I'm under 18?
No, you must be at least 18 years old to open an account online. If you're under 18, a parent or guardian can open a custodial savings account at a Wells Fargo branch. Once you turn 18, you can open your own account online.
Will opening a savings account online hurt my credit score?
Opening a savings account does not hurt your credit score. Wells Fargo performs a soft inquiry, which does not appear on your credit report. Only hard inquiries—like those for a loan or credit card—affect your score.