The basic steps to open a Wells Fargo savings account

You can open a Wells Fargo savings account online, by phone, or in person at a branch. Online is fastest—you'll need your Social Security number, a government ID, and a way to fund the account (debit card, bank account, or wire transfer). The process takes about 10 minutes, and your account opens immediately.

If you go to a branch, bring the same documents plus proof of address (utility bill, lease, or recent bank statement). A banker will walk you through the application on their computer or on paper. By phone, call 1-800-869-3557 and a representative will guide you through the same questions asked online.

Wells Fargo will run a soft credit check and verify your identity through ChexSystems, a banking history database. They're looking for past fraud or unpaid overdrafts at other banks. Most people are approved on the spot. If there's a problem, Wells Fargo will tell you why and what to do next.

Key Takeaways

  • Online account opening takes about 10 minutes and requires your Social Security number, government ID, and a way to fund the account.
  • Wells Fargo runs a soft credit check and ChexSystems verification, which does not affect your credit score.
  • You can fund your new account immediately with a debit card, linked bank account, or wire transfer.
  • Minimum opening deposit varies by account type—some savings accounts have no minimum, while others require $25 or more.
  • You can open an account online, by phone at 1-800-869-3557, or in person at any Wells Fargo branch.

What documents and information you'll need

Have your Social Security number ready—Wells Fargo requires it to verify your identity and check for fraud. You'll also need a government-issued photo ID: a driver's license, passport, or state ID card. If you're opening an account for someone else (like a minor), you'll need both people's IDs and Social Security numbers.

Proof of address is required only if you're opening in person or by phone. A utility bill, lease agreement, mortgage statement, or recent bank statement all work. The document must show your name and current address and be dated within the last 60 days.

You'll need to choose how to fund the account. If you're using a debit card or linking a bank account, have that card or account number ready. If you're wiring money, Wells Fargo will give you the wire instructions after you open the account.

Funding your account and minimum deposit requirements

Wells Fargo savings accounts have different minimum opening deposits depending on the type. The Wells Fargo Way2Save Savings Account has no minimum deposit—you can open it with $0 and add money later. Other savings products, like the Wells Fargo Savings Account, may require $25 or more to open. Check the current requirements on Wells Fargo's website or ask when you start the application, because these can change.

You can fund your account immediately using a debit card, a linked checking or savings account from another bank, or a wire transfer. Debit card and bank transfers usually post within one business day. Wire transfers arrive the same day if sent before the bank's cutoff time (usually 2 p.m. local time).

If you don't have another bank account or debit card, you can open the account with no initial deposit and add money later by visiting a branch, using a mobile check deposit, or setting up a direct deposit from your employer.

What happens after you submit your application

If you applied online, your account opens immediately and you can start using it right away. You'll receive a confirmation email with your account number and login details for Wells Fargo's website and mobile app. Your debit card will arrive by mail within 7 to 10 business days.

If you applied in person or by phone, the banker or representative will tell you whether you're approved before you hang up or leave the branch. If approved, your account opens the same day. You'll get your account number immediately and can start using the account online or by phone transfer that day.

If Wells Fargo needs more information—for example, if your address couldn't be verified—they'll contact you by phone or email within one business day. Respond quickly so your account can open without delay.

Accessing your account online and by mobile app

Once your account is open, log into Wells Fargo's website using your Social Security number and a password you create. You can also download the Wells Fargo Mobile app from the Apple App Store or Google Play and log in with the same credentials. Both let you check your balance, transfer money, set up bill pay, and deposit checks by taking a photo.

If you opened your account in person, the banker will give you a temporary password or help you set one up on the spot. If you opened online, you'll create your password as part of the application. If you forgot your password, use the "Forgot Password" link on the login page to reset it.

You can also call Wells Fargo's customer service at 1-800-869-3557 to access your account, transfer money, or ask questions. Have your account number or Social Security number ready when you call.

Choosing the right Wells Fargo savings account for your needs

Wells Fargo offers several savings accounts with different features and interest rates. The Way2Save Savings Account has no minimum deposit and a lower interest rate but is good if you're just starting out. The Wells Fargo Savings Account requires a higher minimum but may offer a higher interest rate. The Wells Fargo Gold Savings Account is designed for customers who maintain a larger balance.

Interest rates change frequently and vary based on how much money you keep in the account. Check Wells Fargo's website for current rates before you open, or ask a banker in person. The rate you see when you open is the rate you'll earn, but it can change later if Wells Fargo adjusts its rates.

If you're opening an account for a child, Wells Fargo offers student savings accounts with parental controls. If you're opening a joint account with another adult, both people must be present (in person or by phone) and provide their own ID and Social Security number.

What to do if your application is denied

Wells Fargo may deny your application if ChexSystems shows unpaid overdrafts, fraud, or other banking problems at another bank. If this happens, Wells Fargo will send you a letter explaining why. You have the right to request a copy of your ChexSystems report and dispute any errors on it.

To get your ChexSystems report, visit www.chexsystems.com or call 1-800-428-9623. If you find an error, you can file a dispute directly with ChexSystems. This usually takes 30 days to resolve.

If you were denied because of your ChexSystems history, you may still be able to open a second-chance banking account at Wells Fargo or another bank. Ask Wells Fargo whether they offer this option, or contact a local credit union, which often has more flexible requirements.

Frequently Asked Questions

Can I open a Wells Fargo savings account without a Social Security number?

No. Wells Fargo requires a Social Security number to verify your identity and comply with federal banking law. If you don't have a Social Security number, you may be able to open an account using an Individual Taxpayer Identification Number (ITIN), but you'll need to visit a branch in person and bring additional documents. Call 1-800-869-3557 to ask whether this is an option.

How long does it take to open a Wells Fargo savings account?

Online takes about 10 minutes and your account opens immediately. In person at a branch, it usually takes 15 to 30 minutes. By phone, it takes 20 to 30 minutes. In all cases, you can start using your account the same day, though your debit card arrives by mail within 7 to 10 business days.

What if I don't have a government ID?

You'll need a government-issued photo ID to open an account. If you don't have a driver's license or passport, you can use a state ID card, tribal ID, or military ID. Visit a Wells Fargo branch in person with whichever ID you have and ask whether it's acceptable. Some branches may accept alternative documents if you can't get a standard ID.

Can I open a joint savings account with someone else?

Yes. Both account holders must provide their own Social Security number, government ID, and proof of address. You can open a joint account online if both people have the required documents, or in person at a branch. Both people must sign the application, either electronically or on paper.

What's the difference between a savings account and a checking account at Wells Fargo?

A savings account earns interest on your balance and is meant for money you're setting aside. A checking account is for everyday spending and usually doesn't earn interest. You can have both. Savings accounts typically limit you to six transfers or withdrawals per month, while checking accounts have no limit on debit card or check use.