You can add a savings account to Wells Fargo online, by phone, or in person at a branch

The fastest way is through your Wells Fargo online account or mobile app: log in, go to the Accounts section, and select "Open a New Account." You'll answer questions about account type, funding source, and initial deposit, then complete the process in about 10 minutes. If you prefer to talk to someone, call Wells Fargo at 1-800-869-3557 or visit a branch with your ID and Social Security number. All three methods result in the same account—the channel you choose is just about what's easiest for you.

Wells Fargo offers several savings account types: the Wells Fargo Savings Account (the standard option with no monthly fee if you maintain a $300 minimum balance), the Wells Fargo Way2Save Savings Account (designed for frequent savers with lower minimums), and the Wells Fargo Gold Savings Account (for customers 55 and older). The account you open depends on which one you select during the signup process. Interest rates and fees vary by account type and change over time, so check the current rates on Wells Fargo's website before you decide.

Key Takeaways

  • Online signup takes about 10 minutes and requires your ID, Social Security number, and initial deposit amount.
  • You can link the new savings account to an existing Wells Fargo checking account or open both at the same time.
  • Most Wells Fargo savings accounts require a $300 minimum balance to avoid monthly fees, though some accounts have lower thresholds.
  • Once the account is open, you can transfer money between your Wells Fargo accounts immediately through online banking or a branch.

What you need before you start

Have your Social Security number, government-issued ID (driver's license or passport), and current address ready. If you're opening the account online, you'll also need to decide how much money you want to deposit initially—Wells Fargo accepts transfers from another bank account, a debit card, or a check. If you already have a Wells Fargo checking account, the system will recognize it and let you link the new savings account to it automatically.

If you're opening the account at a branch, bring the same documents plus your debit card or checkbook from your existing Wells Fargo account (if you have one). The branch employee can verify your identity faster with these items on hand. You don't need to bring cash, though you can if you want to make an immediate deposit.

Opening an account online or through the mobile app

Log into your Wells Fargo account at wellsfargo.com or open the Wells Fargo mobile app. On the homepage, look for "Open a New Account" or "Accounts" in the main menu. Select "Savings Account" and choose which type you want (standard Savings, Way2Save, or Gold). The system will ask you to confirm your personal information, which it already has on file.

Next, decide how you want to fund the account. You can transfer money from another Wells Fargo account you own, link an external bank account and transfer from there, or deposit a check through mobile deposit. Enter the amount you want to deposit—there's no required minimum to open most accounts, though some have a $25 or $300 minimum to avoid monthly fees. Review the account terms, agree to them, and submit. The account opens immediately, and you can start using it right away.

Opening an account by phone

Call Wells Fargo at 1-800-869-3557 and tell the representative you want to open a savings account. Have your ID and Social Security number ready. The representative will ask you the same questions as the online process: which account type, how much to deposit initially, and where the money is coming from. They'll verify your identity and confirm your mailing address.

The call typically takes 15 to 20 minutes. Once it's complete, the account opens the same day, and the representative will give you the account number. If you're funding it from an external bank account, the representative will walk you through linking that account, which can take one to two business days to verify. You can start using the account for transfers between your own Wells Fargo accounts immediately.

Opening an account in person at a branch

Bring your ID, Social Security number, and current address to any Wells Fargo branch. Tell the employee you want to open a savings account and which type. They'll pull up your information (if you're an existing customer) or create a new profile (if you're not). The process takes about 15 minutes.

You can fund the account with cash, a check, or a transfer from another Wells Fargo account. If you want to transfer from an external bank account, the employee can set that up, but the transfer itself takes one to two business days to complete. The account opens the same day, and you'll receive your account number and debit card information before you leave.

Linking your new savings account to an existing checking account

If you already have a Wells Fargo checking account, the system automatically links your new savings account to it during signup. This means you can transfer money between the two accounts instantly through online banking, the mobile app, or an ATM. You don't need to do anything extra—the link is built in.

If you're opening both a checking and savings account at the same time, you can link them during the signup process by selecting both account types. The system will treat them as one relationship, so transfers between them are immediate and free. You'll have one login for both accounts.

What happens after you open the account

Your new savings account is ready to use immediately. You can start transferring money into it from your checking account, other Wells Fargo accounts, or external bank accounts. If you funded it with a check or external transfer during signup, that money will arrive within one to two business days.

You'll receive a debit card for the savings account in the mail within 7 to 10 business days, though you don't need it to use the account—you can transfer money and manage the account online or through the app right away. Set up online banking alerts if you want notifications when your balance drops below a certain amount or when a transfer completes. Review the account's interest rate and fee structure on your first statement to understand what you're earning and what you're paying.

Frequently Asked Questions

Do I need an existing Wells Fargo account to open a savings account?

No. You can open a savings account as your first Wells Fargo account. If you don't have an existing account, you'll need to provide your ID, Social Security number, and initial deposit, but the process is the same whether you're new to Wells Fargo or already a customer.

How much do I need to deposit to open a savings account?

There's no required minimum deposit to open most Wells Fargo savings accounts. However, some accounts require a $300 minimum balance to avoid a monthly fee. Check the account terms before you open to see if a fee applies and what balance keeps it waived.

Can I transfer money between my Wells Fargo accounts right after opening?

Yes. If you're funding the new account from an existing Wells Fargo account, that transfer is immediate. If you're funding from an external bank account, that transfer takes one to two business days, but once it arrives, you can move money between your Wells Fargo accounts instantly.

What if I want to close the savings account later?

You can close it anytime through online banking, the mobile app, by phone, or at a branch. Transfer any remaining balance to another account first, then request the closure. There's no penalty for closing a Wells Fargo savings account.

Will opening a new account affect my credit score?

No. Opening a savings account is not a credit event. Wells Fargo does not run a hard credit inquiry for savings accounts, so it won't show up on your credit report or affect your score.