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

The fastest way is online through Wells Fargo's website or mobile app. Log in to your account, look for the option to open a new account (usually labeled "Open an Account" or "Add Account"), select savings, and follow the prompts. You'll need your Social Security number, date of birth, and initial deposit amount. The account typically opens within minutes.

If you prefer to talk to someone, call Wells Fargo at 1-800-869-3557 and a representative can walk you through the process over the phone. You can also visit a local branch in person—bring your ID and the amount you want to deposit to open the account that day.

Wells Fargo offers several types of savings accounts: the standard Savings Account, the Way2Save Savings Account (which has lower minimum balance requirements), and high-yield options like the Savings Account with interest rates that vary. The type you choose affects your interest rate and any monthly fees, so check the current rates and terms before you decide.

Key Takeaways

  • Opening a new savings account online takes minutes and requires your Social Security number, date of birth, and an initial deposit amount.
  • You can also open an account by phone at 1-800-869-3557 or in person at any Wells Fargo branch with your ID and deposit money.
  • Wells Fargo offers multiple savings account types with different interest rates and minimum balance requirements.
  • Once the account is open, you can link it to your existing Wells Fargo accounts for transfers and bill pay.

What information you need before you start

Have your Social Security number, date of birth, and government-issued ID ready. You'll also need to decide how much money you want to deposit to open the account—Wells Fargo's minimum opening deposit varies by account type, so check before you begin. Most savings accounts require $25 to $100 to open, though some have no minimum.

If you're opening the account online, you'll also need access to your email and phone number for verification. Wells Fargo may send a code to your phone or email to confirm your identity before the account is activated.

Opening an account online through the Wells Fargo website

Go to wellsfargo.com and sign in to your existing Wells Fargo account. Look for "Open an Account" or a similar link, usually in the main menu or under "Products." Select "Savings Account" from the options shown.

You'll be asked to choose which type of savings account you want. Read the interest rate, monthly fee (if any), and minimum balance requirement for each option. Once you've chosen, enter your Social Security number, date of birth, and the amount you want to deposit. Wells Fargo will verify your identity and confirm your information.

After you submit, the account usually opens within a few minutes. You'll see the new account number in your online banking dashboard, and you can start using it right away. Transfers between your Wells Fargo accounts can happen immediately.

Opening an account through the Wells Fargo mobile app

The mobile app process is nearly identical to the website. Open the Wells Fargo app, sign in, and tap the menu icon (usually three horizontal lines). Look for "Open an Account" or "Add Account," then select "Savings Account."

Choose your account type, enter your Social Security number and date of birth, and specify your opening deposit. The app will ask you to verify your identity, often by sending a code to your phone. Once verified, the account opens and appears in your app immediately.

The mobile app can be faster if you already have it installed, since you don't need to navigate to a website. You can also take a photo of your ID if the app requests it for verification.

Opening an account by phone or at a branch

Call Wells Fargo's customer service line at 1-800-869-3557 and tell the representative you want to open a savings account. They'll ask for your Social Security number, date of birth, and which type of savings account you prefer. You can give them a debit card number or bank account number to pull the opening deposit from, or arrange to deposit money later.

At a branch, bring your government-issued ID and the cash or check you want to deposit. A banker will show you the savings account options, help you choose, and open the account on the spot. You'll receive your account number immediately and can start using the account the same day.

Branch hours vary by location, so check wellsfargo.com/locations to find your nearest branch and confirm it's open before you go.

Linking your new savings account to existing accounts

Once your new savings account is open, you can transfer money between it and your other Wells Fargo accounts. Log into online banking or the mobile app, go to "Transfers," and select the accounts you want to move money between. Transfers between your own Wells Fargo accounts are free and happen immediately.

You can also set up automatic transfers if you want to move a fixed amount to your new savings account on a regular schedule—for example, $50 every payday. This can help you build savings without thinking about it.

If you want to transfer money from an account at a different bank, you'll need to provide that bank's routing number and your account number there. Wells Fargo can set up an external transfer, though it may take one to three business days to complete.

Monthly fees and interest rates

Wells Fargo's savings accounts have different fee structures. Some accounts charge a monthly maintenance fee (typically $5 to $12) unless you maintain a minimum balance or meet other requirements, like setting up direct deposit. Other accounts, like Way2Save, have no monthly fee but may offer a lower interest rate.

Interest rates on savings accounts change over time and vary based on the account type and current market conditions. Check the current rates on wellsfargo.com before you open the account, since the rate you see when you open is the rate you'll earn. You can compare Wells Fargo's rates to other banks if you want to shop around.

Review your account statements monthly to confirm you're not being charged unexpected fees and that interest is being credited correctly.

Frequently Asked Questions

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

Online or through the app, the account opens within minutes. By phone, it takes about 10 to 15 minutes. In person at a branch, you can walk out with an open account the same day. The account number appears in your online banking immediately.

Can I open a savings account if I don't have a Wells Fargo checking account?

Yes. You can open a savings account as a standalone account. You'll still need your Social Security number, date of birth, and an opening deposit. Call 1-800-869-3557 or visit a branch to open without an existing Wells Fargo account.

What's the minimum opening deposit for a Wells Fargo savings account?

Most Wells Fargo savings accounts require $25 to $100 to open, though some accounts have no minimum. Check the specific account type you're interested in on wellsfargo.com to confirm the current requirement.

Can I have multiple savings accounts at Wells Fargo?

Yes. You can open as many savings accounts as you want. Some people open separate accounts for different goals—one for emergency savings, one for a vacation fund, and so on. Each account has its own number and can earn interest independently.

What if I need to close the new savings account later?

You can close it online, by phone, or at a branch. Transfer any remaining balance to another account first, then request closure. Wells Fargo will close it and send you any final interest payment. There's no penalty for closing a savings account.