What you need to open a Wells Fargo savings account
You can open a Wells Fargo savings account online, by phone, or in person at a branch. The fastest route is online, which takes about 10 minutes. You will need a valid government-issued ID (driver's license, passport, or state ID), your Social Security number, and an initial deposit—usually $25, though this varies by account type and current promotions.
If you open online, you can fund the account immediately with a debit card, bank transfer, or wire transfer. If you open in a branch or by phone, a banker can walk you through funding options on the spot. Wells Fargo does not require a minimum balance to keep most savings accounts open, though some account types have different rules.
You will also need a current mailing address. Wells Fargo will send your debit card and account statements to this address unless you set up paperless statements online.
Key Takeaways
- Opening online takes about 10 minutes and requires only your ID, Social Security number, and an initial deposit of $25 or more.
- You can fund your new account immediately with a debit card, bank transfer, or wire transfer during the online signup process.
- Wells Fargo savings accounts do not require a minimum balance to stay open, though interest rates and fees vary by account type.
- After opening, log into your online account to set up alerts, link external accounts, and switch to paperless statements if you prefer.
Opening your account online
Go to wellsfargo.com and click "Open an Account" or "Savings Accounts." Select the savings account type you want—Wells Fargo offers several, including a basic savings account and higher-yield options. The site will ask for your name, date of birth, Social Security number, address, phone number, and email.
Enter your ID information next. Wells Fargo will verify your identity electronically using the details you provide. This usually takes a few minutes. If verification fails, you will be offered the option to open an account in a branch instead.
Once verified, you will choose your initial deposit method. Select debit card, bank transfer, or wire transfer. If you use a debit card, the charge posts immediately. If you use a bank transfer from another bank, it typically arrives within one to three business days. After funding, you will receive your account number and routing number right away, and your debit card will arrive by mail within 7 to 10 business days.
Opening your account in person or by phone
Call Wells Fargo at 1-800-869-3557 to open an account by phone, or visit your nearest branch. A banker will verify your identity, ask the same questions as the online process, and help you choose an account type. Bring your ID and Social Security number to a branch; by phone, you will provide these verbally.
In a branch, you can make your initial deposit on the spot using cash or a check. By phone, you will arrange a transfer from another bank account or provide a debit card. The account opens immediately, and you will receive your account number and routing number before you leave or hang up.
A debit card will be mailed to you, arriving in 7 to 10 business days. If you need one faster, ask the banker whether expedited delivery is available—some branches can issue a temporary card or arrange overnight shipping for a fee.
Setting up online and mobile access
After your account opens, create your online login at wellsfargo.com. Use your account number and the temporary password sent to your email. You will be asked to set a new password and choose security questions. Write down your password in a safe place; Wells Fargo cannot retrieve it for you.
Download the Wells Fargo mobile app from your phone's app store and log in with the same username and password. The app lets you check your balance, transfer money, deposit checks by photo, and set up alerts—all without visiting a branch.
In your online account settings, you can link external bank accounts for transfers, set up automatic transfers to your savings, and switch to paperless statements. Paperless statements arrive by email and are available in your online account within one business day of the statement date.
Linking other bank accounts and setting up transfers
To move money between Wells Fargo and another bank, log into your online account and go to "Transfer Money." Click "Link External Account" and enter the other bank's routing number and your account number there. Wells Fargo will make two small test deposits to that account—usually $0.01 and $0.02—within one to two business days.
Verify the amounts in your other bank's account, then return to Wells Fargo and confirm them. Once verified, you can transfer money between the accounts. Transfers typically take one to three business days, depending on the other bank.
You can also set up automatic transfers—for example, moving $50 to savings every payday. Go to "Transfers" and select "Set Up Recurring Transfer." Choose the amount, frequency, and start date. The transfer will happen automatically on that schedule until you cancel it.
Understanding fees and interest rates
Wells Fargo savings accounts do not charge a monthly maintenance fee. However, some actions do carry fees: overdraft protection costs $12.50 per transfer if you link your savings to cover a checking account shortfall, and wire transfers cost $15 for outgoing domestic wires.
Interest rates on Wells Fargo savings accounts are set by Wells Fargo and change based on market conditions. Current rates are listed on wellsfargo.com under each account type. Rates are typically lower than online-only banks but higher than traditional brick-and-mortar banks. Interest is compounded daily and posted to your account monthly.
If you maintain a linked Wells Fargo checking account, some savings products offer higher rates. Ask a banker whether you may have access to for a rate bump based on your account setup.
What to do if verification fails online
If Wells Fargo cannot verify your identity electronically, you will see a message asking you to open an account in a branch instead. This happens occasionally with new credit files, recent moves, or mismatches between your ID and credit bureau records.
Visit a Wells Fargo branch with your ID and Social Security number. A banker can open your account manually using the same information. This takes about 15 minutes and does not delay your account opening—you will have your account number and routing number the same day.
If you do not have a branch nearby, call 1-800-869-3557 and ask whether phone verification is available. Some regions allow phone-based account opening when online verification fails.
Frequently Asked Questions
How long does it take to open a Wells Fargo savings account?
Online opening takes about 10 minutes, and your account is active immediately. Your debit card arrives by mail in 7 to 10 business days. In-branch or phone opening also completes on the same day, with the same card delivery timeline.
Can I open an account if I do not have a Social Security number?
Wells Fargo requires a Social Security number or Individual Taxpayer Identification Number (ITIN) to open an account. If you have an ITIN, you can open an account using it instead. Bring your ITIN documentation to a branch or have it ready if opening by phone.
What is the minimum deposit to open a Wells Fargo savings account?
The minimum initial deposit is usually $25, though this can vary by account type and current promotions. Check wellsfargo.com for the specific account you want to confirm the current minimum.
Can I transfer money from another bank into my new Wells Fargo savings account?
Yes. You can link an external bank account and transfer money between them. Transfers typically take one to three business days. You can also have your employer deposit your paycheck directly into your Wells Fargo account if you provide them with your routing number and account number.
What happens if I do not use my savings account?
Wells Fargo will not close your account for inactivity. However, if your account has no transactions for a long period, Wells Fargo may mark it as inactive and stop sending statements. You can reactivate it anytime by making a deposit or withdrawal. Contact Wells Fargo if you are unsure about your account status.