You cannot convert a savings account into a checking account—you need to open a new checking account instead

Banks treat savings and checking accounts as separate products with different rules, fees, and features. Your savings account will remain a savings account. What you can do is open a new checking account at the same bank or a different one, then move your money from savings into it. The process takes a few minutes to an hour, depending on whether you do it online, by phone, or in person.

If you want to close the savings account afterward, you can do that separately. But the account type itself cannot be changed—only replaced.

Key Takeaways

  • You must open a new checking account; you cannot change an existing savings account into a checking account.
  • Opening a checking account online or in person usually takes 5 to 30 minutes and requires your ID, Social Security number, and initial deposit.
  • You can transfer money from your savings account to your new checking account immediately after opening it.
  • Closing your old savings account is optional and can be done anytime after you have moved your money.
  • Some banks waive monthly fees or offer cash bonuses for new checking accounts opened during promotional periods.

Opening a checking account at your current bank

If you already have a savings account with a bank, opening a checking account there is the fastest route. You have three options: online, by phone, or in person at a branch.

Online: Log into your bank's website or app, look for "Open an Account" or "New Accounts," and select checking. You will answer questions about your account preferences (overdraft protection, debit card type, paper statements or digital only). The bank will verify your identity using information already on file. Most online applications finish in 5 to 15 minutes, and your account number appears immediately. Your debit card arrives by mail in 7 to 10 business days, though you can often use your account number to set up transfers or bill pay before the card arrives.

By phone: Call the customer service number on the back of your savings account card or statement. A representative will walk you through the same questions and can often activate your account on the call. This takes 15 to 20 minutes.

In person: Visit a branch with your ID and Social Security number. A banker will open the account, answer questions about features, and usually hand you a temporary debit card or checks on the spot. This takes 20 to 30 minutes.

Opening a checking account at a different bank

If you want to switch banks entirely, you will need to open a checking account from scratch. Bring or have ready: a government-issued photo ID, your Social Security number, and your current address. Some banks also ask for a phone number and email address.

Most banks require an opening deposit—typically $25 to $100, though some have no minimum. You can fund this deposit with money from your savings account at your current bank, a transfer from another account, or a check. If you open online, you can link your old savings account and transfer money immediately.

The new account opens within minutes online or during the appointment in person. Your debit card ships separately and arrives in 7 to 10 business days. Until it arrives, you can use your account number to set up direct deposit, bill pay, or transfers.

Moving money from savings to your new checking account

Once your checking account is open, transfer your savings balance to it. If both accounts are at the same bank, this is instant. Log into your account online or call customer service and request an internal transfer. You will see the money in your checking account within minutes.

If your savings account is at a different bank, you have two options. ACH transfer (Automated Clearing House) is free and takes 1 to 3 business days. Link your old savings account to your new checking account through your new bank's website, then initiate the transfer. Wire transfer is faster—usually same-day or next-day—but costs $15 to $30. Use this only if you need the money urgently.

You can also withdraw cash from your savings account and deposit it into checking, though this is slower and riskier if you are moving a large amount.

What happens to your old savings account

Your savings account does not close automatically when you open a checking account. It remains open and active until you close it. If you leave money in it, you will continue to earn interest (usually a small amount, often less than 0.5% annually depending on the bank). You will also continue to pay any monthly maintenance fees if the account has them.

To close the savings account, contact your bank by phone, in person, or through your online banking portal. Most banks require the account to have a zero balance before closing. If there is still money in it, transfer it out first. Closing takes a few minutes and is final—the account number cannot be reused.

Fees and requirements to know before you switch

Checking accounts often have different fees than savings accounts. Common monthly maintenance fees range from $0 to $15, though many banks waive them if you maintain a minimum balance (often $500 to $1,500), set up direct deposit, or use the bank's mobile app. Some checking accounts have no monthly fee at all.

Overdraft fees apply to checking accounts if you spend more than your balance. These typically cost $25 to $35 per overdraft. Some banks offer overdraft protection, which links your checking account to your savings account and automatically transfers money if you go negative—this usually costs $0 to $10 per transfer.

Debit card replacement fees, ATM fees outside the bank's network, and foreign transaction fees also vary by bank. Review your new bank's fee schedule before opening, or ask a banker to walk you through it.

Promotional offers when opening a new checking account

Many banks offer cash bonuses or waived fees for opening a new checking account during promotional periods. These offers typically require you to set up direct deposit, maintain a minimum balance for 60 to 90 days, or make a certain number of debit card purchases. Bonuses range from $50 to $300 depending on the bank and the offer.

Check your bank's website or call before opening to see if a promotion is running. These offers change frequently and are not always advertised prominently. If you are opening at a different bank, comparing offers across a few banks can help you choose which one to join.

Frequently Asked Questions

Can I have both a savings account and a checking account at the same bank?

Yes. Most people have both. You can keep your savings account open for emergency funds or long-term saving while using your checking account for everyday spending and bill pay. They are separate accounts with separate balances and separate account numbers.

Do I need to close my savings account if I open a checking account?

No. Closing is optional. If you want to keep the savings account for emergencies or to earn interest on a separate pool of money, you can leave it open. You only close it if you no longer need it.

How long does it take to open a checking account?

Online applications take 5 to 15 minutes. Phone applications take 15 to 20 minutes. In-person at a branch takes 20 to 30 minutes. Your account number is available immediately, but your debit card arrives by mail in 7 to 10 business days.

What if I have a negative balance in my savings account?

You cannot transfer a negative balance. Pay off any overdraft or fees owed before transferring money out. Once the balance is zero or positive, you can transfer what remains to your new checking account.

Can I open a checking account online if I do not have a bank account yet?

Yes, but you will need to verify your identity. Most banks use information from credit bureaus or ask you to upload a photo of your ID. Some banks require an in-person visit if you have no banking history. Call ahead to ask what your bank requires.