What You Need to Open a Post Office Savings Account

A Post Office Savings Account (also called a Savings Account at the Post Office) is opened in person at your local Post Office branch. You will need a valid government-issued photo ID, proof of your current address, and your Social Security number. The Post Office does not open these accounts online or by mail — you must visit a branch yourself.

Proof of address can be a utility bill, lease agreement, mortgage statement, or government document dated within the last 60 days showing your name and current address. If you do not have a recent document, call your local Post Office ahead of time to ask what they will accept, since some branches have slightly different rules.

You will also need to decide whether you want a regular Savings Account or a Recurring Deposit Account (where you commit to depositing a fixed amount each month). Most people choose the regular Savings Account for flexibility. The minimum opening deposit varies by Post Office location but is typically between $500 and $1,000 — call ahead to confirm the exact amount your branch requires.

Key Takeaways

  • You must visit a Post Office branch in person with a photo ID, proof of address, and your Social Security number to open an account.
  • The minimum opening deposit is usually between $500 and $1,000, though this varies by location.
  • Post Office Savings Accounts earn interest, and the rate is set by the government and changes quarterly.
  • You can withdraw money at any time, but some withdrawal limits may apply depending on your account type.
  • The Post Office will give you a passbook to track deposits, withdrawals, and interest earned.

Finding Your Local Post Office and Checking Hours

Use the USPS location finder at usps.com to search for branches near you. Enter your zip code or address, and the tool will show you the nearest Post Offices, their hours, and services offered. Not every Post Office branch handles savings accounts — some smaller locations do not — so check the listing to confirm the branch you plan to visit offers savings account services.

Call the branch directly before you go. The phone number appears in the search results. Ask whether they currently have the account type you want (regular or recurring), what the minimum deposit is, and whether they need you to bring anything beyond ID and proof of address. Some branches may ask you to bring a completed form ahead of time, which they can email or fax to you.

The Steps to Open Your Account in Person

Bring your photo ID, proof of address, and your Social Security number to the Post Office. Arrive during regular business hours — most branches are open Monday through Friday and some on Saturday mornings. Tell the postal worker you want to open a Savings Account and whether you want a regular or recurring deposit account.

The postal worker will ask you to fill out a form with your personal information, including your name, address, date of birth, and Social Security number. They will verify your ID and address documents. You will then make your opening deposit — this can be cash, a check, or a money order. The Post Office will issue you a passbook, which is your record of the account. Write down your account number and keep it in a safe place.

The entire process usually takes 15 to 30 minutes. You will leave with your passbook and account number. Your account is active immediately, and you can begin earning interest right away.

Understanding Interest Rates and How Your Money Grows

Post Office Savings Accounts earn interest at a rate set by the government. This rate changes every quarter (January, April, July, and October). The current rate is posted on the USPS website and at your local branch. Interest is calculated on your minimum monthly balance — meaning the lowest amount your account held during that month — and is credited to your account quarterly.

For example, if your minimum balance in January was $1,200, you earn interest on $1,200 for that quarter. If your balance drops to $800 in February, you earn interest on $800 for that quarter. The interest rate is lower than many commercial banks offer, but the account is backed by the government and carries no monthly fees.

Making Deposits and Withdrawals

You can deposit money into your Post Office Savings Account at any time by visiting your branch. Bring cash, a check, or a money order. The postal worker will record the deposit in your passbook and update your balance. You do not need an appointment for routine deposits.

Withdrawals work the same way — visit your branch, tell the postal worker how much you want to withdraw, and they will give you the cash and update your passbook. There is no limit on how many withdrawals you can make per month, though some branches may ask you to give notice if you are withdrawing a very large amount. Keep your passbook with you each time you visit so the branch can update it.

What Happens If You Lose Your Passbook or Forget Your Account Number

If you lose your passbook, visit your branch with your photo ID and Social Security number. The postal worker can look up your account using your ID and issue you a replacement passbook. There is usually no fee for this. If you remember your account number but not your passbook location, call the USPS customer service line at 1-800-275-8777 and they can help you locate your branch.

If you forget your account number, bring your ID and proof of address to your branch and they will look it up for you. Write the number down in a safe place once you have it again. Some people photograph their passbook's first page as a backup.

Closing Your Account or Transferring Your Money

To close your Post Office Savings Account, visit your branch with your passbook and photo ID. The postal worker will process the closure and give you the full balance in cash, by check, or by money order. Any interest earned up to the date of closure will be included. There is no penalty for closing the account early.

You cannot transfer money directly from a Post Office Savings Account to a bank account online. If you want to move your money to another bank, withdraw it from the Post Office and deposit it at your bank yourself, or ask the Post Office to issue a check payable to you that you can then deposit elsewhere.

Frequently Asked Questions

Can I open a Post Office Savings Account if I do not have a Social Security number?

No, a Social Security number is required. If you have an Individual Taxpayer Identification Number (ITIN) instead, contact your local Post Office to ask whether they can open an account using that number, as policies vary by location.

What if I want to add someone else to my account?

Post Office Savings Accounts are individual accounts and cannot have joint owners. If you want a family member to have access, you would need to open a separate account for them, or discuss other options with your postal worker.

How long does it take for interest to show up in my account?

Interest is credited quarterly — on the last day of March, June, September, and December. You will see the interest added to your balance in your passbook at your next visit to the branch after the interest date.

Can I set up automatic deposits to my Post Office Savings Account?

No, automatic deposits are not available. You must visit the branch in person to make deposits. This is one reason some people choose a Recurring Deposit Account instead, where you commit to depositing a set amount each month.

What happens to my account if I do not visit the branch for a long time?

Your account remains active and continues to earn interest. There is no inactivity fee or minimum activity requirement. However, you should keep your passbook updated by visiting the branch at least once a year so you have a current record of your balance.