What you need to open a Chase savings account

You can open a Chase savings account online, by phone, or in person at a Chase branch. The process takes about 10 minutes online. 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 or more, though some accounts have no minimum.

Chase offers several savings account types: Chase Savings, Chase Premier Savings, and Chase Sapphire Savings. Each has different interest rates, monthly fees, and minimum balance requirements. The account you choose depends on how much you plan to keep in savings and whether you want to link it to a checking account.

Key Takeaways

  • You can open a Chase savings account online at chase.com, by phone at 1-800-935-9935, or at any Chase branch with an ID and Social Security number.
  • Chase Savings has no monthly fee and no minimum balance requirement, making it the simplest option for most people.
  • Chase Premier Savings and Chase Sapphire Savings offer higher interest rates but require larger minimum balances ($10,000 to $25,000 depending on the account).
  • You will need to fund your account with an initial deposit, which can come from a bank transfer, wire transfer, or check deposit.

Opening your account online

Go to chase.com and click "Open an Account" or "Savings" in the top menu. Select the savings account type you want. You will be asked for your name, address, date of birth, Social Security number, and email address. Have your ID ready — Chase will ask you to verify information from it during the process.

Next, you will choose how to fund the account. You can transfer money from another bank account (which takes one to two business days), use a wire transfer (same day but may have a fee), or deposit a check through mobile deposit or at a branch. Once your initial deposit clears, your account is active and you can start using it.

Opening your account at a Chase branch

Visit any Chase branch with your ID, Social Security number, and initial deposit. A banker will walk you through the account setup, answer questions about the different savings account options, and help you decide which one fits your situation. This route is useful if you want to ask about linking your savings to an existing Chase checking account or if you prefer to handle everything in person.

Bring a blank check from another bank if you want to fund the account by check deposit, or bring a debit card if you want to transfer money from another account. The banker can process your application on the spot, and your account will be ready to use immediately.

Opening your account by phone

Call Chase at 1-800-935-9935 to open a savings account over the phone. A representative will ask the same questions as the online process: your name, address, date of birth, and Social Security number. They will verify your identity by asking details from your ID.

You will need to arrange funding separately — the phone representative cannot process a transfer or deposit during the call. You can set up a transfer from another bank account, mail a check, or visit a branch to deposit funds. Your account will be active once your initial deposit is received and processed.

Choosing between Chase savings account types

Chase Savings is the most straightforward option: no monthly fee, no minimum balance, and a modest interest rate. It works well if you are building an emergency fund or saving for a specific goal and do not have a large amount to deposit upfront.

Chase Premier Savings requires a $10,000 minimum balance and offers a higher interest rate. Chase Sapphire Savings requires a $25,000 minimum balance and offers an even higher rate. Both waive the monthly fee if you maintain the minimum. If you have the money to meet the minimum and want to earn more interest, one of these accounts may be worth it — but compare the interest rates to other banks first, as rates change frequently and Chase's rates are not always the highest available.

What happens after you open your account

Once your account is open and funded, you can deposit money through mobile deposit (photograph a check with the Chase app), at an ATM, at a branch, or by transfer from another bank. You can withdraw money at any Chase ATM, at a branch, or by transferring to another account. Savings accounts have a federal limit of six transfers or withdrawals per month (not counting ATM withdrawals or in-person withdrawals at a branch).

Your interest will be calculated daily and deposited monthly. The amount you earn depends on the account type and the current interest rate, which Chase can change at any time. You can check your balance and interest earned anytime through the Chase mobile app or online at chase.com.

Linking your savings to a checking account

If you already have a Chase checking account, you can link your new savings account to it during setup or afterward through the Chase app or website. Linking lets you transfer money between accounts instantly without fees. Many people link savings and checking so they can move money easily if they need it for an unexpected expense.

Linking does not affect your savings account's interest rate or fees. It is purely a convenience feature. If you do not have a Chase checking account yet and want one, you can open both accounts in the same session online or at a branch.

Frequently Asked Questions

Can I open a Chase savings account if I do not have a Social Security number?

No. Chase requires a Social Security number or Individual Taxpayer Identification Number (ITIN) to open any account. If you have an ITIN, you can use that instead. Contact Chase directly at 1-800-935-9935 to confirm whether your ITIN will work.

How long does it take for my initial deposit to show up?

If you transfer from another bank account, it usually takes one to two business days. If you deposit a check through mobile deposit or at a branch, it typically takes one to two business days to clear. Wire transfers usually post the same day but may have a fee. Your account is active immediately, but you cannot withdraw the deposit until it clears.

What is the interest rate on a Chase savings account?

Interest rates vary by account type and change frequently. Chase Savings typically offers a lower rate than Chase Premier or Sapphire Savings. Check chase.com or call 1-800-935-9935 for current rates. Compare them to other banks before deciding — rates at online banks are often higher.

Can I have more than one Chase savings account?

Yes. You can open multiple savings accounts if you want to separate money for different goals. Each account earns interest independently. There is no limit to how many you can have, though Chase may ask why you want multiple accounts during setup.

What happens if my balance falls below the minimum for Premier or Sapphire Savings?

If your balance drops below the minimum, you will be charged a monthly maintenance fee (typically $25). You can avoid the fee by bringing your balance back above the minimum or by downgrading to Chase Savings, which has no minimum.