How to open a savings account at Chase

You can open a Chase savings account online, on the phone, or in person at a branch. Online is fastest — the whole process takes about 10 minutes and you can fund the account immediately. You'll need a valid government ID, your Social Security number, and an initial deposit (usually $25 minimum, though this varies by account type). Chase will run a background check through ChexSystems, which looks at your banking history, not your credit score.

If you open online, you can start using the account the same day. In-person and phone applications take longer because Chase needs to verify your identity through additional steps. Either way, your debit card arrives in 7 to 10 business days.

Key Takeaways

  • You need a valid ID, Social Security number, and an opening deposit to start a Chase savings account, whether you open it online, by phone, or in a branch.
  • Online applications are processed fastest and let you fund the account immediately, while branch and phone applications require additional identity verification.
  • Chase uses ChexSystems to check your banking history, not your credit, so past credit problems won't block you from opening an account.
  • Your debit card takes 7 to 10 business days to arrive, but you can access your account and transfer money before it shows up.

What documents and information you'll need

Bring or have ready a government-issued photo ID — a driver's license, passport, or state ID card. Chase will not accept expired IDs. You'll also need your Social Security number, which Chase uses to verify your identity and report interest earned on the account to the IRS.

If you're opening the account online, you may need to upload a photo of your ID. For in-person or phone applications, a representative will look at the ID directly. Have your current address ready, and if you've moved in the last 30 days, bring proof of your new address — a utility bill, lease, or recent bank statement works.

If you want to fund the account with a transfer from another bank, have that account's routing and account numbers ready. If you're depositing cash or a check in person, bring those with you.

Opening an account online versus in person

Opening online is the fastest route. You go to Chase's website, enter your personal information, upload a photo of your ID, and choose your account type. The system verifies your identity in real time, and if approved, you can link an external bank account and transfer money the same day. Your account is active immediately.

Opening in a branch takes longer because the representative needs to see your ID in person and may ask additional questions about the source of your funds or your intended use of the account. This can add 15 to 30 minutes to the process. However, a branch representative can answer questions about account features and help you choose the right account type if you're unsure.

Phone applications fall between the two. A representative will walk you through the process and verify your identity over the phone, which takes about 20 to 30 minutes. You'll still need to provide the same documents, usually by uploading them or mailing them in after the call.

Understanding ChexSystems and background checks

Chase runs a check through ChexSystems, a banking history database that tracks overdrafts, bounced checks, closed accounts, and fraud. This is not a credit check — your credit score doesn't matter. ChexSystems looks only at your relationship with banks.

If you've had problems like repeated overdrafts or an account closed for fraud, ChexSystems will flag it. Chase may deny your application or require you to pay off any outstanding balances before opening an account. If you're denied, you have the right to request a copy of your ChexSystems report and dispute any errors.

You can check your own ChexSystems report for free at www.chexsystems.com before you apply. If there are errors, you can dispute them directly with ChexSystems, which may improve your chances of approval.

Minimum deposit and account types

Chase offers several savings account types, and the minimum opening deposit varies. The Chase Savings Account typically requires a $25 minimum. The Chase Premier Savings Account requires $10,000 to open and offers higher interest rates. The Chase High Yield Savings Account also has different minimums depending on your region.

You can start with the basic savings account and upgrade later if you accumulate more money. There's no penalty for switching account types. If you don't have $25 right now, you can ask a Chase representative whether you can open the account with a smaller deposit and add funds within a few days — some branches will work with you, though this is not may provide.

What happens after you open your account

Once approved, your account is active immediately if you opened online. You can log into your Chase account online or through the mobile app, set up bill pay, transfer money between accounts, and see your balance. You can also deposit checks using mobile check deposit through the app.

Your debit card arrives in 7 to 10 business days. Until it arrives, you can withdraw cash at any Chase ATM using your account number and PIN, or you can transfer money to another account. Some Chase branches will issue a temporary card on the spot if you ask.

You'll receive a welcome packet in the mail with your account number, routing number, and information about fees and interest rates. Read this carefully — it explains what you're charged for and what you earn on your balance.

Fees and things that cost money

Chase savings accounts have no monthly maintenance fee. However, you may be charged for specific actions: overdraft fees if you withdraw more than you have, out-of-network ATM fees if you use an ATM that isn't Chase, and wire transfer fees if you send money outside the bank.

Some accounts have a limit on how many withdrawals you can make per month without a fee. Check your account agreement to see what applies to your specific account type. Interest rates on savings accounts are low — currently a fraction of a percent — so don't expect your balance to grow from interest alone.

If you maintain a minimum balance (usually $300 to $500 depending on the account), Chase may waive certain fees. Ask about this when you open the account.

Frequently Asked Questions

Can I open a Chase savings account if I'm not a U.S. citizen?

Yes, but you need an Individual Taxpayer Identification Number (ITIN) instead of a Social Security number. Bring your ITIN documentation and a valid passport or government ID. Some branches may ask additional questions about your immigration status, but this is standard procedure.

What if I don't have a government ID?

You'll need a government-issued photo ID to open any bank account. If you don't have one, get a state ID card from your local DMV first. This is separate from a driver's license and is available to anyone who can prove their identity and residency.

Can I open an account for someone else, like a child or elderly parent?

You can open a joint account with another adult if you both go to the branch together with your IDs. For a minor, you'll need to open a custodial account, which requires the parent or guardian to be present. For an elderly parent, they must be present and able to consent, or you'll need power of attorney documentation.

How long does it take to get my debit card?

Standard delivery is 7 to 10 business days. If you need it faster, ask at the branch — some locations can issue a temporary card immediately or expedite shipping for a fee. You can also use your account number and PIN at Chase ATMs before your card arrives.

What's the difference between a savings account and a checking account at Chase?

A savings account earns interest on your balance and is meant for money you're not spending regularly. A checking account is for daily transactions and usually doesn't earn interest. Savings accounts have limits on how many withdrawals you can make per month, while checking accounts don't. Most people use both.