What you need to open a Wells Fargo savings account

You can open a Wells Fargo savings account in person at a branch, online, or by phone. The bank requires a government-issued photo ID, your Social Security number, and an initial deposit — usually $25, though this varies by account type and location. You'll also need a current mailing address.

If you're opening online or by phone, you'll need an email address and a way to verify your identity, which Wells Fargo does by asking questions about your financial history. If you're opening in a branch, bring your ID and Social Security card or number, and the staff member will walk you through the process on the spot.

Wells Fargo offers several savings account types — the basic savings account, money market savings account, and accounts with higher interest rates if you maintain a larger balance. The differences matter mainly if you plan to deposit a lot of money or make frequent transfers. For most people starting out, the basic savings account is the right choice.

Key Takeaways

  • You need a government photo ID, your Social Security number, and an initial deposit of at least $25 to open a Wells Fargo savings account.
  • Opening in person at a branch is fastest if you have one nearby, but you can also open online or by phone without visiting a location.
  • Online and phone applications require email verification and identity questions, while in-person applications are completed when ready with your ID.
  • Wells Fargo savings accounts come in different types, but the basic savings account works for most people who are new to banking.
  • After opening, you can deposit money by transferring from another bank, using a debit card at an ATM, or depositing a check through the mobile app.

Opening in person at a Wells Fargo branch

Walking into a branch with your ID and Social Security number is the most straightforward route. A staff member will ask you basic questions about yourself, show you the account options, and help you choose the right one. The whole process usually takes 15 to 30 minutes, and your account opens that day.

Bring your government-issued photo ID — a driver's license, passport, or state ID card all work. You'll also need your Social Security number. If you have a second form of ID, bring that too, though it's not required. The staff member will verify your information against Wells Fargo's systems to check for fraud and to comply with federal banking rules.

You'll make your initial deposit at the same time. You can deposit cash, a check, or transfer money from another bank account if you have one. If you don't have money to deposit right then, ask whether the branch can hold the account open while you deposit later — policies vary by location.

Opening online through Wells Fargo's website

Online opening takes about 10 minutes and you can do it from home. Go to wellsfargo.com, find the savings account section, and click to open an account. You'll enter your name, address, Social Security number, date of birth, and email address. Wells Fargo will then ask you security questions based on your credit history to verify you are who you say you are.

These questions sound like "Which of these addresses have you lived at?" or "Which of these is your mother's maiden name?" Answer based on what you actually know about yourself. If you answer incorrectly, Wells Fargo may ask you to verify your identity another way — usually by uploading a photo of your ID or by calling a verification number.

After verification, you'll choose your account type and set up how to fund it. You can link a bank account you already have and transfer money, or Wells Fargo can mail you a deposit envelope to send a check. Your account opens within one business day, though you may not see funds for a few days if you're transferring from another bank.

Opening by phone with Wells Fargo customer service

You can call Wells Fargo at 1-800-869-3557 to open a savings account over the phone. A representative will walk you through the same questions as the online process — your name, address, Social Security number, and date of birth. They'll verify your identity by asking security questions or requesting a photo ID.

Phone opening is useful if you prefer talking to a person or if you have questions as you go. The representative can explain the different account types and help you pick the right one. The process takes about 20 to 30 minutes, and your account opens the same day.

After opening, you'll need to fund the account. The representative can explain your options — transferring from another bank, mailing a check, or depositing cash at a branch. Ask them to confirm the minimum deposit amount and whether there are any fees for your account type.

What happens after your account opens

Your Wells Fargo savings account number appears on your screen or in a confirmation email within minutes of opening. You can start using the account right away, even if your initial deposit hasn't arrived yet. Wells Fargo will mail you a debit card within 7 to 10 business days, though you can use your account online or through the mobile app before the card arrives.

Once you have your account number, you can set up direct deposit if your employer or a government agency sends you money. You can also transfer money from another bank account you own, deposit checks through the mobile app by taking a photo, or visit a branch to deposit cash. Your savings account earns interest — the rate changes based on market conditions, so check Wells Fargo's website for the current rate.

Keep your account active by making at least one deposit or withdrawal every 12 months. If you don't use the account for a very long time, Wells Fargo may close it and send any remaining balance to your state's unclaimed property program. This is rare, but it's worth remembering if you open an account and then forget about it.

Documents and information to have ready

Before you start, gather these items so the process moves quickly:

  • Government-issued photo ID (driver's license, passport, or state ID)
  • Your Social Security number
  • Your current mailing address
  • Your email address (for online or phone opening)
  • Money for your initial deposit, or the routing and account number of another bank account if you're transferring

If you don't have a Social Security number, Wells Fargo can open an account with an Individual Taxpayer Identification Number (ITIN) instead. Call the phone number above or visit a branch to ask about this option.

Fees and account maintenance

Wells Fargo's basic savings account has no monthly maintenance fee. However, some account types charge a fee if your balance drops below a certain amount — usually $300 to $500. Check the account details before you open to see whether your account type has a minimum balance requirement.

You can withdraw money from your savings account without penalty, but federal rules limit you to six withdrawals per month (this rule has been relaxed in recent years, so check current limits with Wells Fargo). Transfers to another bank account count as withdrawals. If you need to move money frequently, a checking account might be more practical.

Interest rates on savings accounts are low — typically less than 1% per year — but the money is safe and you earn something. If you're saving for a specific goal and won't need the money for months or years, Wells Fargo also offers money market accounts and certificates of deposit (CDs) with higher rates, though those have different rules about when you can withdraw.

Frequently Asked Questions

Do I need a Social Security number to open a Wells Fargo savings account?

Wells Fargo requires either a Social Security number or an Individual Taxpayer Identification Number (ITIN). If you don't have a Social Security number, call 1-800-869-3557 or visit a branch to ask about opening with an ITIN. You'll need to provide additional documentation to verify your identity.

Can I open a Wells Fargo savings account if I have bad credit or a banking history issue?

Wells Fargo does not check your credit score to open a savings account. However, they do check ChexSystems, a banking history database. If you've had fraud issues or unpaid overdrafts at other banks, Wells Fargo may decline to open an account. If this happens, ask what the issue is — sometimes it can be resolved by paying an old debt or waiting a set amount of time.

How long does it take to access my money after I open an account?

Your account opens when ready, but the timing of your deposit depends on how you fund it. Cash or checks deposited in person are available the same day. Transfers from another bank take one to three business days. Checks mailed to Wells Fargo take longer — ask the staff member for an estimate when you open.

Can I open a Wells Fargo savings account without visiting a branch?

Yes. You can open online at wellsfargo.com or by calling 1-800-869-3557. Both methods take about 10 to 30 minutes and require the same information as opening in person. You won't need to visit a branch unless you want to deposit cash for your initial deposit.

What's the difference between a Wells Fargo savings account and a checking account?

A savings account is meant for money you're keeping, while a checking account is for money you spend regularly. Savings accounts earn interest and limit you to six withdrawals per month. Checking accounts usually have no withdrawal limit and come with a debit card and checks. Most people use both — checking for daily spending and savings for money they want to keep.