how to open a savings account
to set up a savings account visit one of the bank or credit union s branches or establish the account online for those institutions that offer it you ll need to provide your name address and telephone number as well as photo identification also because the account earns taxable interest you ll need to provide your social security number ssn some institutions will require you to make an initial minimum deposit at the time you open the account others will allow you to open the account first and fund it later you can make your initial deposit in a savings account with a transfer from an account at that institution an external transfer a mailed in or mobile deposit check or a deposit in person at a branch 