How to Open a Savings Account Online

Open a savings account online to help maximize your savings

woman checking her online banking app on her phone
(Image credit: Getty Images)

If you're looking to open a savings account online — because you don’t already have an account, or you’re dissatisfied with your current savings rates, you may be wondering what you'll need and what the steps are. The process is usually simple and straightforward. With just a few steps you’ll be able to start saving and, ideally, also earning interest on your hard-earned cash. Many online savings accounts are high-yield savings accounts — which have higher APYs than an account from a brick-and-mortar bank. So this way, you’ll get an even better rate of return on your cash.

Take these steps to open a savings account online. 

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Erin Bendig
Personal Finance Writer

Erin pairs personal experience with research and is passionate about sharing personal finance advice with others. Previously, she was a freelancer focusing on the credit card side of finance, but has branched out since then to cover other aspects of personal finance. Erin is well-versed in traditional media with reporting, interviewing and research, as well as using graphic design and video and audio storytelling to share with her readers.