Opening a savings account could not be easier.
All you need is your Social Security number, some form of ID (a driver's license or a passport will do fine) and, if required, the minimum amount required by your bank for an initial deposit to start a savings account.
As with any other financial decision, be sure you're making an informed choice when you open a savings account.
Ally's Online Savings and Money Market accounts offer some of the best features available. Not only do they offer get great interest rates that compound on a daily basis, but there is no minimum deposit to open and all are FDIC insured. Read more about them and see which one works best for you.