How Do You Open A Bank Account Online Without Going To The Bank

Opening a bank account online is an easy task, especially if you've required documents. It only takes a fe

Opening a bank account online is an easy task, especially if you've required documents. It only takes a few minutes to have your account ready. It also saves you a trip to the nearby bank branch.

In that regard, opening a bank account online is the only imperative option. Many online banks provide higher rates than the standard brick-and-mortar banks, charge low fees, and are insured by FDIC. Here are the best 4 steps to open a bank account online;

·         Select the kind of account you’re interested with

·         Have your personal information and documents in advance

·         Fill out the application with your actual data

·         Fund your account

Select the type of bank account you want

Before closing a deal with any vendor, consider these fundamental options:

Savings and checking accounts- Determine the primary purpose of this newest account. If you’re planning to pay regular expenses, consider opening a checking account.

Ensure it doesn't charge you more fees. But if you need your money to grow exponentially, consider a saving account and ensure it earns a handsome interest rate. Once you've weighed these options, decide on ways you'll use the new account.

 A joint or single account allows you to run and manage your account solely. On the other hand, a joint account lets you manage an account with another person, either an important person or a family member.

And if your bank branch provides several checking or savings accounts, compare them to understand more about the terms and conditions that suit. Ensure that account is FDIC insured to protect your blood and sweat in case the bank fails.

The most important way is to search whether your bank is federally insured on the FDIC’s BankFind tool or not. You can also search for the FEDIC insurance logo on the bank website.

All credit union accounts are protected by a separate agency commonly known as the National Credit Union Administration. 

Have your data and documents in advance

Here are important documents you need to have to launch a bank account online. In addition, anyone who would like to be your co-owner will need this information.

·         Government-issued ID or   valid driver’s license

·         Identification number, social security number

And if your account needs an initial deposit, you must have routing account numbers or debit card information. Find these details on a check or by accessing your existing account’s online dashboard.

Fill out the application form with your prospective data 

If you want to open a bank account online, you must share a bit about yourself. Use a reliable or secure home interment connection to fill out the application with your details like:

·         Name

·         Date of birth

·         Address

·         Bank account information, ID, and Social Security number.

·         Contact information

Often, you’ll send your data online, but there are some instances you’ll be required to send additional email information like a driver's license copy to verify your identity.

 Alternatively, you might be required to physically come into your branch to offer these documents, especially if you’ve limited work or have an issue with your checking account. 

Further, mailing and signing your signature card allows you to receive messages online. And in case you're below 18 years, you'll be required to have parent co-signer details. Then, visit your brank to finish your application.

Fund your online bank account     

Once you open an account, ensure you make the first deposit. Typically, this means depositing the amount to your new account. But if you have a bank online, consider funding it with a money order or checking.

If your bank comes with other local branches, visit one to deposit money.  Make sure you enter the correct details for the money transfer and choose the amount that meets your minimum balance or deposit. The amount may take just a few days to process before you start using your account.

Frequently asked questions     

Can I open a bank account online without presenting myself physically?

Can I open a Bank of America account or a Chase bank account online?

Which banks allow you to open an account online?