Guide to Opening a Bank Account Online
By Skip the trip to the bank to sign paper forms. In today’s world – you can complete most banking tasks online, including opening an account. Read on to know how to go about this process.
Step 1: Decide when And Where to Open an Account
If you know which bank you prefer and are in a hurry to use your new account, the first thing you should do is call and ask about their bank account opening process. In some cases, if the bank does not let you open an account entirely online, you may be better off opening an account in person. If not, you can look at other institutions.
Once you’ve decided where you’d like to bank, visit the official website and look for the “Open an Account Now” option. Make sure you have the following at hand before you start the process:
Personal information: Firstly, you will need to share your personal information. This will allow the bank to verify your identity. Be prepared to give your:
– Social Security number
– Date of birth
– A government-issued ID (driver’s license, passport, or U.S. military ID) number with the dates of issue and expiration
– Contact information including your home address, phone number, and email address.
Funding information: An initial deposit of $25 to $100 is typically a requirement for opening an account. You may be able to use your credit or debit card to provide this amount.
Step 2: Signatures and E-Signatures
Once you provide that information, you can e-sign the legal agreements and start using the account almost immediately in some cases.
However, some banks will eventually require you to sign in person (having your official signature on file will facilitate verification in the event of a dispute) to complete the application.
In such cases, you would typically receive a “Welcome Kit” in your inbox with the required documents, like a formal signature card. This process may take longer, as you may need to wait for the bank to process your paperwork before you can use your account.