Banking has been made easy with the onset of online banking services. Currently, numerous online banks offer personal, business, and corporate banking services. Citibank, HSBC, and Bank of America are the most popular online banks.
Steps to Opening An Online Bank Account
According to the experts at SoFi, “An online bank account conveniently allows you to manage your accounts from your computer or mobile device. “ You can easily open an online bank account by providing your details in the application form on the official website of any online bank. Once you have opened your account successfully, you can proceed to make payments and transfer money from one account to another with ease.
You can also set up your online bank in less than 15 minutes. Yes, it is possible. The process is simple and does not require lengthy documentation or paperwork. You need to follow these simple steps:
1. Filling in the Online Application Form
According to the experts at SoFi, online bank account opening is a straightforward process. The first step you need to take is to fill in the online application form that appears on the official website of any online bank. You will be required to provide your personal details, contact information, and financial information. It is important that you provide all the required details honestly.
2. Verifying Your Identity
You will be required to verify your identity with some documents proving your identity and address. You may need to submit a copy of your driving license or passport and other documents such as utility bills, bank statements, and credit card statements. Once you have submitted all these documents successfully, you will receive an email from the bank confirming your successful application. At this juncture, they will inform you about the next steps they need to take to open an account for you.
3. Opening Your Account Online
Once you successfully submit all the required documents, it takes just a few minutes for your account to get opened online. You will receive an email notification about this once it is done successfully by the online bank for which you have applied for an account opening process.
You can now log into your newly opened online bank account using the internet banking services offered. Enjoy various benefits of having access to an online banking service such as instant money transfer from one account to another without going through any hassle of visiting a local branch office of any bank. In case you don’t remember your login details, you can retrieve them using the password retrieval option available on their website.
4. Opening Your Account at a Local Branch
Some online banks offer an online account opening facility and have local branches where you can visit to open an account. In such cases, you can choose to go to the nearest branch office of the bank and open an account in person along with all the required documents.
Once you complete all these tasks, the bank official will open an account for you and hand over a debit card or passbook containing your account details. If there is any other service or product that needs to be offered by the bank at this point, they will let you know about it and provide you with the necessary information about these services.