The Ins and Outs of Opening a Personal Bank Account Online

businesswoman opening account online

As technology continues to shift and develop, we become more reliant on the Internet to assist us in managing our lives on-demand. In order to spare you a trip to the bank, many banking institutions now offer the opportunity to open an account online  — all from the comfort of your own bed. Before you get started, the following tips and tricks will help you answer the question: what do I need to know about opening a new bank account online?


 

Before you begin, ask yourself:

  • Am I a U.S. citizen? If not, does this bank accept online account opening requests from non-U.S. citizens?
  • What type of account do I want? Many institutions offer a variety of different products, so make sure to do your research before jumping into the opening process.
  • Am I ready to make the minimum deposit to open an account online?
Great bank to open an account online in Minnesota

What do you need?

In order to open an account online, you will need to provide:

  • Social security number, or another identification number for non-citizens
  • A valid driver’s license, or another government-issued ID
  • Contact information: phone number and email
  • A physical address
  • Bank account information for the account you will use to fund your new account

The Process:

  • Typically, you’ll begin by inputting your phone number and email
  • Next, you’ll need to verify your identity by inputting your identification information
  • After, select which type of account you'd like to open
  • Then, answer any questions the bank may ask you
  • If your request is accepted, you’ll be asked to fund your first deposit with money from another account
  • Depending on the institution, you may have to visit a branch to sign forms in order to complete the opening process. Otherwise, you’re finished!

Many institutions have slightly different processes for opening an account. For example, our online account opening process at Flagship Bank can be completed entirely online and is paperless.  Once you provide all of the necessary information to open an account, further correspondence will be sent to you either over text or email.

At some institutions, accounts cannot be opened entirely online and require you print and sign forms or visit a branch to do so. Additionally, if you’re opening a business account online, you are almost always required to visit a branch to speak with a banker in person.

Now you should know how to open an account online. If you ever have questions about an institution and their products, visit their website, give them a call, or visit a branch to learn more!

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