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What Do You Need to Open a Bank Account Online?

  • May 18, 2018
  • By Nick Vincent
  • 0 Comments
What Do You Need to Open a Bank Account Online?

When you go into a branch at a bank, what do you think you need to open a bank account? If you are wondering what you need to open ssa bank account online, you can pretty much assume you need exactly the same things you will need to open one in person. The only difference will be how each bank accepts proof or documentation of the information they request.

1. Personal Identifying Information

When opening a bank account online, you will need the important personal identification you would need when opening an account in person. You will need a valid ID issued by your state or local government. This is usually a state-issued driver’s license photo ID or a photo ID card issued at the DMV if you don’t have driving privileges. Some banks accept passports, student IDs, and other forms of photo identification, but it varies from bank to bank.

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2. Current Contact Information

You will also need proof of residence for any bank account, online or at a physical location. Banks want to know where they can reach you or send documents if needed. You will need to provide one or more phone numbers and an email address if you choose paperless bank statements. Most banks will require one or more alternate contact numbers, such as next of kin or a relative where you can be reached if they can’t contact you.

3. How Your Account Will Be Funded

You will also need a way to fund your account, both initially and over time. Remember, if you are opening a purely online bank account, you need to find a way to fund that account. Some will require you to sign specific documents for direct deposit of payroll checks or government checks, but you will need a way to fund your account and the bank may wish to verify that information.

4. Some Online Banks Check Your Credit History

Some banks will probably check your credit history. It is vital to show that you are not in Check Systems trying to avoid paying overdrawn checks or that you have a history of insufficient funds. Some banks online may require you to show proof of any past or current accounts as well. However, don’t think that your credit score or credit history is limited to online banking because it isn’t. Even brick and mortar banks will run your credit history, so always make sure it is in good standing.

Finally, you will need a way to get certified copies of your supporting documents to the online bank before they will actually approve your account. Some banks accept uploads in PDF format to their site and others require notarized statements in some cases. However, you will need to provide photo ID and signature cards, even for online banks, so make sure you have a way to supply these documents. In most cases, it is easier to open an online account simply because of convenience, but in any case, this is what you will need to open your account.

By Nick Vincent, May 18, 2018
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