Opening a bank account online

Opening an online bank account is a very simple procedure that can be done directly from home: all you need is a home internet connection or access to the internet even from a mobile phone, in hotspot mode. Given that there are many offers available on the internet, some of which belong to 100% digital banks, it may not be easy to choose the best online current account for your management needs.

Why open an online bank account?

Before getting into the heart of the matter, it's worth answering the question: why open an online account? There are essentially two reasons: first, by opening an online account, you can save a lot of money on management costs. In fact, in many cases, online accounts have close to zero expenses! Another reason that pushes many people to prefer online accounts concerns the many advantages offered by home banking, mainly the ability to optimize your time by avoiding having to physically go to the bank to carry out routine transactions.

Online or traditional bank account: which one to choose?

Let's start by saying that neither option is better than the other; you just have to choose the type of account that best suits your needs. An online account has the enormous advantage of being able to carry out all operations anytime, anywhere, as every step is done through the app. Home banking apps are very easy to use and generally very intuitive, allowing you to always have control over your funds. However, many online banks do not have a physical office. This factor has led many people to prefer traditional accounts, believing that having a point of reference close to home is an advantage. Both types of accounts are secure and allow you to store your savings without fear. In addition, both types can carry out important operations, from crediting salaries to invoicing invoices. However, online solutions can save you money because, as we mentioned, there is no physical location, reducing management costs.

What is a bank account?

A bank account is a contract you enter into with your bank, by which you decide to entrust your money to the designated bank. Opening a current account allows you to benefit from several services, such as bill clearing, check writing, and ATM access. Thus, current account holders can make their usual purchases with cash, simply through their account.

What you need to open a bank account

To open an online bank account , you will need to provide personal information as the bank will need to verify your identity. Here is what you will be asked when opening the account:
Personal Information: The bank needs personal information from you, including your Social Security number, date of birth, and a valid government-issued ID (driver's license, passport, military ID, etc.).
Contact information : You will also need to provide the bank with a home address (even if you open an account online), a phone number , and an email address .
Funding information: Banks may require an initial deposit to open the account. You may be able to use an existing credit or debit card or provide a link to a second bank account.