Personal Insights
How to Apply for a Bank Account Online

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Here’s everything you need to know to get started with an online bank account.

It has never been easier to apply for a bank account online. More and more people are opting to apply online for a bank account, and it’s easy to see why: Online bank accounts are secure, easy to use and convenient, and they give customers more control over their finances. Whether you’re tired of dealing with paper checks or want to keep a closer watch over your finances for budgeting purposes, chances are you can find what you’re looking for if you apply for a banking account online.

Decide What Account Suits Your Needs

To get started, ask yourself what you want out of an online bank account. Will you be using it primarily to pay your monthly bills? Is it for daily expenses, like trips to the coffee shop? Do you want to send your friends money? If so, an online checking account can meet your needs.

You might have other needs as well. Are you looking for a place to set aside money to save for a vacation, a wedding, a down payment on a house—or do you want to work toward an emergency fund? If any of these are on your list, then you might want to consider an online savings account.

As an added bonus, these days many online bank accounts—checking and savings alike—offer competitive interest rates. You can even open online money market accounts as well, to boost the interest you’re earning.

If you are unsure what account fits your needs, we can help you decide: Click here.

Gather Your Info

Once you’ve identified the type of online bank account you want to apply for, you’ll want to do some homework. You should have an estimate of the balance you tend to keep in your checking account, as well as the total amount of combined funds in your savings and checking—because many online banks will waive monthly fees if you keep a certain combined balance.

When you’re ready to apply, you’ll need to have some personal information handy: your email address, your Social Security number and a form of personal identification (a U.S. driver’s license, a passport or a state- or military-issued ID).

After you’ve gathered this personal information, you’re ready to apply for an online bank account. It’s as easy as entering your information into the bank’s online form. After that, you’ll want to make an initial deposit by transferring funds from your existing bank account.

After You Open Your Account

It may take a few days for the funds to reach your new online account, and your debit card will be sent out in the mail. After that, you’re ready to go! You can start to set up your bills for auto-pay from your new account and begin to use the account for all your spending and savings needs.

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