Why and how to open a Bank Account online?

Bank Account online

Owning a Bank Account has become the norm these days. It helps you store your funds safely and gives you instant access to the same whenever need be. It lets you make swift transactions at anytime from anywhere. Besides, opening one is easy.

Thanks to the availability of online banking portals, you can open a Bank Account online within no time. Here are some reasons why you should consider opting for this method:

  1. Convenience

Visiting the bank physically is a tedious job. You needto wait in long queues, spend time on the commute, and run around to fulfil formalities. A better and more convenient way to obtain a Bank Account is by applying for one online. Through a few simple clicks, you can fill out your details, upload relevant documents, and receive your online Bank Account information.

  1. 24×7 customer support

When you open a Bank Account online, you get access to 24×7 banking support. Banking portals offer round-the-clock customer support if you want to open an account or have a simple query.

  1. Safety

Banking portals observe advanced security measures to ensure your confidentiality. Hence, you need not worry about your information getting into the wrong hands.

Steps to open a Bank Account online

  1. Select abanking partner

The first step to opening a Bank Account online is to select a partner. Start by looking for the top results, as these are usually the most reliable ones. Then, go through their facilities and services. If need be, reach out to their customer care to understand how efficient they are.

  1. Visit the website

Now that you have selected your banking partner, it is time to visit their website. There, you should see the option of account opening.Click on it to proceed to the next step. An alternative to this step is to download the Banking app. You can start the opening process on your smartphone by registering through a one-time password.

  1. Choose the account type

A Bank Account comes in various types. Some popular ones include Savings Accounts, Fixed Deposit Accounts, Senior Citizen Accounts, etc. Ensure you understand the features of each before making a pick. For example, opt for a Savings Account if you wish to park your disposable income in a safe place. Ideally, the banking portal should give you a comprehensive list of features and benefits of the account types. You can also refer to it for guidance.

  1. Fill out the application form

The application form entails vital details like your full name, birth date, contact information, address, KYC, etc. It is a means through which the bank verifies your identity and credibility. Take your time filling out this form. Review it once before hitting the submit button to be sure.

  1. Receive account details

After successful verification, you will receive your account details via mail.