How to open a bank account online?

Opening a bank account online is convenient and fast. Regardless of the type of account you need checking, savings, or investing the key is to find a bank that is reliable and secure.

Getting started

It is important to understand the information needed to complete your application while finding the right account for your needs - whether you plan on using it for everyday spending, investing, or saving. 

Today most banks offer the possibility to open an account online. While the process may be simple and fast there are still some basic things to think about and documents needed. A bank needs to verify your identity.


This is a very important step that must be done accurately and securely. Based on the bank you may need to provide some of all the following documents.

• Proof of identity (ID, valid passport, work permit…)
• Personal details (your full name, date of birth, gender, marital status, and nationality)
• Address: your current address and the length of time you have been there
• Contact details: phone number, email address
• Income details, employment status, and similar details

What happens next

When your account is open you will normally get more information via email or by postal mail. It can contain your account details, copies of the terms and conditions, and detailed information about the bank and the services offered.
In addition you would also get a debit card with a personal identification number (PIN) sent separately. Some banks also offer credit cards so this also may be something you would receive.


You are all set

Once the account opening is completed and you have your bank details you can rest easy. Now you can take the steps to transfer your bank account details to your employer and set up any recurring payments from your e-banking. You can decide whether you want to open a savings account, a retirement account (3rd pillar pension), or explore other ways to save. Some banks also allow you to invest in financial markets globally which can be an integral part of your financial journey.


Related articles

What is a call option? | Chamath Naked Options Trade Example

What is a call option? | Chamath Naked Options Trade Example

CFDs vs Options | Which one to use and when?

CFDs vs Options | Which one to use and when?

5 Key Concepts for Success in Trading


How to Optimize Forex earnings