/apps/enel-x-digital-ecosystem/templates/page-content

Skip to main content

How to open a bank account online?

The procedure to open a bank account online is fast and easy: in most cases it takes just minutes, saving you a trip to a bank branch and unwieldy paperwork. The entire process takes place digitally, usually through a dedicated app. Once your account is up and running, you can transfer funds into it, pay your bills online, and have your account at your fingertips all the time. These are just some of the benefits that make a bank account online a safe and agile option for busy people.

What do you need to open a bank account online?

To create a bank account online, you will need to provide a few items of basic information:

  1. Your date of birth;
  2. Your tax ID or social security number; 
  3. A piece of identification such as a government-issued ID card or driver’s license;
  4. Billing information such as home address, phone number and email address, so the bank knows how to reach you.
Payment Solutions

Payment Solutions

Enabling smart living through financial management solutions

How long does it take to open a bank account online?

With most online banks, you’re done opening your account once you provide your personal information — in a matter of minutes. You can sign any legal agreements with an e-signature, and you can start using the account as soon as you transfer some funds into it.

How much does it cost?

Virtual banks don’t have to spend money on branch maintenance, so they tend to have low or no fees. For example, many online accounts don’t charge monthly service fees like brick-and-mortar banks do. Some online banks charge a fee for incoming or outgoing fund transfers.

How to open an online bank account for a minor?

Once your online bank account is set up, in many cases you can also activate accounts for your children: they will get their own digital account with an app and a personal card for their own spending — which will be entirely managed and monitored by you.

What are the advantages of opening a bank account online instead of going to a branch?

Remote banking has become widespread precisely because of the benefits of opening a bank account online. Most of the routine transactions that used to require a trip to the bank can now safely be done from your home computer or mobile phone app. Let’s take a look at some of the advantages of opening an online banking account:

  • Lower fees. The lack of a bricks-and-mortar branch network means internet-only banks can charge much lower fees for services like bill payment, money transfers, and withdrawals. 
  • Higher interest rates. Since online banks have lower costs, they pay higher interest on your deposits than traditional banks do.
  • Convenience.  An online bank account clearly saves you time, since you can skip visits to the bank as well as the lines.
  • Flexibility. Round-the-clock service wherever and whenever you want means you can even do your banking when you are on the road or in a meeting.

Related questions

How does mobile payments work

LEARN MORE

How to transfer money easily

LEARN MORE

How to make secure online payments

LEARN MORE