For some, opening a bank account online is really simple. All you need is access to the internet, your personal details and identification, which we will outline further in the post.
For others, it may not be so easy. You may have bad credit, limited documentation or proof of identity. To apply for a bank account online, you need certain information to enable a bank to process your application.
What information do I need to open a bank account online?
- Your personal details – these include your full name, date of birth, gender, marital status and nationality.
- Your contact details – your current address, including how long you have lived there.
- Contact details – including your mobile phone number and email address along with marketing preferences which can be a tick box
- Proof of Identity – this is typically a UK Passport or Diving License.
How long does it take to open a bank account online?
It depends on who you are applying for an account with and what form of identification you have, also your credit history.
If you have a good credit score, have a permanent address and are on the electoral roll, plus a Passport or UK Driving license you can open an account within 10 minutes of applying. All banks offer an online application process which is fairly straightforward.
If you don’t have a good credit score, many high street banks require you to contact them to apply for a Basic Bank Account. There are now lots of online bank options, however, only if you have a Photo ID.
Suits Me, is an inclusive online personal account provider and can open up an account for those who have both poor credit and no Photo ID in minutes. Our application process caters for those who don’t tick all the boxes for online applications but need instant access to a UK Account.
When you open a bank account online what happens next?
You will receive an email with your account details and sort code. You will also receive your personal online banking login details including a temporary password.
Many people now also chose to use the mobile App associated with the bank they have an account with. This is a really easy and convenient way to manage your account, track spending, set up payments and more.
Unless you have opted for a virtual card, you will then receive your card in the post which you will need to activate when it arrives.
Once you have opened an account, you can then let your employer know or Universal Credit pay your wages or benefits payments into the account. This can be done straight away, you don’t need to wait for your card to arrive.
What else can you get with a bank account online?
There are many types of packaged accounts available, most come with a monthly fee associated with them. Unfortunately, if you opened a Basic Bank account these add on’s are usually not available.
Overdrafts can be available to those opening a current account online, these can be arranged or unarranged. It is important to check the interest charged for both as this leads to a cycle of debt which can be difficult to get out of.
Suits Me accounts offer all the banking-like features you would expect but do not offer credit. If you are looking for an account to manage your personal finances you can open in minutes. There is no risk of debt through an overdraft and account add on’s are included, Suits Me is the account of choice for thousands.