The Internet has in recent time offered people the opportunity to do things at a convenient time and place, which include the opening of a bank account online.These write up show how to open a bank account online or digitally with any gadget of your choice. It means that you don't need to visit the bank before you open an account.
There are different types of banks depending on their mode of operation and services rendered to the public. The following is the list of types of banks:
a. Central Banks
b. Retail Banks
c. Commercial Banks
d. Shadow Banks
e. Investment Banks
f. Cooperative Banks
g. Credit Unions etc.
Requirements To Open a Bank Account Online
You're expected to provide the following information to open a bank account online:
- Personal Information
- Contact Information
Personal Information
To open a bank account online, your personal information will be required which will be filled in a form provided online. Such Personal information will include:
a. Your Name
b. Date of Birth
c. Gender
d. Identity Card Number
e. Marital Status
The above helps the bank know the individual they are doing transactions online.
Contact information
Though the procedure to open a bank account is done online, there is no physical contact, the bank still requires information such as:
a. Contact Address
b. Email Address
c. Phone Number
Types of Bank Account
i. Savings Account.
ii. Current Account.
iii. Fixed Deposit Account.
iv. Joint Account.
v. Corporate Account.
vi. Domiciliary Account.
vii. Non-resident Nigerian Account
Steps to Open a Bank Account Online
1: Determine the type of account you want to open.
There are different types of account to open with the bank as stated above. Consider the requirements for opening such account, check if the account can be opened online, minimum deposit requirement, minimum account balances, bank charges required and the type of ATM Card required.
2: Choose the type of bank account
Here you have to choose which of the account you are to open. Savings account and individual current account means that you are the sole controller of the account. Corporate account, joint account etc are to be managed by a group of selected individuals that has almost equal access to the account.
3: Apply for your account online
Visit the official website of the particular bank you want to open an account with. The account opening form will pop up which you are to fill in the required personal and contact information correctly. Your information should be handy as you open the website to avoid been logged or time out if not attended to for some time.
Having filled the bank opening application form online, an email will be sent to you from the bank giving you further instructions on further steps to take.
4: Identity Verification
You might be required to upload a scanned copy of any means of government-approved mode of identification before the bank will approve the account to be functional. This step might be skipped if you are already an existing customer with the bank.
5: Deposit
In recent time, you can open a bank account without making any deposit unlike years ago when you will be told the specific amount of money that needs to be deposited before your account will be opened.
6: Bank Verification No
You will be required to fill in your bank verification number because it will enable the bank to link your existing account with the new one. If you don't have it, the bank will direct you on further steps to take.
7: ATM / Debit card issue
While filling the application form, there is a column you fill if you need an ATM card for your account. This enables the bank to provide the card for you with the PIN sent to you privately. You are required to activate the card before it can be used.
8: Account is ready for use
After the whole processes stated above has been completed, your account is ready for use.
Conclusion
Opening a Bank account online saves you from wasting time in queues and bureaucracy in the banking hall. Though some banks may require you to visit the bank to regularize some documents which might not take time.
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