Is it possible to open a bank account online?

Is it possible to open a bank account online?Modern life is hectic and there never seems enough time in the day to go down to your local branch and open up a bank account – isn’t there a better way to get things done from the comfort of your own home?

No one has time to the high street any more and stand in queue until someone gets around to helping you. If you’re not working one or more jobs just to make the rent (or looking for a job night and day), you’re probably in school full-time or part-time whilst working on the side – so unless you can take care of your financial matters and catch up on sleep at the same time, you more than likely can’t fit it in to your busy everyday schedule.

Lucky for you that the majority of banks and building societies will allow you to open a bank account online. Whether it’s a personal current account or a business bank account doesn’t matter much, as the UK’s financial service providers know how busy your day is, and have made it easy to open your new account right over the internet – and more importantly, all without having to leave your flat.

Choose your favourite

It used to be that only a handful of financial service providers offered the ability to do anything besides open a new bank account in-branch. Sure, there was the occasional outlier that allowed you to conduct your banking by post, or even by phone, but for the most part online banking was pretty rare.

However, that has all changed as technology has caught up with demand, and  now nearly every major bank and building society offers you the ability to open an account over the internet. This means you have a wide selection of offers to choose from, so you’re going to have to find the right one for you – this might take a while, as online banking offers aren’t exactly thin on the ground, but if you keep looking long enough and hard enough, you’ll find one that matches your needs almost perfectly.

Sit back and relax

Once you’ve finally chosen the right bank account for you, now comes the fun part: you get to sit down in your favourite, most comfortable computer chair and go through the application process. Now, don’t start sweating: for most banking providers, the process is quite painless, as long as you’re prepared to give over your personal details to your prospective new bank or building society; you didn’t think they just hand out bank accounts all higgledy-piggledy, did you?

Your provider simply needs to know that you are exactly who you say you are. This means you’re going to have to provide personal details to prove your identity – it’s an anti-fraud measure – and those details include a valid email address, your estimated monthly income and outgoings, the details of your employment or college, and if you have any existing bank accounts, either with the bank you’re applying to or one of their rivals.

Once this process is done and you click that last button, that’s it, you’re done! Now you just have to wait back and keep an eye on your email inbox to see when your bank gets back to you – it could take as short as a few minutes or a day or so.

Finally, if you’re encountering any problems, don’t be afraid to ring up  your prospective new bank by using the dedicated customer service telephone number listed on the website. Computer glitches happen, after all, but if you need a human being to unravel the red tape for you, they’re just on the other end of a telephone.