Instantly Open a Bank Account Online with No Deposit – keep reading
If you’re interested in opening a bank account online, then you might be wondering about how to get it all set up and started with minimal hassle. Luckily, technology has given us the ability to manage most of our finances on the internet. In fact, it’s possible to not only check your balance with the internet but also make payments and do all sorts of useful things from the comfort of your home. While there are still a few things that require you to physically visit a bank, there are a plethora of services available that make financial management a whole lot easier from home.
One of the handiest features of online banking is the ability to start an account online with absolutely no deposit required. This is a fantastic way to get yourself started on the path to internet banking, but it doesn’t mean that you’re restricted to just using your account over the internet. Setting up an account online can be done in less than an hour and all you need are some personal details.
How to Set up a Bank Account Online
Whether you’re a resident of the United States or planning to relocate, you’re going to need a bank account that you can access from a variety of different places. There are some tough laws that prevent people from entering the US and instantly starting up a bank account, so you’ll need a few documents to prove that you’re a resident of the United States.
If you’ve recently arrived in the country then your online application will most likely be refused. This is because of your short or non-existent credit history in the United States. In addition, it becomes incredibly difficult to actually prove your identity if you have no real history or records in the US, hence why an online application may quickly be declined. In addition, banks will find it hard to categorize you and it becomes difficult to pick the right online account for your situation. In short, if you’re new in the United States then you’ll need to open a bank account by walking into a branch instead.
However, if you’re a resident of the United States with some credit history and proof of your identity, then it’s possible to open up a bank account over the internet. Banking rules and regulations are different depending on the state, so the exact requirements to open a bank account online might change. It’s best to speak with a customer representative over the phone or via email before you apply so you can prepare all of your documents.
In most cases, you’re going to need some form of identity (a passport, identity card or driving license), your social security number, documents to prove your address and also immigration documents if you’ve recently moved into the United States. These documents should be easy to procure, but your proof of address might be tricky. Most banks will tell you what kind of documents are accepted. In most cases, a recent utility bill is best but a bank statement can also work if you’re registered with other banks. If you don’t have any utility bills in your name (for instance, if you’re a student) then you can send a copy of your enrolment form and give details on your educational status.
Nationality can also play a role in your ability to open a bank account online. Citizens from English-speaking countries such as the United Kingdom or Canada are more likely to be accepted.
Setting up a No Deposit Account
In the United States, it’s become common to charge maintenance fees in order to use certain bank accounts. The fees can vary depending on the bank and it’s certainly a frustrating added cost that doesn’t need to be there, especially if there are plenty of banks that won’t charge you extra for the privilege of banking with them. It’s not a scam and it’s not a hoax. While some banks believe that their services are worth charging extra for, others are willing to attract customers by offering accounts that are free to open and come with plenty of extras to make the deal even more attractive.
To give you an idea of the banks are that offering free accounts, here are some options to pick from.
Capital One 360
Capital One offers a completely fee-free online checking account that can be used anywhere and anytime. For online and mobile checking, there’s no fee to pay which means it’s completely free. There are also no opening fees involved and you can set it up in roughly five minutes on the internet provided you have the relevant documents. No matter what your balance is, you’ll be able to start earning interest the moment you open it. You can use Capital One 360 like most bank accounts. There are mobile deposit options, you can pay your bills over the internet and there are several overdraft options to help you cover emergency expenses.
Independent Bank offers free checking accounts with absolutely no service fees or additional requirements. If you’re eligible for a bank account in the United States, then you can receive a free debit card from Independent Bank that requires no maintenance fees and you won’t be charged for their basic services. You can open an account straight away on the internet without any hassle and there are plenty of additional benefits such as SnapCheck, an app that allows you to take photographs of your checks with the camera of your phone or tablet and have them deposited into your bank account.
Bank of Internet USA
True to its name, Bank of Internet USA offers a wide range of unique tools to help you manage your internet banking requirements. Their Essential Checking account has no monthly maintenance fees, no annual fees and no requirements assuming you’re able to prove your identity and are eligible for checking account in the USA. Accounts can be opened online with ease and you’ll also get exclusive cash back purchase rewards. The Essential Checking account also comes with access to their online services like online bill pay, MyDeposit, mobile banking and also Popmoney, which is a safe and secure way to transfer money. The cashback offers are what separate Bank of Internet USA with most other banks. Despite being free with no further charges, you get a lot of unique benefits that you just won’t see with other banks.
First National Bank
First National offers a free checking account that comes with some fantastic benefits at no extra charge. There’s no monthly service fee which is great, there is no minimum balance or deposit required to open the account and also no ATM fees. Statements are free to view both online or through the mail as paper and you’ll get access to free services like mobile banking and fraud monitoring. First National’s free checking account is a no-thrills and no-surprises option for people that just want to get on with their banking. It’s perfect if you’re just looking for a quick and simple way to start up an account online within minutes.
These are the most common options for people looking to start a bank account online with no deposit. In addition, these all come with the same no-fee bonuses that make the banking experience far more enjoyable and less of a hassle. You can set up these accounts in a matter of minutes, and they all offer a wide range of different benefits that could be fantastic additions to the already appealing lack of maintenance fees.
Open a Bank Account Online with No Deposit Conclusion
Getting a checking account without an opening deposit or minimum balance requirements can seem a little frustrating at first but it’s pretty simple. Once you’ve opened your account be sure to learn how to manage your money.