Can I open a bank account online?

For decades, setting up a bank account meant traveling to your local financial institution and sitting down with a banking representative, but the digital age has ushered in new ways to handle your finances. If you're accustomed to managing your money in person, you may wonder: Can I open a bank account online?

The answer is a definitive yes. Most brick-and-mortar banks now allow you to open an account electronically. And some financial institutions are exclusively online without a physical presence. No longer limited to the banks and credit unions near your home, you can enjoy banking from anywhere.

But what do you need for the application process? And how do you open your new account?

What do you need to open an account online?

Ultimately, the bank determines its application process. However, you'll need to provide some or all of the following materials as part of your application:

• Identifying information. You'll input your legal name, date of birth and a government identification number, either a Social Security number or a taxpayer identification number.
• Photo identification. Most people provide a current driver's license, but you can also use a state ID card, passport or military ID.
• Contact information. Your bank may ask you to enter your email address, physical address and phone number. Some banks require proof of address as well.
• Co-applicants' identifying information. If you're opening an account for your child or setting up a joint account, you'll need to provide personal information for that person.
• An initial deposit. Your bank may require a minimum deposit to open your account. Depending on the bank, you'll send a check or money order or initiate a transfer from your current financial institution.
• Current bank account information. If you're transferring funds to your new account, you'll need to provide your bank account number and the routing number for your existing account.
• Signature form. The bank may need a copy of your signature for its records. The application will include a form to sign and return.
• Additional documentation for nonresidents. If you're opening an account as a non-permanent resident or visa holder, you may be asked to offer proof of US residency and additional identification.

How to open a bank account online

By following a few steps, you'll be set up with online banking access.

1. Choose your account type

Compare savings accounts, checking accounts and money market accounts. Determine whether you'll be the sole account holder or open a joint account.

2. Do your research

Explore the features of several reputable banks. Some banks offer multiple options for savings and checking accounts.

Look at each bank's annual percentage yield (APY), account fees, balance requirements and benefits. Perks may include no-fee ATM transactions, overdraft fee protection, digital wallet access, a mobile banking app*, excellent customer support and more.

3. Gather your application materials

Head to your chosen bank's official website and select the option for opening an account. Your bank will list the specific documentation you'll need to provide. If you've already gathered the materials listed earlier, you're all set.

4. Complete your application

Fill out the online form fields on your bank's website to open a new account. Upload necessary digital documentation and postmark any physical paperwork.

5. Deposit funds into your account

Many banks require you to maintain a minimum account balance and deposit funds as a new account holder. Often, you can initiate an electronic transfer while setting up the account.

In some cases, you can open an account without moving money. However, the bank may require you to fund your account within a predetermined time.

6. Set up automated payments

Enjoy the benefits of an online account by simplifying your life with automated payments.

• Complete the direct deposit setup to have your employer electronically deposit your paycheck.
• Enroll in automatic bill pay, so you never miss another due date.
• Create automatic transfers to save regularly in an emergency fund or toward a special savings goal.

A new way to manage your money

Today, you no longer need to meet with bank employees to open a new account. Most brick-and-mortar banks like Citizens offer a convenient, straightforward setup process. By following just a few steps, you can easily set up your new bank account and empower yourself to successfully manage your finances.

Interested in opening a bank account online at Citizens? Browse our checking accounts and our savings accounts, and open an account in minutes.