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How long does it take to open a bank account online?

If you are interested in giving net banking a chance, the process of signing up for a new bank account is very easy. Read More

Tuesday April 18, 2023 2:07 PM, ummid.com News Network

How long does it take to open a bank account online?

Owning an online bank account is one of the most convenient things these days. When you opt to sign up for your bank’s net banking services, every banking service is accessible to you at your fingertips. Take an online bank statement as an example. It is very easy to access your account statement through online means. If you are interested in giving net banking a chance, the process of signing up for a new bank account is very easy.

What are the steps involved in the online account opening process?
Listed below are some of the steps that are involved in account opening through the online mode:

• Researching the banks

Before signing up for a new bank account either through offline or online means, you should carry out a thorough research of the bank accounts offered by different banks. While carrying out the research, please focus on things like the rates of interest offered by the bank. For instance, the savings accounts of IDFC FIRST Bank are best known for offering attractive rates of interest and more than 25 commonly-used banking services free of cost. Once you find a bank that suits you, proceed to sign up for an account in the said bank.

• Filling out the application form

For doing so, pay a visit to the website of the bank. There, click on the account opening application form. On the form, please enter personal details such as your name, residential address, and contact number as listed in official documents. While entering these details please keep documents such as Aadhar card, PAN card, and driving license ready.

• Finishing the KYC process

KYC is the most determining step in the account opening process. In this process, the bank official will verify all the information provided by you. If the official concludes that the information on both the application form and documents match, your application for a new bank account is accepted, and the bank will mail you the ATM withdrawal debit card and the account details such as the account number. Moreover, nowadays, it is possible to complete the KYC process through a video call too.

• Accessing the account features

Once you have received the account details, log in to your net banking account and access the different features such as checking the account balance as well as details regarding your money transfers. Also, please make sure to add some balance to your account. Once you have logged into your account, your new bank account becomes active.

Following the four steps above will help you in activating your bank account. In firm contrast to the account opening process through offline banking, the process of opening a bank account online is very simple and more importantly, very quick. Every step of this process, right from filling up and submitting the application form to receiving the account number will be completed in a matter of a day. So, between the offline and online process, the latter mode of the account opening process is preferable.


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