It is ideal for people who want to start a business or who are about to apply for a loan, which requires an exclusive account where it is easy to deposit sums of money periodically and safely.
What information do I need to open an online bank account?
What are the basic information required to open an online bank account? Doing so is very simple, and although the requirements will depend on the financial institution, the most common are:
Legal name of the company, the address of the beneficiary, their contact information, such as their telephone number or email address, the social security number and the financial information that will be required to make money transfers.
Can I open a bank account online without SSN?
In general, banks require a social security number to manage the opening of an account; however, some institutions allow you to open accounts online without this number.
Even if you do not have money or a social security number, it will be possible to open an account online with an ITIN identification number, as a replacement for the social security number.
How to open an online bank account in the United States
1 Find an online bank account that suits your needs
Each consumer has different needs; some want to open an online account to open a business, while others request it to receive a loan; thus, it is important to define the account that best applies according to personal needs.
This can be decided by a quick search on the internet, where you will find the financial institutions with the best benefits and reputations; then, it will be time to choose the best bank for you.
2 Request your account following the steps indicated by the bank
Once you have chosen a bank, it will be time to read in detail the requirements and documents that you will need to open an online account and fill out the corresponding forms.
Make sure you follow each step according to the bank’s instructions, so that there are no doubts or questions to be resolved, always presenting truthful and certified information.
3 Associate another account with your new online bank account
When the process of opening your new online account is completed, the next step will be to associate said account with an alternate account that you have at the same bank; for example, a savings account.
Some financial institutions give the user the option of associating the account with an alternative institution, such as Paypal, but in any case it is necessary to verify the account, a process that could take several business days.
4 Transfer money to your new account
You now have an online account! Make sure to make your first transfer with a minimum amount to verify that you know the operation steps and ensure that your account works correctly.
After opening your account and verifying your external account, it will be very easy to transfer your money between one and the other. With this process, you will also benefit from the rewards or points programs that the bank offers.
The best online banks in the United States
1 Ally Bank
Are you going to open an account online? One option to consider is Ally Bank, which has the benefit of not charging monthly fees and having the facility of making free transactions at Allpoint ATMs (within the United States).
Participating Ally Bank accounts are online savings accounts, checking accounts, CDs, IRAs. It is very important to take into account the limit amount that the bank establishes, so as not to generate extra fees.
2 Discover Bank
Discover Bank offers the ability to open accounts with a minimum balance, in addition to accessing the Discover Money Market, a program that offers a higher interest rate than Ally Bank.
One thing to consider is that a minimum balance of $ 2,500 is required, although they also offer 1% cash back on monthly purchases of $ 3,000 (with debit card).
3 Charles Schwab
Opening a checking account at Schwab Bank typically earns interest, as well as offering unlimited refunds, as long as the transactions are made at ATMs within the United States.
One of the main advantages of this bank is that it is very useful in case the user decides to travel abroad and use a debit card, since they do not charge a monthly user fee or additional fees.
4 Alliant Credit Union
Alliant Credit Union is a credit union that is geared toward students; specifically, to people under the age of 18, although adults can also open their accounts at that institution.
It is possible to open accounts for people between 13 and 17 years old, which will be monitored by parents, with the advantage of not requiring a minimum balance or monthly fees for use.
5 First Foundation Bank
First Foundation Bank is a savings account with very attractive interest rates, which are around 1.20% APY; without a doubt it is one of the best options on the market.
If you want to open an account at First Foundation Bank, you need an initial deposit of $ 1,000, but you don’t need a minimum balance or pay additional monthly fees.
6 Capital One
One thing to consider about Capital One is that it offers the possibility of having savings accounts and checking accounts, among others, without monthly fees or minimum deposits to open them.
Among its advantages are free online consultations; However, a disadvantage to consider is that the interest rates in this bank are usually extremely high compared to others.
Other options to open bank accounts online in the United States
This bank is ideal for people who want to make international transfers without having to pay very high extra fees or extra fees for use.
All you have to do is make an online registration, select an amount to send, verify the identity of the user, indicate the amount to transfer and add the recipient’s data.
2 American Express Serve and Bluebird
With American Express Serve accounts, the user can not only make purchases, but also withdraw money at more than 30,000 MoneyPass ATMs and make instant cash transfers.
For its part, Bluebird from American Express is convenient in the sense that it is an online prepaid card that allows easy handling and transfer of money; you can recharge at establishments such as Walmart.
Mercury is touted as an ideal financial institution for established entrepreneurs and entrepreneurs who want to transact without paying high usage fees.
Mercury is an online platform designed so that entrepreneurs have at hand all the information they require to have an ideal management of their financial balances.