How to Open a Bank Account

Step by step
How to Open a Bank Account

We all come to a point in our lives where a bank account makes everything a lot easier: paying the bills, the rent and receiving salary all happen usually with bank transactions, but before opening a bank account, there are various aspects you should consider.

Applying for a bank account and card is quite simple, especially with the bank’s assistance, but preparing for the process will definitely fasten things up and ensure that you are making the best possible decision.

Finding the Right Bank

credit card bank

Before the whole application process, try to find the bank that offers the most suitable options for you. This can be a bank that your family/friends have good experience with, or a bank where you feel comfortable – don’t forget that you are trusting them with your money.

The First Consultation

credit card digital machine

Choose the two banks that you sympathize with the most, and ask for assistance before applying straight away. Sit down with an assistant to chat about your options and get a better understanding of the bank.

Ask Around

wallet credit card money

It’s essential that you pick not only the right bank, but also the right bank account type. Talk with an assistant during your first consultation to see which is the perfect match for you: a basic account, a joint account, or maybe a business/savings account.

Apply Online

laptop black and white headphones

If you already decided which bank and account type is the right choice for you, fill out a quick, online application form to get an appointment as soon as possible. By filling out the form online, you will also fasten up the process and you won’t have to go through all of the information all over again once you’re there.

Prepare Your Documents

stack of credit cards wallet

Check the bank’s requirements: they usually ask for identification (ID, driving license or passport), a proof of address and job, but it varies with every bank.

Get Ready with Codes and Passwords

bank interior luxury

Be prepared: they are going to ask you lots and lots of security questions. From your online access details to PIN and other safety codes, you will have to provide everything. It can be really overwhelming all at once, so make sure to take notes of your given security answers and all the different codes.

Take Your Time

woman nature sunset

Opening a new bank account can last anywhere between 1 and 3 hours, depending on the security questions and general identification process. We know, it already sounds like an eternity, but if you have any questions, the setting up process is the perfect time to ask.

Store Your Documents in a Safe Place

pile of documents binder

Once you are done with your application, you will receive lots of documents about the online banking system, emergency phone numbers and a general FAQ notebook – keep them in a safe place in case you loose your bank card or have any further questions.

After finishing the application process, you will become a bank account owner! Although it can take up to 1-2 weeks for the bank card to arrive, you will have your account opened ideally in 1-2 days after the registering process.

Related articles