Opening a personal account online takes just a few minutes, and you can get it done in the comfort of your home. At Minnwest Bank, you can easily open a checking, CD or saving’s account online. In this guide, we’ll walk you through how to open a checking account online, so you can be up and running with a few keystrokes.
To open a checking account online in the U.S., you have to meet the following criteria:
To open a checking account without going to the bank, you’ll want to gather up your documents and have them at the ready. While you’re at it, make sure you’re working with a secure online connection. While a bank’s website is encrypted, don’t take your chances on a public Wi-Fi network.
Social Security Number: The bank uses this information to verify your identity, meet governmental requirements and to check your credit history.
Government-issued ID: Your driver's license, passport, state ID or military-issued ID all can be used to help the bank verify your identity. Just make sure your ID hasn’t expired.
Funds for an initial deposit: Many banks ask for a minimum deposit. Before you get rolling on the online application, confirm the amount and find your cash source:
Your current contact information: As you might have already suspected, the bank will want all the other essential details, including:
No, but’s its always smart to consider this before you open an account, because a hard credit check can lower your credit score by five points. In most cases, opening a checking account wouldn’t trigger a hard credit pull. But there are two important ways your financial history can fit in with opening a checking account.
A hard credit inquiry means that:
To learn more, read Hard pull versus soft credit inquiry: What are they and why do they matter?
ChexSystems report: Some banks conduct a different type of credit check for new customers, conducted by a reporting agency for banks called ChexSystems. Unlike a hard credit pull, which examines your payment history and credit usage, ChexSystems compiles any past problematic banking behaviors, including: involuntary account closures, frequent overdrafts, unpaid balances and fraud. If you have any unpaid balances at another bank, you may want to resolve those before opening a new account to clear your name.
Opening a checking account online is perfectly safe. Because you will be submitting personal information, there are some precautions you will want to take before you enroll.
Make sure you’re not signing up at a convincing-looking fake website. Check to see if they’re backed by the Federal Deposit Insurance Corp. (FDIC). Check for the logo on the bank’s website, and use the FDIC’s search tool to confirm your bank’s status.
When signing up, use a secure internet connection. Steer clear of using a public Wi-Fi signal, where hackers can potentially get hold of your personal details as you enter them into the field.
Of course, you’ll want to use best practices when creating a password. Include a number, a unique character and capital letters, so it’s harder for cyberthieves to crack the code and raid your account.
For additional safe online banking practices, read Mobile banking 101: Why it's safe and convenient.
Just about every bank lets you open an account online. Convenience is always great. But what happens if you’re dealing with a major money matter? That’s where it helps to have a community banker as a resource you can trust. When you open an account at Minnwest Bank, you’ll receive friendly, personal service from bankers with a passion for helping customers make smart money decisions. You’ll never feel like just another account.