The online space has come to be a real boon for many. Thanks to the internet, you can now do everything at the tips of fingers, while lying on your couch. From ordering food online to making reservations for your next holiday, you can do it all through the online space. If this is not amusing enough, you can now open a bank account online.

Not until very long, opening a new bank account was one of the most boring tasks. From having to visit the bank to produce a bunch of documents, the entire procedure could make you cringe.

If you are planning to open a bank account online, there is not much that you have to do. However, opening a bank account online will means being more involved than just signing up to a new email account. The procedure may be longer and you need to know and get a get things together before starting.

Source of funding – Like in a tradition bank account opening procedure, when opening a bank account online, you have to add a principal fund to the account. You will have to provide a source through which the money can be added. Doing this through a credit or debit card is one of the easiest ways. However, you can also transfer the funds from another bank account by linking it with the account number.

Documents and personal information – The bank requires authentication and thus you will have to provide personal details about yourself. You will have to provide information about your birth date, personal documents such as driving license, passport and more. In the case of a reputed bank, you do not have to worry about security as the information will be kept confidential.

The point of contact – Every bank maintains a relationship with their customers through regular communication. Thus, you will have to update your contact information. This will include your email address, phone number, and residential address. This contact information will be used to update and inform you about various bank deals or requirements in the future.