An online checking account functions the same way as does a checking account from a brick-and-mortar financial institution in your town. It can be more convenient, with access to automated teller machines (ATMs) in a wider variety of locations, and it's paper-free. As more personal financial transactions take place over the Internet and people are able to pay most of their bills using a debit card online, this type of checking account may be your best option.
Step 1
Compare services offered by several financial institutions. You'll find different advantages and disadvantages with each one. Some do not charge fees if you maintain a certain balance. Others not only charge monthly fees, but charge each time you send a check. Some companies may offer the convenience of making deposits at stores you frequent.
Step 2
Check the locations of ATMs provided by this bank or company. Using its ATM is probably free if you use the financial institution's debit card.
Step 3
Apply online to open a checking account once you make your decision. Make sure you meet the requirements, common among all institutions. Citibank, for instance, requires checking account clients be 18 years old or older, a U.S. citizen or a resident alien, and to have a U.S. address. You also need to supply your Social Security number and the number of your driver's license or state-issued identification card.
Step 4
Agree to the terms and conditions by checking the signature box.
Step 5
Make your initial deposit. You may be able to transfer money by entering the bank routing number and checking account number of another account or by using a debit or credit card number.
Step 6
Use a switch kit to change checking accounts completely. Some financial institutions allow you to transfer your entire checking account easily, including all automatic withdrawals, from your previous bank to this new account. Provide your old checking account information on a form at the website of the new account. You must confirm changes involving direct deposit with your place of employment or other source of income.
Things You'll Need
- Computer with Internet access
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