Online checking accounts are becoming increasingly more popular, as they allow you to meet many of your banking needs without leaving home. According to data compiled by Forrester Research, an independent market research company, by the year 2011 at least 75 percent of American households with Internet access are expected to do banking online. Another advantage of online banking is that customers frequently set up accounts to serve as bill payment accounts. A bill pay account makes it easy to manage and pay your bills on time each month.
Step 1
Search for information about the top rated online bank accounts. This will give you a starting point for finding an online bank that meets your needs. Some of the largest brick and mortar banks offer online checking accounts for customers who do not live near a branch bank.
Step 2
Visit the websites of several banks that offer online checking accounts. Review each bank's terms and conditions for online accounts. Look for the bank that offers the lowest fees associated with a checking account. Many online checking accounts offer interest payments, so you may want to compare interest rates as well.
Step 3
Assess the quality of customer service offered by an online bank. Make certain that you will receive the help you need if you experience any problems with your bank account. Look over the details related to the types of customer service available, in addition to the hours of availability. Ask questions to measure the speed and friendliness of the bank's customer service representatives.
Step 4
Begin the application process by answering every question on the application. Enter your name, address, work information, birth date and social security number. Look over the application before hitting the submit button to make sure that you haven't missed anything.
Step 5
Determine how to fund your online checking account. Many online banks require that you put funds in a checking account from an offline bank when you make the initial deposit. However, some banks allow you to use a credit or debit card. You will need to make a deposit before your account can be activated. A bank may require you to make an initial deposit of at least $100 to open an account. Other banks require no initial deposit.
Step 6
Wait for instructions on how to finish opening your new account once you are approved. Although it is fairly easy to open an online checking account, sometimes banks require that you mail in a signature card. This is usually the case if you intend to send in checks for deposit into the account. Other than that, you can complete all other aspects of creating the new account online.
Tips and Warnings
- Sign up for accounts that offer FDIC protection for your money. Make certain an online bank offers a fully secure website. Look for security symbols so that you know your personal and financial information will be safe.
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