Accounting And Payroll

How to Open a Bank Account Online

Online banking makes it easier to send and receive payments, check account balance, pay bills, and stay up to date with the latest news regarding your bank and their services. While many services have moved online and don’t always require going to the bank, opening a bank account was a different story. Now it’s possible to open a bank account online, and we’re going to walk you through the process in this post. 

What is online banking?

Online banking has become popular lately, but it’s older than most people think. The history of online banking started in 1983 when the Bank of Scotland offered Nottingham Building Society customers the service called Homelink. The service allowed clients to connect via a TV set and a telephone to pay bills and send transfers. Although this service was limited, it marked the beginning of online banking that we will come to know and use today. Over the next few decades, the efforts to move banking services online have improved significantly. Today online banking allows clients to carry out financial transactions via the internet. In Middle East, online banking services are now advanced and make it easier for account holders to control their money, payments, and other transactions. Setting up an online bank account is also one of those services.

Can you open a bank account without going to the bank?

Although many banks offer online banking services, you’re still required to go there to open your account. That’s not overly convenient, especially nowadays, when avoiding unnecessary exposure to potential infection with COVID-19 has become crucial. The good thing is that you can open an online bank account without visiting your bank, and the whole process can take a few minutes max. 

Which bank is the best for online account opening?

A wide range of banks allows you to open an online bank account in UAE, which is why it’s not easy to find the right one. To find the best bank for your needs, you need to take some criteria into consideration. Ideally, your bank should be reputable, trustworthy, and convenient to do business with, and provide a wide spectrum of services and benefits you can use. First, Abu Dhabi Bank stands as the best place to open a bank account online primarily thanks to its strong reputation, various account features, and easy process of setting up the account.

How to open a bank account online?

The easiest instant bank account opening process is in First Abu Dhabi Bank, which allows you to set up everything without going to the bank. All you need is a phone and an internet connection. To open its one account, you need to apply on the website and download the app. The app is available for Android phones via Google Play, iPhones via Apple Store, and Huawei phones via Huawei App Gallery. The online application requires basic information alongside a monthly salary. This way, you can open a new bank account in minutes and start receiving and sending money.

What is the minimum salary to open a bank account online?

Speaking of monthly salary for online bank account opening, the exact number may vary from one bank to another. In FAB, the minimum monthly salary required for instant account opening is AED 10,000. 

What if I’m not a salaried client?

If you’re not a salaried client, you can still open a digital bank account. In order to do so, you need to make a minimum initial deposit of AED 10,000 per month. With the regular deposits, you get access to loyalty programs and other features the online banking service offers.

Is online bank account safe?

Security concerns are understandable. You want the account and all information on it to be safe and protected. The bank has developed advanced security systems to give you much-needed protection. Additionally, online purchases are also protected with a one-time password. 

What do you get with online banking?

Everything is online today, so it comes as no wonder that banks move their business to this sphere as well. By opting for online accounts, you save time, money and get access to a broader spectrum of services. 

With online banking, you have no minimum balance charges. Also, you get a free platinum MasterCard debit card that you can use for purchases and payments that will help you get rewards, discounts, special offers, lounge access, and other perks. 

Bottom line

If you need a new bank account, then going online is the best option. Setting up an online account is easy and convenient. A simple application form and app are required to get instant access. The best thing about online banking is its practicality and option to win amazing rewards that come as a part of a loyalty program.

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