Indeed, opening a Bank Account is much easier and more accessible today with Online Banking, where one can open a Zero-Balance Account without visiting a branch. Zero-Balance Accounts are highly popular because they do not require a minimum deposit or balance. Hence they are in high demand. Here is a guide to opening a Zero-Balance Account online:
- Choose the correct bank
Firstly, choose a suitable bank that allows you to open a Zero-Balance Account online. When selecting, consider the ease of accessing customer service and the quality of the online mediums, along with services that accompany the account, like Debit Cards. Compare the various banks offering Zero-Balance Accounts to find one that is best for you.
- Visit the bank’s website or app
Once you identify the bank, visit their website or download a Mobile Banking application if one is available. Currently, most banks have relaxed the process of opening a Bank Account and accept applications through online platforms for Zero-Balance Accounts. Ensure that you navigate to a safe and legitimate website or application to open your account.
- Fill out the application form
Once you click on the right page on the bank’s website or app, you need to fill out a form to open a Bank Account. You are asked about common details, such as your name, address, date of birth, and contact details.
- Upload the necessary documents
The most common method the bank uses to verify the identity is requesting the upload of scanned copies or images of specified documents. It usually includes an identification document: a valid photo ID and proof of address. Online verification methods, such as live video calls, are sufficient for completing the identity check. Once you submit all your documents to the bank, it accepts and evaluates your application.
- Complete the verification process
After submitting your application and documents, the bank takes a few days to verify. After reviewing it, the bank determines whether your information meets all requirements. You may receive updates about your account status through email or text messages.
- Activate your Zero-Balance Account
After accepting your application, the bank replies with details on using the Zero-Balance Account. Since your account is activated, you can benefit from all services offered in the bank’s digital platform, including Mobile Banking and fund transfer.
Conclusion
Opening a Zero-Balance Account online is easy and saves you time. It can be done completely online without a visit to the bank branch, provided you have all the correct information.