The procedure in opening an account online requires your basic identification, email address and a savings or checking account with another bank. With a few things you can open an online bank account in as little as thirty minutes. Although it is very easy to open an account online, it is necessary to have a few things prepared ahead.
Although it is not really necessary to have a local checking or savings account, it is more convenient to link your local account to your new online account to speed up the process of transferring funds. You should also get ready a blank check or savings deposit ticket with the information of your bank and your account information. You will need this to inform your online bank how to transfer funds to and from the local bank.
Moreover, you need to supply for basic information such as phone number, mailing address, email address and SSN. The SSN is required by your online bank for IRS reporting purposes. Keep in mind that banks differ from each other and in order to regulate money, there is a routing number required as well as your account number. The routing number is found on each document that your bank will print for use externally or internally. Personal checks, savings deposits, money orders and cashier’s checks have routing numbers printed.