Whether online banks or traditional banks, all now offer to open an account online. Find below all the necessary procedures, but also the specific conditions which do not necessarily apply when opening an account in an agency.
The specifics of opening an online account
Before going into more detail, opening an account online has some specifics compared to opening an account in an agency. Specifics which may even prevent certain customers from being able to subscribe.
These conditions are based on the obligation that banks have to verify the identity of their customers when registering . However, for this, a physical appointment is requested, to ensure that the client is the one who provided the identity documents.
To be able to offer the opening of a bank account online, banks have found an alternative: ask the customer to provide a bank account details issued by another French bank. Thus, they have the assurance that, since the client has another account, another bank has already made this famous physical meeting. It will therefore be complicated to open a first bank account directly online .
Is everything done online?
It depends on the bank chosen to open its bank account on the internet. While most offer to fill out the form directly on their site and scan (or photograph) the attachments to be communicated, two give the option of choosing between opening online and returning by post: BforBank and Fortuneo.
In the event of opening by post , the client must still complete the online form. However, instead of signing the contract electronically and downloading the supporting documents, he must print everything and then send the completed file by mail. The customer then also has the possibility of making his first transfer by check.
All other steps to open an online bank account are done remotely :
- Information on the registration form (identity, contact details, family situation, choice of banking offer, etc.)
- Electronic signature of the contract with sending of a code by MMS
- Download of supporting documents and validation of the request
- The bank is studying the file. Once the account opening has been validated, the means of payment, secret code and connection codes to the customer area will be sent by post.
It is also quite possible to open a joint account online. It will suffice to provide supporting documents for each holder.
What about the first transfer to open an account online? This must be done from another account in the name of the client. The amount will be available on the account once opened.
What supporting documents must be provided?
To open an account online, it is obviously necessary to provide a certain number of supporting documents, as you would in a traditional bank. They may vary depending on the establishment chosen, but overall the documents found are:
- A valid ID (national identity card or passport)
- A bank account RIB
- Proof of address (less than 3 or 6 months old)
- The last two pay slips or the last tax notice
- Client’s signature on scanned white sheet
What about the electronic signature?
Increasingly common, even in physical banks, the electronic signature simplifies the procedures for opening an account online. It guarantees the authenticity, integrity and non-repudiation of the client. This is also why online banks ask for a signature on a white sheet.
Another way to prove your identity is by sending a code by MMS . This again ensures the identity of the person who wishes to open an online bank account. So do not panic, everything is in place, and explained, to electronically sign documents securely.
How long to open an account online?
The deadlines to open an account online depend on many factors: the correct information of the form and the sending of supporting documents, the postal deadlines, the periodicity (holidays, promotional offers…)… In all cases, open an account online allows you to open a bank account quickly.
All in all, it generally takes at least ten days to open an online account:
- Form information: between 10 and 30 minutes
- Validation of the file by the bank: between 24 and a week (working days)
- Sending means of payment: between two working days and one week
Open an account online: is it dangerous?
There is no danger when you want to open your bank account online. Most online banks are owned by large groups, and the legal requirements are exactly the same. The seniority of establishments is often a way of reassuring themselves, but online banks, despite their young age, are just as solid. The sites set up numerous security systems with for example a fully digital keyboard which makes it possible not to store the keys typed.
The IT security of online banking sites also results in the presence of a small padlock next to the navigation bar , which ensures that the page is well secured. Another point, a little more technical: check if the address starts with https and not http . This “s” is further proof that the site you are browsing on has a security system and that you can open your account online without worrying.