Opening a checking account online is easy, quick, and painless for most people, but there are several things to consider before you begin the process. For starters, do you want to open a regular checking account using the online platform of a traditional brick-and-mortar bank or credit union or are you more interested in an electronic checking account at an online-only bank? The application process is similar but the accounts differ, especially when it comes to features.
KEY TAKEAWAYS
- You can open an account online at a traditional bank or credit union or an online-only entity.
- Accounts opened online are under the same regulation as accounts at regular banks and are FDIC insured.
- Account features vary by bank and by type of account. Research carefully.
- There is a process to dispute denial of your application.
- Once approved, use your new checking account just like one at a traditional bank.