How to Open a Bank Account Online in Minutes

With innumerable options to choose from, opening a bank account can be a bit confusing. It requires some levels of research and preparation. The best way to approach this issue would be to get a good understanding of your financial needs before choosing to open a bank account online. This will help you assess the need for the the type of account you need to manage your finances more efficiently. 

Most banks in the UAE offer simple account opening procedures and allow applicants to open bank account online in just a few clicks. 

In this article, we will take you through a few simple steps to help you open your bank account online in minutes.

Step-by-Step Process to Open a Bank Account Online

Here is the simple process to open a bank account online in the UAE.

1. Choose the Bank for Opening an Account

To find the best bank account, visit multiple banks’ online portals and check for the features and benefits they offer. 

A few essential things that make the best bank account are as follows.

  • Easy cash deposit and withdrawal processes
  • Simple Bill Payment Options
  • Perks like a free debit card and chequebook
  • Reasonable interest rates
  • Attractive deals and offers on loans or credit cards
  • Online Banking/Mobile Banking
  • Mobile Check Deposit
  • Account Security
  • Email and SMS Alerts

There are various other features and benefits that you could look for based on your preferences. 

2. Visit the Chosen Bank’s Online Portal

First, you must discover your financial needs to know the type of bank account you want to open. Then, go to the chosen bank’s website and check the types of bank accounts they offer. 

Here are the types of bank accounts that most banks offer.

  • Savings Account: This is the most popular bank account that people open in the UAE. The savings account encourages people to increase their savings and earn good interest in them. Most banks in the UAE offer higher interest rates on the minimum required balance maintained in the savings accounts.
  • Current Account: People open a current account for making easy day-to-day transactions. You get a debit card and a chequebook to withdraw money from your account with a current account easily. The interest rates offered on the current account are comparatively lower than savings accounts.
  • Fixed Deposit Account: This is the bank account for people who want to save money to fulfil their long-term goals like building a house, a child’s education, etc. With a fixed deposit account, the account holders need to deposit a certain amount every month and withdraw only when the deposit tenure gets completed. However, some banks in the UAE offer flexible terms to make the process convenient for the applicants.

Go through the benefits offered and once you decide, go ahead and check the process to open that bank account online.

3. Check the Account Opening Process

Most banks in the UAE have almost a similar account opening process. However, you still need to visit the chosen bank’s online portal and know how to apply for opening an account with them. If you are a new customer, you can simply visit the bank’s website and fill out an online application form to open an account.

However, if you are an existing customer, you can log in to the bank’s Internet Banking and apply for opening an account in just a few clicks. But before you do that, make sure you check the eligibility criteria and the documents required to open a bank account online.

4. Keep the Required Documents Handy 

Make a list of the documents required to open a bank account online and keep them handy while applying for the same. Here is the list of documents most banks in the UAE ask for while opening a bank account online.

  • Emirates Identification Card (Identity Proof)
  • Address Proof (Original Passport)
  • Salary Certificate (If you are a salaried employee)
  • Latest Passport-sized Photographs
  • Applicant’s Signatures to upload

5. Provide Your Details and Upload the Documents

Once you have all these documents ready, you can go ahead and apply to open a bank account online. You need to fill out an online application form by providing all your details like your name, age, mobile number, email address, occupation, etc. 

Next, submit the online application form along with all the other required documents to process your application. Once done, your bank account will be opened instantly.

Final Thoughts

Opening a bank account online includes various other benefits like – 

  • No paperwork required
  • Open a bank account online at your convenience
  • Maintain your account easily using a mobile app
  • Start availing services instantly
  • Make the right choice without any hustle
  • Earn high rewards and bonus

You must first understand the terms and conditions like the minimum balance requirement, initial deposits, withdrawals limits, ATMs usage charges, and much more before you choose to open a bank account online. Not all the banks in the UAE are the same. They all have different banking requirements and offer varied benefits. 

Before opening a bank account online with any of them, make sure you do your homework and make an informed decision.

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