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How to open an online savings account?

Updated: 9/27/2023
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Jamison Bechtelar

Lvl 10
4y ago

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Many people open up a checking account online, but you can also open up an online savings account. The process is similar to that of a checking account. Depending on what bank you plan on opening your new savings account with, you will have the option to choose from a range of accounts. Some accounts require an opening deposit of $100. You will be able to see which savings account you will benefit from.

In order to get started with the process of opening up your new savings account, you will need to make sure that you have all of your current bank information, such as account and routing numbers and some form of identification, such as a driver's license, state, or military identification card. The next step is to fill out a short form, in order to start your way to enjoying your new account.

Verify and confirm that the information that you just completed is correct and accurate. Once you confirm, it will take a few minutes for the bank to process your information. If everything is accurate and correct, the next step is to fill out your bank information from your current bank. If you don't have this information available you can save the information that you have and complete it at another time. Once you have ready to make an opening deposit, fill out the form that allows you to input your bank account and routing number information.

A savings account card will be issued to you in seven to ten business days. Keep your card is a safe place. When you filled out the online form, you were asked to choose a pin number. Don't ever give out your pin number. If your card is ever lost, contact the bank immediately. The bank will cancel and block any further transactions that may occur on the card. When it comes to any type of savings or checking account, you should always keep a record of what you spend, so that you don't end up paying overdraft fees, which can range from $30 to $45.

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Helen Christiansen

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2y ago
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Q: How to open an online savings account?
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