More and more French decide to change their vision of the bank by opening a bank account in an online bank. But how does one open an account online and what are the procedures to follow as well as the different advantages and disadvantages of this type of account ? This is what we suggest you discover here with detailed explanations.
What is an online bank account ?
As its name indicates, an online bank account a bank account is all that there is more classical, with the difference that its opening as its management are solely on the Internet.
What are banks a bit new, the online banks which offer this type of bank account, including offering more attractive prices than the traditional banks and a management more convenient, from home and without any intermediary.
Offers bank accounts online are more numerous and it is easy to find the bank that suits his needs depending on his personal situation and his projects.
What are the requirements to open a bank account with an online bank ?
As for a traditional bank, a person resident on French territory may open a bank account with an online bank. However, other conditions must be met including :
- To be major : The opening of a current account online requires that you have the legal age of majority at least 18 years of age. Minors and emancipated may also request the opening of a bank account online but this will require the permission of the legal guardian. The major persons and under guardianship or trusteeship will also have to provide this authorization and to follow a procedure of opening special.
- Not to have prohibited a bank : If banks have any obligation to agree to open a bank account regardless of income, to persons subject to a prohibited bank will not be able to open an account with the online banks. This is the reason why banks ask the Bank of France in order to verify this filing. It is important to note that if you are under the blow of a ban on banking, the law authorizes you to have access to a bank account with basic services such as a RIB or IBAN, the sample by the TOP, bank transfers, account statements, deposit and withdrawal of cash, the consultation of the account and an atm card to a permission. However, it is necessary to go to the Bank of France closest to your home to ask to benefit from the procedure of right to an account.
What documents are needed to open a bank account with an online bank ?
Online banks, in the same way that traditional banks require customers wishing to open a bank account, a number of supporting documents including :
- An identity document : identity Card or passport.
- A proof of address in the form of an official document such as a rent receipt, a phone bill or electricity.
- Finally, your signature will also be required to ensure that the bank has a specimen of the signature used to verify whether it was you who issued some further documents.
These different elements must be provided to the bank of your choice and will be verified by vote banker as required by the French legislation. In effect, a bank that carries on banking business, physical or online, has the legal obligation to control the information concerning their clients.
All of the items listed above are the only items that you will need to provide for the opening of a bank account with any bank online. But some banks may also ask you for other documents and supporting documents to verify the information before opening a bank account. This is the case, for example, pay slips or the last tax notice. If you are not an employee, you will be able to provide any other document relating to your income as a certificate of a CAF, ASSEDIC, or other. Without these documents, a bank has the right to refuse to open a bank account to its customers.
The minor must also provide a booklet of the family. Persons under a legal disability must also submit a judge’s order of guardianship and a copy of the final judgment.
Among the other elements to provide, it is also necessary to speak of a first deposit is often required when the revenues are not domiciled in the institution in question. Thus, a cheque or a bank transfer may be required prior to any opening in a concrete of a current account. This amount will serve as a guarantee to the bank for the payment of fees in current bank, but this money can of course be used by the account holder. The amount of this initial deposit varies from one bank to another.
A opening bank account online is it more simple ?
This is one of the main advantages of online banks. In effect, open a bank account with a bank online is obviously easier than opening one with a bank physically since everything is done on the Internet without the need to move to the agency. Online banks are at the disposal of its future customers are online forms to fill out and electronically validate. A folder is then sent by the bank to the client, and the client just needs to validate it, sign it, and return it with the required documents.
Some online banks also offer procedures more simple and does not require reference zip of a folder with a simple electronic signature and sending documents electronically, but this type of procedure is still rare. Of course, when everything is done online, the procedure is secure and guarantees the confidentiality of the information transmitted.
Once your bank account is actually opened, you will be notified by mail or email. You will then need to activate your account. To do this, and as we have mentioned above, you will have most of the time make a first deposit money on your account. If your online bank does not require a first deposit required, you will need to wait for the payment of your salary or your income before your account is permanently active.
You will then have access to your personal space and secure on the website of the online bank where you opened your account. You can choose different options and do all the transactions included in your offer such as transfers, deposits and withdrawals, bank checks or withdrawals.
If you are already a customer of another bank and want to change it to open a bank account with an online bank, be aware that some banks may be in charge of the legwork for you, including ensuring that your various debits are taken into account.
What are the benefits to open a bank account with an online bank ?
This is not without reason if online banks attract each year more and more of the world. In fact, open an account online has many advantages that we offer you to discover here.
The bank charges : This is of course the large strong point of the online banks which offer bank fees much less expensive than those of traditional banks. Some online banks offer the same banking accounts without any charge current, with sometimes even the bank card free of charge under certain conditions. This is possible thanks to the fact that online banks have fewer operating costs than agencies physical. In general, the economy can reach 50% compared to a traditional bank.
Savings more interesting : In addition to their offers current accounts, online banks offer savings books online. Called » supes booklets, the booklets online savings do not generally have no running costs and an attractive remuneration that can reach the triple of what was proposed in the other banks. The welcome offers are more often proposed in the form of an even higher rate, or a welcome bonus.
The opportunity to invest in the Stock market at lower cost : The investment products are also the most attractive among the online banks that do not charge for example no fees on the payments and may offer the trade-offs with remuneration attractive on the fund by euro life insurance and stock exchange orders online that can be 10 times less expensive than those of traditional banks.
A greater flexibility of usage : You wish to save time in daily life and be more effective in the management of your money ? Through your secure customer area, you can perform all your banking operations from home or elsewhere since many of these banks offer a mobile app. Of course, if you need advice or have a question about the operation of your bank account, advisors can be contacted during opening hours, and extended using modern means such as chat or interview via webcam. The purchase of a new product or service is also done in a few clicks by uploading a simple file or its signature online.
Innovations : frequent: by their operation 2.0, online banks are betting their success on innovation and regularly propose new services and technological innovations that simplify the lives of their clients.
A better reachability : are You tired of having to ask a day off or lose the time to reach a counselor during the opening hours of the offices ? Online banks has the advantage of being much more available to listen to you and respond to you. It is thus possible to join the counselors for the weekend and even up to 21 hours in the evening.
In the Face of all these advantages, it would be a shame not to take advantage of online banks for opening a bank account.
What are the concerns with opening a bank account online ?
Some people are attracted to online banks but raise some issues in the face of reluctance special. Here are some arguments that will convince you of the benefits of this type of banks.
— The lack of human contact : By opening a bank account with an online bank, you will, of course, a bank advisor is dedicated that you can attach if needed and who will be in charge of your file. In addition, you will have the option at any time to attach to a physical person, with schedules much larger and better responsiveness than what was proposed in the traditional banks. On the other hand, if you feel secure, you will have the opportunity to discuss with your advisor by webcams interposed. The human contact is always preferred by the banks in line.
- Access conditions more stringent : It is a belief absolutely unfounded about the online banks, since the conditions for opening an account are roughly the same as for traditional banks. If some banks want to be more selective with revenues minimum required, there are a wide variety of offers that fit everyone. It is therefore wrong to think that online banks are not accessible to all. It is enough to choose the right bank among the wide range of agencies online.
- The complex steps taken for change of bank : For a start, you should know that most online banks are willing to grant you a bank account even if you do not want to separate you from your current bank. On the other hand, in case of change of bank to an online bank, dedicated services are in charge of everything in your place. Also, all the administrative part concerning the communication of your new bank details to your creditors for example will be supported by your bank online and you will not have to worry about anything. It is therefore perfectly possible to change from bank to bank online as easy as to open a first bank account online.
- Deposits of cash, impossible : It is also wrong to think that you can’t deposit cash on a bank account online. In fact, by visiting a post office to make a cash order, you will be able to deposit money cash into your current account in the same way as you would do with a classic account. On the other hand, some online banks dependent on a network of traditional banking allow deposits of species in an agency such as Hello Bank at the counters of BNP Paribas or Monbanq in the network of the Crédit Mutuel.
- The inability to cash a check : again, believe that the internet bank accounts do not allow you to cash a check is a misconception. By opening a bank account with an online bank, you will have an envelope already with postage included, through which you can send your cheques will be cashed directly into your account immediately upon their receipt. The only difference will reside in the collection period for which may be longer than a day or two.
- Little credit opportunity : If it is true that i was a few years ago, online banks did not actually credit offers, it is not the case today. In fact, these days, more and more online banks begin to offer loans of all kinds to their customers. Some brands such as Boursorama Bank or Monabanq even offer large loans such as mortgages with attractive rates. It is of course possible to take a consumer loan or a reservation of money in most banks.
In what online bank to open a current account ?
Now that you are convinced of the advantage of opening a bank account with an online bank, it only remains for you to choose a bank that suits you. The offer is relatively large, it is best to compare the different types of accounts with their conditions, and their advantages and disadvantages in order to find a package suited to your needs.
You can easily find comparative online like the one we offer on our site and give you an overview of all the major online banks and their specific characteristics with, among others, the fees, interest rates, and possibly the promotions and special offers.