You are an Australian and you do not have a bank account? This post, InfoCreditFreeopen guide people to open bank account online Australia in some steps.
Nowadays, people can open bank account very easy. There are two ways for people to open a new account by visiting a bank branch or website. What is the easiest to open a new bank account in Australia? That is open online.
OPEN BANK ACCOUNT ONLINE AUSTRALIA
Just like the previous article such as business credit card, the post today about “Guide people to open a bank account online Australia in some steps” includes four parts: “Somethings people need to meet when applying online for a bank account”, “Some benefits when you open bank account online?”, “Somethings people need to know when you open bank accounts online Australia?” and “Five steps to open a bank account online Australia”
1. Somethings people need to meet when applying online for a bank account
- You are an Australian resident and have an Australian residential address
- You are at least 18 years old (for most banks)
- You are able to provide 100 points of ID to complete the bank’s customer identification processor or you are an existing customer of that bank
- You use the bank account for personal purposes only
2. Some benefits when you open bank account online Australia?
People do not need to visit a branch to open a new bank account anymore. People can open a bank account, deposit money and people can set up automatic payments all from the comfort of their home. Once people have applied, just wait for the card to be sent them in the mail, activate the account and they are good to go.
- People can skip the bank queues. Why wait in line at the local branch when people can apply and open a bank account online in minutes.
- The application forms to open an account online are easy to use. Comparison websites give people all the information people need to make an informed decision and provide instructions on how to apply a bank account online.
- It doesn’t take long to open. The online application only takes 10 minutes to complete.
3. Somethings people need to know when you open bank accounts online Australia?
3.1. Compare accounts to find the right one
People need to shop around to find the best bank account being suitable for you. Find the right account and order the product by featuring features like monthly service fees or ATM charges by clicking on the arrows in the table headings. You can compare accounts by card type, ATM fee and minimum monthly deposit required for monthly fee waivers.
These are the main features of your bank accounts. However, there are additional charges that may apply, which you can find listed on our bank account review pages. You can also go directly to the secure online bank account and secure online application site from the comparison board if you’re ready to sign up.
3.2. Apply for your account online
People need to click ‘Open’ and a new window will open directing people to the account provider’s website and a secure online application. Customers are asked to provide some basic information about themselves such as the name, date of birth and residence, driver’s license number and tax file number (TFN) if they have one.
Make sure customers have this information available before they start the app, as the app may time out and close if you do not leave the computer for a while. Once you complete the online application for your bank account, you will receive an email from your account provider with information about what happens next.
This email will arrive within a minute or two after you submit your application to the bank. You may need to verify your identity before it is fully approved, otherwise, you will receive a welcome package shortly after.
3.3. Verify your identity
If the customer is a new customer, they will need to verify their identity before they are approved for the account. This can be done over the internet depending on the identity documents they can provide. Some banks require customers to verify their identity directly. If they are already a bank customer, they will not need to complete this step.
Once the verification is complete, people can send money to their account, but you will not be able to withdraw money if they have not verified their identity.
3.4. Your debit card arrives
Your bank account debit card will arrive in the mail once you’re approved, and you’ll find out how long it takes to receive your confirmation email after you submit your online application. Debit and PIN are sent privately to you for security reasons. When you receive your card, you need to sign the back and activate the card so that you can withdraw your money. This is a simple process that can be completed by phone or online.
3.5. Starting using it!
- Switch the direct debit and automatic payments. Transfer all automatic payments to your new account by filling out the regular form of payment authorization form. This will allow your new bank account provider to automatically switch to your new account and help you avoid manually changing each direct debit agreement.
- Set up online banking. The last step should be set up internet banking. This allows you to manage your money and make payments to other accounts from your connected internet device. Download the account provider’s online banking application and give their customer service team a call to create a password.
4. Five steps to open a bank account online Australia
4.1. Choose a bank
People need to already do this before. If not, then walk around the area and talk to various banks to discuss what exactly people get if open a bank account. People can choose a bank based on the services they offer which other banks might not provide. Some private sector banks offer a higher rate of interest than prevailing 4%.
4.2. Visit the bank or its website
When people have decided upon the bank, people may visit the bank during the banking hours along with the initial deposit and identification documents, to open the account. However, people can also open the account online by visiting the bank’s website, which people can do at any time and from anywhere.
4.3. Choose the banking product
A bank account provides a lot of types of accounts and services which people can choose to suit your need. For instance, people may choose a savings bank account for the basic banking need or a current account in case people have a business.
4.4. Provide your information and documents
People need to fill up the form, affix the photograph and provide the Know Your Customer (KYC) detail. People must submit various documents which include the photo ‘identity proof’ in the form of the PAN card, Passport or Aadhar card, ‘address proof’ in the form of the Passport, Voter ID card, Ration card, or Aadhar card.
4.5. Agree to terms and conditions
Before putting your signature, it’s very important to read all the conditions and terms very carefully and people can contact the concerned person in case of any doubt. Most of the bank fill the entire form on the behalf and people just need to submit the documents and put the signature after reading all the conditions and terms.
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