5 Ways to Set up a New Bank Account
As much as there are a variety of bank accounts, from a current account to a savings account, there are different ways to set up a new bank account. We take a look at your options.
Whatever route you take to open a bank account you will first need to fill in an application form and usually provide proof of your identity including your full name, date of birth and address.
Be aware that if you’re bankrupt or have a record of fraud, it’s unlikely you’ll be allowed to open a bank account or if you have a poor credit rating it’s likely you will be refused permission to open one.
That said, if you’re bankrupt or have a poor credit rating, you may be able to open a basic bank account.
Ways to set up a new bank account
There are a number of different ways to open a bank account, including in a branch, via the phone or online.
Branch
In a branch is perhaps the traditional favourite. You have to visit the branch and fill in your application and show your id. Many people like the physicality of this option, although perhaps it is becoming less popular as more people become comfortable with dealing with their personal finance matters online.
Phone
Via the phone remains popular, with some banks promoting the fact that you can access a real person 24 hours a day, 365 days a year to assist with you banking matters.
Online
Many people are now setting up their new bank account online – it saves time, you can bank when it suits you and it really is safe and secure.