How to Open a Checking Account Online With a Credit Card
For many people, convenience is the number one factor used to determine what financial institution they choose to do business with. Because of this, banks are constantly searching for new ways to simplify the account-opening process. The ability to open a checking account online is one innovation meant to appeal to convenience-minded consumers. Some banks have made it even easier by allowing customers to fund their accounts with credit cards rather than another checking account, making it possible for people who have never before had an account to participate in opening an account online.
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Instructions
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Compare banks to determine where to open your account. Not every bank allows customers to use credit cards to fund new accounts online, and those that do offer a variety of options that appeal to different types of customers.
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Select which credit card will be used to fund the account. It is best to choose a credit card with a low APR or finance charge, and some banks will not accept Discover or American Express for account funding.
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Decide if the account will be an individual or joint account. For a joint account, either owner may transact business or close the account without the other's knowledge or permission.
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Gather identifying information for everyone who will be listed on the account. This includes full names, physical addresses, social security numbers, dates of birth and driver's license numbers.
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Be prepared to select a username and password, as well as to provide a telephone number and email address. Some banks require a combination of these types of information in addition to identification information.
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Navigate to the website of the bank of choice and locate the area to open a new account. Follow the instructions on the screen and provide all required information.
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Enter the credit card information when prompted. The bank will most likely ask for the 16-digit account number, expiration date and the 3-digit security code found on the back of the card.
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Read and understand all account disclosures and terms of agreement. Print them for your records.
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Tips & Warnings
Be sure to review your monthly statements for fraudulent activity even if they are delivered online.
