Easy and quick: here are two adjectives frequently used by online banks to designate the request to open a bank account with them. In fact, a few minutes are generally enough to initiate the subscription. This does not mean that the desired bank account is immediately operational. What are the real deadlines for opening an account?
Your decision is made, you open an account in an online bank. Moderate rates, customer service accessible in the evenings and weekends, competitive savings products: the advantages of banks without branches have finally convinced you to try the adventure. But which bank to choose? Among the criteria you can consider are the simplicity and speed of opening accounts. MoneyVox takes stock.
Shortened deadlines thanks to mobile applications
Simplicity and speed: this is the case at Fortuneo, as part of its Fosfo offer. You can, in fact, benefit from theimmediate opening of your bank account thanks to the “selfie video” system. Everything happens via the mobile application, from providing proof of identity and personal information until the actual signing of the contract. Once the account opening is confirmed, you receive your payment methods within 2 to 10 working days. Also note that Fortuneo does not require a minimum payment for subscribing to Fosfo via the application. Regarding other online banking offers (Gold Mastercard, Mastercard World Elite), no immediate response: you have to count on average 3 weeks between receipt of the complete file and the actual opening of your bank account. A transfer of 300 euros is also requested to validate the operation.
Boursorama Banque also allows you to open an account very quickly, from its mobile application, thanks to the use of selfie video. Then count one week to have a fully operational account. The online bank announces an initial period of approximately 5 working days to analyze the file. An email is then sent, mentioning the RIB number, as well as the identifiers necessary for connection. Then you are invited to carry out the first transfer required validation of the account, namely 300 euros (50 euros for the Welcome offer). Once the funds are received, the account is opened. The bank card is then sent within 5 working days after activation of the bank account. In the meantime, you can already start paying for in-store purchases using the contactless mobile payment Apple Pay or Google Pay.
Like its competitors, Monabanq allows its customers to obtain a bank account quickly. After checking the supporting documents provided in digital version, via the internet, the online bank will send you an email with an account number, to which to make the transfer of 50 euros necessary to complete the opening. Then, with this first payment validated, you receive the RIB of your account and your connection identifier. But we still have to wait 5 working days on average to obtain, in separate letters, your connection code, your bank card and your secret code.
Steps to open an account in an online bank
Deadlines not communicated in certain online banks
Some online banks remain silent as to the actual deadline for opening a bank account. This is particularly the case for Hello bank!, which indicates that the account will be activated within a few daysafter compliance with certain steps, such as the submission of supporting documents or the transfer necessary for effective opening (10 euros).
The same goes for BforBank, a subsidiary of Crdit Agricole. It does not display on its site a fixed deadline for opening a bank account apart from this mention: The opening of an account can be done in a few minutes subject to validation of the information transmitted.
Online banking: comparison of offers
And for traditional banks, does it really take longer?
Traditional banks almost all follow the same pattern: opening an account in a branch, by appointment, with an advisor. This can extend the time it takes to open the current account, since you will have to find a slot where you and the advisor are available. But the advantage of a physical opening is that the advisor immediately checks the supporting documents and you can make the initial payment during the appointment.
Some traditional banks also offer the opening of a bank account remotely, via their website or their mobile application, like online banks. Like Socit Générale which, in terms of deadlines, announces only a few days to finalize the operation and assures on its site that the electronic method has the effect of reducing the time taken to open the account.
Comparison of online offers from traditional banks