Compare Banks runs you through how to open an online bank account in 2023.
How to Open a UK Bank Account in 2023

Written By
Matt Crabtree

Edited By
Jason Mountford
If you currently have a current or savings account, you might benefit by moving to an online bank. Compared to going into a bank branch, opening an account online only takes 10 minutes.
Find out below what to expect when opening an online bank account.
Benefits of opening an online bank account — At a Glance: Pros and Cons
Pros
✔️ Avoid waiting in long bank lines.
✔️ Forms can be completed in a short amount of time.
✔️ Average time is around 10 minutes.
✔️ Your debit card will be sent to you.
Cons
❌️ You may need to visit a branch if you have no banking history.
❌️ To finish your application at a local bank, you may need to bring in other documentation, such as a work visa or student ID, in addition to your passport.
Opening an online bank account — Steps
If you are under the age of 18, you must have a parent or legal guardian co-sign your bank account application. (In that case, to open this sort of account with a bank, you often need to visit a physical location.)
Some UK banks still allow non-residents to establish accounts, although they must meet stricter requirements.
Step 1: Finding the best account is the first step.
Try other banks to see which one works best for you. Think about things like monthly costs, cash withdrawal fees, and whether or not the account will waive fees if you make direct deposits, as well as the kind of card, minimum balance requirements for savings accounts, and whether or not you can bank online or through an app.
Step 2: Determine if you want a joint or individual current account.
When you establish a single account, no one else will have access to the funds inside except you. The opposite is true with a joint bank account, in which you and another person (often a family member, significant other, or business partner) have equal ownership.
The funds in the account are available for both parties to utilise at their discretion.
Step 3: Submit an online account application.
Go to the website of your chosen account provider, where you may complete a safe and secure online application. Name, age, home address, and National Insurance number are all required bits of information that will help them get to know you better. Because the application site will terminate automatically after a certain amount of inactivity, you should have all of this data ready before you begin.
When you apply for a bank account online, the bank or credit union will send you further instructions through email. You should get this email from the bank within a few minutes after submitting the application. Instructions on how to authenticate your identity may be included with it or required beforehand.
Step 4: Authentication.
A valid government-issued photo ID is required for account creation. While some financial institutions may insist on seeing your ID in person, the vast majority will accept a photo taken with your smartphone. You may be able to skip this if you are already a client of the bank.
Step 5: Put money in the bank.
For most online bank accounts, you'll need a debit card or the account number and sort code for an existing bank account to make an initial deposit.
Step 6: Get your debit card.
After you've been accepted, you'll get a debit card in the mail if you requested one; the email confirming your account will tell you when to expect it. Your debit card and PIN will arrive in separate packages for your safety. In order to make withdrawals after receiving your card, you must sign the back and activate it. This is easily done over the phone or internet.
Step 7: Getting started.
Your account is now activated. You'll have full access to your account, including the ability to fund it and withdraw funds. In order to complete the setup:
✔️ Set up your banking online. You may check your balance, transfer funds, and pay bills, all from the convenience of your mobile device, laptop, or tablet. To begin setting up your online banking, download the app offered by your account provider and follow the on-screen instructions.
✔️ Changing your automatic payments and debits is a must. Whether you just opened a current account, you'll need to determine whether you want to change all of your recurring bills to go via the new account. If that's the case, go into your current accounts and update your payment details there.
What do I need to get started with an electronic bank account?
- Identification documents
- Personal details
- Minimum deposit
In all, it shouldn't take more than 10 minutes for this. Most accounts have online applications if you're above the age of 18. A list of everything you need to bring with you when you apply will be given to you.
If you already have an account with the bank, you'll need to provide your customer ID or account number.
Identification
Banks require ID to help prevent fraud and meet government anti-money laundering regulations. They have to check your identification to make sure you're the one opening the account and not some imposter.
Personal details
Confirm your personal details. The majority of financial institutions let you open a joint account with another person. In order to open a joint account, each account holder must present identification and evidence of residence.
Deposit
You may be able to create a bank account online with no initial deposit at certain financial organisations. Greater interest rates and more perks usually come with greater minimum deposit requirements.
Opening an online bank account: The Verdict
You can create a current or savings account in a matter of minutes via your computer or smartphone.
But don't allow the ease of making a quick choice fool you. Before opening an account, it's a good idea to do some research and find out which features are most important to you, such as the ability to integrate with accounting software.
See how to save money in 2023.
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Open an online bank account — FAQs
Where do I go to activate my card and account?
Your card may be activated either online or by phone. In most cases, the principal cardholder must activate the card before any other cardholders may do so.
Where can I locate my monthly bank statement?
Once your account is set up, monthly paper statements will be mailed to you automatically. If you’d prefer not to get paper statements, you may sign up for electronic delivery by contacting your service provider or visiting their website.
To what extent is it possible to create a bank account just over the internet?
Challenger banks, which operate only online, have seen a surge in popularity in recent years. Monzo is an example of an online-only bank; the company does not have any physical locations. Online-only banks often allow account opening through their mobile banking app or website.
You’ll need to provide identification and proof of residence so they can check your information. To verify your identity, some online banks may ask you to film a video of yourself or send in supporting documentation.
Can an individual outside the United Kingdom create a bank account online?
That might be the case, however it would depend on the financial institution and your status as a UK citizen or resident. Get in touch with the financial institution of your choice via phone.
If I already have a current account, how can I change over?
The new bank will take care of everything necessary to make the transition from your old account to your new one. Just let the new bank know when you sign up that you want to transfer your existing account over. Changing banks might help you obtain the best possible service for your money. The best approach to discover what else is out there, even if you’re content with your current bank account, is to compare options online.
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