Open a bank account totally online

zogg

Hi,

I am looking to open an easy access account for my savings that pays more than the 2.6% I am getting with Scottish Widows.

Are there any accounts that can be opened wholly online. I mean without the hassle of sending proof of identity...utility bills etc etc. It seems to take forever to open some accounts.

Looking to open an account online and transfer balance from SW into new account.

Can it be done ?

Thanks.

SecLender

I've opened lots of savings accounts online over the past few years and have only been asked for proof of identity once (from ICICI). I just emailed them and said I didn't want to proceed with the application and found another bank.

AA was the most recent.

PasturesNew

I think I got my FirstSave one without proof. I've got loads of half opened accounts lying around because they wanted proof and sent a letter ... and I wanted an account "now", so by the time the letter arrived I wasn't in the account opening mood any more, so it never got done

Also try Principality. I'm sure I got that one online. And Sainsburys.

oldagetraveller

Northern Rock eSaver 5 if you've more than £1000 to deposit.

zogg

oldagetraveller wrote: »

Northern Rock eSaver 5 if you've more than £1000 to deposit.

That is the one I was thinking of !!!

Can you do it totally online ?

Thanks.

ChiefGrasscutter

If you fail the electronic ID checks with one savings group....then it is likely that most of the others will also fail you - after all they do all use the same credit reference agencies as part of their ID checking proceedure.

I should know- I'm rejected every time for the electronic check - I think might be something to do with being ex-directory so the electronic phone lookup for the number I give on the application fails.

The exception obviously is if you already have some accounts open with the savings groups in question and they will use the exisiting ID for the new account - though they are not bound so to do and could request documents to confirm your ID.

Frankly anyone demanding to open an account online only and not wanting to have to provide documents is likely to raise suspicion rather than anything else.

Actually I found Principality the most awkward in respect of what hard copy/certified documents were acceptable to them. I recall a Inland Revenue PAYE notice was acceptable as a document but an Inland Revenue letter about your self assessment return was not - great if you have a PAYE type job - not if you don't.

barak

zogg wrote: »

.....Are there any accounts that can be opened wholly online. I mean without the hassle of sending proof of identity...utility bills etc etc....

It doesn't just depend on which account you are opening.

As ChiefGrasscutter says it also depends on whether you "pass" the electronic ID checks, which will relate to your own unique "profile" - so there really isn't a simple answer to your question.

For most accounts, some people will be asked for documents and some won't.

SimonM_2

Does "opening an account, being asked to send ID and not sending it" ever get recorded against you, such on your credit records? Presumably if you don't provide the ID then they decline the account, and I think that's then recorded as being declined which other banks could then see, or...?

cing0

Post office fits the bill as electronic verification is used and the setting up of a direct debit. However, you have to post them a completed signature form and current rate is only 2.6%.

For better rates, try Santander and Halifax.
I've opened Santander savings and current accounts online without a signature or ID. Also Halifax but they usually require your signature like the post office.

ChiefGrasscutter

SimonM wrote: »

Does "opening an account, being asked to send ID and not sending it" ever get recorded against you, such on your credit records? Presumably if you don't provide the ID then they decline the account, and I think that's then recorded as being declined which other banks could then see, or...?

I believe that when you open an account with a new (to you) savings group there is a note to say an ID check was performed at the credit reference agencies but nothing else. I think these are listed as an "unrecorded enquiry" on the file.
I also believe that such "ID check" records only stay on the file for a year. The same applies to ID checks done as part of quotation only proceedure for say car insurance: for which very many may be done if yr shopping around for quotes.

These 'ID checks' do not affect your credit rating, nor do lenders or other ID checking organisations see it when they check your record.
Nor does any organsiation checking soley for ID get to see any data on your credit history so I'm told.

You will see these ID checks listed (within the last year only) when you ask to see your own credit record.

Stubod

Hi There,

...I recently opened the Northern Rock account fully online, (my first time)...was quite easy...no problems and seems to work a treat.

Stu