Opening a current account online is a procedure that many users are looking for. The main reason is the ease and speed that the procedure can offer, especially when we think about making long queues and appointments. What usually happens is that the account pre-opening or limited accounts are confused.
In the past, opening a bank account was a real headache, mainly because of the requirements and procedures. With the information technologies evaluation, many procedures have been simplified to speed up processes and improve customer satisfaction.
Opening a current account online: what usually happens
It is important to understand that a checking account is a service where the owner can deposit funds that can be used later. What happens in many cases to users is that they do not identify what kind of instrument they have. It has caused these accounts to be opened with objectives that they cannot achieve.
The main objective of opening a current account online is to have all the benefits of traditional accounts without having to go to the bank. In many cases, banks avoid offering this kind of service due to the restrictions established by the authorities.
The financial sector is highly regulated to avoid the economy, financial fraud, or money laundering. These are the main reasons why some banks do not offer this kind of tool.
What do I get for an online checking account?
In general terms, the benefits of opening a current account online are:
- Have funds through ATMs, lockers, or checkbooks.
- Domicile payments.
- Domicile income.
- Associate credit or debit cards.
- Hire other products such as loans or mortgages.
- Interest on average monthly balances.
These are the benefits of opening accounts online. Of course, it varies in each financial institution, and in some cases, they may incur administrative expenses.
Banks with the possibility of opening a current account online
We went on a visit to banks in Mexico to collect the following online checking account information. Here is what we found.
Santander lite digital account
Santander lite digital account is an account you can open via the internet in just a few minutes. Request the following as a requirement: valid official identification, cell phone number, and email. Among the benefits of this current account online are:
- International debit card.
- Access to Santander digital banking to manage your funds.
- No commissions per month.
A relevant detail of these accounts is the deposit limits that only allow 20,650.39 MXN per month. In addition, it has an inactivity fee of 9.90 MXN per month. For more information, you can enter here.
HSBC digital account
You can open this account in one of the most prestigious banks in the country from your mobile device. You can receive deposits with a limit of up to 20,000.00 MXN. In addition, the card sends directly to your home and saves on maintenance fees. Among the main requirements are:
- Have your current INE/IFE.
- Be Mexican and be in the national territory.
- Have a mobile device, email, and Internet Access.
- Do not have other products contracted at HSBC.
- Allow access to the geographical location of your mobile device.
HSBC offers plenty of information about its financial instruments and has courses on fund management. It has an application, and you can conduct the procedure from this link.
Agile Scotiabank single account
Under respect, empathy, and inclusion, this bank is offering this tool to the public in Mexico. Among the benefits is the opening and withdrawals at ATMs at no cost. The only requirement is the current INE or IFE.
You can use this card abroad in the company’s ATM network (35,000). Pay credits and the deposit limit per month is 19,000 MXN. If you want to enter and check the accounts opening, you can do it from this link.
Among all the banking institutions that operate in Mexico, only these three offers this kind of digital product. These banks are in the top five of the best banks in the nation for their quality of service and support nationwide. BBVA offers this kind of tool but recently closed the possibility of opening a current account online.
Conclusions about online checking accounts
Today accounts can indeed be opened remotely without the need to physically attend the institutions. Also, this type of account has minimum requirements and has cards or applications that facilitate fund mobilization.
The banks that offer these services have a long history at the national level with a high rate of quality service. However, this class of instruments is limited in terms of use. Its main objective is to attract a young audience or people with specific needs.
To finish, we recommend analyzing the needs you have in terms of the service you want to receive and the variety of options you want to have. In case they do not meet your expectations, you should opt for the opening of a traditional checking account.
