How to Open an Online High Interest Checking Account

A checking account is a necessity for anyone who wants to build a good credit history by establishing themselves on the books and paying their debts off on time. One of the best ways to ensure prompt bill payment is by opening up an online high interest checking account. Not only will you benefit from the efficiency of the online bill payment systems, but if you meet certain minimum deposit amount requirements, you can also earn a small degree of interest on the money. If you are ready to open up an online high interest checking account, although the exact order and steps may differ from bank to bank, there are some steps you should follow :


  • Do your research and check out the offerings of all banks you are interested in using as some banks charge fees for an online high interest checking account while others do not
  • Virtual banks generally have a link button that says “open an account now,” so all you need to do is find that button, click through and you will end up on the proper page
  • When prompted, enter your personal information
  • You must agree to terms and conditions for your virtual bank
  • You will need to electronically link your existing checking account to transfer the balance
  • Make sure to review your information for accuracy and then submit
  • Not applicants will be approved to open an online high interest checking account and may be subject to a credit check to be granted approval
  • Typically accounts need to be verified before they can be used, the process may include sending increments of under $1 between the electronic link between checking accounts and clicking the link provided regarding the transfer
  • There may a hold period put in place for new account deposits

The virtual bank will provide you with easy to follow, step-by-step instructions on how to open an online high interest checking account. Start researching your options now!