Smart Bank 2020: How does opening an account work online and which banks offer this option?

The sixth year of the survey on the best banking applications in Slovakia – Smart Banka 2020 – is currently underway on the smartbanka.sk website. Voting takes place from 19 January 2021 to 28 February 2021. Based on the votes cast, we evaluate the best banking applications according to their functions and features that individual banks offer to their clients.

Of course, smart features also include the ability to open an account online without the client having to go anywhere. It’s convenient and fast. This option is increasingly sought after. We found out how it is with individual banks. We asked them 4 basic questions:

• How can I open an account in your bank as easily as possible (online, via the app)?
• Is it possible to open an account completely online? Is it necessary to sign, fill in some papers and send them somewhere?
• Can a completely new client open an account with you in this way, or does only your client who wants another product (account) have this option?
• Can only a natural person open an account with you in this way, or is the service also available to legal entities?

Payout, general partner of the Smart Bank 2020 survey

How can I open a Payout Payment Account as easily as possible?

We can verify each client online from the comfort of home – so there is no need for a personal meeting, which means a waste of time and health risk. Simple and fast online authentication is realized by a secure encrypted connection to the company’s interface. All you need is an identity card and a computer with a camera.

The verification consists of two parts – the first is the scanning of an identity card from both sides. The client does not have to take photos, the software will do it automatically for him. All you have to do is place your OP in front of the computer’s camera and follow simple instructions. After capturing the OP, it is time to capture the face. We verify the conformity of the scanned face with the inserted OP. That is all. The whole verification process is quick and easy.

Is it necessary to fill in, sign and send any documents?

No, as we mentioned, an account can be set up fully online. We accept the signing of the contract through kvalified electronic signature. The client will provide us with basic information about the company, on the basis of which we will prepare a draft contract. If necessary, we navigate the client how to sign a contract through kvalified electronic signature.

Can a brand new client set up an account with you so quickly?

At Payout, we do not differentiate between a new client or an existing client who is interested in expanding the services used, such as payment initialization services or payment account information services. We can also verify a new client online and in a few minutes.

Is the Payout payment account only available for businesses?

Yes. From the beginning, the Payout payment account was designed and engineered for online payments for goods and services. Payment functionalities, the possibility of connecting to various software via APIs and a high degree of automation have the main added value for entrepreneurs, whether they are natural or legal persons. For online payments, it is equivalent to a bank payment account and will fully replace it.

mBank

How can I open an account in your bank as easily as possible (online, via the app)?

mKonto can be set up very easily and quickly via the mBank mobile application. The client application will perform the individual steps and will inform them about everything. The whole process is completely digital, including automated verification of ID card data.

Is it possible to open an account completely online? Is it necessary to sign, fill in some papers and send them somewhere?

When opening an account, clients must have their ID card at hand. When opening an account, our future clients no longer have to sign the contract only in person at the branch or through a courier. They solve everything with the help of an application that they install on their smartphone.

Can a completely new client also open an account with you in this way, or does only your client who wants another product (account) have this option?

mBank offers the possibility to open an mKonto account very easily and quickly via the mBank mobile application to all clients, including new.

Can only a natural person open an account with you in this way, or is the service also available to legal entities?

At present, the opening of a current account via a mobile phone, resp. mBank mobile application available only to retail clients.

Petr Žabža, mBank’s director of new clients, answered the questions.

ČSOB

How can I open an account in your bank as easily as possible (online, via the app)?

Our clients can easily set up an account online via the SmartBanking application or in the Moja ČSOB internet banking. For new clients, we have prepared an online account setup through our website www.csob.sk. It is currently a pilot phase of the project, and therefore we welcome any observations and suggestions from clients

Is it possible to open an account completely online? Is it necessary to sign, fill in some papers and send them somewhere?

The client can set it up completely online, without the need for a personal visit to the branch or signing paper documentation

Can a completely new client open an account with you in this way, or does only your client who wants another product (account) have this option?

Even a completely new client can set up an account online using a new way of verifying the client, all you need is a functional camera to capture the face and identity card.

Can only a natural person open an account with you in this way, or is the service also available to legal entities?

Currently, this option is available to clients from the retail segment over the age of 18.

SLSP

How can I open an account in your bank as easily as possible (online, via the app)?

Opening an account online is very easy, all you need is an identity card and a mobile phone, the average time to open an account is 9 minutes. In the first step, you need to download George from the store and enter your contact information. Then, for identification, take a photo of your ID card and take a selfie. One then just does a liveness test – by watching the green bullet on the screen and checking the data that George pre-filled from his papers. Finally, the registration and approval of the contract will take place.

If the client opens an account online, he currently gets it for free for the whole year, in addition, he can also receive a reward of up to 60 euros.

Is it possible to open an account completely online? Is it necessary to sign, fill in some papers and send them somewhere?

Opening accounts at George is a fully digital process, without any paperwork, documents, signing a courier contract or sending a penny from another bank. The client will find the contract directly in the application, in the document repository.

Can a completely new client open an account with you in this way, or does only your client who wants another product (account) have this option?

Non-clients can also open an account online through George.

Can only a natural person open an account with you in this way, or is the service also available to legal entities?

For the time being, only a natural person can set up an online account via George online.

Marta Cesnaková, a spokeswoman for Slovenská sporiteľňa, answered the questions.

Banka wire

How can I open an account in your bank as easily as possible (online, via the app)?

New clients can create an account easily via the online form on our website. We are also preparing to create an account directly via the mobile application.

Is it possible to open an account completely online? Is it necessary to sign, fill in some papers and send them somewhere?

Yes, the account can be set up completely online. We also offer a “semi-online” alternative, such as setting up with a courier, where the client fills in everything online and the courier brings him contracts, which he signs and sends back.

Can a completely new client also open an account with you in this way, or does only your client who wants another product (account) have this option?

New clients create accounts using the online form. Our current clients can open other current or savings accounts directly in internet banking, so they don’t have to go anywhere.

Can only a natural person open an account with you in this way, or is the service also available to legal entities?

Online creation of a new client is possible only for natural persons who open a current account. To open a business account, it is necessary to come to the branch.

UniCredit Bank

“We are working on it and we will announce the date and details in a short time.”

Zuzana Ďuďáková, spokesperson for UniCredit Bank

Tatra Bank

From the information available on the bank’s website, we found that opening an account online is possible via the application. The bank states on its website that the account can be opened even if you are “not a client”.

When creating an account, it will be necessary to have an identity card with you, which the client will scan with his smartphone. Subsequently, facial biometrics will be used to verify the client. Opening a digital account is possible completely through the application without having to go anywhere. The client reads and verifies the contract directly in the application.

Last year, only new clients could open an account this way. We did not find out from the bank’s website whether this form is currently available for existing clients as well.

OTP bank

The bank states on its website that opening an account is possible via internet banking. This option should also be available through the application. The account can be opened completely online, there is no need to go anywhere.

We did not find out from the bank’s website whether a new client could open an account in this way. Last year, it was possible to open an account online only for existing clients.

365.bank

How can I open an account in your bank as easily as possible (online, via the app)?

At 365.bank, clients can open an account via a mobile application, ie. from the comfort of home and without the need to go anywhere or meet a courier. They will only need their ID card, which they will prefot from both sides, we send them contracts electronically and sign them directly in the app by holding down the button for 3 seconds. Finally, he will connect with our operator via video call.

Is it possible to open an account completely online? Is it necessary to sign, fill in some papers and send them somewhere?

Yes, the whole process takes place in a mobile application, the client manages everything in a few clicks and can use his account to the full within 10 minutes. No paper contract documentation, no branch, no courier. All he needs is his smartphone.

Can a completely new client open an account with you in this way, or does only your client who wants another product (account) have this option?

A completely new client can also open an account via smartphone on the 365th bank.

Can only a natural person open an account with you in this way, or is the service also available to legal entities?

We currently provide a current account to individuals.

VÚB bank

How can I open an account in your bank as easily as possible (online, via the app)?

An account can be opened online in a few simple steps via our application. Along with the current account, we automatically set up a savings account and a debit payment card for the client as part of the package free of charge.

Is it possible to open an account completely online? Is it necessary to sign, fill in some papers and send them somewhere?

The opening of the account is completely online, the signing of the contract also takes place electronically using the Client’s Mobile PIN. The client then has the contractual documents available directly in the application.

Can a completely new client open an account with you in this way, or does only your client who wants another product (account) have this option?

A completely new client can also open an account with us, via our website.

Can only a natural person open an account with you in this way, or is the service also available to legal entities?

The service is only available to individuals.

Poštová banka, Prima banka and Raiffesien do not offer the possibility to open an account online.