Step by Step Application Process
Step 1: Personal Details
- All mandatory fields have a red asterix and the address can be matched using the ‘Find Your Address’ button.
- The 2nd page includes preferred contact methods and marketing opt in/out preferences.
- Accounts can be in joint or single names.
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Step 2: Personal Details
- The customer must create a password to access the account.
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Step 3: Interest Options
- The customer is given the option to choose the method and frequency of account interest payment.
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Step 4: Account Setup
- The customer is asked to nominate a bank account where he or she can transfer money to and from.
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Step 5: Confirm Details
- The customer is invited to check all information entered prior to proceeding with the account opening.
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Step 6: Declaration
- The system calls Experian data, which will then electronically I.D. verify the applicant. This 'auto-ID’ is successful in around 80% of applications.
- The minority of applicants who fail the process will be advised of that and asked to send in documents in the traditional way.
- The declaration replaces the need for a manual signature.
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Step 7: Make a deposit
- The customer receives notification of both the account number and customer number with the option to instantly add funds via a debit card to the new account or arrange to transfer funds immediately.
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