Why should I open my account online?

Updated 1 week ago by Carina Wetzlhütter

Opening a bank account usually requires a lot of paper contract back and forth. Without online verification, opening a bank account for an online service still requires you to walk into a post office, where they identify the validity of your passport or identity card.

You can open your Selma account without all that "offline hassle" though ;)

Why is it more convenient to open an account online through a video chat?

  1. Get contracts in advance
    You will have no stress in reviewing your contracts. Once you advance in the account opening process, the contracts are prepared for you - you can even download them in order to go through them in piece.
  2. No errands to the post office
    From there it only takes minutes to open your account and activate it - instead of more than a week (given that you make it to the post office in time). Remember: contracts paperwork!
  3. It is safe
    IDnow, who is our partner for this professional and secure KYC (Know-your-customer) process, also provides banks like UBS, Erste Bank and N26 with their regulated and tested online verification and electronic document signing options. Your data is always safe with us as we also only choose high-quality partners to work with.
  4. 2. No extra costs!
    Opening a bank account the old-fashioned way requires paperwork which can lead to extra costs such as a “Postident” process to verify your ID at the post office, which usually costs around 20 CHF. Opening an account online is always free.
  5. Start investing right away
    You get to do everything from your laptop or your phone - no need to wait for more than a week and log in later again. If you decide to invest now, you will be able to invest now! 😊


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