Online Account Opening FAQs


Q. What is the minimum age requirement to open an account online?

A. You must be 18 years of age or older to open an account online. Accounts cannot be opened on behalf of minors, and minors cannot be added as a joint owner.

Q. Is it safe to open an account online?

A. Yes. Bank of Utah takes the safety and security of both your personal information and your money very seriously. Our security measures protect you throughout the online account opening process, so you can be confident in opening an account online.

Q. How is my identity protected?

A. The first step of the account opening process is for Bank of Utah to validate your identity using two-factor authentication. Two-factor authentication is an extra layer of security that makes sure the person opening an account is who they say they are. First, you’ll be asked for your name, email and phone number. Then, instead of going straight to entering more personal information, you’ll be required to validate yourself by responding to an email confirmation, before the application can proceed.

Q. Do I have to use email for two-factor authentication?

A. Yes, we only allow two-factor authentication via email. Throughout the online application process, email will be our primary mode of communication with you about the status of your application, so we want to make sure we have a working email on file from the beginning.

Q. How does Bank of Utah protect my information?

A. Your online banking connection with Bank of Utah is always encrypted, meaning all of your personal information is secured before it even leaves your computer.

Q. Are there security measures I should have on my own device to be more safe?

A. It’s a good practice to have security measures, such as anti-virus software, installed on your computer to provide added protections. If you’re using your phone or tablet to open an account, it’s also important to make sure your device has the most recent security and software updates.

Q. How does an account opened online or on a smartphone get funded?

A. Bank of Utah provides two ways to fund your new account.

The first is instant account verification (IAV). Using IAV, you’ll be asked to choose the institution you want to fund from and enter your online banking credentials from that institution. This is just like logging into online banking at that institution, only through our portal, which includes all the security that comes with transferring funds from one bank account to another. You’ll be asked to choose the account you want to fund from, and you’ll get to see the amount in that account.

The second option is to use manual entry. Manual entry is a traditional method that requires you to know and manually enter the account and routing number of the account and institution you are pulling the money from.

With both of these funding options, an ACH payment will occur, moving the funds to the new account. Learn more about ACH payments in the next question.

Q. What measures are in place to protect my money as it moves from my existing account to my new account?

A. ACH, automated clearing house, payments are a secure way to directly transfer money between accounts. ACH payments go through a clearinghouse that enforces rules and regulations while keeping account numbers confidential. Because of this, ACH payments are more secure than other forms of payment. Federal law protects consumers from fraud or ACH errors as long as you report any problems to your bank within 60 days.

Q. Why am I asked to fund my account before I know if my account has been approved?

A. Our goal is to make the process as streamlined as possible. We collect all of the key items to open your account upfront, including funding details, so you don’t have to come back. A transfer of funds cannot occur until your Bank of Utah account is successfully opened. If you don’t complete your application, or if your application is denied, a transfer of funds will not be initiated.

Q. How long do I have to complete my new account application?

A. Once you start your application, it is active for 90 days. Please note, though, that if you open an interest-bearing account, the interest rate you receive will be Bank of Utah’s published rate on the day the account is opened, not the day the application was started.

Q. What should I watch out for?

A. There are many safeguards in place to validate your personal information. It is extremely unlikely that a fraudster or scammer would know all of the information required to pose as you and fraudulently open an account, unless you’ve given them that information. Be extremely cautious if someone is asking for access to your bank accounts, email account and personal information, even if they are family members, friends or romantic interests. While we hate to think someone we know and trust may have ill-intentioned ideas for our money, it’s always wise to be vigilant and intentional in what you share and with whom.

For more information on what to watch for to avoid fraud attempts, visit our resource library.

Q. What can I do to be safe online after opening my online account?

A. It’s always important to consider your online safety, from making sure your passwords are strong and unique, to keeping your anti-virus software up to date, to being aware of how criminals use fraudulent emails, texts and phone calls. As a Bank of Utah account holder, please know that Bank of Utah will never email, text or call you to verify your identity or ask for personal information.

To learn more about online safety, visit our financial security page.