Today, you don’t have to bank only at your local brick-and-mortar bank. You can bank just about anywhere that accepts applicants from your state. Opening an account online is typically straightforward – with a quick online application and linking an external account, you can have your online account set up quickly.
This is the case with Union Bank. They offer an online checking account called Priority Checking that you can open and fund online.
Here’s everything you need to know about this account.
The Online Checking Account Application
It takes approximately 10 minutes to open a Union Bank account online and all you need is:
- After you select Priority checking, you’ll need to verify your identity, including your Social Security number and driver’s license number. You’ll also provide the necessary employer information.
- After you enter your private information, Union Bank will ask you individual financial questions. These are questions only you should be able to answer. If you answer them correctly, you’ll move on with the application. If you answer them incorrectly, you won’t be able to move on as they’ll assume it’s identity theft.
After completing the questions, you’ll have your Priority Checking account.
Funding your Checking Account
Once you open your Priority Checking account, you’ll need to fund it. You can do this in one of three ways:
- Link an external account and send the funds over electronically. This is the most immediate way to fund the account. Once you link the accounts, you can quickly transfer funds back and forth.
- Set up direct deposit with your employer. All you need is the bank’s routing number and your new account number. Your employer can then send your paycheck directly to your new Priority Checking account.
- You can write a personal check from another account. With your mobile phone, you can deposit the check right into your Union Bank account by using the Union Bank app.
The Checking Account Features
The Union Bank Priority Checking account has a few requirements. First, know that there’s a $25 monthly service fee. That’s a hefty fee, but they will waive it if you have a combination of $25,000 in Union Bank deposit accounts or you link your account to a Union Bank mortgage.
There is no minimum balance to open the account, but again, that minimum balance requirement makes the account expensive if you don’t meet it.
Union Bank doesn’t charge ATM fees, and they will reimburse you for any bank fees charged if you use a non-network ATM.
The Priority Checking account comes with a debit MasterCard with contactless payment capabilities. This gives you the option to pay with Apple Pay, Google Pay, and Samsung Pay securely.
Union Bank also has a great mobile app that allows you to not only deposit checks, but also check your balances, transfer funds, and conduct other bank transactions right from your mobile phone.
Union Bank Savings Accounts
You can also set up a Regular Saving and Money Market account online with Union Bank. Both accounts are interest-bearing, but you only need $50 to open a savings account and $2,500 to open a money market account.
The Regular Savings account works like your standard savings account. You may only make up to six withdrawals per month, and you earn a small interest rate. There is a $4 monthly fee if your balance is lower than $300. You may also avoid the charge with a deposit of at least $25 per month.
The money market account earns variable interest rates, which are higher than the regular savings accounts rates, and you can write up to six checks a month from the balance. You have to maintain your $2,500 balance if you want to avoid the $9 per month fee with digital statements or a $10 per month fee with paper statements.
If you don’t have a bank account in your area or you’re looking for one with more flexibility, Union Bank offers a variety of options. With the ability to conduct 100% of your banking business online, they make it easy to open a Union Bank account online.
Just make sure you know the requirements and that you can meet them. It wouldn’t make sense to open an account that will cost you more than you’d earn in interest. Once you choose the right account, though, it’s easy to get started.