Opening a Bank Account without visiting the Bank in Jordan

Jun 16, 2021 by AmwalCom

According to Chris Skinner, one of the most influential people in financial technology "ignoring the technological changes in the existing financial systems are like having the mouse starving after moving the piece of cheese away from him."

According to that, we can conclude that banks and financial institutions should follow and embed the technological advancements into their systems, or else they will be left behind. For instance, what is called “The Neobank” is a new type of bank that works solely on the internet with no physical branches to visit. This is where you can complete all your banking needs on the internet.

There is no Neobank for now in Jordan focusing completely on the online services. However, few banks have added some digital banking services including the newly developed banking applications in Jordan that help you complete few banking processes without the need to visit any of the branches. One of the most digital services made in Jordan was the ability to open a bank account online through a few of the banks’ applications without the need to visit their branches.

There are four banking applications for five banks in Jordan through which you can open a bank account without visiting any of the branches. These are:

The Arab Bank
Bank Al Etihad
Bank of Jordan
Ahli Bank
Capital Bank

We will present to you the benefits and caveats of opening the bank account through each of these applications but first let’s make sure you are aware of the below points when opening a bank account online:

• You have to have a Jordanian nationality
  
• You have to download the bank application on your cell phone and choose “a new user” as this service is only available to new users
  
• You have to enter your personal information like name, mobile number, email as a first step, and wait to get an OTP to verify the number
  
• All applications ask you to upload or scan your ID on the cell phone
  
• All applications ask you to take a selfie of yourself on the application
  
• As proof of your accommodation in Jordan, you have to upload a water/electricity bill or a rent contract
  
• After verifying all of the above information from the bank, the account will be activated and an ATM/debit card will be sent to your location (free delivery)
  
• After that, you can use the bank application with all its features
  
• Once the bank account is open, you can only withdraw money through the ATM machines (Not the branches)
  
• You cannot open a new bank account through the application if you are a client of the bank
  

Below we present to you the benefits and caveats of each of the three banking applications:

The Arab Bank

Benefits

• 50 Arabi points gained through Arabi Mobile on the first use of your ATM/debit card
• You can select the branch you would like to work with
  
• The application helps you choose the best program for your needs based on the entered information
  
• You can issue a prepaid internet card with no fees to buy online or to use on your Arabi MobiCash application
  

Caveats

• A maximum balance of 700 JDs for public sector employees and Shabab program
• A maximum balance of 5000 JDs for private-sector employees
  
• If the amount exceeds any of the above, you would need to visit the branch to get the needed signatures
  
• A minimum balance of 100 JDs (else, a fee will be deducted)
  
• The application will ask for an income proof
  
• There is a 0.5 JDs monthly fee on the ATM card
  
• You cannot use the virtual card issued to withdraw money from the ATM
  

Bank Al Etihad

Benefits

• No minimum balance is needed in the account
• The account opened will qualify you for the regular prizes on the saving account if you choose “Tharaa account” from the application
  
• No monthly fee on the ATM card issued
  
• No salary transfers fees
  
• No fees on inward transfers
  
• No fees on 2 monthly ATM withdrawals through any ATM in Jordan
  

Caveats

• A maximum balance of 7000 JDs
• If the amount exceeds 7000 JDs, you would need to visit the branch to get the needed signatures
  
• The application asks you to upload a video of you mentioning your full name of 4 sections
  
• The application asks you to identify your location
  

Bank of Jordan

Benefits

• No ceiling for the account
• The account opened will qualify you for the regular prizes on the saving accounts
  

Caveats

• After sending the ID and the personal photo, you will receive a call from the bank to verify all information and you will be asked to send an ID one more time in addition to a bill with your name
• A minimum balance of 100 JDs (else, a fee will be deducted)
  
• There is a 0.5 JDs monthly fee on the ATM card

Ahli Bank

Benefits

• No ceiling for the account
• No minimum balance is needed in the account
• You can withdraw cash from any Ahli Bank branch or ATM without commissions
  
• Your signature will be asserted through (AnaMeen) App. Therefore, you will not be asked to visit the branch, regardless of the amounts to be transferred or received
  
• The account can be opened for non-resident Jordanians
• You can select the branch you would like to work with

Caveats

• You must enter your personal information and upload personal documents via the (AnaMeen) application
• You must send your signature photographed on the (AnaMeen) application
  
• There will be a video call with an employee of the bank
  
• After activating the (AnaMeen) account, you must enter the Bank's website and request to open a new account
  
• After activating the account, you must download the Bank application to be able to use the account
  
• A minimum balance of 100 JDs (else, a fee will be deducted)
• There is a 0.5 JDs monthly fee on the ATM card

Capital Bank

Benefits

• Opening the electronic account through the WhatsApp application by adding the bank number to WhatsApp (065100220) and starting the conversation with the chatbot
• To start the conversation, type “Hello” or “Main Menu” and choose the first option “Open an account online.”
  
• After completing the conversation on WhatsApp, you will choose a username and password to access the Capital Bank application
  
• The account can be opened for non-resident Jordanians
  
• No minimum balance is needed in the account
• There are no account management commissions or salary transfer commission
  
• No monthly fee on the ATM card issued
• The debit card enables you to make 3 free withdrawals per month from any ATM in the world
  
• The account opened will qualify you for the regular prizes on the saving account if you choose “Golden Road account”
  

Caveats

• A maximum balance of 5000 JDs
• If the amount exceeds 5000 JDs, you would need to visit the branch to get the needed signatures
• The maximum monthly withdrawal limit is 5,000 JDs for resident Jordanians and 3,000 JDs for non-resident Jordanians

Finally, we can say that Jordan is moving towards digital transformation. Despite the fact that Jordan is behind in comparison with the advanced countries, it is only a matter of time until we see the first Neobank in Jordan.