Opening an account

Once you've decided which type of account you want to open, you will usually be asked to:

• fill in an application form;
• provide proof of identity - you need to prove who you are and where you live (see below); and
• pay some money into your account (however, some banks let you do this later).

Proof of identity

The law requires financial services firms such as banks to identify their new customers. We do not set the rules on how firms should check identity - in most cases, firms will follow guidance produced by the independent industry body, the Joint Money Laundering Steering Group. This guidance sets out three options for firms asking new customers to prove their identity. See below.

Some firms will check databases such as the electoral roll and those kept by credit agencies. But most will ask you for documents. If you're asked for documents, the JMLSG Guidance sets out the following options:

Option 1. A passport or photo-card driving licence; or combinations of certain official documents such as an old-style full UK driving licence plus a council tax letter or statement.

Option 2. If you don't have these documents, a bank or other financial firm may be willing to accept certain documents relating to your particular circumstances, such as a:

• letter from a government department or local authority confirming a right to State benefits;
• suitable confirmation of identity from a young person's workplace or educational institution; or
• letter confirming a person's identity from a care-home manager or warden of sheltered accommodation or a refuge.

Further options are available for groups such as international students, migrant workers, refugees, asylum seekers, prisoners and those on probation. Details of these options are available in the JMLSG Guidance.

Option 3. If you don't have any of the documents required, a firm may be willing to accept a letter confirming your identity from an 'appropriate person' who knows you, such as a social worker, doctor or teacher, indicating that you are who you say you are.

For more information about identity checks get a free copy of our Proving your identity booklet. You can download or order it online – see Publications

Which one is right for you?

There are so many banks, building societies and different types of accounts that it can be difficult to work out which one is right for you. A good starting point is to think about how important different features are to you. Would you prefer to talk to your bank face to face in your local branch? Or would you prefer to do everything by telephone or over the internet?

Here's a list of things to consider. Print off this checklist and tick the features you want for easy reference.