Frequently Asked Questions
Apply for a Bank Account FAQs
How long will it take to complete the application?
The application process takes just a few minutes. To expedite the process, please have the following information handy:
- Social Security number for all applicants
- Driver’s license or state issued ID for all applicants
- Email address
- Name, date of birth and Social Security number for all beneficiaries, if applicable
- If funding your new account using an existing account at another bank: 1) your debit card or 2) your account number, routing number and online banking credentials
Can I open more than one account at a time?
Yes, you can open multiple accounts at once. Simply select the additional offering when presented and each account will be funded according to the method you select.
Is this online application secure?
Yes, we maintain strict security standards and procedures to prevent unauthorized access to your information. Our online application uses 256-bit encryption for the transmission of data entered into our online forms via your web browser and our web server, which provides the highest level of protection from tampering and eavesdropping.
Which web browser should I use?
We recommend using Chrome, Edge or Safari to access the application. Internet Explorer is not supported.
What do I need to know to advance through the application process?
Most pages will have a button located at the bottom of the page that will click through to the next page. In some instances, you may be presented with a disclosure that you will be prompted to accept before you can advance to the next page.
PLEASE NOTE: If you have to make a change on a previous page, you will need to start over; however, the application process is easy and will take just a few minutes to complete.
Why are certain pieces of information required to complete the application?
The information we collect is required to process the application, to service the account once it is opened and to comply with federal laws and regulations.
Specifically, your Social Security number is required to: 1) help verify your identity; and 2) if the account is interest bearing, interest earned on the account will be reported to the IRS under your Social Security number.
How can I make my opening deposit?
You may choose to fund your account using: 1) an existing Luther Burbank account or debit card; or 2) another bank account or debit card. Incoming funds from another bank will be received in your account via an Automated Clearing House (ACH) transaction.
How long will it take to fund my account?
We anticipate your account will be funded within three (3) business days.
I attempted to fund the account via ACH, and it did not work. What happened?
Not all banks participate in real-time ACH verification. If your funding did not work, you may choose instead to use your debit card to fund the account, or call us for assistance at 888.578.4495, Monday – Friday, 9am to 5pm (PT).
If I am interrupted before completing the application, how much time will I have before the session expires?
Your session will time out if there is no activity within the application screen for 15 minutes. The session timing out will cancel your application. To open an account, a new application must be started from the beginning.
What if I accidentally close my browser before completing the application process?
Partial applications are not saved. You will need to start a new application from the beginning.
What if I need assistance with completing my online application?
If you need help, please call us at 888-578-4495, Monday – Friday, 9am to 5pm (PT); or email us at firstname.lastname@example.org, and a member of our Online Banking team will contact you to assist during business hours. For security and privacy reasons, please do not include any personal or financial information in your email such as a Social Security number, username, password, account number(s), or debit/credit card number(s).
How will I know when my account has been opened?
Application details will be provided at the end of the application process. If your account has been opened, you will also receive an email with your account details. If we are unable to fund your account, we will contact you to resolve the matter within three (3) business days. If you have questions or concerns regarding your application, call us at 888-578-4495, Monday – Friday, 9am to 5pm (PT), or email us at email@example.com.
Can I enroll in online or mobile banking during the application process?
Once you have completed the application process, a link on the screen will prompt you to enroll. Additionally, you will receive an email from us that will confirm your account was opened and provide you with links to enroll in Online Banking and to download the mobile app.
How can I order a debit card or checks?
During the application process, you will be prompted to choose if you would like to receive a debit card and/or checks. Once the application has been completed and your account has been opened, your selected items will be mailed to you at the address provided in your application.