Bank Account Video KYC: Know How To Open Savings Account Online | Step-By-Step Guide

The video KYC facility will do away with the need for a personal visit to any bank branch to complete the physical verification process

KYC | Representative Image

New Delhi: With an aim to improve end-user experience, several banks have gone ahead to launch the video KYC facility for the ease of opening saving bank accounts. The facility can be accessed on completion of the Know Your Customer (KYC) process through video mode, allowing an applicant to open an account from anywhere by incorporating a Video-based Customer Identification Process

The particular facility will do away with the need for a personal visit to any bank branch for the completion of the physical verification process.

It will simplify the subsequent steps and help in delivering the Cheque book/ATM Card to the registered address of the customers.

How To Avail Video KYC?

In order to avail of the Video KYC facility, you need to have a valid mobile number, e-mail id, PAN Card, Aadhaar number (linked with mobile number/email), and access to a computer or mobile device with a camera and microphone facility along with an Internet connection.

The process will authenticate the applicant’s credentials from multiple sources including bank representative-initiated video calls, information from UIDAI, NSDL, and OTP for registration of mobile numbers.

You need to allow camera, microphone, and location access.

In the next step, the applicant needs to allow the bank official click photograph, verify the original PAN, and take the signature once connected.

On successful completion of Video KYC, the account will be automatically opened.

After this you can then proceed to deposit the minimum balance through offline or online mode and transact seamlessly using their ATM Card and Net/ Mobile Banking after completing the initiation procedures.

Indian Bank has become the latest public sector bank to formally launch the video KYC facility.