One can also open SBI Insta Plus Savings Account through Video KYC.
Leading public and private sector banks offer Video KYC facility for opening bank accounts.
Know Your Customer (KYC) process in a bank comes under mandatory procedures, which are used by financial institutions to verify the identity of the customer.
With the digital transformation and latest innovations in the financial and banking sector, the Reserve Bank of India Regulated entities including banks have also been permitted to complete KYC verification through video call.
Leading public and private sector banks offer Video KYC facility for opening bank accounts.
In Bank of Baroda, the video KYC account opening process can be availed from the website using a mobile phone, L-pad, laptop or personal computer. Bank Video KYC uses Aadhaar based OTP to authenticate the customer.
One can also open SBI Insta Plus Savings Account through Video KYC.
How to open SBI account online through YONO app?
- download yono app
- Click New in SBI-Open Savings Account → Without Visiting Branch → Insta Plus Savings Account
- Enter your PAN, Aadhaar details
- Enter OTP sent on Aadhaar registered mobile number.
- Enter other relevant details
- schedule video call
- Login to YONO App at the appointed time through resume and complete the video KYC process
- Your Insta Plus Savings Account will be opened, account will be activated for debit transactions after verification by bank officials.
HDFC Bank also provides a Video KYC facility for opening an account with the bank.
One can complete the account opening digitally through Aadhaar OTP based e-KYC and then click on video call to connect with bank officials for audio-video based verification.
Here’s how to do video KYC online for HDFC Bank account opening
- Go to the official website of HDFC Bank (https://www.hdfcbank.com/personal/save/accounts/Savings-accounts)
- Complete your digital account opening process through Aadhaar OTP based e-KYC.
- Give consent for the Video KYC option and click on the Video KYC link on the last page of the Account Opening section. This link is also sent through SMS and is valid for 3 days from the date of its generation.
- Click on the link to start your Video KYC. The call can be made anytime between 10 am to 8 pm on any day except Sundays and public holidays.
- Allow camera, microphone and location access.
- Let the bank official click your photograph, verify your original PAN, and take your signature once connected.
As per information available on ICICI Bank’s website, Video KYC is an additional medium through which users can complete KYC for their accounts. During the process, the KYC documents of the customer are verified and their signature is recorded through a video call with the bank official, thus eliminating the need to visit the bank branch in person.
RBI has said that the fresh KYC process can be done by visiting a bank branch or remotely through Video-based Customer Identification Process (V-CIP).
V-CIP: An alternative method of customer identification with facial recognition and obtaining the identification information necessary for customer identification by an authorized official through a seamless, secure, live, informed-consent based audio-visual interaction with the customer ( CDD) purpose, and to ascertain the veracity of the information submitted by the Customer through independent verification and by maintaining an audit trail of the process. Such processes complying with the laid down standards and procedures would be treated at par with face-to-face CIPs.
The Authorized Officer performing V-CIP records the audio-video as well as photographs the customer present for identification and captures the identification information using any one of the following:
- OTP based Aadhaar e-KYC Authentication
- Offline Verification of Aadhaar for Identity
- KYC records downloaded from CKYCR, as per section 56, using the KYC identifier provided by the customer
- e-documents equivalent to Officially Valid Documents (OVDs) including those issued through DigiLocker
In case there is no change in KYC information, a self-declaration from the customer in this regard through the customer’s email-id registered with the bank, customer’s registered mobile number, through ATMs, digital channels (like online banking / internet banking) can be obtained. , mobile application of the bank), letter etc.
Only in case of change in the address details of the customer, a self-declaration of the new address from the customer’s registered email-id, registered mobile number of the customer, ATM, digital channel (like online banking / internet banking, mobile application), letter etc., and the declared address will be verified through positive confirmation within two months, such as address verification letter, contact point verification, deliverables etc.
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