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Home / Industry / Banking /  Video KYC: How to open savings account online? A step-by-step guide
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In a bid to enhance the end-user experience, many public and private sector banks have formally launched the Video KYC facility for the ease of opening saving bank accounts in the banks. 

The facility relies on completing Know Your Customer (KYC) process via video mode, allowing an applicant to open an account from anywhere by incorporating Video-based Customer Identification Process

The Video KYC process will dispense the need for a personal visit to any bank branch to complete the physical verification process.

The Video KYC facility further simplifies the subsequent steps and will deliver the Cheque book/ATM Card to the registered address of the customers. 

Video KYC: How to avail

The pre-requisites to avail the Video KYC facility are a valid mobile number, e-mail id, PAN Card, Aadhaar number (linked with mobile number/email) and access to a computer or mobile device having camera and microphone facility besides an internet connection. 

The process validates the applicant’s credentials from multiple sources like Bank representative-initiated video call, information from UIDAI, NSDL and OTP for registration of mobile number.

Allow camera, microphone, and location access.

Let the bank official click the applicant's photograph, verify the original PAN, and take the signature once connected.

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

The customers 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.

Meanwhile, Indian Bank has become the latest public sector bank to formally launch the Video KYC facility.

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