How to Open a Bank Account with Video KYC in India: Due to advancements in technology and digitization, banking institutions have adopted the use of video calls to conduct the Know Your Customer (KYC) process. The Reserve Bank of India (RBI) has given the go-ahead to regulated institutions including banks to conduct video KYC. In this article, we are going to discuss the process of opening a bank account through Video KYC in India.

Major public and private banks provide video KYC facility

Public and private banks in India such as Bank of Baroda, State Bank of India (SBI), HDFC Bank, and ICICI Bank provide Video KYC facilities to their customers for opening bank accounts. The video KYC process can be done through mobile phones, laptops, or personal computers.

How To Open SBI Account Online Through YONO App

SBI customers can open SBI Insta Plus Savings Account through the YONO app. This way:

1. download YONO app
2. Click on “New in SBI – Open Savings Account” → “Without Branch Visit” → “Insta Plus Savings Account”
3. Enter your PAN and Aadhaar details
4. Enter the OTP sent to your Aadhaar-registered mobile number
5. Enter relevant details and schedule a video call
6. Login to YONO app at the scheduled time and complete the video KYC process.

After completing the video KYC process, the account will be activated for debit transactions after verification by the bank officials.

How To Open An HDFC Bank Account With Video KYC

Customers can open HDFC Bank Account with Video KYC by following these steps:

1. Go to the official website of HDFC Bank (https://www.hdfcbank.com/personal/save/accounts/Savings-accounts)
2. Complete digital account opening through Aadhaar OTP-based e-KYC
3. Agree to the Video KYC option and click on the Video KYC link on the last page of the Account Opening section.
4. The link will also be sent through SMS and it is valid for three days from the time of generation.
5. Allow access to your camera, microphone, and location.
6. Once connected, the bank official will click your picture, verify your PAN, and take your signature.

Verifying your identity is an important step in opening a bank account and ensuring the safety of your funds. HDFC Bank offers two options for customer verification: Video KYC and Full KYC with all benefits. In this article, we will guide you through the process of upgrading your HDFC Bank account to the account of your choice.

Upgrading your HDFC Bank Account with Video KYC

1. Update Video KYC: To update Video KYC, simply follow the link provided and complete the verification process.
2. Problems connecting: If you’re having trouble connecting, don’t worry! Try the same link again. Just be sure to reconnect within 3 days, as the link will expire after that.
3. Incomplete Video KYC: If the video KYC verification fails, it means that your video KYC is incomplete. In this case, you need to visit the nearest HDFC Bank branch to complete the physical KYC documents and get the Full KYC All Benefit Account.

Complete KYC to receive your welcome kit with all benefits

1. Full KYC Completion: After completing the Full KYC process, HDFC Bank will send your Welcome Kit to your registered postal address.
2. All Benefits: By completing the Full KYC process, you will get access to all the benefits of a Full KYC All Benefits account, including enhanced security for your funds and access to a wide range of financial services.

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Video KYC In ICICI Bank

ICICI Bank also offers Video KYC to its customers as an alternate mode of completing KYC. The KYC documents of the customer will be verified and signatures will be recorded through a video call with the bank official.

RBI Guidelines For Video KYC (V-CIP)

RBI said that the new KYC process can be done by visiting a bank branch or remotely through a video-based customer identification process (V-CIP). V-CIP is an alternative method of customer identification that includes seamless, secure, direct, and informed-consent audio-visual communication with customers.

After V-CIP, the authorized officer will record the audio-visual communication, hold the customer and obtain the required information. OTP-based Aadhaar eKYCisation, the offline opening of Aadhaar, completion of identity information through CKYCR KYC records or equivalent e-documents. Can self-declare customer’s email-id, mobile number, digital channel, or newsletter without any change in KYC information.