What is the use of video banking to open a savings account?

As the name suggests, a savings account primarily helps you save your money. It is a joint bank account where you can easily deposit or withdraw money or earn an interest rate on the deposited funds. In order to create a banking transactions experience that is seamless, fast, and secure, the major banks offer new features in the saving account, named video banking, that helps you to open a savings account online instantly. 

With video banking, you have to opt for the video-based customer identification process using this video banking platform. Let us move deeper into the steps to open a savings account with the help of video banking. 

Process of opening saving account

In this, we are going to tell you the way by which you can easily open a savings bank account online. This step-by-step guide makes your opening process fast and easy. 

Go online is the first step to opening a savings account online with the help of the video KYC. In this way, you can easily access your system’s camera and microphone with a stable internet connection. The process of video banking relies on the customer to become available and appear through video mode and permits the customer to open a savings account from anywhere.

  • Important documents

There are some documents that are required to open an online savings account with the help of video banking. The important documents are the Aadhar card and the PAN card.

  • Verify online yourself

Here you would need to scan your documents in front of the camera. At that time, the video banker will take a snapshot of your documents. In this way, your Aadhar card will be scanned and verified via the OTP. You get the one-time verification code on your given mobile number. Here you are also required to have the blank paper and submit your signature online with the help of this blank paper. 

  • Opening the savings account
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Once the verification of your documents is done, then you set the procedure to open the savings account. After that, your debit cards and checkbook will be sent to your registered address after 15-20 days. 

Tips for choosing the best savings account

  • It is suggested to open a savings account with a bank that gives you the convenience of the paperless procedure. 
  • While opening an online savings account, you have to look for attractive offers such as access to debit cards and offers on insurance coverage. 
  • Select the bank that offers the doorstep service in the form of delivery services and the cash collection
  • You must look for a broad range of services such as mutual funds, insurance, lockers, demat, assets products, etc. 

Conclusion

In this article, you will get information on the way to open an online savings account with the help of the video KYC. 

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