How to Open a New Bank Account through an App 
Finance

How to Open a New Bank Account through an App 

Indians are fast pacing towards banking through digital channels to smoothen the contactless interaction as we continue to fight the coronavirus pandemic. For this, certain banks have great mechanisms; mobile-based apps so as to enable its customers open a new bank account directly through it. 

List of documents to keep handy before opening a new bank account:

Below is the list of documents that you will need to keep handy before you start with the process of opening an account through the mobile based app:

  • Aadhaar- Any other identity proof or address proof is not needed if you have Aadhaar
  • Identity Proof (driver’s license, passport, etc.)
  • Address Proof (driver’s license, passport, etc.)
  • PAN card or
  • Form 16, which stands to be a certificate which is issued by the employer of the applicant , claiming that TDS has been deducted from your salary
  • Two latest passport-sized photographs

How does it work?

These new mobile apps come with a unique video verification feature to complete the process of opening an account.  Here’s how the entire process of both opening a new account and video conferencing works:

Uploading of documents:

The first thing you need to do is to upload the images of your PAN card, Aadhaar card and your signature done on a blank sheet of paper. 

Video verification:

After you are done with the upload of all your documents, a video verification is done to complete the process of account opening. 

Arrival of the welcome kit:

Once both these processes are complete, your account will get activated and the welcome kit will be delivered at your residential address. After this, the bank in question will send an executive over to get your signature on the bank forms and the physical photocopies of the documents. 

Login via Netbanking or mobile banking to begin transacting:

After you receive your customer ID and account number once you open a new bank account, you will be able to do all transactions like transferring money. You can started by logging into netbanking and mobile banking and generating a password for the same.

Benefits of opening a bank account through mobile app:

Following are the benefits of opening a bank account through a mobile app:

No need to visit a branch physically:

Visiting a branch and waiting in long queues is no longer required since you can open a new bank account from the comfort of your home within half an hour. All you need to do is keep all your details and documents ready. 

All purposes served at one place:

After you open a new bank account, you can do all your transactions from your mobile app, for which you used to usually visit your nearest branch. From transferring money, to making payments for your bills, all can be done at one place. You can also apply for loans, credit cards and also keep a track of your outstanding amount on your credit card if you have one through the app itself and can also open fixed deposit accounts and can view your monthly statements. 

We hope you have all your questions answered that you may have for opening a new bank account through a mobile basedapp. 

You can now get an insurance savings plan with yearly cash benefits

Previous article

You may also like

Leave a reply