With digital advancement in the banking sector, access to financial services and products has become convenient and hassle-free. You can access your funds online through net banking and mobile banking applications offered by various financial organisations. In addition, banks also offer services to open an online bank account remotely over the internet.
It is not only convenient for the bank to activate and manage your account but also saves your time and effort. However, it becomes much easier to open an account online if you know the complete online account opening process.
Savings accounts are the easiest to open and help manage everyday financial transactions like merchant payments, shopping, cash withdrawal and more. Opening a savings bank account takes only a few minutes. The article below lists the process of opening an account online.
Easy steps to open an online bank account
Opening an online savings account is far easier than an offline account opening. You are saved from filling out the detailed application form and physical document verification that consumes your time and effort. In addition, you can access and start using your online bank account within minutes. Here are the easy steps to opening an online bank account.
# Visit bank website or download the mobile banking app
After researching and selecting the best online savings account, you need to visit your preferred bank’s official portal and fill out an online application form. IDFC FIRST Bank savings account can be opened within minutes since the process is completely paperless, and video KYC saves your time. In addition, you get the best bank interest rates on saving accounts. You can either visit the IDFC FIRST Bank website or download the IDFC FIRST Bank Mobile Banking app.
# Keep your documents handy
Whatever method you choose to open an account, you need to present a few requisite documents during the online account opening process. These documents include your identity and address proof, income and contact information. Following are the essential documents that you need during an online account opening.
- Proof of Identity: Aadhaar card, voter ID, driving license, Passport, PAN card, etc. If you present an Aadhaar card, you don’t need to furnish an address document.
- Proof of Address: Utility bills such as telephone bills, electricity, or water bills.
- PAN card: PAN card is necessary for income and financial condition information. Alternatively, you can submit Form 16 issued by your employer, confirming that TDS has been deducted from your salary.
- Two Passport-sized photographs
# Video KYC
After document submission, the bank will undertake Video KYC to verify your identity and personal information further. You need to turn your camera and microphone on and interact with the banking professional over the video call.
# Access your bank account through a mobile app or net banking
Once your video KYC is done, you can instantly access your online bank account. It sends your customer ID and account number via registered e-mail. You can download the mobile banking application or log on to the bank’s official portal for net banking and explore various services.
Meanwhile, the bank will send you the debit card and cheque book with a welcome kit within a week of account opening to access funds through ATMs and deposit machines.
Online bank accounts are easy to open and save your time and effort. You can visit your preferred bank’s online portal and apply for a savings account. The process is interactive, quick, and activates the account almost instantly. Following the above process, you can conveniently open an online account from the comfort of your home.
