Do you know you can open a full-fledged savings account from the comfort of your home? Thanks to the digital initiatives of different banks and RBI’s nod to video KYC, you can open a bank account such as Kotak 811 from your home.
‘Know Your Customer’ or KYC is a process adopted by businesses for verifying the identity of their clients and customers. KYC is a part of due diligence carried by financial institutions. Traditionally, KYC has involved paperwork wherein you have to visit the institution concerned to complete the KYC. However, with the advancement in digitalisation, Video-based KYC or completing KYC through a video conference has made it easier for customers to complete the KYC requirements without stepping out of their home.
What is video KYC?
Video KYC is a video-based customer identification procedure that enables you to complete KYC on a video call with the authorities concerned. The live audiovisual interaction will allow the customers to get their KYC completed without leaving their homes. Reserve Bank of India has laid down the detailed guidelines for Video KYC. The account opening process of Kotak 811 Video KYC complies with the given RBI guidelines.
What are the advantages of Kotak 811 Video KYC?
Opening a Kotak 811 Account through video KYC is a smooth process and have many advantages over a traditional account opening process. Here are some advantages of Kotak 811 Video KYC.
- Open a full-fledged Kotak 811 Account with no limits from comfort of your house.
- As it is a zero-contact process, you and your family members can stay protected.
- It is a paperless process so you can avoid the hassle of paperwork.
- Real-time Video KYC saves time and eliminates the need to wait in a queue, hence, making this process customer friendly.
What are the features of Kotak 811 Video KYC?
Kotak 811 Video KYC has several attractive features, making it a preferred option for customers to complete their verification process. We list a few of these features below.
1. An easy and paperless process – Kotak 811 Video KYC is completely a paperless process. You are required to fill the details online and you are connected to a bank agent to carry out the Video KYC process. The bank official will record the video as well capture your live photo. You need to display the clear image of PAN for verification purpose. Hence, the need of paperwork is eliminated.
2. Secure and seamless process – Opening a Kotak 811 through Video KYC is secure as it incorporates the best security measures and adheres to the mandate of the RBI regarding the data security.
3. Account opened within six hours – After verification through Video KYC, the Kotak 811 account will get activated within six hours. Post the account activation, you may activate mobile banking through the Kotak mobile app for banking to carry out banking transactions.
4. Zero balance account– Kotak 811 has no minimum average balance requirement. Hence, it will keep your worries about your account balance at bay.
Kotak 811 Video KYC facilitates in opening a full-fledged zero balance savings account with no hassle.