Finance

4 Easy Steps to Open a Bank Account On a Mobile Banking App

With mobile phones being the most widely used device by people, most banks have developed their own mobile banking applications to help their customers manage their accounts anytime and from anyplace. When an online banking app offers convenience, it also ensures security through multi-factor authentication during logging in and conducting transactions. A customer using a banking app enjoys several distinctive features, and among them opening a digital bank account from the comforts of his or her place is worth-mentioning.

Here are the four easy steps to open a savings bank account on an online mobile banking app.

Step 1: When you log into your bank account app, you will be initiated to provide location access to confirm that you are in India, and you apply for savings account from a place located in India. Once your location is identified, you will be guided to provide documents for verification, which generally include your Permanent Account Number (PAN) and Aadhaar details. You should also provide your valid mobile number to help the bank conduct ‘know your customer’ (KYC) process. Before proceeding further, you need to upload the copies of your PAN and Aadhaar for verification.

Step 2: The next step is to provide your personal details, wherein you have to fill in the form with your full name, age and address, as well as other relevant information required to open a bank account.

Step 3: The bank will go through your application and the supporting documents, and will contact you for KYC verification through a video call. You need to confirm the details that you have provided to apply for bank account online and move to the next step.

Step 4: In this step, you need to deposit a minimum amount of money to have your account activated. During the process, the bank will also require you to confirm your name to be printed on the debit card.

Once you have completed the above steps, you will receive an email confirming the opening of your savings bank account with virtual debit card details. Before the activation of your account, the bank will conduct a backend verification, which will take a few hours or days depending on your circumstances.

Some Requisites to Fulfil to Open a Digital Bank Account

Here are some requirements you need to meet to qualify for a digital savings account on an online bank account app:

  • You should be a native of India.
  • You should possess a valid Aadhaar and PAN number.
  • You must be minimum 18 years old.
  • Your Aadhaar should have your permanent address, or else you should provide an address proof.
  • You must have linked your Aadhaar with your registered mobile and PAN numbers.
  • You should have a smartphone with a microphone and camera to help undergo the video KYC process.

A mobile banking app is so designed that it protects your personal details by encrypting them to prevent anyone accessing them. Technology has made your life so convenient that you no longer have to spend time going to bank and waiting for services. An online banking app offers amazing features to help you use banking services at your convenience.

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