KYC verification has become necessary for all bank account holders, irrespective of any particular financial institution. It makes the financial services free from any unlawful activities. If you are a user and your KYC is incomplete, you should not avoid it further. Here is a step-wise guide to update the Airtel Payment Bank KYC to help you complete your due diligence.
How to Update Airtel Payments Bank KYC Online?
All Indian banks have made the formal financial system more convenient for users and Airtel Payments Bank is no different. It offers Aadhaar-based e-KYC procedures to help customers open their savings accounts effortlessly.
Airtel Payments Bank has enabled face biometric authentication procedures for KYC in collaboration with UIDAI. The process involves the steps mentioned below:
- Step 1: Open the Airtel Thanks mobile app.
- Step 2: Log in to your user account.
- Step 3: Click on “Savings Bank Account Re-KYC”.
- Step 4: Select your nationality and then enter your mobile number.
- Step 5: Click on ‘Send Code’.
- Step 6: Enter the OTP.
- Step 7: Fill in your Aadhaar number or Virtual ID and PAN number.
- Step 8: Tick the given box to give your consent for Aadhaar-based Airtel Payment Bank KYC.
Upon completing these steps, you will successfully execute the KYC updating process.
Taking customer convenience one further step, Airtel Payments Bank has also announced that it will launch a face-scanning-based e-KYC process. It will smoothen and quicken the Airtel Payments Bank e-KYC verification. Users can complete this process from any part of India using the Airtel Thanks App.
How to Update Airtel Payments Bank KYC Offline?
If the online Airtel Payment Bank KYC procedure is not a convenient process for you, you can visit your nearby Airtel banking point.
The simple steps involved in offline KYC are:
- Step 1: Visit an Airtel Banking Point with your PAN and Aadhaar card.
- Step 2: Inform a bank representative about your KYC requirement.
- Step 3: Provide the required documents.
- Step 4: Complete the Aadhaar-based biometric verification process by following the instructions given by the agent.
After this, your Airtel Payment Bank re-KYC process will be complete and you will be able to leverage all the standard features and benefits.
Documents Required for Airtel Payments Bank KYC
Following are the documents you will have to keep ready while updating the KYC of Airtel Payments Bank:
- Aadhaar Card
- PAN Card
If you do not have a valid PAN card, you will have to submit the duly filled-in Form 60, as per the RBI guidelines.
Airtel Payments Bank KYC Rules & Regulations
Following are some basic rules for Airtel Payment Bank KYC:
- You will have to be an Indian resident.
- All details provided by you should be authentic.
Why Is it Important to Update Airtel Payments Bank KYC?
Airtel Payments Banks collect updated information about their customers through the Know Your Customer or KYC verification process. There are some valid reasons for doing so, as mentioned below:
- Through KYC, all the banks, including the Airtel Payments Bank ensure that the financial services are not used maliciously.
- You may face temporary suspension of your banking service in case you do not complete your Airtel Bank KYC update.
- You can ensure more security on the financial transactions by completing the KYC.
- Most importantly, you need to update the KYC to ensure complete access to all the financial services offered by Airtel Payments Bank.
Airtel Payments Bank KYC Form
Currently, you can update the Airtel KYC only from the Airtel Thanks mobile app. The procedure is not available on the website. You will just have to install it on your device if it is not done yet, log in to it and complete the KYC updating steps as discussed above.
Airtel Payment Bank KYC will help you ensure that your savings account does not become deactivated in the future if it is not yet. It is quite a simple task to complete this process from the Airtel Thanks mobile app. However, if you are a little uncomfortable with online KYC updating, you can even go to your nearby Airtel Payments Bank customer service point.
Airtel Payments Bank will begin the face authentication-based e-KYC. Users will be able to complete the KYC through face biometrics.
Earlier, users could complete their re-KYC process through video. In this process, customers had to make a video call and respond to the queries of Airtel Payments Bank officials. However, it will be replaced by the face-authentication-based e-KYC.
The process of Airtel Bank KYC is completely safe if done from the official platform which is currently the Airtel Thanks App.
Airtel Payments Bank has made the Min KYC inoperative because of the inconvenience it caused to the financial institution. It allowed users to change their mobile numbers abruptly without any intimation with the payment bank.
This article is solely for educational purposes. Stable Money doesn't take any responsibility for the information or claims made in the blog.