IDBI Bank Limited is a private-sector bank that offers a wide range of banking services and products to solve the financial problems of millions of Indians. Among the various offerings that aim to enhance value for its customers, video KYC is an important one. IDBI VKYC or video KYC allows users to complete verification remotely through a device with internet access and a camera, eliminating the need for physical presence.
In this comprehensive blog, we will walk you through the IDBI vKYC facility while highlighting all the details that you need to know.
What Is IDBI VKYC?
IDBI vKYC is an easy way to open a savings account online. IDBI video KYC ensures that the online account opening process stays fast, simple, and safe. It reduces the onboarding time and enhances customer experience and satisfaction.
Under the video KYC process, customers will complete their KYC or ‘Know Your Customer’ process through a video session with a bank representative. This removes the necessity to visit a bank branch completely for account opening formality.
How to Do IDBI VKYC?
To initiate the IDBI vKYC process, all you need is a mobile phone or a laptop/PC with a camera and microphone.
Before going through this process, make sure that you have all the necessary documents at hand. You should have uninterrupted data connectivity, a light background, and ensure that no other person comes into the frame.
Follow these steps to create an account through IDBI Bank vKYC:
- Step 1: Visit the official website of IDBI Bank.
- Step 2: Navigate the ‘Accounts’ tab on the menu bar and move to the ‘Savings Account’ option.
- Step 3: Click on ‘Savings Account Using Video KYC’ from the drop-down menu.
- Step 4: Click on the ‘Video KYC Link’ option and a welcome page will appear.
- Step 5: Read the content at the ‘Customer Verification’ tab and indicate your consent by checking off those boxes.
- Step 6: Now the system would require you to provide ‘Personal Details’. Fill out the form with details such as name, mobile number, and email address.
- Step 7: The system will send a 6-digit verification code (OTP) to the phone number you just provided.
- Step 8: The system will run a ‘Mobile Mulcus Check’. Click on ‘Continue’ to start the video session with the bank official.
- Step 9: The bank official will carry out basic checks through the interaction.
Follow the guidance the official provides and write down all the essential information and you can complete your account opening process through IDBI Bank video KYC.
When Is IDBI VKYC Required?
A person who is going to be an IDBI Bank customer for the first time and existing customers of the bank will be required to go through this process if they want to open an account and update KYC respectively, without visiting the bank branch.
Documents Required to Do IDBI VKYC
You need the following document to do IDBI V KYC:
- Original PAN
- Aadhar number
Apart from that, you will also need a blank white paper and a black or blue pen.
IDBI VKYC Timings
You can undergo the video KYC process on any working day except bank holidays and Sundays between 10 AM to 6 PM.
Reasons for IDBI VKYC Rejection
You can face rejection on your IDBI Bank VKYC application for certain reasons. Some of these are discussed below.
- If a customer fails to provide essential documents and information
- In case there is any incomplete, misleading, or erroneous that the customer has provided
- Upon submitting documents that do not comply with the bank’s KYC norms.
Final Word
IDBI VKYC or video KYC process has made their onboarding process simpler and more convenient for customers as they do not have to visit a bank branch and wait in queues. If you are a new customer of IDBI Bank or an existing user trying to update KYC, avail the video KYC option and reap benefits from various excellent financial offerings of this private sector bank.
FAQs
No, you can carry out the IDBI VKYC on any working day except Bank Holidays. However, if you want to schedule it for a later date you need to book an appointment.
If an applicant is 18 years of age and a resident of India, he/she is eligible to update their KYC details via the online video facility.
The IDBI Bank needs to ascertain your location (as you need to be in India) during your video KYC process. The bank will not share this data with anyone.
If a video KYC gets interrupted, you should restart it again by visiting the Video KYC page and applying again.
Disclaimer
This article is solely for educational purposes. Stable Money doesn't take any responsibility for the information or claims made in the blog.
