6 days ago

Online Bank Accounts May Avoid Branch Visits, Requirements Vary

Can I open a bank account without visiting a branch? · livemint.com

Some banks let people open accounts without going to a branch.

You fill out an application on the bank’s website or app.

You may need to provide identity and address documents.

The bank may check your identity through a video call called video KYC.

IDFC FIRST Bank offers this option for eligible online savings-account customers.

You may still need to visit a branch if your account or verification situation requires it.

Before choosing an account, compare fees, balance rules, interest and digital services.

Never share your OTP, PIN or password with anyone claiming to represent the bank.

Key facts

Eligibility: Branch-free opening depends on the bank, account type, customer eligibility and verification requirements.
Verification: Banks may use remote methods such as video KYC.
Common documents: PAN, Aadhaar or another accepted KYC document, a registered mobile number, address and personal details may be requested.
Video KYC requirements: IDFC FIRST Bank’s online savings-account video KYC process requires access to a camera, microphone and relevant verification details.
Possible branch visit: Some applications or circumstances may require additional verification or a physical branch visit.
Account comparison: Customers should compare interest rates, minimum balances, service charges, digital facilities, transfer options, transaction limits, support and eligibility.
Safety: Applicants should use only official bank channels and never share OTPs, PINs, passwords or other authentication details.

livemint.com · 6 days ago