Fincare Small Finance Bank Savings Account via Video KYC

Updated: 26-07-2022 10:09:54 AM

Due to the spread of novel coronavirus, the Reserve Bank of India has notified banks to proceed with paperless and contactless banking to minimise the need for physical presence of the customers. Fincare Small Finance Bank offers the facility of opening savings account through video KYC which ensures a safe and secure online banking journey.  Let’s take a look at the procedure on how to open a Fincare Bank Savings Account with Video KYC.

Benefits of Fincare Small Finance Bank Savings Account via Video KYC

Following are the benefits of Fincare Small Finance Bank Savings Account via video KYC:

• Paperless and Presence-Less KYC Process: It works even in remote locations as the customer is not allowed to visit the bank even once during the entire KYC process
• Cost-Effectiveness: Another immediate benefit of video KYC is the cost-effectiveness which has become an important factor amid the current lockdown situation
• Time-Saving: Fincare Small Finance Bank requires a few steps to open a savings account instantly as the verification process is simple, hassle-free, and requires minimal documentation.

How to Open Fincare Small Finance Bank Savings Account via Video KYC

Follow the steps mentioned below to open Fincare Small Finance Bank Savings Account via video KYC:

Step 1: Visit the official website of Fincare Bank i.e. https://101.fincarebank.com/101/

Step 2: Enter Aadhaar linked mobile number

Step 3: Click on the ‘Verify’ button

Step 4: Enter the OTP received on your registered mobile number

Step 5: Enter your Aadhaar number and enter the OTP that you have received on your Aadhaar-registered mobile number

Step 6: Click on the ‘Verify’ button

Step 7: Enter your email address and PAN Number

Step 8: Your details will be automatically fetched from Aadhaar database such as your name, date of birth and Aadhaar-registered address

Step 8 :The bank representative will take your photograph to complete the process

Note: The details are captured via encrypted audio-visual encounter, which comes from the registered entity’s domain for instance from the bank issued smartphone application.

Documents Required for Fincare Small Finance Bank Savings Account via Video KYC

Following are documents are required for opening with video KYC for opening Fincare Small Finance Bank savings account:

• 12-digit Original Aadhaar Card
• 10-digit Original PAN Card

Things to Keep in Mind for opening Fincare Small Finance Bank through Video KYC

You must keep the following things in mind for opening Fincare Small Finance Bank through video KYC:

• You must keep your original PAN Card handy during the video process
• Ensure that room is well lit as live photograph will be taken
• All the questions must be answered
• Make sure the front and back camera must have a good resolution
• Use the headphones for clear audio quality

Frequently Asked Questions

Q. What is a Video KYC facility?
Ans. It refers to the facility of opening a savings account and completing the KYC process video call at the convenience of your home.

Q. How long will the entire video KYC session take place?
Ans. The complete video KYC process will take approximately 10-15 minutes.

Q. What is Aadhaar based e-KYC?
Ans. Aadhaar based e-KYC is an initiative by UIDAI that can be used voluntarily by Aadhaar cardholders for authentication and identity verification.

Q.What are the charges for opening a Fincare Small Finance Bank savings account?
Ans. There are no charges for opening a Fincare Small Finance Bank savings account.