Bank of Maharashtra launches VKYC for remote account opening; check details

To ensure a smooth experience, have your Aadhaar number, PAN card soft copy, linked mobile number, and signature ready

Bank of Maharashtra has taken a big step towards digital banking by introducing video-KYC (Video Based Customer Identification Process) for remote account opening. This innovative service allows customers to open savings account from any remote place, eliminating the need for branch visits and paperwork.
 

What is VKYC
 

VKYC, or Video KYC, is a digital identity verification process that allows customers to complete their Know Your Customer (KYC) requirements remotely through a live video call with a bank representative.
 

What do you need during Video KYC?
 

Aadhaar number

A signature on white paper

Aadhaar-linked mobile number

A soft copy of their PAN card.
 

How to open an account using Video KYC?

 

Go to the Bank of Maharashtra website and navigate to the VCIP section. Choose your preferred language and select ‘I want to open a new account via VKYC.’

Read and agree to the terms and conditions provided by the bank.

Fill in the required basic information as prompted. This typically includes personal details such as name, address, contact information, etc.

Schedule a video call at a time convenient for you.

During the video call, a bank executive will guide you through the verification process. This involves confirming a reference number sent to your linked mobile number as part of the two-factor authentication process. The live KYC verification ensures that the information provided is accurate and verifies your identity.

 

Account activation and beyond:

Once verification is complete, your account activation process usually takes place within 24 hours. New account holders then gain access to a range of digital banking services through internet banking and the MahaMobile app, including ATM/debit card management and real-time transaction alerts.