This article will guide you through the simple, step-by-step process of opening your first online Current Account in 10 minutes.
The days of queuing up at the bank and dealing with paperwork are over. Online banking has totally transformed the way people handle their finances. And the best part is that you can now open a Current Account online.
But what does this process actually look like? How does one get started and what are the steps involved? This article will guide you through the simple, step-by-step process of opening your first online Current Account in 10 minutes.
Before you open a Current Account online, make sure you have all the essential documents, including:
A valid government-issued ID, such as your PAN card or Aadhaar card.
Entity and address proof of the firm
Recent passport-size photograph
In case you are applying for a public and private company, you may have to provide:
PAN card of the company
MOA, AOA & Certificate of Incorporation
Address and ID proof of the signatories with passport-size photograph
Other company-related documents
Choose a bank that fits your needs and compare Current Account features and benefits offered by different banks.
Go to the bank's website and find the “Explore Products” option on the main menu.
Choose “Accounts” and then click on “Digital Current Account”.
On the new page displayed, select “Open Now”.
Choose category type and Current Bank Account type.
Click on “Open”.
Enter Aadhaar and PAN card number to verify the identity and details of your business entity.
Fill in your personal and business details.
Schedule a KYC video call and gather the required documents.
Complete the Video KYC process by providing the necessary details and displaying your documentation to the representative.
The bank will verify your documents. Upon successful verification, you will receive an email with your new bank account details and instructions on how to activate your Digital Current Account.
Activate your bank account and set up your online banking credentials, including your username and password.
Fund your bank account to start using it instantly.
Download the bank's mobile app to enjoy convenient banking.
Make sure the bank account variant you choose aligns with your business needs.
For a smooth Video KYC process:
Find a well-lit spot.
Ensure your internet connection is stable.
Use a device with good camera quality.
Carefully review the schedule of charges, initial funding requirements and monthly Average Balance (MAB) guidelines.
Double-check that you have all the necessary documents required for your chosen Current Bank Account variant.
Keep in mind that requirements might vary depending on the bank account type, applicant and business segment.
In today's digital age, banking has become more accessible and convenient than ever. With the steps outlined in this guide, you can open a Current Account online in just 10 minutes and enjoy the convenience and flexibility of managing your finances anywhere and anytime.
With an online Current Account, you can confidently say goodbye to branch visits and leverage simple banking that fits around your busy schedule.
Whether you are a driven entrepreneur, a busy professional or someone seeking a more streamlined financial life, an online Current Account is the perfect solution.
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