State-owned Bank of Baroda on Tuesday launched 'Video Re-KYC' which will give individual resident customers an alternative way to complete the periodic updation of their 'know your customer' (KYC) documents without having to physically visit the branch.
To avail the Video KYC facility, customers must be Indian residents, above 18 years of age and must have their Aadhaar number and original PAN Card.
In the first stage, customers have to visit the BoB website and complete the online Re-KYC application by submitting some basic information. Once the online application is submitted, the Video KYC call with the bank executive will be conducted. For the video call, customers will require original PAN Card, a blank white sheet of paper and a blue/black pen.
Video Re-KYC calls will be undertaken during business hours (10:00AM to 6:00PM) on all working days.
On successful completion of the video session, the customer details will be updated in the bank's records and a confirmation text message will be sent to the customer.
"Customers, whose Re-KYC is due, can complete their Video KYC in a few minutes without having to visit the branch," Bank of Baroda (BoB) said in a statement.
Periodic updation of KYC (Re-KYC) is a mandatory requirement of the RBI and customers need to immediately update their KYC documents with the bank when KYC update is due. The roll-out of the video Re-KYC facility makes the process much simpler, more convenient and elevates the entire customer experience.
BoB introduced video KYC in 2021 to open full-fledged digital savings accounts. The bank has now extended video KYC for Re-KYC facility for the convenience of its customers.
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