Who can avail and how to avail Re KYC
According to the Bank of Baroda press release, “To avail the Video KYC facility, customers must be resident individuals, above 18 years of age and must have their Aadhaar number and original PAN Card. In the first stage, customers have to visit the Bank of Baroda website and complete the online Re-KYC application by submitting some basic information online. 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.”When can customers avail this facility
On all working days, video Re-KYC calls will be conducted from 10:00 AM to 6:00 PM.
The customer’s information will be updated in the Bank’s systems upon successful conclusion of the video session, and the customer will receive a confirmation text message.
Why Re-KYC is necessary
Customers must update their KYC documentation with the bank as soon as the KYC update is due since the Reserve Bank of India (RBI) requires that KYC be updated on a regular basis (Re-KYC). Customers of the Bank who have a pending Re-KYC update can now take use of this facility and easily finish the process.
Important FAQs related to Re-KYC, according to the bank website.
What is Video KYC?
Video KYC is an alternate and easier method of conducting Customer’s Due Diligence through video at the convenience of customer.
How would I come to know that I am eligible for Video Re-KYC?
Certain categories of individual customers are not eligible for Video Re-KYC. To inquire your eligibility, check on our Video Re-KYC application by providing your Customer ID.
What are the mandatory requirements for doing a Re-KYC through Video KYC?
- Valid Mobile Number Registered with Aadhaar and Bank
- Original PAN Card
- Valid E-mail Id
- A White sheet of Paper and Blue/Black pen.
- Internet Enabled Device – Mobile, TAB, Web-cam enabled Laptop/Desktop with Microphone system
What are the steps for customers to complete Re-KYC through the Video KYC process?
Basic information is required to be filled online. On application submission, Unique Reference Number (URN) will be generated and option for redirection to Video KYC Call will be available through which Bank official will carry out Video Session. After Video Session is complete, Re-KYC information will be updated in Bank’s record subject to verification of Video Session by Auditor.
Can I on-board again if my Re-KYC application was incomplete/rejected?
Validity of Unique Reference number (URN) is 3 days within which a customer can join a Video Session again through the website without need to re-submit a fresh application. In case of rejection/non-completion of journey within T+3 days, customer can start afresh on T+5th day, where T is the day of initiation of previous journey.
