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Aadhaar OTP based online bank accounts?
- Thread starter xiddy
- Start date
Deleted member 5552
TF Legend
Nothing will happen 😁
Already opened Axis, Kotak, DBS, Fino, Federal, Equitas, Fi, RBL, India Post and more 🤣 Still nothing happened to me and my accounts 😃
zealot
TF Ace
I have opened ICICI, AXIS, HDFC, FED and IDFC. No problems so far.
krishc
TF Ace
the limit is per bank as far as I know
you can open one with every possible bank you want to
anonymuos
TF Ace
Just curious, what are the benefits of DBS, Fino, Federal, Equitas, RBL accounts? Any specific reasons /advantages?
Deleted member 5552
TF Legend
To check what facilities they provide and to get fee debit cards. Federal Bank is good as they provide instant discounts on sale
😊
panchabhut
TF Ace
Limit is for OTP based acct. But once you have done full KYC (physical or VKYC) its no longer OTP based acct.
jonape4811
TF Buzz
Please don't mind buy may I know the source of it?
As I will be opening AU Bank and IDFC account.
s1t2y3a3m6
TF Ace
What you talking about is for limited kyc or mini kyc verify using adhar OTP. After video kyc no such limitations are there.
It's actually a guideline by RBI to have a single account with mini kyc or adhar OTP verification but till now nothing would happen if you go for multiple one.
jonape4811
TF Buzz
Sorry but which Clause V's which point?
If you see point vi suggests the same thing which I am talking about that you can't open more than 1 OTP based account.
"A declaration shall be obtained from the customer to the effect that no
other account has been opened nor will be opened using OTP based KYC
either with the same RE or with any other RE. Further, while uploading KYC.............. "
Can you please point me to the clause where it is clearly mentioned "But once you have done full KYC (physical or VKYC) its no longer OTP based acc" OR is it that at a time I shouldn't have 2 OTP based account?
But even if one account is opened using OTP and later on converted to full KYC, 2nd time if I want to open a new digital account again for some time till now I didn't do full KYC, ideally it's a OTP based.
varun__goel_
TF Prestige
I have opened all my accounts online. So it's not an issue to open multiple accs online via aadhar otp & vkyc
Only otp based is limited kyc acc which is limited to one. I read in one of the banks t&c. Don't remember which one was it.
panchabhut
TF Ace
V.v "Accounts, both deposit and borrowal, opened using OTP based e-KYC shall not be allowed for more than one year within which Customer Due Diligence (CDD) procedure as provided in section 16 or as per the first proviso of Section 17 of the Principal Direction is to be completed. If the CDD procedure is not completed within a year, in respect of deposit accounts, the same shall be closed immediately. In respect of borrowal accounts no further debits shall be allowed."
So within a year, either it has to be converted to full KYC acct with CDD (i.e. no longer OTP based) or it will be closed. Which imples that Full CDD acct is diff from OTP based acct.
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