Current account (UPI, Mobile/Net Banking confusion)

[Das.N]

Hello, I am thinking of opening a current account. I have PNB,SBI,Canara branch near me. I am considering these three banks because I need this account mainly for cash deposit and a nearby branch will help me in this case.

The main confusion is, Does these banks support UPI on current account ?
If yes, I have savings account in SBI And Canara. And if I open a individual current account with my same mobile number, which account will they fetch (current/savings)?

And in mobile in net banking, Will I be able to operate two accounts from the same net banking/mobile banking?
Or Will I be given separate net banking id?

So,Should I use different mobile number in current account?
Or Open current account in pnb because I don't have any savings account there?

 

[Kumar93196]

You can easily manage both accounts with on no. And one customer id. Main issue is cash transactions you need to show them proof that these are genuine business transactions not some money rotation.

 

[Das.N]

You can easily manage both accounts with on no. And one customer id. Main issue is cash transactions you need to show them proof that these are genuine business transactions not some money rotation.

How to prove geniune transactions? Do I need submit ITR/business receipts every year?

 

[Anindya98]

Hello, I am thinking of opening a current account. I have PNB,SBI,Canara branch near me. I am considering these three banks because I need this account mainly for cash deposit and a nearby branch will help me in this case.

SBI

The main confusion is, Does these banks support UPI on current account ?
If yes, I have savings account in SBI And Canara. And if I open a individual current account with my same mobile number, which account will they fetch (current/savings)?

Both will show individually

And in mobile in net banking, Will I be able to operate two accounts from the same net banking/mobile banking?
Or Will I be given separate net banking id?

Same app & net banking

So,Should I use different mobile number in current account?
Or Open current account in pnb because I don't have any savings account there?

use the same number no issue PNB has server issues it takes time to update payment information better go with SBI

 

[Das.N]

SBI

Both will show individually

Same app & net banking

use the same number no issue PNB has server issues it takes time to update payment information better go with SBI

So, In UPI; I will have both accounts fetched by the system in my same mobile number and I can use any of them.
Are you saying this?
Correct me please if I am wrong.

 

[dhiraz]

So, In UPI; I will have both accounts fetched by the system in my same mobile number and I can use any of them.
Are you saying this?
Correct me please if I am wrong.

Yes! This is Correct.

I am using HDFC Saving and a Current Account in PhonePe with the Same Number because Both Accounts Have Different Debit Cards so You can Easily Manage Those Accounts.

 

[NCD]

Do all banks have UPI facility for UPI account or any bank/account variant has expectations?

 

[Anindya98]

So, In UPI; I will have both accounts fetched by the system in my same mobile number and I can use any of them.
Are you saying this?
Correct me please if I am wrong.

Y e s

 

[smz]

Business proof required for opening these individual current accounts ?

 

[Anindya98]

Business proof required for opening these individual current accounts ?

Yes, some banks ask for proof some don't even bother to ask

 

[smz]

Yes, some banks ask for proof some don't even bother to ask

Which banks don't ask proof with online account opening ?

 

[Anindya98]

Which banks don't ask proof with online account opening ?

Not sure but one of my friend have an AU Bank Current account with 5K MAB opened online without any verification.
Any specific reason for getting a current account?

 

[Animesh67]

Which banks don't ask proof with online account opening ?

SBI, ICICI, HDFC and IDFC ask for proofs and they do verification of the business.

 

[Das.N]

It's a separate segment called individual current account , not a business current account. So technically bank should open in individual level without business documents.
Few days ago, I heard SBI was opening a lot of this 'Individual current account" with personal documents of the customer when Paytm payments bank was banned by RBI. Don't know what's the case now .