Now you can open NPS account using OTP-based authentication. Here’s how

The Pension Fund Regulatory and Development Authority (PFRDA) has announced that National Pension System (NPS) accounts can be opened using one-time password (OTP) based authentication. “This process would ensure seamless account opening, end to end digitization and optimizing of investment returns by deposit of contributions in a faster way,” PFRDA said in a press release. […]

ICICI Bank launches video KYC; open savings accounts and apply for loan via video interaction

ICICI Bank has launched a video KYC facility for its customers. As part of this new feature, customers can open a new account with the bank or avail services like personal loan and credit card through video interaction. As announced by the country’s second-largest private sector bank, customers can apply for Amazon Pay ICICI Bank […]

Monzo’s new bank account gives you fee-free holiday withdrawals and credit score checks – but it costs £5 a month

“So we’ve doubled down on that and created a premium product that we believe makes Monzo even better at managing your money, refocused on benefits that help customers today and in the future.”

University bound? Here’s how to pick a bank account and manage your cash

App happy A mobile phone will add to the cost of being a student, but it can also pay its way by helping them manage money better. There are plenty of personal finance apps to choose from, including a mobile-only current account from StarlingBank. Another app, Yolt, syncs accounts into one view so spending is […]

Banks roll out Video KYC facilities for customer onboarding amidst COVID-19 pandemic

Numerous Indian Banks are now offering potential customers the option of filling in mandatory Know Your Customer (KYC) formalities through Video, amidst the COVID-19 pandemic. Thus far, ICICI Bank, IDFC First Bank, IndusInd Bank, Kotak Mahindra Bank and Yes Bank are amongst the lenders to have rolled out Video KYC options for customer onboarding, since […]

Now open SBI instant saving account purely online using PAN, Aadhaar sans documents

To facilitate contactless interaction during the current coronavirus pandemic, the country’s largest banker, State Bank of India (SBI) has relaunched it’s ‘Insta Saving Bank Account.’ The account can be opened online instantly without submitting any actual documents i.e. facility is completely paperless. To open the savings bank account, the customer will require to download YONO […]

UK banks may have to flag up plans to shut branches or cash machines

The Covid-19 pandemic is accelerating the shift to digital payments, as retailers and customers opt for card over cash. Cash advocates say small businesses, as well as elderly or vulnerable people who cannot use the internet, afford broadband for online banking or open bank accounts are at risk of being left behind.

OCBC Bank offers customers login option with e-government app

The new login feature was enabled with the integration of digital banking access with the country’s National Digital Identity platform, said OCBC in a statement Thursday. Introduced earlier this month, the login features would reduce the need for customers to remember multiple user IDs, pass codes, passwords, or PINs to log into their various digital […]

Explained: All you need to know about zero-balance savings accounts

Yes, this account comes with a limitation on withdrawals. Banks allow a maximum four cash withdrawals free of cost in a month, including ATM withdrawals at own, other bank’s ATMs, over the counter from bank branch, or Aadhaar Enabled Payment System (AEPS), etc. From the fifth withdrawal onwards, charges are applicable. For instance, SBI charges […]

Sick ‘free Netflix’ scam will hijack your bank account – DON’T fall for this online hoax

We’re aware of a Netflix email scam, offering the chance to win a year’s premium subscription. The link takes you to a genuine looking Netflix page designed to harvest info. Netflix will not email to ask for personal/bank info #ScamAware