With this launch, the Bank aims to embrace inclusivity by widening its reach to cater to a diverse customer base, especially in tier 1 and tier 2 cities.

Yes Bank launches digital savings account with e-KYC virtual debit card
Money Banking Saturday, June 27, 2020 - 16:47

Yes Bank has announced the launch of a full service digital Savings Account in its endeavour to bring the Bank closer to citizens while ensuring physical distancing. This eliminates the need for a branch visit, physical documentation or any in-person interaction, in line with the Bank’s commitment to support citizens and communities while the country starts unlocking in phases. 

With this launch, the Bank aims to embrace inclusivity by widening its reach to cater to a diverse customer base, especially in tier 1 and tier 2 cities, in line with the Bank’s strategy of building a transformed ‘Digital Bank’.

Offering a completely contactless and paperless account opening experience, Yes Bank’s digital savings account comes with a virtual Debit Card, unlocking over 100 features on mobile through YES Mobile and web including transactions, fund transfers and online shopping using the virtual Debit Card, the Bank said in a statement. All that a customer needs to do is initiate an e-KYC by clicking on the link here, enter mobile number, Aadhaar OTP and PAN card details in the online form, followed by a video KYC.

Some key features of the Digital Savings account include: Digital Account opening using Aadhaar card; virtual Debit card which can be used for online transactions; free NEFT, RTGS and UPI facility; Instant beneficiary and biller registration; avail offers on Debit Card and earn reward points for Digital Savings Account; average monthly balance of Rs 10,000 for savings account. 

Commenting on the launch, Rajan Pental, Global Retail Head, Yes Bank said, “The world as we know it has transformed, wherein we are now adjusting to a new way of life, a new world which has brought us socially even closer while we continue to remain physically distant. The connecting factor binding us all is digital – video calls with family & friends, virtual workouts, e-learning and working from home, among others. Leveraging on YES BANK’s strong technology capabilities along with a higher interest rate, we are geared to serve customers in this new world with a digital solution that brings the Bank to them wherever they are, right at their fingertips.”

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