What Is Video Banking, and How Does It Work?

We all realized the importance of technology during the pandemic. Especially for banking, when people thought banking would not be possible without visiting the branch, it was all made possible. People heavily relied on Internet banking and banking services available online. If you are wondering what video banking is and how exactly it works, then make sure you read the whole piece.

Chatbots and telephone banking proved to come in handy and were extremely helpful during the pandemic. It is so because of how these systems allowed people to interact with banks without them having to visit the branch physically. As per researchers, the number of active phone banking users increased almost 100%. It became the most popular and preferred method available for getting the bank-related work done. Video banking gained popularity during the pandemic, but not a lot of banks offered video banking facilities.

Most reputed banks also offer zero balance account with video KYC, which makes it easier for people to get started with their savings accounts. The bank that you chose will let you know their video KYC process, so make sure you contact them for more details.

Benefits of video banking

Convenience- One of the most obvious advantages of video banking is convenience. In this case, you will not be required to visit the branch physically. You can get the work done at the convenience of your home with just a few clicks. Also, you will be able to avoid long queues and the whole stress of checking different counters to find which department will be able to handle your query.

Efficient- Opening a video KYC bank account will be the best thing you will do for yourself. It makes the whole banking process efficient and timesaving. You will get your work done in just a few minutes, and at times in just a few seconds. Video banking services are known to be extremely efficient. Hence, it has become the most preferred method of banking these days.

Customer service- The Internet makes it easier for people to connect. That is why, whenever you want to get in touch with your bank, you can easily do so. You can always get in touch with the video banking customer service from 8 am to 8 pm.

How does video banking work?

Almost everything that traditional banks offer can be done through video banking. You can open your savings account, book a fixed deposit, and even get other banking work done with the help of video banking. Not all banks offer this service, so if your bank offers video banking facilities, make sure you get detailed information about it. You can easily open your online savings account without having to visit the bank branch.

How to open an online bank account?

To know whether or not your bank offers video banking services, firstly, you need to get in touch with your bank. Or you can just log on to their website and find out about it. The bank personnel will guide you through the process.

Savings account are the most conventional methods of saving money, and they have been around for a long time.