Digilocker Kyc + Penny Drop Verification: Instead of Video kyc for Credit card application.

[NTT]

Hello everyone 😇

I am new member of this community. I am starting my learning here with the following query. Looking forward to considered inputs😊 from learned members here.

So,
here is what I am trying to know:

Is there any bank (Apart from SBI card) in your knowledge which takes credit card application with a "Digilocker kyc and Penny drop Verification" instead of video kyc.

SBI Card had offered this facility and that made it really easy for me.

If you are sure of any bank doing this please share here. This should help others too

Thanks in advance 😊


PS: I did search before posting this and couldn't find any relevant thread. If anyone knows any relevant thread I shall be be happy to check that.

 

[vaibhav111]

Hello everyone 😇

I am new member of this community. I am starting my learning here with the following query. Looking forward to considered inputs😊 from learned members here.

So,
here is what I am trying to know:

Is there any bank (Apart from SBI card) in your knowledge which takes credit card application with a "Digilocker kyc and Penny drop Verification" instead of video kyc.

SBI Card had offered this facility and that made it really easy for me.

If you are sure of any bank doing this please share here. This should help others too

Thanks in advance 😊


PS: I did search before posting this and couldn't find any relevant thread. If anyone knows any relevant thread I shall be be happy to check that.

hi there, welcome to our community, never heard of Penny drop Verification! if you bank account with the bank, video kyc is skipped if done within a time frame of opening a sb/cs and applying for a cc for the same bank.

 

[Vasuki]

hi there, welcome to our community, never heard of Penny drop Verification! if you bank account with the bank, video kyc is skipped if done within a time frame of opening a sb/cs and applying for a cc for the same bank.

In SBI Sprint website u can
Verify through bank via
First they will credit
Then u will send them

Basically they featch your ckyc From that bank account

 

[NShah]

Hello everyone 😇

I am new member of this community. I am starting my learning here with the following query. Looking forward to considered inputs😊 from learned members here.

So,
here is what I am trying to know:

Is there any bank (Apart from SBI card) in your knowledge which takes credit card application with a "Digilocker kyc and Penny drop Verification" instead of video kyc.

SBI Card had offered this facility and that made it really easy for me.

If you are sure of any bank doing this please share here. This should help others too

Thanks in advance 😊


PS: I did search before posting this and couldn't find any relevant thread. If anyone knows any relevant thread I shall be be happy to check that.

BOB does kyc verification without vkyc with the help of ckyc, gets ckyc data from CERSAI

 

[Vasuki]

BOB does kyc verification without vkyc with the help of ckyc, gets ckyc data from CERSAI

Kya faida Bob ka jb home verification krenge
Aur last m card reject

 

[NShah]

Kya faida Bob ka jb home verification krenge

Mera to 15 days se pending hai
Documents email se share karne bol raha .Meine 5 se 6 baar share kardiya for bhi application status change nahi hua 😅

 

[Vasuki]

Mera to 15 days se pending hai
Documents email se share karne bol raha .Meine 5 se 6 baar share kardiya for bhi application status change nahi hua 😅

Bob - bank of bakasur

 

[NTT]

In SBI Sprint website u can
Verify through bank via
First they will credit
Then u will send them

Basically they featch your ckyc From that bank account

That is what they (SBI card) did in my case and I found that perfect for my needs/case. Fully digital process. Smooth it was.

But I asked Any other Banks (other than SBI card) which offers this facility for new application of credit cards.

Not much use of Cases like BOB mentioned here by fellow members if we end up being made to wait for physical verification or sending documents through mails. That ""defeats the whole Purpose"" of *Digilocker Kyc".


Let's see if others here know of any banks offering same.

 

[NTT]

hi there, welcome to our community, never heard of Penny drop Verification! if you bank account with the bank, video kyc is skipped if done within a time frame of opening a sb/cs and applying for a cc for the same bank.

Thank you for Vaibhav for welcoming gesture😊.

Penny Drop is just a Name for a process of Bank account verification where the Institution you are applying to (for certain services) deposits a small amount in your bank account and then asks you to return it to same source.

This assures them of your details (name, Age, Pan Card etc) actually matching with what you claim in application with them.

 

[NTT]

Please

Thank you for Vaibhav for welcoming gesture😊.

Penny Drop is just a Name for a process of Bank account verification where the Institution you are applying to (for certain services) deposits a small amount in your bank account and then asks you to return it to same source.

This assures them of your details (name, Age, Pan Card etc) actually matching with what you claim in application with them.

Please ignore the Typos. I don't know if we can edit our posted messages or not.. but I believe most of us will easily understand that certain errors are due to small mobile screen and at times auto correct.

 

[NTT]

That is what they (SBI card) did in my case and I found that perfect for my needs/case. Fully digital process. Smooth it was.

But I asked Any other Banks (other than SBI card) which offers this facility for new application of credit cards.

Not much use of Cases like BOB mentioned here by fellow members if we end up being made to wait for physical verification or sending documents through mails. That ""defeats the whole Purpose"" of *Digilocker Kyc".


Let's see if others here know of any banks offering same.

@pothi @NShah @vijay.vj @RAMESH BABU N

Please share your experience or you may tag those whom you think can answer this.

 

[SamPtnk]

SBI sprint say they never store aadhar info
Is this true ?

 

[reach2dpg]

@pothi @NShah @vijay.vj @RAMESH BABU N

Please share your experience or you may tag those whom you think can answer this.

I applied for the SBI card 10th April. As you mentioned the process was smooth involving the online kyc (I think via DigiLocker) and by net banking debit. But the application went on hold for few days till a person came to my home last Friday. He triggered some process through his mobile and I got a sms and mail for e-signature. The process was completed in 5 minutes. There was no photo taken or biometric verification. I got the virtual in another few minutes, it is usable right away. I am now waiting for the physical card to arrive. There was no verification done in the office address. I feel it trumps any other verification process including that of Amex.

 

[Vasuki]

I applied for the SBI card 10th April. As you mentioned the process was smooth involving the online kyc (I think via DigiLocker) and by net banking debit. But the application went on hold for few days till a person came to my home last Friday. He triggered some process through his mobile and I got a sms and mail for e-signature. The process was completed in 5 minutes. There was no photo taken or biometric verification. I got the virtual in another few minutes, it is usable right away. I am now waiting for the physical card to arrive. There was no verification done in the office address. I feel it trumps any other verification process including that of Amex.

Which card ?

 

[reach2dpg]

SBI cash back

 

[Vasuki]

SBI cash back

Oh oh ouch 🌚 nice

 

[reach2dpg]

SBI sometimes surprises us with innovative features. YONO gave me the 1st cardless withdrawal option among all the banks where I had account. Now this process for CC application. If they can shed some lethargy and become more customer-focused they can be the best bank.

 

[NTT]

SBI sometimes surprises us with innovative features. YONO gave me the 1st cardless withdrawal option among all the banks where I had account. Now this process for CC application. If they can shed some lethargy and become more customer-focused they can be the best bank.

Good to hear your success and process applied for the same by SBI card. Congratulations 😊

Now as a small treat 😀 on your success Share some light on any other Bank doing this process or encourage others to share their experiences other than SBI card application via Sprint (SBI card application website).

 

[NShah]

Good to hear your success and process applied for the same by SBI card. Congratulations 😊

Now as a small treat 😀 on your success Share some light on any other Bank doing this process or encourage others to share their experiences other than SBI card application via Sprint (SBI card application website).

Only Sbicard and Bob

 

[reach2dpg]

Only Sbicard and Bob

Bob did physical verification at home and office address 🤦🏻‍♂️