EBL launches e-KYC to facilitate instant account opening

Staff Correspondent | Published: 15:58, May 31,2020 | Updated: 16:00, May 31,2020


Eastern Bank Limited on Sunday launched an instant account opening service named ‘EBL INSTA Account’ under e-KYC (electronic know-your-customer) guideline.
Launching of the service, first of its kind in Bangladesh, would help customers and employees maintain maximum possible social distancing during the coronavirus pandemic, said a statement of EBL.
The service followed e-KYC guidelines issued by Bangladesh Financial Intelligence Unit (BFIU) in January with a view to bringing people under the financial services without their physical presence at financial institutions.
The new service would facilitate opening bank accounts within a minute, the statement said.
The initiative will minimise the total time spent by customers in the bank, while ensuring them top quality digital banking solutions, it said.
Such account will be opened with the national identification number of the customer, and will offer debit card as well as free cheque book facilities, the statement added.
Customers would be able to open both current and savings accounts under the EBL Insta Account service.
Initially, the service would be available in all EBL branches.
The leading private commercial bank, however, has plans to facilitate customers with the service online or smartphone-based applications without their physical presence at branches, an EBL official said.

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