YESTERDAY, I had a 20-minute virtual identity verification via MS Teams for my Security Bank Money Builders savings account opening with an eKYC agent. Today, I got an email saying it didn’t pass the evaluation process. Ouch!
While I am still waiting for the response to my why-inquiry (I hope so), I am but clueless about the reason as I was just trying to open a savings account, and not applying for a credit card. Hello!
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If it has something to do with my previous transactions with the bank, I don’t think a payroll account more than a decade ago which was cut due to the account transfer of the company where I work was the culprit.
Or if it’s about the sources of fund (I mentioned about my legit microbusiness and my AdSense Payouts), then I believe it should have been explained as I just planned to keep the account really for my saving goals.
Other than these, I can’t think of anything else. I can say however that opening an account online with Security Bank is not good. Better do it personally at the branch. How do I say this?
It took me around fifteen minutes accomplishing the online application form. That was okay. But I received a virtual verification schedule via email and SMS after almost two weeks. Now, that’s quite a long wait. I could have made visits to the banks within the area.
The virtual verification via MS Teams, as promised, really took just twenty minutes. The agent was also on time. I accessed the interview with my laptop. However, it was awkward moving your face near the camera for screen capture and even trying to look for a good angle for the laptop camera to capture the actual signing on clean sheet of paper. I had to flip the laptop screen to almost the lowest angle.
Lastly, the agent seemed a little unfriendly with her black mask (although I knew for health concerns as she might be in the office with other online verification agents) and her overall approach. It’s also her who sent me this afternoon an email.
While quarantine restrictions will be more relaxed as we expect in the coming weeks, I don’t think this savings account ONLINE application and verification is a good option. Equally, with the increase of transaction and ATM fees, digital bank accounts (such as with ING and CIMB Bank) and digital wallets can be considered as better alternatives to traditional bank accounts. Think about it.