Top 4 Benefits of Digital Current Account

5 MinsDec 24, 2020

The pandemic has turned many into entrepreneurs. A lot of people are setting up their businesses. They are increasingly adopting online modes of transactions for receiving payments and dues. To cater to such growing business needs and digital transformation journey, we have launched full power Digital Current account for all the small business owners and individuals planning to set up their own business.

digital age

Opening a Current Account usually entails visiting a branch. However, with our Digital Current Account, all you need is your KYC documents, a device with a camera and you are good to go. It’s a new age account for the modern business owners.

Key features of Digital Current Account:

1. Digital Full KYC account with zero monthly service charge

2. No branch visit required - avail 250 + services online

3. Start transacting securely via Debit Card, UPI, NEFT, IMPS and RTGS on account activation

4. Get a Virtual Debit Card loaded with offers. It’s a digital debit card with a 16-digit card number, expiry date and CVV (all visible online). You get this card instantly on account opening and transact up to Rs. 1 lakh per day with this card

5. Additionally, you also get a Business Classic Debit Card loaded, which is dispatched to your communication address after account opening

6. Once you update your signature in your account (either through the Axis Mobile or by visiting a branch), you can request for a cheque book (though the app/website or branch visit)

[Also Read: A new age digital savings account can change the way you bank]

What are the requirements for opening a full power Digital Current Account?

1. You need to be an Indian citizen with an age of 18 years or above

2. You should be opening an account with Axis Bank for the first time

3. You should have a valid PAN and Aadhaar number, and a valid mobile number linked to your Aadhaar

4. A camera-enabled device

5. You should be present in India

6. Once the account is opened, you have to maintain an Average Monthly Balance of Rs. 10,000 for urban regions and Rs 5000 for semi-urban and rural regions

Key benefits of Digital Current Account -

1. You can make cash deposits up to Rs. 1 lakh per month in your account

2. You can apply for other products as per the eligibility criteria of Axis Bank

3. Your business name doesn’t show up when you make transfers (either online or offline) leading to firm's reduced brand equity. When you want funds to expand your business, lenders will have a current account to check your creditworthiness

4. Additionally, you can also enjoy various offers and transaction benefits on account opening, including cashback on transactions via your virtual debit card, as well as deals on 20+ brands including Amazon, BookmyShow and more!

So why wait? Get started with your entrepreneurial journey with Axis Bank’s full power Digital Current Account today!

Disclaimer: The Source, a Mumbai-based content creation, and curation firm has authored this article. Axis Bank does not influence the views of the author in any way. Axis Bank and The Source shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information. Please consult your financial advisor before making any financial decision.