Fino Payments Bank Account Opening: Process and Documents

How to Open a Fino Payments Bank Account

You can open a Fino Payments Bank account at a nearby Fino merchant point (Fino Mitra) or through the BPay app using Aadhaar-based e-KYC. Fino Payments Bank is an RBI-regulated payments bank that primarily serves rural and semi-urban customers through its extensive merchant network across India.

Eligibility Criteria

• Indian citizen aged 18 years or above.
• Valid Aadhaar card (linked to mobile number for e-KYC).
• PAN card required for deposits above Rs 50,000.
• Maximum balance allowed: Rs 2 lakh as per RBI regulations.

Method 1: Account Opening at Fino Merchant Point

1. Locate your nearest Fino Mitra (merchant point) using the BPay app or by calling 1860-267-4000.
2. Visit the merchant with your Aadhaar card and PAN card.
3. The merchant will complete your Aadhaar biometric KYC on their device.
4. Your account is opened instantly and linked to your mobile number.
5. You will receive an SMS confirmation with your account details.

Method 2: Account Opening via BPay App

1. Download the BPay by Fino app from the Play Store or App Store.
2. Open the app and tap on Open Account.
3. Enter your mobile number and complete OTP verification.
4. Enter your Aadhaar number and complete e-KYC via OTP.
5. Provide PAN card details.
6. Set your MPIN and your account is activated.

Documents Required

• Aadhaar card
• PAN card (for amounts above Rs 50,000)

Key Takeaways

• Account opening is free of charge.
• Zero minimum balance required.
• Fino Payments Bank cannot offer loans or credit cards (RBI payments bank rule).
• Maximum account balance is Rs 2 lakh.
• Fino Mitra network is spread across rural and tier 3-4 towns.

Frequently Asked Questions

Can I open a Fino Payments Bank account online?

Yes. You can open an account via the BPay app using Aadhaar-based e-KYC without visiting a merchant point.

Is there a minimum balance requirement?

No. Fino Payments Bank offers zero-minimum-balance savings accounts.

How long does account activation take?

Account activation is instant via the app or at a Fino merchant point.

Can I open a Fino account without an Aadhaar card?

Aadhaar is the primary KYC document. Contact Fino customer care at 1860-267-4000 for alternatives if you do not have Aadhaar.

Can senior citizens open a Fino Payments Bank account?

Yes. Any Indian citizen aged 18 and above can open a Fino Payments Bank account.