FAQ - All your questions answered

To learn more about OneBanc, go to our FAQ section. Get to know the A to Z of what we do through our explainer sections, made to make your life easy and smooth.

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Frequently Asked Questions
Q. What is OneBanc?
A. OneBanc is a Neo bank that provides digital and mobile-first banking and financial solutions. We are a technology interface between customer and our bank partners. Using our advance technology platform, customer activity is captured across channels and analytics are used to maximize customers’ lifetime value across all product lines.
Q. What is neo-bank?
A. It is a digital bank that doesn’t have physical presence. Neo-bank is a fintech firm which provides digital and mobile first banking solution payments and money transfers, money lending etc.
Q. What are the features of OneBanc?
A. Sharing below some of the cool features which you will get with us:
  • Contactless Banking
  • Numberless Card
  • AI Recommended Insights
  • Automated Tax Benefits
  • Cash back on all card spends
Q. Who is eligible to use OneBanc?
A. Working professionals are eligible to use and get benefits of OneBanc solution.
Q. Do I need to be an Indian resident?
A. Yes, you currently need to be an Indian resident to avail benefits with OneBanc.
Q. Does OneBanc have an iOS application?
A. Yes, we do have an iOS application.
Q. Does OneBanc charge any fees?
A. No, there are no charges for using our solutions or for doing transactions through OneBanc App.
Q. How do I get access to OneBanc?
A. You can get access to our solution once your organization onboards with us
Q. My phone isn't getting registered. What do I do?
A. There could be a couple of reasons why this is happening. Here are some common ones:
  • The mobile number you've used to sign up is not present on the phone that you're using. Ensure that the SIM is physically present on the same device that you're trying to sign up with.
  • You could have selected the wrong SIM. In case of a dual SIM phone, make sure that you have selected the correct SIM.
  • You could be in an area with poor network coverage. If that's the case, wait until to you move to an area with good signal strength and then retry.
Q. My PAN card is not being accepted
A. Please make sure the card you used during the PAN check is a valid individual PAN card.  If you're using a valid existing individual PAN card and are still facing issues – there could be a server error. Please retry after some time.
Q. What is Video KYC?
A. Video KYC enables you to open bank account instantly wherein, after entering your details, you will have the option to get on a video call with our partner bank executive to complete your KYC process. The video call will ensure you no longer need to visit the branch to complete your KYC.
Q. What are the different steps involved in video KYC process?
A. In the Video KYC process, you must fill up your details online. The bank agent will then carry out basic checks through video interaction. The agent will guide you through the process. Just keep your original PAN card, a blank paper, and a black pen handy.
Q. Is Aadhaar required for video KYC?
A. Yes, Aadhaar number is required for video KYC. Your Aadhaar number will be verified through an OTP received on your registered mobile number. You don’t need to show your physical Aadhaar Card during the Video KYC process.
Q. I don’t have any current address proof. Will that be an issue during Video KYC process?
A. There is no requirement to show your current address proof. You can enter your communication address during the opening of an account.
Q. What specific permission access do I need to allow for video KYC?
A. You will need to provide below access:
  • Location
  • Microphone
  • Camera
Q. What type of card does OneBanc offer?
A. Card offered by OneBanc will be acceptable to make a transaction at any merchant. Your card can also be used with mobile payment providers. The sensitive details are not present on the card to ensure its safety if it is lost or mishandled. Apart from this, the card can be easily paused or blocked through the app and the app can be locked with two-factor authentication
Q. Can I use OneBanc card in other countries?
A. Yes, you can use your card anywhere and in case of international transactions it can easily be used and the settings for this can be changed with the help of OneBanc application.
Q. Who issues the OneBanc Card?
A. It’s a co-branded card in partnership with our RBI Licensed Partner Banks – Kotak Mahindra and Yes Bank.
Q. Is my money safe with OneBanc?
A. All money deposited through OneBanc is secure and safe as it lies with Kotak Mahindra Bank or Yes Bank, our Reserve Bank of India-governed partner bank. To top it off, we follow the requirements of Payment Card Industry Data Security Standard (PCI DSS). The sensitive details are not present on the card to ensure its safety if it is lost or mishandled. Apart from this, the card can be easily paused or blocked through the app and the app can be locked with two-factor authentication.
Q. What is your security policy?
A. Our top priority is protecting our members. We use 128-bit AES encryption, access control, and security processes to ensure your money is always safe with us. If you notice an unauthorized transaction, you can disable transactions on your OneBanc card immediately in the settings section of the OneBanc app to prevent any unauthorized card transactions.
Q. What are the roles and responsibiltes of NPCI?
A. Please find below roles and responsibiltes of NPCI:
  • NPCI owns ans operates the Unified Payments Interface (UPI) platform
  • NPCI prescribes rules, regulations, guidelines, and the respective roles, responsibiltes and liabilites of the participants, with respect to UPI. this also includes transaction processing and settlement, dispute management and clearing cut-offs for settlement
  • NPCI approves the participation of Issuer Banks, PSP Banks, Third Party Application Providers (TPAP) and Prepaid Payment Instrument issuers (PPIs) in UPI
  • NPCI provides a safe, secure and efficient UPI system and network
  • NPCI provides online transaction routing, processing and settlement services to members participating in UPI
  • NPCI can, either directly or through a third party, conduct audit on UPI participants and call for data, information and records, in relation to their participation in UPI
  • NPCI provides the banks participating in UPI access to system where they can download reports, raise chargebacks, update the status of UPI transactions etc.
Q. What are the roles and responsibiltes of PSP Bank?
A. Please find below roles and responsibiltes of PSP Bank:
  • PSP Bank is a member of UPI and connects to the UPI platform for availing UPI payment facility and providing the same to the TPAP which in turn enables the end-user customers / merchants to make and accept UPI payments
  • PSP Bank, either through its own app or TPAP’s app, on-boards and registers the end-user customers on UPI and links their bank accounts to their respective UPI ID.
  • PSP Bank is responsible for authentication of the end-user customer at the time of registration of such customer, either through its own app or TPAP’s app
  • PSP Bank engages and on-boards the TPAPs to make the TPAP’s UPI app available to the end-user customers
  • PSP Bank has to ensure that TPAP and its systems are adequately secure to function on UPI platform
  • PSP Bank is responsible to ensure that UPI app and systems of TPAP are audited to safeguard security and integrity of the data and information of the end-user customer including UPI transaction data as well as UPI app security
  • PSP Bank has to store all the payments data including UPI Transaction Data collected for the purpose of facilitating UPI transactions, only in India
  • PSP Bank is responsible to give all UPI customers an option to choose any bank account from the list of Banks available on UPI platform for linking with the customer’s UPI ID.
  • PSP Bank is responsible to put in place a grievance redressal mechanism for resolving complaints and disputes raised by the end-user customer
Q. What are the roles and responsibiltes of TPAP?
A. Please find below roles and responsibiltes of TPAP:
  • TPAP is a service provider and participates in UPI through PSP Bank
  • TPAP is responsible to comply with all the requirements prescribed by PSP Bank and NPCI in relation to TPAP’s participation in UPI
  • TPAP is responsible to ensure that its systems are adequately secure to function on the UPI platform
  • TPAP has to store all the payments data including UPI Transaction Data collected by TPAP for the purpose of facilitating UPI transactions, only in India
  • TPAP is responsible to comply with all applicable laws, rules, regulations and guidelines etc. prescribed by any statutory or regulatory authority in relation to UPI and TPAP’s participation on the UPI platform including all circulars and guidelines issued by NPCI in this regard
  • TPAP has to store all the payments data including UPI Transaction Data collected by TPAP for the purpose of facilitating UPI transactions, only in India
  • TPAP is responsible to facilitate RBI, NPCI and other agencies nominated by RBI/ NPCI, to access the data, information, systems of TPAP related to UPI and carry out audits of TPAP, as and when required by RBI and NPCI
  • TPAP shall facilitate the end-user customer with an option to raise grievance through the TPAP’s grievance redressal facility made available through TPAP’s UPI app or website and such other channels as may be deemed appropriate by the TPAP like email, messaging platform, IVR etc.
Dispute Redressal Mechanism
  • Every end-user customer can raise a complaint with respect to a UPI transaction, on the PSP app / TPAP app.
  • End-user customer can select the relevant UPI transaction and raise a complaint in relation thereto
  • A complaint shall be first raised with the relevant TPAP in respect to all UPI related grievances / complaints of the end-user customers on-boarded by the PSP Bank / TPAP (if the UPI transaction is made through TPAP app). In case the complaint / grievance remains unresolved, the next level for escalation will be the PSP Bank, followed by the bank (where the end-user customer maintains its account) and NPCI, in the same order. After exercising these options, the end-user customer can approach the Banking Ombudsman and / or the Ombudsman for Digital Complaints, as the case may be.
  • The complaint can be raised for both the types of transactions i.e. fund transfer and merchant transactions
  • The end-user customer shall be kept communicated by the PSP / TPAP by means of updating the status of such end-user customer’s complaint on the relevant app itself
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UPI