If the bank account is 1 year old, do this soon, otherwise the account may be closed! | If the bank account is 1 year old, do this soon, otherwise the account may be closed

If the bank account is 1 year old, do this soon, otherwise the account may be closed! | If the bank account is 1 year old, do this soon, otherwise the account may be closed

In fact, KYC varies, according to which banks cater to customers. KYC updates are done keeping in mind the risks in the account. (If the bank account is 1 year old, do this soon, otherwise the account may be closed)

If the bank account is 1 year old, do this work soon, otherwise the account may be closed!

If the bank account is 1 year old, do this soon, otherwise the account may be closed!

New Delhi: Nowadays, the message of complete KYC is coming from the banks. It asks customers to get their KYC done soon, otherwise the account may be closed or blocked. The message sent by the banks states that they will have to go to the branch to update the KYC. On the other hand, customers are complaining that instructions are being given to at least exit in Corona, while banks are increasing the crowd by calling their customers to the branch. (If the bank account is 1 year old, do this soon, otherwise the account may be closed)

Canara Bank has sent a similar message to its customers stating that their accounts are pending as there is a clear instruction from the Reserve Bank for full KYC. If he wants to avoid opening or blocking the account, he has to go to the branch. That means customers need to go to the bank for full KYC. According to Canara Bank, if a customer’s account has been opened for 1 year and they have not completed full KYC, then this work must be done. If this does not happen, the account may be closed or blocked.

Miscellaneous KYC

In fact, KYC varies, according to which banks cater to customers. KYC updates are done keeping in mind the risks in the account. Some accounts should be updated after 2 years and some after 8 years. Canara Bank has asked to do full KYC for the account after 1 year, which is completely physical and all you have to do is go to the bank branch.

What to do for full KYC

In full KYC, proof of address and physical verification of customer identity will have to be done. Its instructions have been given by the Reserve Bank. Complete KYC is done for work like driving license, passport, PAN card. To complete the full KYC, you can complete the work with or without support. Biometric verification will be required if you are doing KYC through Aadhaar. If you are doing KYC without Aadhaar, you will have to submit all the documents yourself at the bank branch. If a customer does half KYC or limits KYC, his account is likely to be closed.

Half or e-KYC many shortcomings

Half KYC is also called e-KYC. This work is done online or electronically, hence the name e-KYC. This account will be opened in the bank soon. However, a limited number of facilities can be availed from this. People who have to shop online manage the work of the account through this KYC. This limited or half KYC has many shortcomings. For example, you cannot deal with large sums of money. No one can deposit more than Rs.1,00,000 in this account and add more than Rs.200,000 in a financial year. If you want the customer not to feel such a shortage, he should convert his half KYC into a full KYC. This requires physical verification at the bank branch. (If the bank account is 1 year old, do this soon, otherwise the account may be closed)

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