Category: Finance & Money Matters

23 Dec 2023 14:06

Joined:	14/07/2021
Level:	Gold
Points:	566

Points:	5

Did you do the re-KYC process for your bank account?

Your bank will likely have sent you an email/SMS alert that you require to resubmit various documents for the KYC (Know Your Customer) process. Depending on how many years you have held the account(s) in the bank, the re-KYC request will be sent. So if you had the account for a shorter duration, then you would have got the instructions earlier than someone who is having the account for a longer duration. If you check out your monthly bank statement, then you may see the re-KYC month and year at the very top of the document. I am not sure if this is printed on the statement in the case of all bank accounts.

I have done the needful for my bank account. What about you?

There are also alerts about updating the Aadhaar Card. Do share your input about that as well.

#28387

25 Dec 2023 06:47

Joined:	21/07/2021
Level:	Gold
Points:	1199

Points:	5

We are getting information about re-KYC from the bank and accordingly we are submitting the documents or showing it to them and they do the update quickly.
Regarding Aadhar Card update there is online facility of updating the address but for other changes one has to go to the nearby Aadhar Centres which are generally available in the banks around and get it done.
I want to add one important point here regarding frauds and other evil operations going in the internet especially related to our bank accounts. There are some fraud emails which customers are receiving from fake sources which are asking for re-KYC and then taking the customer to some other site for doing it. People should be very careful about these emails and ignore them or report them to the bank or the cyber police station. These emails look very authentic as if they are coming from the bank itself but when we ask in the bank they say it is not from them.

#28390

25 Dec 2023 18:12

Joined:	29/01/2022
Level:	Silver
Points:	489

Points:	3

Yes, I have been receiving letter and mails from bank, insurance company and also from the shareholding agency. I have planned to visit the bank branch tomorrow which is inside our office premises, and complete the process.

In this connection, we have to be very careful. We must not share our PAN, AADHAR No. or OTP to anyone who offers to get it done on our behalf. This is one type of cyber fraud.

"Tera chehra kitna suhana lagta hain; Tere aage chand purana lagta hain"--Kaif Bhopali

#28392

27 Dec 2023 12:07

Joined:	14/07/2021
Level:	Gold
Points:	566

Points:	1

I concur with Umesh about fraud emails. You may get an email, complete with the bank logo, claiming that if the KYC has to be done again and to click on the link to complete the process. Do take care to check the email ID from where it has originated, and do not click on any link or share details with anyone. Instead, it is best to visit the bank branch in person and inquire whether genuinely the KYC is required to be done again. Some years back I had got such an email and since I noticed it was not the regular bank email, I ignored itand informed the bank manager as well.

#28393

27 Dec 2023 23:41

Joined:	15/07/2021
Level:	Silver
Points:	226

Points:	3

From time to time, banks do ask their customers to update their KYC details and it varies from bank to bank. Some offer the services online, for which you should have internet banking, while for others, you need to visit the branch. Both Umesh and Partha talked about fraud through various processes and indeed we have to be careful. For any confusion, one must contact the home branch. In case it is not possible immediately at least, one has to call their customer support to clear the confusion.

#28398

31 Dec 2023 14:18

Joined:	29/10/2020
Level:	Gold
Points:	824

Points:	4

I am directly in touch with my Bank Manager and I will be visiting the bank frequently. During such trips, I am completing the KYC process and keeping the account updated with the KYC information.
Many emails are coming and all of them are not reliable and we need not act upon those emails, I feel. Many times I even don't open such emails and I delete them to spam.
Aahaar Card renewal is not mandatory so far. There is time for renewing the same. The government has extended the date for renewal up to March 2024, I heard. But KYC is very important. One should not forget the same and the bank will also send you a reminder.


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Did you do the re-KYC process for your bank account?

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