Canara Bank customers have two options for re-KYC. Know Your Customer, or KYC, is a condition that banks, insurance companies, and other financial institutions impose on potential consumers before completing transactions.
Canara Bank KYC Form PDF Download
Banks must update client identity papers in their account holders’ databases on a regular basis, according to Reserve Canara KYC requirements (RBI). Based on the account holder’s risk profile, this might be caused by a major change in the customer’s profile or the type of transactions in the account.
What is KYC?
“KYC” stands for “Know Your Customer,” according to the Federal Bank FAQ on KYC. It is the procedure through which banks get information about their clients’ identities and addresses. This procedure aids in ensuring that banks’ services are not abused. Banks must complete the KYC procedure when creating accounts and update it on a regular basis.”
What is re-KYC?
According to the Union Bank of India website, “Canara has prescribed that customer identification data, including photograph shall be updated and kept on record duly verified at least once in ten years in case of Low Risk Customer, once in Eight years for Medium Risk customer and once in two years in case of High Risk Customers. This verification must be performed regardless of whether the account has been moved from one branch to another.”
- According to Canara Bank’s most recent tweet, clients may complete the re-KYC procedure by following a few easy steps.
- Re-KYC can be accomplished through mail or SMS (applicable to KYC-compliant consumers with no changes to their KYC information).
- According to the Canara Bank tweet, if your Customer ID is 1234567, this is how you may complete your re-KYC.
How to do re-KYC using mobile number
Send REKYCustomer ID to 56161.
Send SMS as REKYC 1234567 to 56161 from your registered mobile number.
How to do re-KYC through mail
Send RE KYC Customer ID as SUBJECT to firstname.lastname@example.org from your registered mail ID.