All You Need To Know About KYC
Financial institutions around the world mostly use KYC as it helps them to be able to identify theft. It is an important thing to consider having in a kind of business where you are dealing mostly with a lot of money every day. That is because people working there are dealing with a lot of people in money transactions, and they can easily be fooled by people who do not have good intentions.
To become a KYC compliant then you will need to have met some qualifications. First to apply then you will need to have their form and complete the things that are supposed to be filled in there. Read more about ID Verification from aml search
. You also have to submit a letter from your employer, identification card of your country of birth, driving license and a passport. If you are planning to send the documents by yourself, then you will have to come with the originals together with the copies of all the original documents. After they have already looked at every record and they have found that they are okay then they will return you all the original documents to you. In case it happens that one of the papers has a problem then they will explain to you the issue, and they will give you back both the originals and the copies of the document, so you can go and do the changes then you can come back when they are as they want.
You will not have to pay for anything when you are making the KYC verification. Click id verification
to read more. If you are sending your documents through a courier, then the papers will have to be attested by the manager of the scheduled commercial bank. Ensure that all the documents that you will be submitted are in English that is because most of the countries the official language is English and that will make it easier for them to understand what is there.
To be able to know if you were qualified for the application or not then you have to log in to AML website and put your PAN card number and you will see if it is still under process, completed or rejected. The process is so simple therefore it should not be something that is giving you a headache. Once you are KYC compliant through AML, then you don't need to go through the process again as the KYC can be sent to different mutual friends. learn more from https://en.wikipedia.org/wiki/Identity_verification_service