How To Get KYC Verification?
KYC stands for Know Your Clients and have become one of the important procedures in transactions. As per new rules and guidelines, It has become mandatory that banks and financial institutes should get their clients verified before processing their transactions.
The need for KYC cropped up because of the fact that government had to be sure of the identity of people carrying out the transactions. It is not an extremely cumbersome process as if you follow the details; you would be able to get the verification done with ease.
Here, we will list the different steps that would help you in getting your own KYC verification. It has become one of the mandatory steps as banks must be sure of the details of their clients before carrying out business with them. It is basically a security protection mechanism and it serves to make sure that people with wrong motive can be traced.
The first step in the process of getting your KYC done is to get the KYC form. The form is available with ease at a wide variety of different centers. You should first look at the different centers and point of service locations that provides you the form and then visit the nearest center and get the KYC form for yourself.
There are a few sites that provide these forms as well. So, you can choose to download the forms from such sites too. After you have got hold of the form, it is your duty to make sure that you read the different details thoroughly and then fill in the required particulars.
There are various documents that have to be submitted in order to clear the verification procedure. Basically, the main sets of documents that are required are as follows. You must carry your recent color photograph which should be of passport size. Further, you need to provide a copy of your Pan card which will be an identity proof for yourself. Along with these two things, make sure to carry an address proof as it will help the bank in verifying the place of stay. You can use your recent bank statement as your address proof.
You should submit the documents online at the right portal. From that portal itself, you can get the address of the CAMS office. You have to visit the office and show the papers and documents. You should make to a point to carry the original documents so that they can verify the details and thus check your credentials.
After the form has been received and the documents have been cross checked using the original statements, your form would be processed and you can visit the online portal to check the status of your application. Generally, in les than 24 hours, the status would be verified which means that your KYC check is almost complete.
You can also get an acknowledgement receipt for this entire procedure. However, the problem with KYC verification is that it has to be done for all subsequent investments. May be, in the near future this situation may change. However, this was the right way of obtaining a KYC clearance certificate.
There are no hassles associated with this method and you would be able to get your own credentials verified with ease. So, follow the steps and your financial transactions should be executed with ease.