federalbank.co.in : Update KYC Details Online Know Your Customer

Organisation : Federal Bank Ltd
Facility : Update KYC Details Online
Applicable For : Federal Bank Account Holders
Website : https://www.federalbank.co.in/home
Update Here : https://epay.federalbank.co.in/webkyc/Default.aspx?SOURCE=WEBSITE

Update KYC Details :

Please enter the following details to Update your Know Your Customer(KYC) data,
1. Enter Your Account Number
2. Click on the Submit button

Related / Similar Facility : Federal Bank Fed-e-Remit Outward Remittance Service

FAQs :
1. What is KYC? Why is it required?
KYC means “Know Your Customer”. It is a process by which banks obtain information about the identity and address of the customers. This process helps to ensure that banks’ services are not misused.

The KYC procedure is to be completed by the banks while opening accounts and also periodically update the same.

2. What are the KYC requirements for opening a bank account?
To open a bank account, one needs to submit a ‘proof of identity and proof of address’ together with a recent photograph.

3. Are banks required to categorise their customers based on risk assessment?
Yes, banks are required to classify the customers into ‘low’, ‘medium’ and ‘high’ categories depending on their AML risk assessment.
4. Do banks inform customers about this risk categorisation?
No

5. If I refuse to provide requested documents for KYC to my bank for opening an account, what may be the result?
If you do not provide the required documents for KYC, the bank may not be able to open your account.

6. Can I open a bank account with only an Aadhaar card?
Yes, Aadhaar card is now accepted as a proof of both, identity and address.

7. What is e-KYC? How does e-KYC work?
e-KYC refers to electronic KYC. e-KYC is possible only for those who have Aadhaar numbers.

While using e-KYC service, you have to authorise the Unique Identification Authority of India (UIDAI), by explicit consent, to release your identity/address through biometric authentication to the bank branches/business correspondent (BC).

The UIDAI then transfers your data comprising name, age, gender, and photograph of the individual, electronically to the bank/BC.

Information thus provided through e-KYC process is permitted to be treated as an ‘Officially Valid Document’ under PML Rules and is a valid process for KYC verification.

8. For which banking transactions do I need to quote my PAN number?
PAN number needs to be quoted for transactions, such as, account opening, transactions above Rs.50,000 (whether in cash or non-cash), etc. A full list of transaction where PAN number needs to be quoted can be accessed from website of Income Tax Department

9. Whether KYC is applicable for Credit/Debit/Smart/Gift cards?
Yes. Full KYC exercise is necessary for Credit/Debit/Smart/for purchaser of Gift Cards and also in respect of add-on/ supplementary cards.

10. I do not have a bank account. But I need to make a remittance. Is KYC applicable to me?
Yes. KYC exercise needs to be done for all those who want to make domestic remittances of Rs. 50,000 and above and all foreign remittances.

11. Can I purchase a Demand Draft/Payment Order/Travellers Cheque against cash without KYC?
Demand Draft/Payment Order/Travellers Cheques for Rs.50,000/- and above can be issued only by way of debiting the customer’s account or against cheques.