Most of the institutions in the country do KYC of their customer before starting financial transactions, that is, they want to know their customer well.
New Delhi: To open an account in a bank or start many other important work, it is very important to get KYC done. KYC means ‘Know Your Customer’. It simply means ‘Know your customer’.
Most of the institutions in the country do KYC of their customer before starting financial transactions, that is, they want to know their customer well.
At present, many organizations are doing different types of KYC, such as Full KYC, Half KYC, E KYC and Video KYC.
If you are going to get driving license, PAN card or passport, then for this you will have to do full KYC.
You can do full KYC with Aadhaar and without Aadhaar also.
How is full KYC done through Aadhaar?
If you are going to get KYC done in any institution like bank, then you will have to give your biometric details along with Aadhaar. If you want to do full KYC without Aadhaar, then you will have to go to the bank and submit all the documents to the appointed officer.
Know what is Half KYC
Let us know what is Half KYC. It is also called minimum KYC. It is also known as e-KYC. You can also do e-KYC or half KYC sitting at home. For this you have to follow very easy steps. In this, you will have to submit some documents online.
For e-KYC or Half KYC, all you need is Aadhar card or PAN card number.
Under e-KYC or half KYC, your details are verified through otp.
What are the benefits of Half KYC
If you are a new customer, then Half KYC is very beneficial for you. If you want to open a bank account in a few minutes, then you can do so through e-KYC e-KYC or half KYC. You can also take advantage of Half KYC for online bill payment or online purchase of goods.
Through Half KYC, you can get a virtual card from the bank and use it for online shopping.
What are the disadvantages of Half KYC
You may also have to bear some losses if you get half KYC done. You cannot keep more than one lakh rupees in the bank account opened through Half KYC. You cannot add more than two lakh rupees in this account in a year.
You can use the bank account opened through Half KYC only throughout the year. If you want to use this account after one year, then for this you will have to do full KYC.
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