Download KYC Guidelines for Post Office Savings Accounts in PDF
Instructions for KYC Compliance in Special Cases
To ensure proper documentation and compliance for Post Office Savings Bank (POSB) accounts, the following guidelines must be strictly adhered to:
1. Accounts Operated by Minors
Minor Operated by Self: If the account is operated by the minor themselves, the KYC form column should be filled as "Minor".
Minor Operated by Guardian: If the guardian operates the account, the column should state "Guardian".
2. Lunatic Accounts
For lunatic account holders, the account can be operated as Single or Joint.
In such cases, the guardian's photo and signature are mandatory.
3. Verification of KYC Forms
KYC Forms Not to be Scanned: Forms should not be sent for scanning if the photo and signature are already available in Finacle.
Verify availability using the IES menu in Finacle before dispatching the form.
No KYC for Updated CIFs: If the accounts are opened under existing CIFs already updated in Finacle, sending the KYC form is unnecessary.
Changes/Updates:
In case of a change/mismatch in the photo/signature or if the customer wants to update their photo, the application can be sent for scanning.
4. Submission of KYC Forms
Single-Sheet Form Only: Only the single-sheet KYC form should be sent to the CPC for scanning.
Attachments Not Required: Supporting documents such as Aadhar Card or PAN Card need not be sent.
5. Photo and Signature Guidelines
General Requirements:
The account number and applicant's name must be written legibly on the form.
Signature and photo should be affixed clearly against their respective details.
Specific Cases: a. Minor Account Operated by Guardian: Guardian's photo and signature are mandatory. b. Minor Operated by Self: Minor's photo and signature must be taken. c. Lunatic Account: Guardian's photo and signature are mandatory. d. Joint Account:
Photo and signature of both holders are required.
Both CIF IDs must be mentioned in the KYC form.
Individual photos of account holders must be affixed against their CIF ID. e. Sukanya Samriddhi Account (SSA): Guardian's photo and signature are mandatory.
6. Special Precautions
Photo and Signature Swapping: Avoid mismatches of photos/signatures.
Signature of the actual account holder (Minor/Self/Joint) should be taken below the declaration.
Capital Letters in Signatures: Signatures written in capital letters will not be accepted.
Visible Photos for Scanning: Ensure that the account holder's photo is visible and clear for scanning purposes.
7. Complete and Accurate Forms
The KYC form must be filled completely with all required information.
The form must be duly signed by the Postmaster/Sub-Postmaster (PM/SPM) with a seal and date stamp.
Incomplete KYC Forms: Any incomplete forms will be returned.
8. Daily Submission of KYC Forms
KYC forms, including those from Sub Offices, must be sent daily.
9. Handling Mismatched or Incorrect Images
Incorrect or mismatched images should be deleted and verified in Finacle using the MSSP Menu.
Conclusion
These guidelines are to be followed strictly for the seamless processing of KYC forms. Any lapses in compliance will lead to delays and unnecessary returns of forms. All offices are requested to convey these instructions for strict adherence.
