MUMBAI, Apr 28: The Reserve Bank of India (RBI) has asked banks to allow intra-bank account portability in cases where full KYC (know your customer) details of the concerned account have been ascertained.
Banks are advised that KYC once done by one branch of the bank should be valid for transfer of the account within the bank as long as full KYC has been done for the concerned account, an RBI statement said.
This facility would enable the customers to shift their account to any of the desired branch, without any change in the account number.
The customer should be allowed to transfer his account from one
branch to another branch without restrictions.
It has been brought to our notice that some banks are insisting
on opening of fresh accounts by customers when customers approach them for transferring their account from one branch of the bank to
another branch of the same bank, it said.
Such insistence on opening of fresh account or making the customer undergo full KYC process again causes inconvenience to them resulting in poor customer service, it said.
In order to comply with KYC requirements of correct address of the person, fresh address proof may be obtained upon such transfer by the transferee branch, the statement added. (UNI)
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