It has been
noticed by Reserve Bank of India (RBI) 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.
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 is not reasonable
in view of the fact that branches are now on CBS and KYC records of a
particular customer can be accessed by any branch of the bank. 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.
The customer
should be allowed to transfer his account from one branch to another branch
without restrictions.
In order to
comply with KYC requirements of correct address of the person, fresh address
proof may be obtained from him/her upon such transfer by the transferee branch.
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