Federal Bank KYC Update - Online and Offline Process

The latest RBI norms mandate that all bank customers be KYC-compliant. The bank should obtain all your documents establishing your identity and address details. You also need to submit your recent photographs to the bank.

This blog will provide a comprehensive guide on completing Federal Bank KYC offline and online.

How to Update Federal Bank KYC Online?

You can follow these steps to accomplish a KYC update for Federal Bank:

• Step 1: Visit the official website of Federal Bank and navigate to ‘Customer Relations. ’
• Step 2: Next, select the option ‘Update KYC Details Online’.
• Step 3: You will be asked to enter the bank account number and CAPTCHA in the new window.
• Step 4: After feeding in the details, click ‘Submit. ’

You will be redirected to a new page where you must upload the latest copies of all the relevant documents. For instance, if you have moved to a new residence, ensure that you upload proof of the revised address. Then, you will receive an OTP, which needs to be entered in the appropriate field for confirmation.

How to Update Federal Bank KYC Offline?

If you are planning to complete KYC updation with Federal Bank offline, please follow these steps:

• Step 1: Call 04842630994/995.
• Step 2: After dialling, you must opt for general banking service by tapping 2 on your dialpad.
• Step 3: Press 0 to select ‘Self-service’.
• Step 4: Now, press 1 for a Federal Bank KYC update.
• Step 5: Mention your date of birth in YYYY format.
• Step 6: Cooperate with the bank representative to change the registered details. Otherwise, press 1 to confirm no change is needed.

After you update your KYC details in Federal Bank, an SMS confirmation is delivered to your account-linked phone number.   

ALSO READ: IDBI VKYC – IDBI vKYC Account Opening

Documents Required for Federal Bank KYC

Here, you can refer to the list of documents for the Federal Bank KYC update online:

1. For Individuals

1. ID proof documents (Aadhaar Card/Voter’s ID Card/NREGA Job Card/PAN Card)
2. Address proof documents (Utility Bills/Bank Statement/Passport)
3. Recent photographs

If you are a bank account holder in Assam, Meghalaya, or Jammu & Kashmir, you do not need to submit Aadhaar details. The same thing applies to NRIs.

2. For Companies

1. Certificate of Incorporation
2. Resolution submitted by the Board of Directors and PoA granted to company officers, managers, or employees to authorise transactions on their behalf.
3. Financial statements from the previous 3 years
4. Memorandum and Articles of Association
5. Legally valid document giving right to managers or officers holding an attorney to transact on its behalf

3. For Partnership Firms

1. Registration certificate
2. Partnership deed
3. Financial statements from the previous 3 years
4. Legally valid Power of Attorney granted to a person

4. For a Sole Proprietorship

1. Licences issued by the Registering authority include a Certificate of Practice issued by the Institute of Chartered Accountants of India, Institute of Company Secretaries of India, Institute of Cost Accountants of India, etc.
2. Any two government-issued documents, such as the VAT certificate, sales and income tax returns, registration certificate, certificate issued by service tax authorities, etc.
3. Complete IT return
4. Utility bills like internet bills, telephone bills, electricity bills, etc., in the name of the proprietorship

5. For Body of Individuals

1. Resolution of the managing body
2. Officially valid document in the name of the person holding Power of Attorney
3. Supporting documents establishing the legal existence of the body of individuals

6. For Trusts and Foundations 

1. Trust deed
2. Registration certificate
3. Legally valid Power of Attorney granted to a person

Documents Required for Minors - Federal Bank KYC

All minors maintaining a bank account must resubmit recent photographs to successfully update their Federal Bank KYC details via the official website upon turning 18. Otherwise, you can visit the nearest Federal Bank branch to submit the same.

Federal Bank KYC Rules & Regulations

As a responsible Federal Bank customer, you should know the key norms associated with bank KYC. These include:

1. Once you receive the custom KYC update notification, you must cooperate with the bank. This is for your interest in keeping the account balance safe.
2. All the documents required while opening the account must be resubmitted to establish your identity. 

The KYC rules can vary slightly between customers based on their profiles. If your profile is evaluated as a 'high-risk customer' due to persistent changes in phone number, address, etc., the bank may issue a KYC update request every 3 years. For low-risk profiles, a re-KYC done in 10 years is ideal.

ALSO READ: Bank of Maharashtra KYC Form – Update KYC Online

Federal Bank KYC Form  

In compliance with RBI's regulatory guidelines, all customers must fill out and submit the Federal Bank KYC update form accurately. Failure to undergo this verification process may result in the Federal Bank imposing specific restrictions on the customer’s banking activities. Download from here

Final Word

Federal Bank KYC is necessary to ensure smooth banking operations for all account holders. However, there can be some hesitation, especially if you are undergoing reKYC for the first time. Thus, you can follow this blog to complete the procedure or contact the nearest branch for related assistance.