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PNB KYC update can be done both online and offline by customers. Punjab National Bank offers its registered customers the flexibility to update their KYC instantly, without any hassle. Many people are not aware of such methods related to banking KYC.
Key takeaways:
PNB KYC update is mandatory to give updated information to the bank.
PNB provides a diverse approach for customers to update their KYC.
KYC is a mandatory step every person needs to do in banking.
Why is KYC mandatory?
KYC is the Know Your Customer policy framed under the RBI master policy on KYC. It is a mandatory step one needs to follow in banking.
KYC protects the banking system from any type of crime, like money laundering, etc. It also enables banks to comply with regulatory and legal obligations in respect of KYC norms. The major purpose of KYC is to put in place customer identification procedures for opening accounts and monitoring transactions in accounts.
Hence, banks, including PNB, require periodic KYC updates based on the applicable risk category.
How to update PNB KYC online?
You need to download the PNB ONE app on your phone through the Android Play Store or the iPhone App Store. After this, you can update PNB KYC online instantly.
Here is the process to update PNB KYC online:
Phase 1:
Open the PNB ONE app and complete the registration.
Log in to the app
You will be directed to the home screen.
Search “KYC” in the search bar of the home screen.
You will see the option of “KYC status” pop up.
Click on the “KYC status” option.
Phase 2:
You will be shifted to the Chrome page consisting of 4 major steps to complete the KYC.
Click on the “Update KYC” option present on the same page.
Enter your customer or CIF ID.
Enter the displayed text into the column as it is.
Click on Continue.
An OTP will be sent to your registered mobile number.
Phase 3:
The KYC detail online modification page will open.
Select the profession activity.
Enter the annual amount.
Select your disability status.
Select the option for address details change.
Click on Continue.
Phase 4:
A page will open related to the communication address from Aadhaar.
Agree to the authorisation.
Click on Continue.
An OTP will be sent to your Aadhaar-linked mobile number.
Click OK and enter the OTP.
Click on Continue.
Phase 5:
A preview of your updated details will be shown to you.
Cross-verify the information and click on the checkbox presented on the same page related to your annual income.
Click on “Update KYC”
Do the final confirmation by clicking on “Yes – update my KYC”.
A message box will pop up on your screen showing that your KYC has been updated successfully.
Hence, this is how one can do the KYC update successfully online through the mobile banking app of PNB. Make sure all the details you provide are correct and up to date.
The "KYC details" page will open.
There will be an “Update KYC” option.
Enter the OTP
Click on Continue.
A page will open showing you the existing customer details.
There will be an option to change the existing KYC details with a yes or no option.
Click on the 'yes' option.
Click on Continue.
A page will appear showing you the communication address details.
Scroll down and select the option to change your communication address.
There will be two options, such as “get my address from CKYC” or “Aadhaar”
Select accordingly. For example, you select the Aadhaar card option.
A message will pop up showing "Aadhaar address fetched successfully”.
Click on Ok.
An option will be shown to you saying, 'Do you want to use the Aadhaar address as a communication address or not?'
Click on Yes
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How to do a PNB KYC update through an offline process?
One needs to visit the nearest PNB KYC bank branch and ask for a KYC update from the customer executive to get their KYC updated. Make sure you bring your original documents with you, like Aadhaar or PAN.
Here are the steps to do the PNB KYC update through the offline method:
Visit the nearest PNB Bank branch.
Ask the customer executive to guide the KYC update.
They will give you the specimen proforma for the KYC update form.
You need to fill in certain details, which are as follows:
Branch name and SOL ID section:
Branch Name and ID
First Name
Middle Name
Last Name
Customer ID
Account Number
CKYCR ID (if available)
b) Personal information:
Gender (M/F/T)
Date of Birth (DOB)
PAN Number / Form 60
Profession / Activity
Father’s Name
Mother’s Name
Annual Income
Expected Annual Credit
Spouse’s Name (if married)
c) Identity and address details:
OVD Type
OVD Number
OVD Issue Date
OVD Expiry Date
Residential Address (as per OVD)
District
State
PIN Code
Communication Address (if different from OVD)
d) Other details:
Aadhaar Authentication Consent (Yes/No)
Reference number if e-KYC is done.
Your signature with contact number and email ID.
There will be an acknowledgement block below, where you have to enter your name, customer ID, and current date.
Specimen Signature / Thumb Impression
e) Submit the filled-up form to the customer executive and wait for some days to get your KYC updated.
Hence, this is how you can update your KYC through offline mode at a PNB Bank branch.
Bottom line:
PNB Bank provides both online and offline methods to registered customers for KYC updates. It provides easy and instant steps to follow, but one needs to make sure that the information is accurate and up to date.
FAQs:
Does PNB Bank provide a drive approach to update the KYC?
Yes, PNB provides online and offline approaches to update the KYC.
What is the important thing one needs to make sure of while doing the KYC update by visiting a bank branch?
Make sure you have your important documents, like your Aadhaar card, etc., and that whatever information you fill in should be accurate and up-to-date.
Which app can we use for the PNB KYC update online?
You need to download the PNB ONE app to do the PNB KYC update online.
Is it mandatory to change the existing customer details in the PNB online KYC update?
No. It is not mandatory to change the existing customer details. Customers can select the ‘no change’ option if their KYC details remain unchanged.
What is the full form of PNB Bank?
The full form of PNB Bank is Punjab National Bank.
Which form will the customer executive provide for the KYC update in PNB Bank?
The customer executive will provide the specimen proforma for the KYC update form to the customer for the KYC update.
Why is a KYC update mandatory for all in banking?
KYC updates are mandatory because they protect the banking system from crimes like money laundering, etc. It also helps keep an eye on customers' transactions and monitor their activity in the account. In short, it is for security purposes.
Does the online PNB KYC update through mobile banking need any service charge?
No, an online KYC update through mobile banking does not require any service charge.
Is the KYC process mandatory for PNB-registered customers?
Yes, according to the RBI guidelines, the KYC process is mandatory.
Is it a difficult process to do the PNB KYC update?
No, it is not difficult, but it can be a lengthy process. PNB Bank provides a diverse approach for KYC updates to people through online and offline channels to mitigate this problem.
