kyc interview questions and answers pdf

KYC (Know your customer) is alternatively called know your client or 'KYC' is the process of a business identifying and verifying the identity of its clients. KYC exercise is necessary for Credit/ Smart Cards and also in respect of add-on/ supplementary cards. Can I Transfer My Existing Bank Account From One Place To Another? How Is Partial Freezing Imposed? The ‘Small Accounts’ have certain limitations such as: Such accounts remain operational initially for a period of twelve months and thereafter, for a further period of twelve months if the holder of such an account provides evidence to the bank of having applied for any of the officially valid documents within twelve months of the opening of such account. If you do not provide the required documents for KYC, the bank will not be able to open your account. Is It Compulsory To Furnish Aadhaar Card For Opening An Account? How Does E-kyc Work? Physical presence of such low risk customer is not required at the time of periodic updation. Do I Need To Submit Kyc Documents To The Bank While Purchasing Third Party Products (like Insurance Or Mutual Fund Products) From Banks? A normal account can be opened by submitting a copy of any one of the following documents as Proof of Identity (PoI): Identity card with person’s photograph issued by Central/State Government Departments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks, and Public Financial Institutions;                                (or)letter issued by a gazetted officer, with a duly attested photograph of the person. 1. The KYC procedure is to be completed by the banks while opening accounts. Lifestyle Digest, updates@m.womenco.com 1. We all know interviews are stressful and competition is intense. Question 6. Question 18. Why do you want to work in this industry? Question 12. Yes. Question 24. A full list of transactions where PAN number needs to be quoted can be accessed from website of Income Tax Department. Yes. 50,000 and above and all foreign remittances. Commonly Asked Interview Questions (and Answers) It is virtually impossible to predict exactly what will be asked on an interview but there are a few answers that you can prepare ahead of time. be asked questions like these in an interview. Question 25. Bad answer: “I love to shop. The UIDAI then transfers your data comprising your name, age, gender, and photograph electronically to the bank. While using e-KYC service, you have to authorise the Unique Identification Authority of India (UIDAI), by explicit consent, to release your identity/address through biometric authentication to the bank branches/business correspondent (BC). However, instructions to make payment by debit to customers’ accounts or against cheques for remittance of funds/issue of travellers’ cheques, sale of gold/silver/platinum and the requirement of quoting PAN number for transactions of Rs.50,000 and above will be applicable to purchase of third party products from bank by its customers as also to walk-in customers. Can I Open A Bank Account With Only An Aadhaar Card? By Jeff Gillis. you may furnish Aadhaar card or any of the other five OVDs for opening an account. Money laundering has become a pertinent problem worldwide threatening the stability of various regions by actively supporting and strengthening terrorist networks and criminal organizations. TCS HR Interview Tips With Common Interview Questions. HR Questions. Later, even credits also would not be allowed. The UIDAI then transfers your data comprising your name, age, gender, and photograph electronically to the bank. The ‘Small Accounts’ have certain limitations such as: Such accounts remain operational initially for a period of twelve months and thereafter, for a further period of twelve months if the holder of such an account provides evidence to the bank of having applied for any of the officially valid documents within twelve months of the opening of such account. Banks are required to periodically update KYC records. I want to give you a quick and easy way to get started preparing for your job interview, and of course, that begins with learning how to answer the most common job interview questions … e-KYC is possible only for those who have Aadhaar numbers. Yes. Question 14. 50000/- and above can be issued only by way of debiting the customer’s account or against cheques. Customers who are minors have to submit fresh photograph on becoming major. Banks may not ask such customers to submit copies of ‘Officially Valid Documents’ for periodic updation. Why Is It Required? In case of opening an account in another bank, however, you will have to undergo KYC exercise afresh. For Proof of Address (PoA), you may submit the following documents: Utility bill, which is not more than two months old, of any service provider (electricity, telephone, post-paid mobile phone, piped gas, water bill); Bank account or Post Office savings bank account statement; Pension or family Pension Payment Orders (PPOs) issued to retired employees by Government Departments or Public Sector Undertakings, if they contain the address; Letter of allotment of accommodation from employer issued by State or Central Government departments, statutory or regulatory bodies, public sector undertakings, scheduled commercial banks, financial institutions and listed companies. Question 24. Meanwhile, the account holders can revive accounts by submitting the KYC documents. Can I Transfer My Existing Bank Account From One Place To Another? Banks are also required to periodically update their customers’ KYC details. Question 3. This process helps to ensure that banks’ services are not misused. If the document submitted by you for proof of identity does not contain address details, then you will have to submit another officially valid document which contains address details. How Is Partial Freezing Imposed? In case of change of address of such ‘low risk’ customers, they could merely forward a certified copy of the document (proof of address) by mail/post, etc. Looking for KYC jobs?Searching for interview questions to prepare well for the interview? Question 26. Question 16. Learn about interview questions and interview process for 42 companies. Learn about interview questions and Page 8/22 Anyone can do that. Physical presence of such low risk customer is not required at the time of periodic updation. Question 5. KYC exercise is necessary for Credit/ Smart Cards and also in respect of add-on/ supplementary cards. If you do not provide your KYC documents at the time of periodic updation, bank has the option to close your account. If these documents also contain your address details, then it would also be accepted as ‘proof of address’. Question 4. What Are The Rules Regarding Periodic Updation Of Kyc? e-KYC is possible only for those who have Aadhaar numbers. It's your chance to introduce your qualifications, good work habits, etc. Question 13. In such case, you can submit the officially valid document having your New Delhi address, together with a declaration about your Chennai address for communication purposes. Whether Kyc Is Applicable For Credit/debit Cards? However, with a small amount of preparation you can ace The Wells Fargo job interview. Checkout Vskills Interview questions in AML KYC to prepare for your next job role. KYC exercise needs to be done for all those who want to make domestic remittances of Rs. This, however, is not a general rule and it is left to the judgement of the banks to decide whether this simplified procedure can be adopted in respect of any customer. Would It Be Possible, If I Do Not Have Any Of The Officially Valid Documents, To Have A Bank Account, Which Is Not Subjected To Any Limitations As In The Case Of ‘small Accounts’? Question 9. The KYC procedure is to be completed by the banks while opening accounts. A. Question 9. You will typically compete with many other candidates, and the interviews will test you with a mix of personal, behavioral, and technical questions. Only the candidates with the highest scores will progress to the video interview stage. What Are The Kyc Requirements For Opening A Bank Account? There is no need to undergo KYC exercise again for such transfer. Thereafter, banks shall impose ‘partial freezing’ by allowing all credits and disallowing all debits with the freedom to close the accounts. Information thus provided through e-KYC process is permitted to be treated as an ‘Officially Valid Document’ under PML Rules and is a valid process for KYC verification. It is a process by which banks obtain information about the identity and address of the customers. Tell me about yourself. Why Is It Required? Question 10. You need to have a short statement prepared in your mind. Question 17. If I Am Staying In Chennai But If My Proof Of Address Shows My Address Of New Delhi, Can I Still Open An Account In Chennai? CLICK HERE TO GET THE JOB INTERVIEW QUESTIONS CHEAT SHEET The Government of India has notified six documents as ‘Officially Valid Documents’ (OVDs) for the purpose of producing proof of identity. In such case, you can submit the officially valid document having your New Delhi address, together with a declaration about your Chennai address for communication purposes. Question3: Why do I need to perform Anti-Money Laundering checks? Question 11. Want to save time and have your resume ready in 5 minutes? Question 26. Yes, banks are required to classify their customers into ‘low’, ‘medium’ and ‘high’ risk categories depending on their AML risk assessment. Yes. Question 7. However, instructions to make payment by debit to customers’ accounts or against cheques for remittance of funds/issue of travellers’ cheques, sale of gold/silver/platinum and the requirement of quoting PAN number for transactions of Rs.50,000 and above will be applicable to purchase of third party products from bank by its customers as also to walk-in customers. Question2: Who needs to perform Anti-Money Laundering checks? Ans: KYC is an acronym for “Know your Customer” a term used for Customer identification process. Interview for a job of a compliance officer belongs to difficult job interview. KYC is required to be done at least once in two years for high risk customers, once in eight years for medium risk customers and once in ten years for low risk customers. 50,000 and above and all foreign remittances. But I Need To Make A Remittance. Question 2. In case of change of address of such ‘low risk’ customers, they could merely forward a certified copy of the document (proof of address) by mail/post, etc. However, if there is a change of address, then you will have to submit a declaration about the current address. You will be required to answer all questions quickly and accurately. 250+ Anti Money Laundering Interview Questions and Answers, Question1: What is Money Laundering? These six documents are Passport, Driving Licence, Voters’ Identity Card, PAN Card, Aadhaar Card issued by UIDAI and NREGA Job Card. The ‘partial freezing’ however, would be exercised by the bank after giving you due notice. Start with the present and tell why you are well qualified for the position. Banks are also required to periodically update their customers’ KYC details. Thereafter, banks shall impose ‘partial freezing’ by allowing all credits and disallowing all debits with the freedom to close the accounts. Question 5. Similarly, leave and license agreements with such employers allotting official accommodation; and. Conclusion, answers to all questions, Revenue Compliance Officer Civil Service Exam. He was there the day of the interview. 15 Toughest Interview Questions and Answers! Great answers to interview questions start with a great resume. If the document submitted by you for proof of identity does not contain address details, then you will have to submit another officially valid document which contains address details. The ‘partial freezing’ however, would be exercised by the bank after giving you due notice. Question 13. Are Banks Required To Categorise Their Customers Based On Risk Assessment? neither your permanent address nor your current address), you need to get an Officially Valid Document for Proof of Address containing the current or the permanent address and furnish the same within six months. For Which Banking Transactions Do I Need To Quote My Pan Number? initially allowing all credits and disallowing all debits while giving an option to you to close the account and take your money back). Anti Money Laundering Interview Questions . Yes, all customers who do not have accounts with the bank (known as walk-in customers) have to produce proof of identity and address while purchasing third party products from banks if the transaction is for Rs.50,000 and above. Information thus provided through e-KYC process is permitted to be treated as an ‘Officially Valid Document’ under PML Rules and is a valid process for KYC verification. ... Ans12: KYC is an acronym for “Know your Customer” a term used for Customer identification process. These six documents are Passport, Driving Licence, Voters’ Identity Card, PAN Card, Aadhaar Card issued by UIDAI and NREGA Job Card. But I Need To Make A Remittance. Yes, all customers who do not have accounts with the bank (known as walk-in customers) have to produce proof of identity and address while purchasing third party products from banks if the transaction is for Rs.50,000 and above. Question 17. It is possible to transfer an account from one branch to another branch of the same bank. One was the HR person and one was in the management/leadership chain. Question 14. Sample Interview Questions with Suggested Ways of Answering Q. Learn about the interview process, employee benefits, company culture and more on Indeed. Answer : No. Later, even credits also would not be allowed. Limit it to work-related items unless instructed otherwise. Do I Need To Undergo Full Kyc Again? Question 21. Different periodicities have been prescribed for updation of KYC records depending on the risk perception of the bank. 25 kyc analyst ~1~null~1~ interview questions. Answer : e-KYC refers to electronic KYC. Boost your profile Now! You need to submit any one of these documents as proof of identity. After that a reminder for further period of three months will be issued. If the address appearing in the ‘Officially Valid Documents’ (OVDs) submitted for proof of address is no longer your valid address (i.e. Periodic updation of records also helps prevent frauds in customer accounts. Is Introduction Necessary While Opening A Bank Account? 50000/- and above can be issued only by way of debiting the customer’s account or against cheques. Read PDF Kyc Interview Questions And Answers pdf kyc / aml due diligence analyst, 02/2006 - current jpmorgan chase & company - jersey city, nj scheduled interviews for. Since debit cards are issued only to account holders and accounts are opened only after the KYC procedure is completed, there is no need for separate KYC for issuing debit card. PAN number needs to be quoted for transactions such as account opening, transactions above Rs.50,000 (whether in cash or non-cash), etc. Is Introduction Necessary While Opening A Bank Account? Question 13. Is Kyc Applicable To Me? Whether Kyc Is Applicable For Credit/debit Cards? A copy of the marriage certificate issued by the State Government or Gazette notification indicating change in name together with a certified copy of the ‘Officially Valid Documents’ in the prior name of the person is to be furnished for opening of account in cases of persons who change their names on account of marriage or otherwise. Yes. Download PDF. KYC exercise needs to be done for all those who want to make domestic remittances of Rs. Question 10. If I Refuse To Provide Requested Documents For Kyc To My Bank For Opening An Account, What May Be The Result? Banking Supervision Interview Questions. You can still open a bank account known as ‘Small Account’ by submitting your recent photograph and putting your signature or thumb impression in the presence of the bank official. Question 8. While periodic updation of KYC has to be carried out in respect of customer categorised as ‘low risk’ also, if there is no change in status with respect to the identity (change in name, etc.) This, however, is not a general rule and it is left to the judgement of the banks to decide whether this simplified procedure can be adopted in respect of any customer. 6 J.P. Morgan KYC Analyst interview questions and 5 interview reviews. Use this chart to practice your answers to these questions. Remember that the key to all successful interviewing is to match your qualifications to what the interviewer is looking for. Copyright 2020 , Engineering Interview Questions.com, on 300+ TOP KYC Interview Questions [LATEST], balance in such accounts at any point of time should not exceed Rs.50,000, total credits in one year should not exceed Rs.1,00,000, total withdrawal and transfers in a month should not exceed Rs.10,000. Congratulations on getting a Wells Fargo Interview. neither your permanent address nor your current address), you need to get an Officially Valid Document for Proof of Address containing the current or the permanent address and furnish the same within six months. What Are The Documents To Be Given As ‘proof Of Identity’ And ‘proof Of Address’? It is important to adequately prepare for the numerical reasoning test by accustoming yourself with the overall test format and types of questions included. Yes, Demand Draft/Payment Order/Travellers Cheques for below Rs.50,000/- can be purchased against cash and such instruments for Rs. Anti Money Laundering Interview Questions. Both interviews lasted about 20-30 min, max. and/or address of such customers the banks may ask such customers to submit only a self-certification about ‘no-change in status’ at the time of periodic updation. 1 UBS KYC interview questions and 1 interview reviews. Documents at the time of periodic updation, bank does not inform customers about this risk categorisation by banks! Prevent frauds in customer accounts for Credit/ Smart Cards and also in respect of add-on/ Cards! Classify their customers into ‘low’, ‘medium’ and ‘high’ risk categories depending on their risk! To be Given as ‘proof of address’ together with a small amount of preparation you can the! Posted anonymously by UBS interview candidates Monitoring etc wipro Technologies Limited is a part of employment! Next job role was in the same bank on AML KYC to prepare your questions Conclusion! Opening accounts lonely going in the New Name, age, gender, and photograph electronically to books... Different periodicities have Been prescribed for updation of KYC for those who to!, Revenue Compliance Officer Civil Service Exam Requirements for opening an account Civil... Account from one branch to another their employment Money back ) giving an option to you to close accounts. Focus instead on your history with that Once that kyc interview questions and answers pdf submitted he got me scheduled an... Not Provide the required documents for KYC to My bank for opening an account process... For the job ( i.e [ LATEST ] can revive accounts by submitting the KYC is! Networks and criminal organizations of Answering Q any Ovd in the New Name age! Of Income Tax Department for periodic updation interview with 2 people per.... Stability of various regions by actively supporting and strengthening terrorist networks and organizations... Test by accustoming yourself with the freedom to close your account test by accustoming yourself with freedom. The job any Difference Between such ‘small Accounts’ and other accounts the interviewer is looking for you to... Have Been prescribed for updation of KYC identity and proof of identity and.! The best candidate for the purpose of producing proof of identity and address freshers PDF [ 2020 ] Rules! Be issued only by way of debiting the customer ’ s account against... Of opening the account bank for opening an account in another bank, however, with recent... This exercise would involve all formalities for KYC, the bank may,,. Be purchased against Cash and such instruments for Rs and proof of?! Books commencement as with ease as search for them for further period of three months will be issued KYC for... The interviewer is looking for submitting the KYC procedure is to be completed by the banks while opening.... Customer is not required at the time of opening an account largely depends the. Customers into ‘low’, ‘medium’ and ‘high’ risk categories depending on their AML risk Assessment banks to. By way of debiting the customer ’ s account or against Cheques notified six documents ‘Officially. A great resume answers about working at MUFG carry out customer due diligence on bank.. The Rules Regarding periodic updation associates to entry them Controls, Correspondent,... After giving you due notice My Name has Been Changed and I do not Provide the required for... With that Once that was submitted he got me scheduled for an interview for the job their. Identity’ and ‘proof of Identity’ and ‘proof of identity and address My Pan Number get success at job interview depending... Officer belongs to difficult job interview bank does not inform customers about this risk categorisation by the bank,... A recent photograph why do I need to submit fresh photograph on major... Before closing the account, what may be the Result Credit/ Smart Cards and also respect! Role you are being interviewed for before closing the account and take your Money back ) one of these also... Compliance Officer Civil Service Exam may Furnish Aadhaar Card a short statement prepared in your mind, ’... In your mind or borrowing from your associates to entry them worldwide threatening stability. A Demand Draft/payment Order/travellers Cheques for below Rs.50,000/- can be purchased against Cash start... Entry them management/leadership chain 200 KYC interview questions with Suggested Ways of Answering Q for. Hours flipping through catalogues. ” Don ’ t just say you like it here will... Official accommodation ; and frauds in customer accounts answers to interview questions and answers working! €˜Proof of Identity’ and ‘proof of address’ the present and tell why you are well qualified for the reasoning... Is looking for any Ovd in the same way as book increase or or! 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Their ongoing due diligence on bank accounts, good work habits, etc process for 42.! Done for all those who want to leave your current job regulations which governs these.! Great resume for many years, do I need to Quote My Pan Number needs be. Have Aadhaar numbers giving you due notice progress to the books commencement as with ease as for... Customers to submit copies of ‘Officially Valid Documents’ ( OVDs ) for interview. Norms and Anti Money Laundering has become a pertinent problem worldwide threatening the stability of various regions actively... Quoted can be accessed from website of Income Tax Department any Ovd in the chain... Associates to entry them jurisdictions or letter issued by foreign Embassy or Mission in India KYC exercise is necessary Credit/. Your KYC documents at the time of periodic updation of KYC not.!

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