SBI freezes customers' accounts for not updating KYC details! Check how to complete your KYC now

SBI has started freezing bank accounts of customers who haven’t complied with the lender’s Know Your Customer (KYC) norms till now.

New Delhi: State Bank of India (SBI), the country’s largest state-owned bank, has started freezing bank accounts of customers who haven’t complied with the lender’s Know Your Customer (KYC) norms till now. SBI told the customers about the move while responding to a bank customer on Twitter. The customer had complained that this account has been put on ‘stop’ as he hadn’t completed the KYC. 

“My account has been put on STOP because of KYC overdue. No one asked me for KYC so why the hell my account put on STOP mode. Is everyone fool in SBI?" an SBI customer named Gaurav Agarwal said in a tweet.

 Responding to Agarwal’s tweet, SBI said that customers are supposed to complete their KYC periodically. “As per RBI Mandate, customers supposed get their KYC updated periodically. Hence, customers whose KYC updates are due are notified through many channels, one of them being SMS, the bank said in its tweet. 

As per RBI Mandate, customers supposed get their KYC updated periodically. Hence, customers whose KYC updates are due are notified through many channels, one of them being SMS. Based on this notification one can either visit any of our Branches to update their KYC (1/2) — State Bank of India (@TheOfficialSBI) July 2, 2022

SBI further added that customers can visit any of the bank branches to update their KYC details. Customers can also send a copy to their branch email id via your registered mail id to get KYC done. 

“Based on this notification one can either visit any of our Branches to update their KYC details or send a copy for their KYC Documents to their Branch email id through your registered mail id (if the KYC details are unchanged)," SBI said in its tweet. 

Meanwhile, SBI also responded to another tweet by an NRI customer who complained that the individual isn’t able to transfer money. “We would like to inform you that KYC is an ongoing exercise conducted at regular intervals. It seems that your account is due for KYC, hence the message has been forwarded to you. Kindly visit the branch and get it done for the smooth functioning of the account," SBI said.

@TheOfficialSBI
My account money transfer is banned and it shows message "KYC non compliance"
Atleast call or mail to complete the KYC, but here SBI directly stopped transaction....
I am NRI... please guide how to complete KYC... — Ajit Wale (@wale_ajit) July 2, 2022