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RBI Eases Address Proof Norms for Opening Bank Account
Jun 14, 2014

Migrant workers and transferred employees need to submit only one documentary proof of address (either current or permanent) while opening a bank account. In a notification, RBI said, “Henceforth, customers may submit only one documentary proof of address (either current or permanent) while opening a bank account or while undergoing periodic updation.” 

Change in address: In case the address mentioned as per ‘proof of address’ undergoes a change, fresh proof of address may be submitted to the branch within a period of six months. At present, if the address indicated on the document submitted for identity proof differs from the current address mentioned in the account opening form, banks have to obtain a separate proof of address. 


A rent agreement indicating the address of the customer duly registered with the State Government or a similar registration authority, may also be accepted as proof of address. 


In case the proof of address furnished by the customer is not the local address or the address where the customer is currently residing, the bank may take a declaration of the local address on which all correspondence will be made by the bank with the customer. 


No proof is required to be submitted for such address for correspondence/local address. 


Positive confirmation: This address may be verified by the bank through ‘positive confirmation’ such as acknowledgment of receipt of (i) letter, cheque books, ATM cards; (ii) telephonic conversation; (iii) visits,” it said. 


In case the address changes due to relocation or any other reason, customers may intimate the new address for correspondence to the bank within two weeks of such change.

 

 


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