Post Office Savings Account (POSA) KYC Guidelines

Updated KYC Guidelines for Post Office Savings Account Holders

1.Instructions to ATM SOLS

Hence, the following instructions are issued for strict compliance by all the concerned. It is to reported by CBS CPC that Post Offices are sending forms with numerous regularities

a. In case of Minor and account operated by the child himself, the column should be filled as "Minor operated by Self"

b. In case of Minor and account operated by guardian, the column should be filled as "Minor operated by Guardian"

c. In case of Lunatic, fill the column as "Lunatic Account"

d. For single and joint accounts, fill with single or joint respectively

The Account type at the top of the form mentioned in the KYC sheet is being left blank fo SOLS. The account type field should be filled as under:

2. KYC forms should not be sent for scanning for which Photo and signature is already available in Finacle. Signature and photo availability should be checked in Finacle using IES menu before sending the form.

3. If the accounts are opened using existing CIF which are updated in Finacle, there is no need of sending KYCs for scanning.

4. In case if there is any change/mismatch in photo/signature or if the customer wants to update her/his latest photo then, such applications can be sent.

5. Only single sheet KYC form should be sent to CPC for scanning. Attachment such as Aadhar card, PAN card etc need not be sent.

6. CIF, Account number, Applicant Name should be written legibly with signature and photo against their details.

7. The photo and signature should be affixed/obtained as under:

a. In case of Minor account operated by guardian, signature and photo of the guardian is must.

b. If account operated by self (Minor) then minor photo and signature should be taken.

c. If the account holder is lunatic, guardian Photo and Signature is mandatory.

d. In case of Joint account, photo and signature of both the holders must be taken. Both CIF should be mentioned in KYC forms. Affix individual photo of Account holders against the CIF ID.

e. Guardian photo and signature is mandatory for SSA accounts

f. Swapping of photos/signatures are observed which should be avoided

g. In case of LTI, the same should be attested clearly with name and address of the witness.

h. Signature of the actual account holder (Minor/self/joint) should be taken below the declaration.

09. Single sheet KYC form should be filled completely with all the information duly signed by PM/SPM along with seal and date stamp. Incomplete KYC will be returned back

11. While doing Attestation on photo, Photo of account holder should be visible for scanning

12. KYC forms should be sent daily including all the Sub offices.

13. Mismatched/Incorrect images for the CIF may be deleted and verified in Finacle using MSSP Menu.

14. Signature in capital letters will not be accepted.

It is requested to convey the above instructions for strict compliance by all the offices concerned.