what do we need to do KYC to your transaction account ?
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Kyc is necessary to the bank account to know that account is continuing in the bank
sreeharsha007:
is not the correct answer
i need exact answer
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KYC stands for "know your customer"
The main purpose of KYC in banks is to prevent the misuse of banks by criminals or terrorists . It helps the bank officer to better understand the main motive of the client behind the money accessed , deposited or withdrawn by the account owner .
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