Learn Sidra Bank KYC Requirements and Updates ? Easy 7 Steps Guide

What is Sidra Bank KYC?

Sidra Bank KYC stands for "Know Your Customer." This is how Sidra Bank makes sure that its customers are who they say they are. This step is needed by law and helps Sidra Bank stop financial crimes like laundering money and giving money to terrorists.

Sidra Bank KYC Requirements:

Customers of Sidra Bank will need to give the following information in order to finish Sidra Bank KYC.
  • Name
  • Date of birth
  • Address
  • ID from the government, like a passport or driver's licence
  • ID that shows you make money (like a bank account or pay stub)

Sidra Bank may also ask customers for extra details, like what they do for a living or their work history.

How Sidra Bank Verify the Information Given By the Customers for KYC?

Sidra Bank will check the information users give them against many sources, like government databases and credit bureaus, once they have given it. If Sidra Bank can't confirm that the customer is who they say they are, they may not be able to use any of their goods or services.

The Sidra Bank KYC process is only done once, when a person opens an account for the first time. Sidra Bank may, however, check customer information from time to time to make sure it is still correct and up to date.

Why is Sidra Bank KYC necessary?

KYC for Sidra Bank is crucial/necessary for several reasons. 

In the first place, it aids Sidra Bank in combating financial crimes like financing of terrorism and money laundering. Sidra Bank can make it more difficult for criminals to use the bank to launder money or finance terrorist activities by requiring customers to provide identification.

Second, Sidra Bank KYC aids in defending clients against deception. Sidra Bank can make it more difficult for fraudsters to open accounts in other people's names or to steal money from customers' accounts by requiring identity verification of its clients.

Third, the law mandates Sidra Bank KYC. As part of their duties to prevent money laundering and the funding of terrorism, financial institutions are mandated in many nations to confirm the identity of their clients.

Easy Sidra Bank KYC Tutorial: A Step-by-Step Guide

Follow these steps carefully to complete your Sidra Bank KYC today: 

1. Open the SIDRA BANK app and log in.



2. Scroll down and click the "Update Your Information" button below the "Profile" button in the bottom right area.



3. It will take you to the KYC port, At the top right, click the "Menu" button. Then, click on "KYC Documents" to add your files.



4. Upload your proof of identity and wait for acceptance.


5. After you send the file, wait a few minutes and then try again.


6. Click "Uncompleted" to begin filling in the blanks.



If the OCR picture is wrong, please make sure you pick the right one.

To do this, click on the image section of the necessary fields and crop to the right part of the ID card.

Please change the number if it's wrong.

Type in the right first name, last name, date of birth, ID number, address, etc. in the fields that ask for them.

If your ID card doesn't have a signature or an expiration date, leave those areas blank.

7. In all forms, click "Confirm" to make sure the data is correct, and make sure you pick the right word or number for each field. 


8. If it says "Completed," that means you're done, but you still need to verify your work by taking selfies with the front and back of your ID card and uploading them.

NOTE: You may get an email with a link that will unlock your kycport.com account. Make sure you check your inbox, junk, and spam folders.

Conclusion:

KYC helps Sidra Bank avoid financial crime, safeguard consumers from fraud, and comply with laws. All Sidra Bank customers must complete KYC via the mobile app. KYC is crucial for Sidra Bank and its customers. KYC helps Sidra Bank avoid financial crime, protects you from fraud, and provides additional benefits.

FAQs

Who must finish the KYC process at Sidra Bank?

Every Sidra Bank client must finish the KYC procedure. This covers both private and business clients.

Which papers are needed for the KYC process at Sidra Bank?

The particular documents needed for your Sidra Bank KYC will change based on the kind of customer you are. Still, a few standard documents are as follows:

  • ID granted by the government (such as a driver's licence or passport)
  • Evidence of address, such as a utility bill or bank statement
  • Evidence of income (pay stubs, bank statements, etc.)

Additional documentation, such as a copy of your articles of incorporation or employment contract, may also be requested by Sidra Bank.

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