Don’t forget to update your personal information

K. Aravind

Care should be taken to update the KYC (Know Your Customer) details when changing jobs and moving to another city. Documents relating to deposits, insurance, banking transactions, etc. should be updated as soon as possible in order to be received at the new address.

You should remember to update the changes in your email and phone number. Since most communications are by phone and e-mail, if this is not updated, you may miss out on a lot of important information.

Recently, mutual funds have been sending investment statements to investors. If you have a demat account, you can list mutual funds, stocks and other products listed on one of the National Securities Depository Limited (NSDL) and other Depository Accounts and other Depository Bond, and May be received regularly by mail. Therefore, if there is a change in the e – mail address to receive it without delay, be sure to update it immediately.

The KYC Update Form can be downloaded from the website camskra.com. You can fill this form and submit it to the office of the mutual fund or to the office of the depository party such as a bank or stock broker. You need to approach the institution with the deposit or demat account to submit the application.

Mutual funds can approach the Registrar who provides these services to submit the KYC form. Applications can be submitted to the offices of Computer Age Management Services (COMS) and Carvey Computershare.

Changes to mobile numbers can be recorded when KYC is updated. In doing so, some fund houses will retain both the numbers if you have previously provided another mobile number. Some fund houses may only record the newly issued number or e-mail address. At the same time, if there is a change in the address, only the new one will be kept in the records.

Many people think that once KYC submits, it can be forgotten. But updating every change accurately is essential if we are to be able to know our financial transactions accurately.