KYC full form: Know Your Customer

How to say it: letter by letter.

KYC stands for Know Your Customer. It is the check that a bank or financial company must carry out to confirm who a customer is and where they live, before opening an account and from time to time afterwards.

Why it is done

The rule exists to stop accounts being opened in false names and used for fraud or money laundering. In India the Reserve Bank of India and other regulators require it of banks, payment apps, mutual funds, insurers and stock brokers.

What it involves

You give proof of identity and proof of address from the list of officially valid documents, with a recent photograph. The company checks them against the originals or verifies them online.

Kinds of KYC you will hear about

• e-KYC: electronic KYC, done online using Aadhaar-based verification.
• Video KYC: verification over a live video call with an official.
• CKYC: Central KYC, a central record so that a customer verified once need not submit papers to every company again.
• Re-KYC: the periodic updating of your details.
• Full KYC and minimum KYC: wallets with only minimum KYC have lower limits.

Beware of "KYC update" messages

A very common fraud is a message or call saying "Your account will be blocked today, update your KYC" with a link or a number to call. Banks do not ask for KYC through links in messages, and they never ask for your PIN, password or OTP. Do KYC only at the branch, in the official app, or on the official website that you opened yourself.

Related full forms

• AML: Anti-Money Laundering.
• PAN: Permanent Account Number.
• OVD: Officially Valid Document.

More banking full forms

• GST Goods and Services Tax
• GSTIN Goods and Services Tax Identification Number
• TDS Tax Deducted at Source
• ITR Income Tax Return
• EMI Equated Monthly Instalment
• FD Fixed Deposit
• RD Recurring Deposit
• PPF Public Provident Fund

All banking, tax and money Next: PAN explained

Check what matters. These pages explain names and terms in general. Rules, dates, fees and limits change: take them from the official body. Read on 12 November 2026.