OnlinePassportPhoto.com proudly offers online passport photo service for KYC (Know Your Client) form photos. You can get 6 KYC photos for one low price of $8.
KYC is an acronym for "Know your Customer", a term used for customer identification process. It involves making reasonable efforts to determine true identity and beneficial ownership of accounts, source of funds, the nature of customer's business, reasonableness of operations in the account in relation to the customer's business, etc which in turn helps the banks to manage their risks prudently. The objective of the KYC guidelines is to prevent banks being used, intentionally or unintentionally by criminal elements for money laundering. KYC has two components - Identity and Address. While identity remains the same, the address may change and hence the banks are required to periodically update their records.
KYC (Know Your Customer) is important for investors who invest in Indian stocks, bonds and mutual funds, etc. This form is mandetory w.e.f. 1st January 2011 for all categories of investors to comply with KYC norms under the Prevention of Money Laundering Act 2002 (PMLA). Regitration of KYC is free of cost.
To register KYC form, you are required to have Permanent Account Number (PAN card- self attested photocopy), proof of address and a Photograph with size 30 x40mm.
SEBI has vide its circular
dated October 5, 2011 notified Uniform KYC Form and supporting documents
required to be used by all SEBI registered intermediaries (including
Mutual Funds) for new client accounts. The uniform KYC requirement is
effective from 1 January 2012. In view of the above, the KYC form to
be used by new investors for obtaining KYC compliance has been modified.
Accordingly, all new investors irrespective of their investment amount
will be required to adhere to the new KYC norms. With a view to bringing
about an uniformity in the KYC requirement and a mechanism for centralization
of the KYC records in the securities market, SEBI has vide its various
circulars viz. MIRSD/SE/Cir-21/2011 dated October 5, 2011, MIRSD/Cir-23/2011
dated December 2, 2011 and the SEBI (KYC Registration Agency) Regulations,
2011 mandated that an investor who deals with any of the SEBI registered
entities, viz. Depository Participants (DPs), Mutual Funds, Portfolio
Managers, etc. shall be required to fill the common KYC form and submit
the same along with the specified documents at the account opening stage
with any of the SEBI registered intermediaries ('Intermediary'). Investors
may download the Common KYC form here or approach any of the official
points of acceptance of transactions.
Useful link: KYC Requirement for Securities Market
Most Brokerage and banks ask for 30x40mm sized color photographs on KYC form. Here is an example of ICICI bank's KYC form which asks applicant to affix most recent colour photograph 30mm x 40mm and sign across the photograph.
Please note that Uniform Know Your Client (KYC) Requirements for the Securities Markets w.e.f 1 January 2012 guideline does not include any information about the photo size. Most brokers use the Common KYC forms which have no specific information about photo size. Hence please check with your financial institution if you are not sure about KYC form photo size. If they ask for 35x35mm sized photos, which is also a size for typical Indian passport photo, please visit this page and order your photos as Indian Passport photos.
IMPORTANT: Unless specified otherwise, for orders of KYC photos, we will create 30 x40mm sized photos.
First, make sure the photo you send us meets following requirements:
Light reflection from hair should not be visible.
Step 1: Upload Photos: If you have not uploaded yet, please click here to upload your photos
Step 2: Please click here to make payment with PayPal.
Step 3: Click here to let us know what size of photos are required by your KYC Application form. 2x2 or 35mmx35mm. Also, give us the address of your local Walgreens or Target if you want to pick up there within 24 hours at no additional charge. Click here to go to Contact Us form.
'Know Your Customer' (KYC) Guidelines - Anti Money Laundering Standards
Please refer to our circular DBOD. No. AML.BC.18/ 14.01.001/2002-2003 dated August 16, 2002 on the guidelines on 'Know Your Customer' norms. Banks were advised to follow certain customer identification procedure for opening of accounts and monitoring transactions of a suspicious nature for the purpose of reporting it to appropriate authority. These 'Know Your Customer' guidelines have been revisited in the context of the Recommendations made by the Financial Action Task Force (FATF) on Anti Money Laundering (AML) standards and on Combating Financing of Terrorism (CFT). These standards have become the international benchmark for framing Anti Money Laundering and combating financing of terrorism policies by the regulatory authorities. Compliance with these standards both by the banks/financial institutions and the country have become necessary for international financial relationships. Detailed guidelines based on the Recommendations of the Financial Action Task Force and the paper issued on Customer Due Diligence(CDD) for banks by the Basel Committee on Banking Supervision, with indicative suggestions wherever considered necessary are enclosed. Banks are advised to ensure that a proper policy framework on 'Know Your Customer' and Anti-Money Laundering measures is formulated and put in place with the approval of the Board within three months of the date of this circular. It may also be ensured that banks are fully compliant with the provisions of this circular before December 31, 2005.
2. While preparing operational guidelines banks may keep in mind the instructions issued in terms of our circular DBOD.AML. BC. No.83/14.01.001/2003-2004 dated May 12,2004 wherein banks were advised to treat the information collected from the customer for the purpose of opening of account as confidential and not divulge any details thereof for cross selling or any other purposes. Banks may, therefore, ensure that information sought from the customer is relevant to the perceived risk, is not intrusive, and is in conformity with the guidelines issued in this regard. Any other information from the customer should be sought separately with his /her consent and after opening the account.
3. Banks should continue to ensure that any remittance of funds by way of demand draft, mail/ telegraphic transfer or any other mode and issue of travelers' cheques for value of Rupees fifty thousand and above is effected by debit to the customer's account or against cheques and not against cash payment.
4. Banks should ensure that the provisions of Foreign Contribution and Regulation Act, 1976 wherever applicable are adhered to strictly.
5. These guidelines are issued under Section 35A of the Banking Regulation Act, 1949 and any contravention of or non-compliance with the same may attract penalties under the relevant provisions of the Act.
6. Once the policy framework is ready and implemented by a bank, the instructions issued vide this circular will supersede all instructions issued on 'Know Your Customer' and Anti-Money Laundering measures till date. Yours faithfully, ( Prashant Saran) Chief General Manager