We would like to inform all our esteemed customers that as part of our KYC process, we need to update customer information periodically. Kindly submit the documents immediately whenever requested by the bank to enable us to provide uninterrupted service.
In addition to this, State Bank of India also requests for supporting documents at the transaction level. An indicative list of such transactions are below:
- Receipts and payments above USD 13,000 and MVR 200,000
- Deposit and withdrawals above USD 1000 and MVR 15,000 from a minor account
- High value transactions in an inactive/dormant account
- Transactions above the annual turnover/income declared by the account holder
- Purchase of USD and other foreign currencies
(Depending on the nature of the transaction, information requested may vary)
This information is provided for the convenience of all our customers. See the original Notice, Click here.