Who Is A Customer?

1.	Who Is A Customer?
Answer» For the purpose of KYC policy a ‘CUSTOMER” may be defined as: A person or entity that maintains an account and/or has a BUSINESS relationship with the bank; One on whose behalf the account is maintained (i.e. the beneficial owner); Beneficiaries of transactions conducted by professional intermediaries, such as Stock Brokers, Chartered ACCOUNTANTS, Solicitors etc as permitted under the law, and Any person or entity connected with a financial transaction which can pose significant reputational or other risks to the bank, say a wire transfer or ISSUE of HIGH value demand draft as a single transaction. For the purpose of KYC policy a ‘customer” may be defined as:

Answer»

For the purpose of KYC policy a ‘CUSTOMER” may be defined as:

A person or entity that maintains an account and/or has a BUSINESS relationship with the bank;
One on whose behalf the account is maintained (i.e. the beneficial owner);
Beneficiaries of transactions conducted by professional intermediaries, such as Stock Brokers, Chartered ACCOUNTANTS, Solicitors etc as permitted under the law, and
Any person or entity connected with a financial transaction which can pose significant reputational or other risks to the bank, say a wire transfer or ISSUE of HIGH value demand draft as a single transaction.

For the purpose of KYC policy a ‘customer” may be defined as:

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