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SBM IndMoney ReKYC

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stech18

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I have created fixed deposit in IndMoney with SBM bank on my mother’s name which is maturing around 27th December. However, got an email from SBM now asking for ReKYC within a month which is not possible for her as she is not keeping well and mostly can’t do Video KYC without anyone’s help which is not allowed. Does anyone know if they will freeze the account if not done within a month? I just want the account activated till 27th.
Else I will have to prematurely withdraw which will incur lot of losses.
 
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While it doesn’t mention consequences of not doing it, I am afraid that they will freeze the account.
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Dr.Anand456 said:
I received the same email. Wait for some time and try contacting customer care through the app. They will most likely resolve your issue. I believe it’s not an urgent alert but just a reminder. If you’re uncertain, it’s better to withdraw your money for peace of mind.
Click to expand...
Shall I reach to indmoney customer care or sbm?
 
I had been receiving emails from SBM for RE-VKYC on September, 2022 or October, 2022.

My OneCard was SBM Bank FD-based account.

The FD's maturity date was December 22nd, 2022.

I ignored the RE-VKYC emails.

Every month, I kept receiving reminder emails.

As soon as it matured on December 22nd, 2022, I withdrew the amount after 2-4 days.

Now guess what? I kept receiving emails for RE-VKYC until March 2023. 🤣🤣

As far as I think, your account might work without RE-VKYC until December 27th.

You might need to complete VKYC before March 2025 because the bank wants it done before the financial year march, 2025 ends."
 
Abhishek012 said:
I had been receiving emails from SBM for RE-VKYC on September, 2022 or October, 2022.

My OneCard was SBM Bank FD-based account.

The FD's maturity date was December 22nd, 2022.

I ignored the RE-VKYC emails.

Every month, I kept receiving reminder emails.

As soon as it matured on December 22nd, 2022, I withdrew the amount after 2-4 days.

Now guess what? I kept receiving emails for RE-VKYC until March 2023. 🤣🤣

As far as I think, your account might work without RE-VKYC until December 27th.

You might need to complete VKYC before March 2025 because the bank wants it done before the financial year march, 2025 ends."
Click to expand...
Thanks for sharing this. Is it the same or similar email? Also when the account was opened? Mine is completing 2 years in 21st December . I am also not sure why they are asking VKYC in ReKYC unlike other banks.
 
Abhishek012 said:
I had been receiving emails from SBM for RE-VKYC on September, 2022 or October, 2022.

My OneCard was SBM Bank FD-based account.

The FD's maturity date was December 22nd, 2022.

I ignored the RE-VKYC emails.

Every month, I kept receiving reminder emails.

As soon as it matured on December 22nd, 2022, I withdrew the amount after 2-4 days.

Now guess what? I kept receiving emails for RE-VKYC until March 2023. 🤣🤣

As far as I think, your account might work without RE-VKYC until December 27th.

You might need to complete VKYC before March 2025 because the bank wants it done before the financial year march, 2025 ends."
Click to expand...
Thanks for your advice, I have withdrawn all the funds now. It’s a peace of mind. Won’t repeat these mistake for 1% extra benefits.
 
All of the accounts opened through IndMoney was without Video KYC, it was live photo and signature. Not sure thats the reason they are doing ReKYC using Video. I have never seen any other bank opening digital accounts without Video KYC.
 
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