Student KYC stands for "Know Your Customer" and refers to the process of verifying the identity of a student.
Edmissions
Why is it required?
A student KYC is required by financial institutions, such as banks and loan providers, when a student applies for a loan, credit card, or any other financial product.Its purpose is to prevent identity theft, fraud, and money laundering.
The process of student KYC involves collecting and verifying personal information of the student, such as their name, date of birth, address, and identification documents such as a passport or driver's license.
Who else might require this?
Educational institutions may also require student KYC at the time of admissions or enrollments. They may require it to verify a student's previous academic records, qualifications, transcripts, and any other relevant personal information.
The exact process and requirements for student KYC may vary depending on the institutions, country, and the financial products which the student is applying for. Make sure to get your student KYC done right to avail study opportunities.