[ecis2016.org] CIF or Customer Information File is a unique number that banks assign to each customer and contains details about the customer
What is CIF number?
CIF, or Customer Identification File, is an electronic file containing all the details of a customer of, say, a bank. These details may include loan, demat account, identity proof details, etc. The CIF number may be four digits or 10 digits or 11 digits, depending on the bank. CIF is also known as ‘Customer Information File’.
You are reading: What is CIF number: Meaning, full form and how to find it
[ecis2016.org] What is KYC
Why is CIF number important?
Read also : Running a business from home? Here’s what you should know
CIF is important for keeping and maintaining the details of all the customers across all the branches of the bank. The CIF number is unique for every customer. The personal details included in the CIF are KYC, transaction details and other identification.
This is important to avoid any clashes or fraud between any two customers. This is also vital, to maintain a customer’s privacy, with respect to the customer’s bank details, as well as personal details.
CIF number: Key points |
|
[ecis2016.org] What is a trading account
CIF numbers as a tool for marketing
Read also : Step-by-step process to open an HDFC Bank savings account
CIF number is also used by financing institutions, for marketing purposes. For example, banks may use it to analyse banking or spending patterns of customers, and based on this, offer new or complementary products or for cross-selling, or to offer loans, credit cards, etc.
CIF number: How to find it?
You can check your CIF number in the following ways:
- Login to the internet banking service of your bank and check your account summary.
- Call your bank on their toll-free number, or send them an SMS, or drop them an email to inquire about the CIN number. You can also visit your bank branch.
- You can also find this number on your bank statements.
Source: https://ecis2016.org/.
Copyright belongs to: ecis2016.org
Source: https://ecis2016.org
Category: Must Knows
