Banky team Reviewed editorial answerThe bank requests an updated commercial registration and tax card because it needs to maintain current information about the legal entity, its activities, the owners or beneficial owners, and signatory authorizations for Know Your Customer (KYC) purposes.
Key points
Expired documents or changes in partners and business activities may render the bank's data inaccurate.
Update them before they expire, as incomplete KYC documentation can disrupt certain services or transactions.