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Sunday, January 5, 2020

What is Paytm KYC?

What is Paytm KYC?

What is Paytm KYC

Paytm KYC is to add any of your identity cards to your Paytm wallet so that you can verify that the name of the wallet you are using is Paytm KYC Customer Verification, which is very important for the wallet.

 Those who have not upgraded the Paytm wallet get some less advantages in the comparison of the Paytm KYC customer, it is very important to have a Paytm KYC to use the Paytm wallet in a good way.

So let's know how you can get Paytm KYC done and take advantage of benefits
You can use your Aadhaar card to get Paytm KYC and get your Paytm KYC done with Aadhaar card.

 KYC is to verify the identity and address of the customer. To get KYC done, the Government of India has considered Aadhaar card as a necessary document for KYC, but Paytm has given you the option that you can get PAN card, driving license, NREGA card , Voter ID, password etc. can also get KYC verification.

 Benefits of having Paytm KYC

By making Paytm KYC, the customer becomes a KYC customer whose KYC has been verified. Your Aadhaar card is linked to Paytm. When you are a Paytm KYC user, then you get some more benefits in the comparison of Paytm non KYC users. What are the benefits to the user, which are not given to the non-KYC user.

By getting Paytm KYC, your wallet gets upgraded, now you can spend more than Rs.10000 in a month using Paytm wallet

1. You can keep up to one lakh deposits in your Paytm wallet, which you can use in your shopping.

2.  Your Paytm payment bank account can be opened

3. You also get many cashback offers which are not given to a nun KYC user.

There are three types of Paytm KYC

 Paytm has made three types of KYC available to its customers to make their services easy.

1. Mini kyc
2. Self KYC
3. Full kyc.

 What is minimum KYC? What are the benefits of completing it here?

According to the Reserve Bank of India, digital wallet is a prepaid instruments issued by the RBI to operate, according to which all the wallet issuing banks need to know their customer and their wallet must be KYC. While doing all digital companies have compulsory KYC of their customer

The process that Paytm uses to perform KYC of its customers is called Minimum KYC, under which the customer has to give the number of one of the pass port, voter ID, driving license, NREGA job card etc. to Paytm.

 After having minimum KYC of Paytm wallet, Paytm can use wallet in their daily digital transactions.

Minimum KYC benefits here

1. Can pay shoppers with Paytm
2. One can pay by shopping online
3. You can keep balance up to ₹ 10000 in Paytm Wallet

 If your wallet has minimum KYC and not full KYC then you cannot avail these facilities.

1. You can not transfer money to your friends
2. Can not keep up to ₹ 100000 balance in Paytm
3. You cannot open a savings account with Paytm Payment Bank
4. Can not transfer money to bank.

Facilities here you cannot use minimum KYC

 How to do Minimum KYC

  1. First open your Paytm app and tap on the KYC icon
  2. Select your ID from the ID you see
  3. Now enter the ID number and the name written in the ID
  4. Confirm the information you have written and submit it

Congress has successfully done minimum KYC verification.

Keep in mind that minimum KYC is only valid for 18 months as per RBI instructions, after this you cannot use your wallet, further you have to pay Paytm full KYC to use the wallet.

 Self KYC or Aadhaar Best KYC

  • Open the Paytm app and click on the KYC icon
  • Write your Aadhaar number
  • OTP will be received on your registered mobile number.
  • Fill your information and click on submit button

 Paytm full kyc

To get Paytm full KYC, you have to go to a Paytm's KYC agent, it will verify your Aadhaar with your biometric then your KYC will be considered full KYC.

 By making full KYC, you become a Paytm KYC customer and you get the benefit of all the features of the wallet under which you have many benefits which are as follows

  1. You can keep up to ₹ 100000 in wallet
  2. Wallet spending limit reached
  3. You can transfer money from Paytm Wallet to the bank
  4. Your savings account opens in Paytm payment bank

To get full KYC, you will have to take along with Voter ID, driving license, password, NREGA job card or your Aadhar card.

 To make full KYC in Paytm, open your Paytm app, on that you will get the option of Near by KYC Point on the home screen, by clicking on it you can find the KYC agent near you and by going there you can get your full KYC.

 How much does Paytm KYC charge

Let us tell you that there is no charge for getting Paytm KYC, here the facility is absolutely free, so you do not have to pay money even if you ask, if any Paytm agent asks you for money instead of KYC, then you must complain to Paytm.

You must be over 18 to have Paytm full KYC.

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