KYC stands for Know Your Customer. The aim of doing KYC is to prevent banks from being used unintentionally or for the wrong purpose. So complete your Paytm KYC by the below-described methods.
The Need for Paytm KYC
As per the guidelines of RBI (Reserve Bank Of India) all customers of any wallet or bank who want to use for higher balance (Limit will increases) for sending money or for another purpose.
After completing the KYC, your KYC status will reflect in your Paytm wallet. You can also check your Paytm KYC Is Completed Or Not. Normally it will be activated in 3-4 days.
After update from Paytm, you need to visit the nearest KYC center to complete Paytm KYC
These are the old methods of completing the KYC. You can go through the latest method to complete Paytm KYC.
What are the different ways to do KYC
- Self KYC (Aadhar + OTP) (Not Available)
- Doorstep KYC (Not Available)
- Nearby KYC Centre
1. Self KYC (Aadhar + OTP)
Aadhar based KYC will be completed in 2 min. It is completely a paperless KYC.
- Open the Paytm app.
- Click KYC on a blue strip.
- Enter your Aadhar number and Name.
- Enter the OTP sent to your registered mobile number that is linked with UIDAI.
- Now confirm your identity.
- Fill the given form that consists of your personal details.
- You have now done your KYC.
2. Doorstep KYC
Aadhar based KYC will be completed in 2 min.
You can choose this method when your mobile number is not registered with UIDAI or the number is registered is lost or in any other case. Simply you have to select Doorstep KYC in Paytm and book an appointment according to your suitable time. A Paytm agent will come to your address and collect the relevant data and your KYC will be done as soon as possible. You can show any government-registered documents for KYC.
3. Nearby KYC Centre
This process is also useful if we are not able to do KYC itself. Simply open the Paytm app and locate the nearby KYC center, after that visit the nearest KYC center with relevant documents to get your KYC done.
- All the above methods of doing KYC is absolutely free.
- You can transfer money to anyone after completing the KYC.
- Your wallet limits can be increased after completing the KYC.
- The limit can be extended up to 1 Lac.
- If you have completed your Full KYC then you are eligible to open a Paytm Payment Bank account.
FAQ (Frequently Asked Questions)
There are no charges for doing KYC. It is totally free of cost to complete the KYC. If any KYC center demand charges for the KYC then you can complain about that. If you have already given the money then you can send a mail to Paytm, Paytm will refund that money to your Paytm wallet.
To download the Paytm wallet statement first understand the Paytm. Paytm is India’s largest digital payment platform that allows the user to do various transactions like Mobile Recharge, Send Money (Wallet to Wallet And Wallet To Bank), Metro Recharge, Broadband Bill Payment, Buy & Sell Gold, and many more. You can see how to Download Paytm Statement.