How To Complete PhonePe KYC – Everything About KYC

PhonePe wallet is monitored by the RBI and after RBI Guidelines it is necessary to complete the PhonePe KYC. Completing the KYC will not harm us in any manner although it will give us some additional benefits for being a verified user by completing the KYC.

Pro Tip: You can also read our step by step guide on Sell PhonePe Gold- Everything You Need To Know and PhonePe ATM | How To Withdraw Cash From PhonePe ATM

What Is KYC

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 it is necessary to complete our PhonePe KYC to use various features of PhonePe.

Download PhonePe to get exciitng rewards on first send money from PhonePe

PhonePe is going to start doorstep KYC verification(offline KYC) for their users just like Paytm KYC center, now we will see PhonePe KYC center near me after some time. The deadline for completing the full KYC for Digital wallets users like Paytm, PhonePe, etc is extended by 6 months from February to the end of August 2019.

You can also watch this video to complete the KYC.

Step By Step Guide To Complete PhonePe KYC

As of now, there are several steps needed to complete PhonePe KYC. It is a completely online process and will activate in a minute. As of now, there is no KYC center available, you can complete your KYC while sitting at your home, office. No need to pay any charges for completing your KYC. Here is our step-by-step guide to completing PhonePe KYC online.

Step 1: First of all you launch your PhonePe and make sure to login to your PhonePe account.

Step 2: After that, you will see an option named my money, click on it.

Step 3: After this, you need to tap on the PhonePe wallet under the wallets/ gift vouchers.

Step 4: After that, you can see that there will be a pop-up that says that complete your KYC tap on Continue.

Step 5: Now you can see there will be some information regarding KYC. read this and proceed to the next step.

Step 6: Select the documents which you want to enter. There will be various ID proofs which you can select and enter the details of that ID Card.

Step 7: Now you can see your KYC is successfully completed after providing your basic details.

List Of Documents Required To Complete PhonePe E KYC

There are some standards documents or id proofs that are valid for completing the KYC whether it is Online KYC or Offline KYC.

1. Aadhaar Card
2. Voter ID
3. Driving License
4. Passport
5. NREGA card
6. Permanent Account Number(PAN Card)

PhonePe KYC Benefits

There are lots of benefits to completing KYC. You can check out here all the benefits of e-KYC.

1. By completing the minimum KYC you will get a monthly limit of ₹10,000.
2. You will be able to Withdraw Money From PhonePe Wallet to your Bank Account.
3. Increase payment limits to the merchant.
4. You can increase limits for Top-up(add money in PhonePe), Purchase, and withdraw wallet balance.
5. You will get all the benefits of KYC users.

PhonePe Transfer Limit

The PhonePe app supports various payment methods so the minimum and maximum limits are different for each payment method.

1. UPI Transactions: The UPI limit is the same as the limit of UPI transactions.
2. Wallet To Wallet: You can send Rs 10,000 in a single transaction while your monthly top-up limit is Rs 10,000.
3. Debit/Credit: Same limit according to bank/card norms.
4. Balance Withdrawal: You can withdraw a maximum of Rs 5000 per month (If PhonePe KYC is completed or not).

FAQ (Frequently Asked Questions)