Paytm KYC F&Q

How to Do Full KYC Of Paytm

Why do I need to do KYC?

  • Paytm wallet is a RBI governed wallet. As per RBI mandate we need to do KYC of customers to enable a number of features. (Refer to point 9 in RBI Directive)

Why do you need Aadhaar for Paytm wallet if Supreme Court has extended indefinitely linking of Aadhaar for Bank account?

  • Aadhaar is one of the means of proving your identity for increasing wallet limit. You can also KYC at Paytm using Passport, Voter Id, Driving license or NREGA card

Why don’t you allow KYC with Govt id other than Aadhaar?

  • We allow KYC with other documents also. You can choose Passport, Driving license, Voter id or NREGA card. Aadhaar is not mandatory.

Why do you ask for only Aadhaar for KYC?

  • Aadhaar is not the only document using which KYC can be done. However we prefer Aadhaar since you can do KYC yourself using it on Paytm app.

What is Paytm Payments Bank Limited?

  • Paytm Payments Bank is India’s only mobile-first bank with zero balance - zero digital transaction charge. Paytm offers Paytm wallet and Savings bank account from Paytm Payment bank.

Why does Paytm wallet terms and conditions and SMS mention Paytm Payment bank (PPBL)?

  • Paytm Wallet is issued by Paytm Payment Bank, hence all legal terms and conditions mention PPBL.

If Paytm wallet is issued by Paytm Payment Bank, am I opening a Bank account by using Paytm wallet?

  • No Paytm Wallet and Paytm Savings bank account are separate and Independent of each other. For opening Paytm Bank Saving account agent will have to take explicit confirmation from you.

Why are you opening Bank Account while doing KYC?

  • We don’t open Bank account as part of KYC. To open a bank account Paytm agent will need explicit consent from you.

Can the agent who is doing my KYC also open my Bank account?

  • No the agent will have to take confirmation from you. You will be sent an SMS which will mention One time code( OTP) for this confirmation.

I think I have accidentally given my confirmation for bank account but I don’t need bank account

  • You still have 2 days to cancel bank account opening, call 0120-3002699 and press 1.

What are charges for KYC?

  • There are no charges for KYC. It is completely FREE

What is fee for KYC?

  • There is no fee for KYC. It is absolutely FREE

Why do you collect additional details post verifying my Aadhaar?

  • RBI requires all wallets to be CERSAI complaint (Refer to point 57 in RBI directive)
  • Therefore we are required to capture additional details needed which are not available in your Aadhaar data shared by UIDAI

Why KYC itself is a in person process. Why can’t I do it on Paytm app?

  • KYC requires Address proof of customer. You can do this verification using Aadhaar on Paytm app. However if no mobile is linked to your Aadhaar a Paytm agent will need to do in-person verification of your Aadhaar or any other Govt id to do with KYC.

How to do KYC in 1-minute?

  • You can complete you KYC on Paytm app in less than 1 min, Just verify your Aadhaar number with OTP from UIDAI and enter few profile details, that’s it! If you don’t have Aadhaar you can request for visit by our agent or visit any of our KYC centres.

Step 1:
  • Tap on the KYC icon
Step 2:
  • Enter your Aadhaar Details and validate OTP
Step 3:
  • Verify your information and tell us few more details
Step 4:
  • That’s It, your KYC is done

No comments:

Post a Comment

Subscribe to: Posts (Atom)