How to do KYC in Paytm?

Here is the complete guide on “How to do KYC in Paytm by linking your Aadhaar card”

How to do KYC in Paytm

As per the new RBI guideline on pre-paid wallet services, it is mandatary for all the prepaid Wallet companies to do the KYC (Know-your-customer) for all there users.

KYC (Know your customer) – Know your customer is a business process of verifying the identity of its Customers / Clients. It helps the business to avoid any fraudulent activity by their customers.

Easiest way to do KYC is by linking your Aadhaar card with Paytm.

How to do KYC in Paytm
Image source: Paytm

How to do KYC in Paytm? (Through app – Updated)

  • Login to the Paytm App.
  • Click on “Nearby” option
  • Click on “Upgrade account”.
  • You will get a list of nearby places where you can visit and complete your KYC.
  • Do not forget to keep your Aadhaar card and PAN card with you.

Click here to complete you Paytm KYC now.

Types of Paytm KYC and their benefits.

Minimum KYC in Paytm and benefits.

User must do minimum KYC in order to activate its Paytm Wallet. In order to complete minimum KYC usr needs to share its Name and Unique identification number of any Government ID proof (Passport, Aadhaar Card, Driving license). In-person verification is not required to do minimum KYC.

With minimum KYC user can only access some of the Paytm Wallet features.

Features available with Minimum KYC in Paytm.

  • User will able to pay merchants
  • User will able to pay on online websites/app
  • Can maintain balance up to Rs10000.

Features not available with minimum KYC in Paytm.

  • User will not be able to transfer money to Bank account.
  • User will not be able to keep balance more than Rs10000.
  • User cannot open Paytm savings account.

As per RBI guidelines, minimum KYC is valid on for 18 months from the first day. After that user needs to do complete KYC in Paytm to continue using it. Driving.

How to complete your minimum KYC in Paytm?

  • Open Paytm menu.
  • You will see an exclamation mark against your name if your minimum KYC is not completed.
  • Click on your Name.
  • You will be redirect to your profile page.
  • You will see Banner showing your KYC is pending.
  • Click on the banner.
  • You will see minimum KYC form
  • Fill all the details (Name, UID number of any of the ID proof).
  • It is complete now.

Complete Full KYC in Paytm and their benefits.

On completing Full KYC in Paytm user will be able to access all the features of Paytm Wallet. .

KYC in Paytm
Image Source: Paytm

Features available with Full KYC.

  • User will able to pay merchants
  • User will able to pay on online websites/app
  • User will get upgrade in the limit he/she can hold in Paytm wallet up to Rs100000.
  • No Spending limit on Paytm wallet.
  • User can transfer funds to bank and other Paytm users.
  • User will be eligible to open savings account with Paytm.

How to complete Full KYC in Paytm?

To complete Full KYC in Paytm user needs to do In-person verification at the selected Paytm location.

User can check the list of available location on Paytm app or website by clicking on “Nearby” icon followed by clicking on “Upgrade account”. User will get all the nearby location where he/she will be able to complete In-person verification. User needs to carry ID proof (Aadhar card, PAN card) to the location in order complete the KYC.

In the starting Phase Paytm was giving the facility to its users to complete KYC at their doorsteps. User needed to request for Home verification on Paytm App and Paytm used to send their authorized person to do the verification. Now Paytm is not providing this service. Now users need to visit on any of the nearby Paytm location to complete their KYC.

Charges and Fees for KYC .

Paytm does not charge any money for KYC. It is completely free.

How much time it will take to complete the KYC ?

On completing the In-person verification, it takes 2-3 days to complete the verification process. After that user will be able to use all the features of Paytm Wallet.

How to do Paytm KYC at home ?

KYC at home was available to few customers in the starting phase. At present Paytm do not offer KYC at home . Now you need to visit Paytm to do in-person verification to complete the KYC process.

Paytm KYC center list

Here is the list of available Paytm center where you can reach-out to complete your KYC.

Paytm KYC online verification

You can do Paytm online verifcation by sharing your Adhaar details. But you will be eligible for only minimum KYC. For complete KYC you need to do in-person verification at your nearest Paytm center.

Do check out our article on How to Transfer money from Paytm to Bank account without charges.

We will be happy to hear your thoughts

Leave a reply