KYC verification has also become mandatory for Paytm users. A Paytm KYC customer gets many benefits. Those who have not updated Paytm Wallet. They do not get the unique benefits of the VIP Paytm Client. If you also pay online through Paytm. So this article is for you only. Because in this article we will describe to you about paytm kyc online verification? How to get Aadhar card linked in Paytm? How to update your Paytm KYC? Apart from this, you will know what the benefits of getting KYC Verify are? Why should you have KYC Verification done?
Before you Verify your Paytm KYC, let us first tell you about KYC, what is KYC? Why is KYC Verification Important?
What is KYC – What is KYC?
KYC – Know Your Customer, i.e. KYC in Hindi means “Know Your Customer”. KYC is an essential term in the financial sector. It used by financial institutions to verify the identity of their client. Institutions like banks, insurance companies etc. want to verify their identity before offering their services to customers. It uses KYC for this process. Through KYC, it confirms the identity and addresses the verification of the customer.
For KYC Verification, the Government of India (Aadhaar Card) has considered Aadhaar Card as the required document for KYC. But, you can also get your KYC Verification through PAN Card, DL – Driving License, NREGA Card, Voter ID, Passport etc. Documents.
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Benefits of having Paytm KYC
After Paytm Wallet is KYC verified, you become a Paytm KYC Customer. That is, whose KYC verified. Your Aadhar card linked with Paytm. You are now a Paytm KYC user and not a Paytm Non-KYC user. You have the following advantages of KYC Verification.
- Your Paytm Wallet gets update. It means that now you can spend more than ₹ 10,000 in a month.
- You can keep up to ₹ 1,00,000 in your Paytm Wallet. Which you can use to pay with Paytm and do online shopping.
- If you are a Paytm KYC customer, then you get more opportunities for Special Offers and Paytm Cashback.
- It becomes easy for you to open an account with Paytm Payments Bank.
- Paytm Wallet continues to be use. And you are capable of taking benefit of all the features available in the wallet.
Different types of Paytm KYC – Paytm KYC Type
Paytm has made three types of KYC available to its customers to maintain easy access to its services. Each KYC has its advantages and limitations, which see below.
- Min KYC
- Self KYC
- Full KYC
The documents required for various types of KYC and its limits seen below.
What is minimum KYC, and what are the benefits of completing minimum KYC?
Based on the Reserve Bank of India, the digital wallet is a prepaid instrument. The RBI has issued guidelines to operate it. According to them, all the portfolio issuing banks need to know their customers. They issued wallets only after identifying their primary. All digital wallet companies verify the identity of their customers, citing the same. The process is using by Paytm to verify the identity of its customers is call Miniman KYC. Under this, the customer has to give the passport, voter ID card, driving license, name granted in NREGA job card and Paytm to the unique identity number.After the completion of minimum KYC verification, the customer can use the Paytm wallet to carry out everyday digital tasks.
And it starts getting the following benefits of Paytm Wallet.
- Paytm is paying to shopkeepers.
- You can pay if you shop online.
- You can keep a balance of up to Rs 10,000 in Paytm Wallet.
What are the benefits
But, apart from these benefits, you deprived of many other facilities. For example,
- You will not be able to transfer money to your friend.
- Can not transfer money to the bank.
- You cannot keep a balance of up to Rs 1,00,000 in Paytm.
- You cannot open a savings account with Paytm Payment Bank.
Now you have learned about the different types of Minimum KYC. And have also learned about its advantages and disadvantages. Come, now what is the procedure for Minimum KYC Verification? Let’s also know him. I hope now you will easily do paytm kyc online verification at home.