Why it is important to do Paytm KYC online verification?
It is quite mandatory these days to have a KYC verification for your e-wallets. This came in to the action after the new guidelines by RBI were released sometime back. So as per the guidelines, it is now mandatory for all the wallet providers to ask their users to get KYC done for them. The RBI believes it is a step towards decreasing the online crimes like identity theft, frauds etc. it will be a good enough database to support the financial system not only at a micro level; but also on macro level. The new guidelines makes it mandatory to form a linkage between Aadhaar to Paytm for KYC completion. Now you might feel that the procedure involved would be chaotic and messy but it isn’t so. On a contrary basis, it is quite simple and free from any kind of investment. To attract more and more users to have their KYC done, many partner sites offer cashback once you have completed the procedure. As per the guidelines, the new and old will have to provide minimum KYC details in the form of mobile number, name and identity proof. It is compulsory for new users to provide these details at the time of registration. In case the user fails to provide these details for KYC procedure, they would lose the ability to transfer money to other Paytm wallets and other existing accounts.
Key Points to be kept in mind for Paytm KYC online verification in accordance to RBI Guidelines
- The guidelines suggest that new users will have to provide the required KYC details compulsorily for the completion of minimum KYC during signing up with any e-wallet services. For this purpose, the costumers are asked to present a valid identity proof. Doing this would enable the customers to enjoy certain services through Paytm but not all services are given. Until the complete KYC is performed, customers would not be able to keep more than Rs. 10,000 in their wallets. Also, they will not be able to send money to other wallets or accounts.
- Also the new users are supposed to complete their entire KYC process and linkage of their Aadhaar to Paytm within a stipulated time period of 12 months.
How to Link Aadhaar to Paytm KYC online verification
- The first step is to download the app and then opening it in your mobile to showcase the ‘Home Page’.
- The next step is to select the ‘Link Aadhaar’ icon
- The system then demands the user to enter their 12 digit Aadhaar number with their name. After filling it, go the next step for further procedure.
- The next step involves entering the address and ‘Request an Appointment’
- Once the request is successfully completed, you would be given an appointment within 24-48 hours.
- On the appointed date and time, you are asked to visit the Aadhaar centre near you with the original Aadhaar card and PAN card for verification purposes.
- At the centre, you will have to provide your Aadhaar card, PAN card and the registered Paytm mobile number to the agent.
- After giving the details, the agent would want you for fingerprints verification in order to complete the KYC procedure.
Comment below if you have any queries regarding how to verify Paytm KYC online