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)
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
We allow KYC with other documents also. You can choose Passport, Driving license, Voter id or NREGA card. Aadhaar is not mandatory.
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.
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.
Paytm Wallet is issued by Paytm Payment Bank, hence all legal terms and conditions mention PPBL.
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.
We don’t open Bank account as part of KYC. To open a bank account Paytm agent will need explicit consent from you.
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.
You still have 2 days to cancel bank account opening, call 0120-3002699 and press 1.
There are no charges for KYC. It is completely FREE
There is no fee for KYC. It is absolutely FREE
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
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.
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.
Document ID Required
Max. Wallet Balance
Validity
Add money to your wallet and receive cash back
Recharge, shopping and make payments
Send money to Paytm user or Bank A/C
Min KYC
Any Govt. Approved Id |
₹ 10,000 |
1 year validity |
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Self KYC
(Aadhaar - OTP Verification)Aadhaar |
₹ 1,00,000 |
1 year validity |
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Full KYC
(In-person Verification)Any Govt. Approved Id |
₹ 1,00,000 |
Multiple years validity |
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Document ID Required
Max. Wallet Balance
Validity
Add money to your wallet
& receive cashback
Recharge, shopping &
make payments
Send money to Paytm
user or Bank A/C