Understanding KYC for Your Paytm UPI Account

With the Paytm Payments Bank Wallet services no longer supporting new deposits or credits as of March 15, 2024, the focus has shifted to making payments directly from your bank account via UPI (Unified Payments Interface) using the Paytm app.

Key Information about KYC and Paytm UPI:

KYC for UPI is Handled by Your Bank: When you set up UPI on the Paytm app, the KYC process is primarily managed by the bank where you hold your existing bank account. Your bank already has your complete KYC details (Full KYC) as per RBI regulations.

Activating UPI on Paytm: To use UPI through Paytm, you typically link your existing bank account. This process often involves:

• Verifying your mobile number (registered with your bank).

• Selecting your bank.

• Setting up your UPI PIN (if you haven't already).

This setup implicitly leverages the KYC already done with your primary bank.

No Separate "Minimum KYC" for Paytm UPI: There isn't a separate "Minimum KYC" process required specifically for using UPI through the Paytm app if you're linking an existing, already KYC-compliant bank account from another bank. Your eligibility for UPI transactions is determined by your bank's KYC status.