What is meant by KYC in Paytm?
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What is meant by KYC in Paytm?
KYC or Know Your Customer is a process to identify and verify a customer. It is a mandatory process that is done at the time of opening a bank account and over a period of time.
What is need of KYC in Paytm?
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.
Is KYC for Paytm free?
KYC is FREE. You don’t have to pay any charges to the authorized Paytm Payments Bank representatives for KYC.
How do I complete KYC?
How to Do KYC Offline?
- Download and fill the KYC form.
- Mention your Aadhaar/PAN details.
- Visit a KRA office and submit the application.
- Attach the proof of identity and proof of address with the application.
- You may have to submit your biometrics as well in some cases.
Where is KYC in Paytm?
Aadhaar based KYC at your Nearby KYC Point: You can find nearby KYC points by tapping on http://m.p-y.tm/kyc on your smartphone or visiting this link on your browser. You may also tap on the ‘Nearby’ icon on the blue strip at the top of Paytm App Home page. You need to carry your Aadhaar and PAN* for verification.
Who uses KYC?
The KYC procedure is used when bank customers open accounts. Banks are also required to periodically update their customers’ KYC details. The purpose of KYC is to reduce the risk of identify theft, money laundering, financial fraud, and the financing of criminal organizations.
How is KYC done?
How to Do KYC Offline?
- Download and fill the KYC form.
- Mention your Aadhaar/PAN details.
- Visit a KRA office and submit the application.
- Attach the proof of identity and proof of address with the application.
- You may have to submit your biometrics as well in some cases.
What is KYC in Paytm Wallet?
KYC means “Know Your Customer”. It is a process by which banks obtain information about the identity and address of the customers. This process helps to ensure that banks’ services are not misused. The KYC procedure is to be completed by the banks while opening accounts. Why do I need to do KYC? Paytm wallet is a RBI governed wallet.
How much is the fee for KYC?
There is no fee for KYC. It is absolutely FREE Why do you collect additional details post verifying my Aadhaar? Why KYC itself is a in person process. Why can’t I do it on Paytm app? KYC requires Address proof of customer. You can do this verification using Aadhaar on Paytm app.
What is the meaning of KYC?
KYC means “ Know Your Customer ”. It is a process by which banks obtain information about the identity and address of the customers. This process helps to ensure that banks’ services are not misused. The KYC procedure is to be completed by the banks while opening accounts.
How do I know if my minimum KYC has been completed?
If your Minimum KYC is complete, you will see a KYC icon on Paytm Home Page on the Blue Strip at the top. On tapping on this icon you will be able to see details of your Minimum KYC expiry date. In case your Minimum KYC has expired, it will be mentioned on this screen. What is Full KYC and What are the Benefits of Completing Full KYC?