Can I receive payment in Paytm with minimum KYC?

As per RBI guidelines, you to need do complete your minimum KYC to activate your wallet. Minimum KYC allows you partial access to benefits of Paytm Wallet. With minimum KYC wallet, you can do the following: Pay to 12 Million+ Merchants who accept Paytm.

Can I receive money with minimum KYC?

Minimum KYC: Minimum KYC is valid for 24 months. Minimum KYC allows you partial access to benefits of Paytm Wallet. b. Full KYC: For using Wallet beyond 24 months as well as for availing complete benefits of Wallet, Full KYC needs to be completed.

How much money we can receive on Paytm without KYC?

Paytm users won’t be able to use their Paytm wallets for sending money to others or to transfer money to a bank account. Digital wallet users after February 28 will have their limit reduced to Rs. 10,000 from Rs. 20,000 per month for minimum KYC users.

Can I receive money on Paytm wallet?

You can send as well as receive money both in the Paytm Wallet as well as directly in your bank account. Now, receive money anytime from senders anywhere, directly in your bank account through your phone number or UPI ID.

Can we receive money in Paytm without bank account?

No. Just like the existing Min KYC wallet, you cannot transfer money to someone else’s wallet or bank account from the New Paytm Wallet.

What are the KYC based restrictions on Paytm Wallet?

There are KYC based restrictions on Paytm wallet which determines the benefits that you can avail while using Paytm wallet. These benefits are based on whether you have a Minimum KYC or a Full KYC wallet. The validity of wallet, amount limit and the number of transactions permitted from the wallet are also based on these different types of KYC.

What is the minimum KYC required?

In order to complete minimum KYC, you need to provide your Name and Unique identification number of any of Passport, Voter ID, Driving License or NREGA Job Card. Minimum KYC allows you partial access to benefits of Paytm Wallet. With minimum KYC wallet, you can do the following: As per RBI guidelines, minimum KYC is valid for 24 months only.

Is Paytm KYC process under PPBL license?

Paytm KYC process and wallet are under license of Paytm Payment bank (PPBL). Therefore all terms and condtions mention PPBL. How safe is the KYC process?

What documents do I need for wallet KYC?

We need 1 out of Aadhaar, Voter ID, NREGA card, Passport or Driving license for wallet KYC. However, Aadhaar is our preferred document as it makes the KYC instant. Click on KYC icon in Paytm app to get started