Phonepe KYC Online Registration Latest Trick:- Hi Readers, As you know KYC is mandatory for all E-Wallets to get cashback, Send or accept Payment, or other activities. KYC is known as Know Your Customer. The aim of KYC is to prevent banks from being used unintentionally or for the wrong purpose. So it is necessary to complete our PhonePe KYC Online Registration to use various features of PhonePe.
Phonepe KYC Online Registration
As per the RBI Guidelines (Reserve Bank Of India) all customers of any E-wallets or bank who want to use them for a higher balance (Limit will increases) for sending money or for another purpose or getting Cashbacks in E-wallets, Must do their KYC online or offline by visiting the bank or near KYC store. For Phonepe KYC you can visit your Phonepe Kyc Near center or can do it Online. To transfer your wallet balance to the bank you need to submit KYC details before 28th February. You can also enhance the PhonePe wallet limit by completing your e-KYC using an aadhaar number. Follow this online step-by-step process to compete for your KYC using aadhaar number.
What is KYC?
KYC is short for Know Your Customer and is mandated by the Reserve Bank of India to verify the identity of the banking customer. As part of the process, the banking platforms are required to procure personal identification details from the customer through verified documents like a driving license, PAN card, and Aadhaar, among others. This helps banks and digital payments platforms to ensure the authenticity of their customers as well as assess and monitor risks.
Why do you need to complete KYC?
The simplest answer to this question is to get the best out of the digital wallet. In case you choose not to complete KYC, you will still be able to access your digital wallet but with several restrictions in place. According to the RBI guidelines, non-KYC customers will not be able to add money to their wallets, send money to friends or family, or be eligible for any offers applicable to KYC customers.
In case you have not completed the KYC, you will still be able to access the money in your wallet and make payments using the amount. However, in order to add more money to your wallet, you will need to complete the minimum KYC, which involves providing your official valid document ID numbers like Aadhaar and PAN.
Steps to Avail Phonepe KYC Online Registration
Before you start doing your Phonepe KYC, keep your Aadhaar card ready, you need to enter your 12-digit Aadhaar number. Second, your Aadhaar registered mobile number, you will receive OTP on this number to verify your details. And Follow Steps…….
- First of all launch the PhonePe App on your phone.
- Ensure that you have logged into your PhonePe Wallet Otherwise login into your PhonePE Account.
- Now tap on My Money Options.
- You can see various wallets available. Tap on PhonePe wallet.
- After that, you can see that there will be a pop-up that says that complete your KYC and tap on Continue.
- Now you can see there will be some information regarding KYC.
- Select the documents as Aadhar Card
- Enter a 12-digit Aadhaar number and tap on submit.
- Enter OTP to confirm it.
- which you want to enter. There will be various ID proofs which you can select and enter the details of that ID Card.
- Now you can see your KYC is successfully completed after providing your basic details.
- Voila, You have done your Phonepe Online KYC Registration. Enjoy your Cashback Program.
Please note:
- You can validate your KYC using aadhaar card only now. No other document option is available.
- Make sure your mobile number is registered with your aadhaar card to receive OTP. If your mobile number is not registered, please visit the nearest kyc center and register your mobile number.
Phonepe KYC Wallet Benefits or Non-KYC wallet benefits-
| Without KYC | |||
|---|---|---|---|
| Refunds/Wallet Balance (Max.) | Purchases (Max.) | Withdrawal (Max.) | |
| Monthly | Rs. 10,000 | Rs. 10,000 | Rs. 25,000 |
| Per Transaction | Rs. 10,000 | Rs. 10,000 | Rs. 5,000 |
| With KYC | |||
|---|---|---|---|
| Refunds/Wallet Balance (Max.) | Purchases (Max.) | Withdrawal (Max.) | |
| Monthly | Rs. 1,00,000 | Rs. 1,00,000 | Rs. 25,000 |
| Per Transaction | Rs. 1,00,000 | Rs. 10,000 | Rs. 5,000 |
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What is the use of KYC in PhonePe?
KYC is short for Know Your Customer and has been mandated by the Reserve Bank of India to verify the identity of the PhonePe customer. Without doing KYC in PhonePe, users cannot add money to their wallets, send money to friends or family, or be eligible for any offers applicable to KYC customers.
Can I use PhonePe without a bank account?
Yes, you can carry out merchant-based transactions, including recharges, bill payments, and online/offline merchant transactions. However, you cannot do a money transfer as it is enabled on UPI, which in turn requires a bank account.
Final Words- Here is the Latest Trick of Phonepe KYC Online Registration You can do easily your ONLINE KYC and enjoy your wallet cashback and increase your Wallet Limits. Spread your love with us.
