KYC Procedure For all mobile Wallets

KYC Procedure for all e-wallets at one place (Paytm, Mobikwik, Freecharge, AmazonMoney, Phonpe etc)

As you are aware of the RBI policy on PPI instruments . Earlier it was to be implemented till 31st December 2017 and then it got extended till Feb 28 2018. Hope it may get extended till March 31

Here is the RBI Circular : RBI

KYC documents laid down by RBI : (need to submit any one)
1. Passport
2. Driving licence,
3. PAN Card
4. Voter’s Identity Card issued by the Election Commission of India
5. Job card issued by NREGA duly signed by an officer of the State Government
6. Aadhaar / Letter issued by the Unique Identification Authority of India containing details of name, address

https://rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=10292

We have 3 kinds of wallets now :-

1. Full KYC wallet which has limit upto Rs.1,00,000 at any point of time with no restrictions

2. Minimum KYC Wallet with self declaration which has monthly limit upto Rs.10,000 per month and Rs.1,00,000 annually.

3. Restricted Minimum KYC wallet which is the default one if you do not provide self declaration. Limits are same as above but no money credit/load is allowed. Only existing balance can be used.

Here is procedure of the following apps as of now . Please let know of any discrepancies etc.

1. Paytm – limit 1,00,000 for Full KYC Users / 10,000 for Minimum KYC Users

Full KYC Process : Physical KYC using Aadhar+ OTP, Driving License, Passport , Voter ID , NREGA Job Card . Physical verification required.

Minimum KYC Process: No self declaration procedure.

2. Mobikwik – limit 1,00,000 for Full KYC Users / 10,000 for Minimum KYC Users

Full KYC Process : e-KYC using Aadhar+ OTP/ Without OTP ( representative will come to your address to verify via bio-metric – service is available for few states only.)

Minimum KYC Process: No self declaration procedure.

3. Freecharge – limit 10,000 for all . No need for Full KYC

Minimum KYC Process: Self declare using Voter ID , PAN , Passport only

4. Amazon Money – limit 10,000 for all . No need for Full KYC

Minimum KYC Process: Self declare using Aadhar, Voter ID , PAN , Passport , Driving License

5. Phonepe – limit 1,00,000 for Full KYC Users / 10,000 for Minimum KYC Users

Full KYC Process : e-KYC using Aadhar via Khosla Labs Pvt. Ltd

Minimum KYC Process: Self declare using Voter ID , PAN , Passport , Driving License, NREGA Job Card, Central Govt Id , State Govt Id

6. Ola Money -limit 1,00,000 for Full KYC Users / 10,000 for Minimum KYC Users

Full KYC Process: Email to care@zipcash.in from your registered mail id and send your 1 id proof, 1 Address proof and 1 photo (passport / selfie) .

Minimum KYC Process: Through Ola Cabs App – self declare using Aadhar, Voter ID , PAN , Passport , Driving License

7. Tapzo – limit 10,000 for all . No need for Full KYC

Minimum KYC Process: No self declaration procedure.

Not sure of procedure of following Bank wallet Apps :-

8. Payzapp – not sure but it is asking for Aadhar + PAN

9. Pockets - if ICICI bank user no need else not sure

10. YesPay – if Yes Bank user no need else not sure

11. Airtel – not sure but is asking for Aadhar as per sources

12. Zeta -limit 1,00,000 for Full KYC Users / 10,000 for Minimum KYC Users
   Full KYC Process:

    - Physical KYC: Fill out a KYC form and submit it along with requisite documents to an authorised Zeta representative. Get in touch with your HR to move this along.

     – Aadhaar OTP/Biometric verification

   Minimum KYC Process: self declare using Aadhar, Voter ID , PAN , Passport , Driving License

13. Haptik : No Need

14. Niki : No need

15. Rupizo – Shutting down on 25th Feb 2018. Can transfer wallet balance to bank

Email to getintouch@rupizo.com from your registered email id. Provide a scanned copy of your Aadhaar / PAN card along with a copy of your bank statement / cancelled cheque with your account number and IFSC Code clearly mentioned. Please note that the name on your Rupizo wallet should match with your bank account name.

16. Sodexo
Full KYC
– 1) Sending an SMS from your registered mobile number to 9225660070. Type CARD (space) ADHR (space) your 12-digit Aadhaar number.
2) (i) You can also visit https://kyc.sodexobrs.com/. Here, you will have to enter the portal using your registered mobile number, the last four digits of your Sodexo card, and the captcha code.
  (ii) After this, you will have provide your Aadhaar number.
  (iii) You will have to validate your Aadhaar number by typing in the one-time password (OTP) that will be sent to your Aadhaar registered mobile number.