When you submit a request to complete your Paytm KYC process and upgrade your wallet, it goes to one of our partners. The partner assigned to you processes your request step-by-step by:
1. Booking an appointment with you over the phone
2. Sending representatives for collecting documents during the booked time-slot
3. Processing the documents at the back-end
The above-mentioned process takes about 5–7 days on an average based on the time-slot provided by the customer. Post demonetization of Rs. 500 and Rs. 1000 currency notes, we have received an overwhelming number of requests from our customers. While we have increased our partner network and capacity significantly, there is a chance that a few requests are getting delayed. We regret if you had to wait longer than usual to get your KYC done.
We have launched an alternative method to get Paytm KYC done by visiting your nearest Paytm KYC center.
For accessing the list of such centers:
- Log in to your Paytm app and click ‘Nearby’.
- Under the ‘Upgrade wallet’ tab, you would see a list of outlets near you.
You may walk in to any of these centers and complete your Paytm KYC process.
Linking Aadhaar to Paytm account
New RBI guidelines on pre-paid wallet instruments dated 11th Oct 2017 mandate all pre-paid wallet providers (like Paytm) to get their users link Aadhaar to their account
Linking Aadhar to account is the process of a business identifying and verifying the identity of its clients. This process helps to ensure that the services are not misused.
Importance of linking Aadhaar:
- A mandatory document as per regulations of the Government
- Regulations of the RBI Guidelines for any company that deals with money of customers
- It is done to prevent identity theft, financial fraud, money laundering and terrorist financing
Advantages of Linking Aadhaar with Paytm account:
- Aadhar linked Paytm users can seamlessly transfer money to other wallets and bank accounts and their wallet limit will increase to Rs. 1 lac
- Only such users can open a savings account with the newly launched Paytm Payments Bank and earn interest on their savings
- Also there are many exclusive offers
All that is required is Aadhaar card and thumb impression of the account holder.
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