KYC for digital wallets - Whats your status?

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swatkats

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As the date Feb 28th is coming up. These digital wallets including Amazon pay is forcing me to update Aadhar or else other ID proofs for Minimum Kyc.

I am least bothered to give them anything.*

These institution like RBI and Finance ministry have made life miserable. How can you not let a person use a minimum of even 10,000 in a month? Sick.

* Unless necessary!

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What if I don’t do my KYC?

As per RBI guidelines, wallets of non-KYC verified customers will be restricted to the following:

· You will not be able to add money into your Paytm Wallet unless you are a Minimum KYC* customer

· You will not be able to send money to friends and family, either in wallets or in bank accounts

· You will not be eligible for any offers applicable to our KYC customers

* Minimum KYC: You can also become a Minimum KYC customer by providing your Officially Valid Document ID number (e.g. Aadhaar, PAN etc). This will enable you to keep using your account. However, as a Minimum KYC customer, you will still not be able to send money to other wallets or bank accounts, or keep more than Rs. 10,000 in your wallet.

https://blog.paytm.com/get-your-pay...1-lakh-and-become-a-vip-customer-9defab2cada1

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Meanwhile...


Digital wallets staring at a major crisis with India's strict KYC rules:
The total number of customers who have submitted their KYC details is in 'low single-digit' percentage, according to industry executives.

"If these norms are implemented in full force, the entire industry, which handled around 12,000-crore worth of transactions in December, will be facing a major crisis," said the chief executive of a payments company, speaking on condition of anonymity since his firm is in talks with RBI to relax the requirements.
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And still people worship bjp who simply want to harass common man. Businessmen, tycoons and film stars won't use paytm or Amazon wallets so they simply wanna keep an eye on poor mans spending. They think even 1-5k in wallet is a luxury and a reason for them to catch hold of you.
Aadhar is going to such an extent that some day tomorrow you cant even have a vadapav on road or even use public toilet if you fail to show aadhar. Life is getting miserable.
Its getting out of hands and over the limit. Too much!
 
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actively using freecharge and paytm.
no kyc don't yet. won't even do.

won't bow to these arm twisting tricks.
 
And I am not at all worried about this KYC deadline.
I know the dates will be moved forward again for adhaar-based thing..
 
good. i want to close all the wallets i'm using. i think the more things we sign up for, the more complicated our lives become. 1-2 credit cards are enough. no need for wallets etc.
 
Whats the last date for linking mobile to aadhar?

docomo wants me to come down to Mumbai from Nagpur for doing it. Pathetic! They not allowing via local docomo here in nagour nor they have enabled otp phone based which government has introduced months ago to ease the process.
 
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Using Amazon pay alone. Provided voter ID number for kyc. Voter ID seems to be a safe bet since it's not linked to anything important.
 
nimod said:
Technology can never solve social issues.
Specially in a complex social system like India.
The Giant Idiots can not understand this.
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I don't think it was intended to solve problems, it was for profiling and possible share info with international Intelligence.
nRiTeCh said:
Whats the last date for linking mobile to aadhar?

Shitty docomo wants me to come down to Mumbai from Nagpur for doing it. Pathetic! They not allowing via local docomo here in nagour nor they have enabled otp phone based which government has introduced months ago to ease the process.
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Port maybe
 
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TheGreatOne said:
Nothing important just your address, parents name and date of birth with 100% accuracy.
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Every id card has more or less all these details. I'm talking about it being linked directly to bank accounts or FDs or MF etc. Either way, what you are implying is correct. But there's no escaping without providing any of these KYC documents, right?

swatkats said:
Its already linked to Aadhar here long back!
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Is it already? :wideyed: Does it also have the same Mar 31 deadline?
 
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