Complete Paytm KYC Online – Paytm KYC Update

Paytm is a multinational financial company that specialises in financial services and digital payments. Completing Paytm KYC is necessary to get full access to all the features and options available for users. 

Being a payment bank, Paytm lets you complete the customer verification process effortlessly. Here is a complete guide on how to perform the KYC verification process online and offline to make the process quite seamless.

How to Update Paytm KYC Online?

Paytm allows 2 kinds of KYC processes to its users: i. Min Paytm KYC (activates only the online wallets) and ii. Paytm Video KYC (it is a type of full KYC).

Let’s know the steps to complete both of these online Paytm KYC update processes.

1. Min Online KYC at Paytm

Here is the step-wise guide for Paytm Min KYC:

• Step 1: Click your profile picture from the Paytm app installed on your phone and go to your ‘Profile’ section.
• Step 2: Navigate to the ‘Profile Settings’ option from where you can access your profile information. If you have not completed your KYC, you will see your wallet status as ‘Inactive’.
• Step 3: Start the KYC process by clicking on ‘Activate Now’.
• Step 4: Tap on the Minimum KYC option for wallet activation.
• Step 5: Enter and update Paytm KYC details on the application form.

At this step of the KYC procedure, you will have to provide a scanned copy of any of these documents: Passport, Aadhaar card, Voter ID card, etc.

After completing these KYC requirements, your Paytm Wallet will become activated for online transactions.

2. Video Online KYC at Paytm

It is the only way you can complete the full Paytm KYC verification process online. For this Video KYC, you will have to perform the following step-by-step procedure:

• Step 1: Go to the KYC section on your Paytm App.
• Step 2: Log in to your Paytm account.
• Step 3: Click on the ‘Video KYC’ option as your selected method for the Full KYC at Paytm.
• Step 4: Provide the Aadhaar card number (ensure that your mobile number is linked to your Aadhaar card).
• Step 5: Enter the OTP received on your Aadhaar-registered mobile number.
• Step 6: After the Aadhaar verification is complete, you will have to enter some details, including your parents’ names, permanent address, correspondence address, marital status, profession, etc.
• Step 7: Now, your video KYC verification at Paytm will begin. At this stage, you may have to answer some basic queries from the Paytm KYC executive, including your date of birth, address, etc. 
• Step 8: Perform the Video verification process in which you will have to face the camera holding your PAN card (ensure that the front of the PAN card is facing the camera).

After completing these steps, you will have to wait for confirmation of KYC verification. Paytm will check and validate your details and change your profile status to ‘KYC Verified’.

How to Update Full Paytm KYC Offline?

There are three ways in which you can do the full Paytm KYC offline: i. Visiting Paytm KYC Point, ii. Doorstep Aadhaar-based Paytm KYC completion, iii. Contacting Paytm employees for Aadhaar less KYC.

Know the steps of all these three KYC processes from the section below.

1. Aadhaar-Based Paytm KYC from KYC Centre

Here are the steps you will have to follow:

• Step 1: Visit the nearby Paytm KYC centre.
• Step 2: Produce your KYC documents which are the Aadhaar and PAN card.
• Step 3: Complete the Aadhaar biometric verification process as per the instructions of the KYC agent.

2. Doorstep Aadhaar-Based Paytm KYC

Paytm rolled out a pilot KYC programme in which the KYC agent reached the users at their doorstep. It selected some locations for this pilot programme. Thereafter, Paytm also started this doorstep KYC verification service on a chargeable basis (available only in selected locations). You will have to pay ₹150 for this.

Following are the steps of this doorstep KYC verification process:

• Step 1: Presenting the Aadhaar and PAN card.
• Step 2: Complete Aadhaar-based biometric verification.

3. Aadhaar-less Paytm KYC Process

If you do not have an Aadhaar card, you will have to perform the following tasks for Paytm KYC verification (given in steps)*:

• Step 1: Contact a Paytm Payment bank agent and convey that you do not possess an Aadhaar card.
• Step 2: Provide your PAN card along with one of these documents: Voter ID card / Driving License / NREGA Job Card / Passport.

* This KYC verification process is valid for some limited locations as per the RBI guidelines.

Documents Required for Paytm KYC

You will mainly need the below-mentioned documents while updating your Paytm KYC:

1. PAN card
2. Aadhaar card

If you do not have an Aadhaar card, you will have to produce the following documents along with your PAN card to complete the Paytm KYC verification process:

1. Voter ID 
2. Driving Licence 
3. NREGA Job Card
4. Passport 

Documents Required for Minors – Paytm KYC

If you want to create a minor savings account and complete the KYC, you will have to provide the following documents:

1. The birth certificate and Aadhaar card of the minor
2. PAN card and Aadhaar card of the guardian
3. Any valid document recording the relationship between the guardian and the minor
4. Address proof
5. Applicant’s passport-size photo

Paytm KYC Rules & Regulations

While updating your KYC, you need to keep in mind some basic points about the Paytm KYC rules as mentioned below:

1. You will have to be an Indian citizen or resident or a tax resident of India
2. To update your wallet and open your savings account, you will have to complete the Full Paytm KYC.
3. In case you want to complete your KYC without an Aadhaar card and you do not have a PAN card, you will have to fill in Form 60.

In addition to these rules, you will also need to cooperate with the KYC agent and provide them with some of your additional details as per RBI and CERSAI norms, including:

1. Parent’s name
2. Spouse’s name
3. Occupation details
4. Income details

Why is It Important to Update Paytm KYC

The following are the reasons for updating KYC at Paytm:

1. You will be able to pay more than 12 million merchants after buying your necessary items.
2. After completing the Paytm KYC, you can pay on any UPI app.
3. Minimum KYC allows you to keep up to ₹10,000 in your wallet. If you complete Full LYC, you can maintain a wallet balance of up to  ₹1,00,000 and there will be no limit on your spending.
4. Full KYC lets you send money to any bank account or wallet.
5. After Full KYC, you can open your savings account with Paytm Payments Bank.

Paytm Payments Bank KYC Form

You can easily complete your online Paytm KYC from the mobile app. 

If you do not want to perform the process online for some reason, you can visit a Paytm KYC centre near you. However, make sure to download the Paytm KYC Form and fill it up before visiting your nearby Paytm KYC centre. 

The official website lets you find out the nearby Paytm KYC centre easily. You will have to just fill in your PIN code. 

Final Word

Paytm Payments Bank has made the process of online financial services quite seamless for users. You can transact your money in and out effortlessly using your wallet or from your savings account. However, to leverage all the features and benefits, you must complete your Paytm KYC. If you want to use only the wallet with limitations, you can go with Paytm Min KYC, however, for complete access to all the features, Full KYC at Paytm is necessary.

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Disclaimer

This article is solely for educational purposes. Stable Money doesn't take any responsibility for the information or claims made in the blog.