Upgrade Paytm account like this, you will get a limit of Rs 1 lakh
There is now a limit of Rs 20,000 for basic wallet users on Paytm. But if your expenses are high then you can increase your limit by Rs 1,00,000 by completing the KYC process. After the KYC process, you can spend unlimited rupees on Paytm while keeping up to Rs 1,00,000 in the wallet. After KYC verification, users automatically become VIP customers of Paytm. Paytm VIP customers also get many other benefits on the platform which can be redeemed by applying a promo code. These include exclusive offers, instant cashback and refunds. Today we will tell you how you can complete the KYC process on Paytm. And what documents will be required for this?
To become a Paytm VIP customer, it is necessary to do KYC (Know Your Customer). To complete KYC, identity proof and address proof will have to be verified. For this, the process can be started on Paytm.com and Paytm app.
Go to your profile section on Paytm.com, then click on 'Request Wallet Upgrade' in the top right corner of your username.
You can go to Paytm app, go to 'Paytm VIP' section in the profile page and go to 'Upgrade for Free'.
These methods of upgrading the wallet are mentioned on both the Paytm website and app.
- Ask a Paytm agent to come to your home or office.
- Get the documents verified by visiting the Paytm KYC center located near you.
Apart from this, you can also visit the URL http://mp-y.tm/kyc.
What things will be required to complete the KYC process:
- a photograph
Self attested copy of any one of the documents mentioned below
- Aadhar card
- Voter ID
- driving license
- NREGA job card
Keep in mind that the original copy of these documents will also be seen by the PETA agent. Apart from this, if you want to spend more than Rs 50,000 in a single transaction, then you will also have to provide a copy of PAN card.
Once the documents are submitted, it will take up to 3 working days for the documents to be verified and KY completed. To complete the verification process quickly, you can answer the necessary questions on the app itself. In these, marital status, profession, gender, date of birth, family details and contact details and information about your Aadhaar and PAN card will be asked.
After becoming a VIP customer of Paytm, you can keep a balance of up to Rs 1,00,000 in your wallet. Apart from this, you can send up to Rs 25,000 in a month to other Paytm users or any bank account. The limit of Rs 25,000 will be available even if you do not upgrade the wallet.
It is worth noting that Paytm has advised to do Aadhaar based biometric verification on its page. With this, KYC is expected to be completed soon. Verification through any other means may take up to 48 hours even after submission of documents. However, considering the high usage of Paytm and the speed with which people are getting KYC done, it seems that the KYC process may take more time.
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