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Your Paytm wallet may not work if you fail to complete KYC– Here’s how to update details

Your Paytm wallet may not work if you fail to complete KYC– Here’s how to update details

New Delhi: Users of Paytm and other mobile wallets who failed to complete KYC (Know Your Customer) may not be able to send money. They may even fail to transfer money back into their bank account as the deadline to update KYC details was 28th February.

According to the report published in Hindustan Times, users can still update KYC details on mobile wallets.

Here are the steps to complete KYC for Paytm

  1. Open Paytm app
  2. Select “Paytm KYC” option from the top of the app.
  3. Enter 12 digit Aadhaar Number and name.
  4. Then enter OTP received on the mobile number linked with Aadhaar.
  5. Finally, click on “Yes, it’s me”.

According to the report published in The Quint, earlier, RBI in the notification said that all prepaid wallet users need to complete KYC requirement. It also clearly mentioned that users who fail to update KYC details may not be able to send money or even transfer money back into bank accounts.