KYC based Paytm wallet restrictions are as follows:- www.deekpay.com

Paytm wallet offers convenient one-click payment facility to all users. However, the benefits available while using Paytm wallet vary based on KYC (Know Your Customer) restrictions. These benefits depend on whether you have a minimum KYC wallet or a full KYC wallet. The validity of the wallet, the amount limit and the number of transfers allowed are also based on these two different types of KYC.

**KYC-based wallet type:**

Wallet services offered by Paytm Payments Bank follow RBI (Reserve Bank of India) guidelines. As per these guidelines, customers are required to complete at least minimum KYC to use the wallet services.

Here are the two main wallet types issued by Paytm under KYC:

a. Minimum KYC: These wallets are valid for 24 months. With a minimum KYC wallet, you get some of the benefits of Paytm wallet and can make online or offline payments at merchants that accept Paytm.

[Click here to complete your minimum KYC]

b. Full KYC: To continue using Paytm wallet after 24 months and enjoy the full benefits of the wallet, you need to complete the full KYC. after completing the full KYC, you can also transfer money to other Paytm users.

[Click here to complete your full KYC]

**KYC-based permitted transactions:**

You can use Paytm wallet for a wide range of operations. You can access the full functionality of the wallet after completing the full KYC. Below are the available operations for both types of wallets:

a. Minimum KYC: The minimum KYC is valid for 24 months. Having a minimum KYC wallet allows you to:

- Payments at 12 million+ merchants accepting Paytm

- Online payment on any application/website

- Maintain a maximum balance of $10,000 per month

Having a minimum KYC wallet, you can't:

- Transferring money to a friend's wallet

- Transfers to bank accounts

- Maintain a balance of up to $100,000

- Open a savings account with Paytm Payments Bank

b. Full KYC: To continue to use the wallet after 24 months and enjoy the full benefits of the wallet, you need to complete the full KYC. With a full KYC wallet, you can:

- Payments at 12 million+ merchants accepting Paytm

- Online payment on any application/website

- Maintain a wallet balance of up to $100,000

- No spending limits on wallet accounts

- Transfer to any other purse or bank account

- Eligible to open Paytm Payments Bank savings account

[Click here to complete your full KYC]

**KYC-based wallet transaction limits:**

Wallet transactions are subject to certain restrictions imposed by RBI. Below are the various restrictions:

Restriction Type | Periodicity | Minimum KYC | Full KYC

— | — | — | —

Wallet Balance | Anytime | Rs 10,000 | Rs 1,00,000

Wallet transfers (including transfers to other users and any bank account) | Monthly | Cannot transfer | Beneficiary - Rs 100,000; Non-Beneficiary - Rs 10,000

Funding the wallet (including receiving funds from other users) | Monthly | Rs 10,000 | Unlimited

Funding the wallet (including receiving funds from other users) | Annually | Rs 1,00,000 | Unlimited