Creating an e-wallet with MobiKwik is really easy, isn’t it? All you need is a mobile number and email address, and you are good to go. However, in life you should never settle with the basics, especially when we are willing to offer you much more! Upgrade your wallet and get premium membership to reap more benefits from MobiKwik.
All you need for a premium membership is to submit your KYC documents. These documents will also help us to authenticate your account and to prohibit money-laundering activities on the platform.
Here are some frequently asked questions for your reference:
How Does This Benefit Me?
- Enhanced Balance Limits: The limit goes up to Rs 1,00,000 from the initial Rs 20,000.
- Transfer Limits Upgrade: You may transfer higher amounts to other wallet users or bank accounts.
- Exclusive Offers: You enjoy exclusive access to upcoming offers and schemes.
What’s KYC and How Do I Go About it?
The RBI requires all banking platforms (including MobiKwik) to complete the KYC or the ‘Know Your Customer’ process. It’s a simple procedure that requires a customer to submit two sets of documents – proof of identity (copy of your passport, driving license, Voter Identity Card, PAN card, Aadhar card or NREGA job card) and address proof (all mentioned earlier are valid except Pan Card).
How Does A Wallet Upgrade Prevent Money Laundering?
Upgrading your wallet helps us as at MobiKwik to identify accounts that could be used to commit fraud, money-laundering and other illegal activities on our platform. Once we authenticate all accounts, we will know if any wallets are being operated by anonymous or fictitious names. It’s also a crucial requirement to figure out if any accounts are being used, intentionally or unintentionally, for money laundering, paying bribes or to fund terrorist activities. This will also help you: you’ll have the assurance of dealing with an authentic account and not one created as a smokescreen to commit fraud.
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