Upgrade your Paytm account like this, you will get a limit of Rs 1 lakh

After the introduction of 500 and 1000 rupee notes, the number of digital wallet users, especially Paytm users, has increased rapidly. People are avoiding using cash. Many people are short of notes and digital wallets have become a support in such a situation. Through Paytm, you can pay for tea, grocery, restaurants and beauty parlors through mobile. In view of the shortage of cash and increased use of digital wallets, RBI on Wednesday doubled the limit of Rs 10,000 (without KYC) to Rs 20,000.

The limit for basic wallet users on Paytm is now Rs 20,000. But if your expenses are high, you can increase your limit to Rs 1,00,000 by completing the KYC process. After the KYC process, you can spend unlimited money on Paytm while you can keep up to Rs 1,00,000 in your 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 promocode. 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 complete 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.

Paytm.com Go to your profile section then click on ‘Request Wallet Upgrade’ in the top right corner below your username.

You can go to the Paytm app, go to the ‘Paytm VIP’ section in the profile page and go to ‘Upgrade for Free’.

Paytm Website And these methods for upgrading the wallet are mentioned on both the apps.

• Ask the Paytm agent to come to your home or office.
• Go to the Paytm KYC center near you and get your documents verified.

Other than this You can also visit the URL.

What will be required to complete the KYC process:

• a photograph

Self attested copy of any one of the below mentioned documents

• Aadhar card
• Passport
• Voter ID
• Driving License
• NREGA Job Card

Keep in mind that the original copy of these documents will also be checked by the Paytm 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 the PAN card.

Once you submit the documents, it will take up to 3 working days for the documents to be verified and KYC to be completed. To complete the verification process quickly, you can answer the required questions on the app itself. These will ask for marital status, profession, gender, date of birth, family details and contact details and your Aadhaar and PAN card details.

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 to another Paytm user or a bank account in a month. The limit of Rs 25,000 will be available even if you do not upgrade your wallet.

It is worth noting that Paytm has advised to do Aadhaar based biometric verification on its page. This is expected to complete the KYC quickly. Verification through any other method can take up to 48 hours even after submitting the documents. However, considering the high usage of Paytm and the rapid KYC being done by people, it seems that the KYC process may take more time.