You can enter your Aadhar Card or PAN number in the App to activate your Paytm wallet. You only need to complete KYC if you want to send money from your wallet to another Paytm wallet or to any bank account.
Will I be charged for transferring money to the Bank?
We are glad to inform you that there are absolutely no charges for transferring money from your Paytm wallet to the Bank.
Paytm wallet is approved by the Reserve Bank of India. All the guidelines followed by Paytm are as per the rules and restrictions of the RBI. Your money with Paytm is protected under an Escrow account with a reputed bank, which means that your funds are held in trust when you make a transaction through Paytm wallet.
How much money can I have in my Paytm Wallet?
If you have provided only your basic details like Aadhaar or PAN number while activating your Paytm wallet, then you can have a maximum of Rs. 10,000 in your Paytm wallet. If you have completed your KYC, then you can have a maximum of Rs. 1 lakh in your Paytm wallet.