MobiKwik is one of the largest e-Wallet service provider after PayTm based in India. The recent discussion taken by the Government of India has shocked the whole world which was about the banknote demonetisation which as shifted almost everyone to move towards a Cashless economy as well as it has forced Indian citizens to find the alternative methods of transactions where the digital wallets also known as the e-Wallets are the best choice for the cashless or the less-cash transactions.
There is no doubt that PayTM has became one of the best player on the ground after the demonetization, but it is not like that the PayTM is the only player as after the demonetization other digital payment and e-wallet providers in India also emerged very rapidly. Most of per-existing and operating companies launched their Smartphone apps mainly for money transfer from wallet to wallet, bank to wallet and vice-versa.
At first you may find it very friendly to use, but it is friendly until you are within the limits set by these e-wallet providers and as per the guidelines from the Central Bank of India i.e. — Reserve Bank of India.
Currently, MobiKwik has set the limit for transferring money via Immediate Payment Service (IMPS) from wallet to bank is Rs. 1000 maximum and is only applicable once in every 24 hours and only up to 3 maximum transactions a month.
Here is the IMPS limit for the MobiKwik for transferring money from wallet to bank for KYC and Non-KYC customers:
|Current IMPS Limit||KYC||NON-KYC|
|Per Transaction Max count||1000||1000|
|Per Transaction Min Count||100||100|
|Daily Max Account||1000||1000|
|Monthly Max Account||8000||3000|
|Daily Max Transaction Count||1||1|
|Monthly Max Transaction count||20||20|
MobiKwik allows only 1 maximum transaction per day upto 1000 and customers without NON-KYC i.e. non-upgraded can only transfer up to 3000 maximum in a month from their wallet to the bank, but after upgrading your account i.e. submitting the KYC (Know Your Customer) application you can upgrade the limit of your wallet from Rs. 20000 to 100000 and maximum transfer limit from Rs. 3000 a month to the Rs. 8000 per month.
Now, the question is how you can upgrade or submit the Know Your Customer (KYC) application. Well, there are three ways to request for the wallet upgrade :
- Method 1 — Submitting KYC form Online
- Method 2 — Request MobiKwik to collect documents from your address
- Method 3 — Upgrading wallet using UID Aadhaar Card
Method 1 and 2 usually takes 48 hours to 10 days to get your account approved and upgraded, but with the help your UID Aadhaar Card you can upgrade your account within the fraction of seconds. Unfortunately, MobiKwik has not provided option for Upgrading the account using UID Aadhaar card on their website — which means you need to download their app to upgrade your account using UID Aadhaar card.
How to upgrade MobiKwik account using UID Aadhaar Card?
- Download the MobiKwik app from Play Store (or from iTunes in case you are an iOS user)
- Install the MobiKwik app
- Login into your MobiKwik account using the MobiKwik app
- Tap on the “Wallet” icon located in the right-bottom side
- Tap on the “Upgrade” button under the Wallet app
- Enter your UID Aadhaar Card number
- Verify the number associated with your UID Aadhaar Card by entering the OTP sent on the same number liked with your Aadhaar Card
- Confirm the Aadhaar link-up by verifying the OTP sent by the MobiKwik
Usually, it takes less than a minute to get your MobiKwik account upgraded, after which you will be able to Add up to 1 lakh in your wallet.
That’s all folks — Your response in the comment will be appreciated.