What Will Happen If You Don’t Do Your KYC?
As per the RBI guidelines, wallets of the non-KYC verified users will be restricted from adding money into their Wallet and won’t be able to send any money to anyone (either from wallets or Bank Accounts). Non-KYC users will not be eligible for any offers applicable to the KYC customers.
But such customers may be able to do other transactions like recharges, utility bill payments, paying for movie tickets, travel bookings and payments at stores or payments at other apps and websites like Swiggy, Uber, Big Basket, BookMyShow and more.
However, only the KYC users will be able to transfer their money to each other using e-wallets and send money from their wallets to bank accounts.