Do we need to comply any KYC when opening account with Paytm?
Yes. The RBI guidelines of pre-paid instruments state that minimum KYC must be completed when opening an account with Paytm. This minimum KYC will be valid for 18 months, but to avail the wallet’s services beyond this time period, full KYC needs to be completed. Full KYC also needs to be completed if you want to avail Savings Account services provided by Paytm.
Minimum KYC requires you to provide your name as well as any unique identification number such as your passport number, voter ID, driving license etc.
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