- Created by user-5c3b0 on Jun 12, 2019
General
Know Your Customer (KYC) is a business process to verify your customer details such as identity and address proof as prescribed by RBI guidelines. The process ensures that a service is being consumed by a verified client and also aids financial institutions or other government authorities to prevent misuse of any financial transactions. As per RBI guidelines, beyond a specified amount it is mandatory that all prepaid payment instrument (PPI) users comply with KYC regulations and furnish required information and documentation.
- Passport.
- Driving license.
- Permanent Account Number (PAN) Card.
- Voter's Identity Card issued by the Election Commission of India.
- Company ID Card + bank statement or telephone bill.
- Job card issued by NREGA duly signed by an officer of the State Government.
- Any other document as notified by the Central Government in consultation with the Regulator.
- One passport size photograph.
- Government issued and s elf-attested copy of anyone photo ID proof, such as PAN Card, Passport, Driving License and Voter ID Card.
- Government issued and self-attested copy of anyone address proof, such as Passport, Driving License and Voter ID Card.
- Zeta KYC form duly filled up and signed by the employees.
The set of rules on different KYC profiles and the list of acceptable transaction and balance limits with respect to Zeta payment instruments are listed below for your reference.
| Rules and PPI Limits | Shortfall KYC | Minimum KYC | Full KYC |
|---|---|---|---|
| Document required | None | Government approved ID* | Copy of Government approved ID* |
| Expiry | None | 1 year | Multiple years |
| Spend money via Zeta | Yes | Yes | Yes |
| Add money to Zeta | No | Yes | Yes |
| Zeta user/bank transfer | No | No | Yes |
| Max Balance | Existing Balance | 10,000 | 1,00,000 |
*PAN Card, Passport, Driving License and Voter ID Card.
As per RBI's recent Master Direction, if you exceed the maximum wallet balance, you won't be allowed for further transactions. Ensure to maintain your Zeta wallet limit as below.
| KYC Profile | Maximum balance |
|---|---|
| Shortfall KYC | Existing balance |
| Minimum KYC | 10,000 |
| Full KYC | 1,00,000 |
Minimum KYC
Minimum KYC refers to a user who has verified the mobile number and submitted a self-declaration of name and unique ID of any OVD such as PAN Card, Passport, Driving License and Voter ID Card.
Minimum KYC profile is valid for one year. You can update your Minimum KYC using Zeta App. To know the procedural steps, refer Setting up an E-KYC.
As per RBI, per transaction limit for Minimum KYC users is ₹10,000/-
You can update your Minimum KYC using Zeta App in few taps. To know the procedural steps, refer Setting up an E-KYC.
Full KYC
Full KYC is a level above minimum KYC profile. To attain Full KYC you need to submit the photocopies of your Officially valid document (OVD) and duly filled KYC form to an authorized Zeta representative. Please get in touch with your HR to complete the process.
Full KYC is valid for multiple years.
As per RBI, per transaction limit for Full KYC users is ₹1,00,000/-
- You need to submit the photocopies of your Identity proof and Address proof to the Zeta onboarding team for validation.
- Ensure that you carry the original documents of photocopies with you.
Your photograph and signature are also captured. Refer to Officially valid document for more details.