Many businesses have taken up PayTM to accept money and for transactions. However, the main issue was the limit of transaction and money you could keep on the wallet. After the cash crisis, businesses faced a big problem accepting bigger transactions. It meant that PayTM needed to provide more flexibility to the businesses to accept higher transactions. In the recent updates, it has been made possible for the users to increase their transaction limit in a month.
Every normal user is entitled to a transaction limit up to Rs. 20,000 but the upgrade can make it possible for transactions up to Rs. 1,00,000 in a month. However, to avail this facility you were required to get your KYC verified at the KYC centre to get upgrade of your account.
Procedure to Upgrade Your Account
Using the eKYC the process is very fast and safe verifying your details instantly.
1. Go to a nearby KYC centre
You have to visit a KYC centre to get your account verified and it takes only few minutes to complete the process. You can use this link to find the centre near you and visit it to get your KYC verified.
KYC Centre: https://paytm.com/nearby?utm_medium=social&utm_source=blog&utm_campaign=nearby
2. Carry documents
You need to carry your Adhaar card or Voter Card or Passport or Driver’s License to complete the process of verification.
3. Get verified and upgrade your account
The steps are very easy and simple without any paper work. It makes it fast and easy to get your account upgraded.
Once your account is upgraded, you get unlimited transaction limit and can store up to 1,00,000 at one time in your PayTM wallet.
Let us know if you faced any challenge during the whole process, in the comments below.