There are three categories of PayGyft Prepaid Account:

PENDING KYC

ALL ACCOUNTS WHO HAVE NOT PROVIDED DETAILS OF AN OFFICIALLY VALID DOCUMENT (OVD), SUCH AS AADHAR NUMBER, ARE CLASSIFIED AS “PENDING KYC”. CUSTOMER’S WITH STATUS “PENDING KYC” CANNOT ENJOY WALLET AND CARD RELATED FEATURES.

MINIMUM KYC

All accounts who have provided details of an Officially Valid Document (OVD), such as Aadhar Number, are classified as “Minimum KYC”. “Minimum KYC” Customers can:

  • Maintain up to ₹10,000 balance in the Prepaid Account

  • Add funds up to ₹10,000 in a month

  • Spend up to ₹10,000 in a month

  • It can utilize the funds for the purchase of goods and services.

  • Apply/Activate for Digital and Physical Prepaid Card

FULL KYC

PPI holders completing the full KYC process i.e. submission KYC documents shall be classified under this category.

  • Maintain up to ₹1,00,000 balance at any point in time

  • Utilize funds for the purchase of goods and services

  • Transfer funds to any other PPI holders with Full KYC status

  • Cash withdrawal from ATM