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You Won't Lose Your E-Wallet Money After 28 February


Customers will still find their money in e-wallet accounts even after not completing their Know-Your-Customer (KYC) requirements says Reserve Bank of India (RBI).


You Won't Lose Your E-Wallet Money After 28 February

Issuers of pre-paid instruments (e-wallets) are required to get their customers to comply with KYC norms set by RBI by the end of this month, that is, tomorrow.

You will still find your money in the wallet on March 1, 2018, and you can make purchases with the money and even send it to your bank account. However, you will not be able to send funds to others or add money as these features require completion of KYC.

Also, RBI deputy governor B P Kanungo said on Monday that the KYC deadline will not be further extended.

Read more about: kyc e wallet
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