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Decoding KYC for you!

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What is KYC?

KYC is an acronym for Know Your Customer. It is a mandatory process performed by platforms and businesses of all sizes, beforehand to identify their customer or client prior to beginning a business with them. This process is extremely crucial as it establishes a credibility and locates possible risks factors before any form of association. The free of cost procedure of verification and establishment of the identity is completed through relevant supporting documents like a photo ID (For Example: Aadhaar Card, PAN Card, Voter ID, etc.), address proof and lastly In-Person Verification (IPV). 

Why is it necessary? 

The primary aim of KYC is to ensure that the services are not being misused. This procedure will prevent all the financial platforms, offline or online from the exploitation done intentionally or unintentionally for money laundering activities. Such verification procedure also help businesses identify the stakeholder before getting into any form of association. 

What all documents are needed to complete the KYC procedure?

Completing KYC is not synonymous with hassle. It is an extremely simple and short procedure which can be completed in no time at all. All you need is your passport sized photograph along with the following mentioned documents.

  1. ID Proof
    You need a relevant government issued identity card so begin with the verification. It can be anything from Aadhaar Card, Voter ID Card, Driving License, PAN Card to your Passport copy.

  2. Proof of Address
    To complete your KYC, submitting your proof of address is imperative. The document can be anything from your recent landline or mobile bill, electricity bill, passport copy, recent Demat account statement, latest bank passbook, ration card, Voter ID, rental agreement, Driving License, or Aadhaar card.

To complete your KYC, submitting your proof of address is imperative. The document can be anything from your recent landline or mobile bill, electricity bill, passport copy, recent Demat account statement, latest bank passbook, ration card, Voter ID, rental agreement, Driving License, or Aadhaar card.

How can you complete your KYC?

You can complete your KYC procedure either online or offline.

  1. Offline
    You can visit the MobiKwik KYC centers and get your KYC done. It is very simple and completely free of cost. All you need to do is click on ‘KYC Centers’ the Hamburger menu on the right side of your MobiKwik Homepage. It will automatically show all the partner KYC Centers where you can go with the above mentioned documents and complete your KYC.
  2. Online
    You can complete your KYC online by following an extremely simple procedure. Just provide any of the mentioned document and generate your E-Aadhaar. By following these steps, you’ll be able to enjoy all the privileges that a full KYC user enjoys.

Complete your KYC for free and stay verified!

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