I’m a MobiKwik user but haven’t completed my KYC yet, and I’m trying to understand the limitations that come with a non-KYC wallet. What is the maximum balance I can hold in my MobiKwik Wallet without KYC? Are there any restrictions on transactions like sending money to others, transferring to a bank account, or making payments above a certain limit? Would appreciate any clarity on how these limits differ from a full-KYC wallet.
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Things we can do without KYC are-
- Mobile & DTH recharges
- Utility bill payments
- Online and offline shopping (QR/payments at stores)
- Booking movie tickets, food orders, bus/hotel tickets
Things we can’t do without KYC are:
- Sending money to other MobiKwik users or bank accounts is not allowed.
- Cannot do wallet to bank transfer.
Wallet Balance without KYC: Max ₹10,000 outstanding at any time.
If you haven’t completed your KYC on MobiKwik, your wallet comes with some strict limits. The maximum balance you can hold is ₹10,000, and that’s also your monthly loading limit.
With a non-KYC wallet, you can’t send money to others, transfer to a bank account, or do large-value transactions. You can still use the wallet for basic payments like mobile recharges, bill payments, or small online purchases, but anything beyond ₹10,000 a month is blocked.
Once you complete full KYC, your limit increases to ₹2 lakh, and you can unlock features like wallet-to-bank transfers, peer-to-peer payments, and higher transaction limits. So if you plan to use it more seriously, it’s worth getting KYC done.
Yes, that’s correct. A non-KYC MobiKwik wallet is restricted to ₹10,000 balance and you can’t do transfers or high-value payments. Once you complete full KYC, your limit jumps to ₹2 lakh and you unlock features like wallet-to-bank transfers, peer-to-peer payments, and higher transaction amounts. It basically turns your wallet into a full-fledged digital account.