How To Activate PhonePe Wallet & Complete Basic KYC

by Editorial Team

If you are a new user of the PhonePe app then you can activate your PhonePe wallet by completing a limited KYC process and start using the PhonePe wallet for payments. You can add up to INR 10,000 in your wallet using a Debit card and UPI and start paying from the wallet.

What is PhonePe Wallet Limited KYC?

Know your customer, refers to the norms rules and laws issued by RBI under which PhonePe is required to verify your personal details before activating your PhonePe wallet. KYC documents are required for continued usage of the phonepe wallet.

However, KYC is not mandatory for new users but you need to complete minimum KYC to use PhonePe wallet benefits like wallet top-up (add money to the wallet). You will continue to receive cashback into your wallet without KYC and you can use this cashback money for making payments on Phonepe.

Benefits when you complete Minimum KYC:

  • You will be able to add money to your PhonePe Wallet
  • Monthly limit up to rs.10,000

So if you are a new PhonePe user then here is the step by step guide – how to activate the PhonePe wallet and complete minimum KYC.

Complete Minimum KYC and Activate PhonePe Wallet

Register with PhonePe using your Mobile number and open the application.

Tap on My Money and select PhonePe Wallet.

Activate PhonePe wallet and complete basic KYC

Next screen, tap on complete KYC (Unlock full benefits)

Activate PhonePe wallet and complete basic KYC

And now select any documents like Pan card, Passport, Voter card as ID proof. If you selected Pan card then enter Pan card number and your name and submit.

Activate PhonePe wallet and complete basic KYC

Congrats your PhonePe wallet is now activated and you have completed basic KYC for your PhonePe wallet.

Activate PhonePe wallet and complete basic KYC

Now you can add money to your wallet using a Debit card and UPI. The monthly limit is 10,000.

What about full KYC?

Full KYC currently not available. PhonePe offering full KYC in phased, when it is available in your city, you will be notified. In full KYC, you will be able to load up to Rs. 1 lac per month in your wallet and also you can transfer wallet money to bank accounts.


(1) I’m a new PhonePe user, how to use the PhonePe wallet?

Ans: You can activate your PhonePe wallet and complete basic KYC by submitting any ID proof. After completing basic KYC, you will be able to loan money into your wallet.

(2) Minimum KYC is mandatory?

Ans: No it is not mandatory, but if you want to load money into your wallet then you need to complete basic KYC. Without KYC, you can use your wallet to receive cashback and use that amount for payments.

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