Is MobiKwik charges for bank transfer?

What is the MobiKwik wallet to Bank transfer charges? If you are a KYC user, then you have to pay an IMPS fee to transfer money from the MobiKwik wallet to the bank. In this case, you have to pay 3.15\% + GST.

Is MobiKwik legal?

MobiKwik wallet is a semi closed wallet authorized in 2013 by the Reserve Bank of India (RBI). The RBI license allows the company to create marketplaces where customers can purchase goods and services from third-party vendors, avoiding the reportedly high failure rates of payment gateway transactions in India.

Is MobiKwik secure?

“We thoroughly investigated and did not find any security lapses. Our user and company data is completely safe and secure,” a company spokesperson added.

How can I transfer money from Mobikwik wallet to bank account free?

1. Add money to you digital wallet on the MobiKwik app using your credit or debit card.
2. Tap on ‘Transfer money’ feature on the app. Find ‘wallet to bank’ in transfer money.
3. Add beneficiary name, account number and IFSC code and click continue.

How can I transfer money from Mobikwik wallet to bank without fees?

Is it free to transfer money from MobiKwik to bank account?

Post demonetisation, MobiKwik has made it free to transfer money from your wallet to the bank account. Earlier, the digital wallet company used to charge 4 percent for a non-KYC compliant user and 1 percent fee for a KYC compliant user.

Is it legal to use MobiKwik in India?

MobiKwik is providing you a service if they are charging 3\% is just a nominal fee & it is completely legal because MobiKwik & Paytm both are RBI (RESERVE BANK OF INDIA) approved digital wallets.. Which wallet to bank transfer are free/have low charges in India? Wallets from we can transfer money to our bank account.

What is the balance limit of MobiKwik?

Under the PPI norms that mobile wallets have to comply with, MobiKwik has a balance limit of Rs. 20,000, which is the limit of what you can transfer to your bank at any time. As an added measure, the limit for money you can transfer to your account is only Rs. 1,000 at a time.

How many users does MobiKwik have?

The mobile wallet company says it has 35 million users and over 100,000 merchants on the platform, providing consumers a way to pay for goods without worrying about the shortage of cash. Just like rival Paytm, MobiKwik also allows users to transfer money from their MobiKwik wallet to their bank account.