Like Paytm and Freecharge, Mobikwik is also one of the leading platforms to make the digital payments in India. The recent decision of denomination of the Rs 500 and Rs 1000 notes in India has helped the apps such as Mobikwik to increase their user base. Many merchants in the country are also using the platform to accept the payments from their customers. If you are one of them, you are at the right place right now, because, here in this post we are going to guide you on how to transfer money from MobiKwik to Bank account.
How to transfer money from Mobikwik to Bank account?
You can perform the transfer either via the app in your mobile or the website in your desktop/laptop.
To perform the transfer via the app
- Open the app from the menu screen and select “Pay or Transfer Money” button.
- In the next screen, choose the New Bank Transfer button
- Now enter the details such as the amount, account name, account number and IFSC code in the appropriate fields and tap the Continue button.
To perform the transfer via the website in your desktop/laptop
- Go to www.mobikwik.com and sign in to your account
- Select Pay or Transfer tab on the top of the screen.
- Select the Send to Bank button.
- Enter the details such as bank name, account number, IFSC code and the amount.
- Now hit the Send button. You will then get an OTP in your phone that you will have to enter in the webpage to confirm the transaction.
That’s it. You have just learned to transfer the money from your Mobikwik wallet to bank account. The app has a balance limit of Rs 20,000. You can transfer this amount to your bank account at any time. But you will be able to send only Rs 1000 per transaction unless you are a KYC user.
The KYC users can save up to Rs 1 lakh in the wallet and send up to Rs 5000 per transaction to the bank. There is no any limit on how much you can send to the bank account after the KYC.
To become a KYC user, you will have to upgrade your account in Mobikwik and apply for KYC. The company will send anyone to collect the documents from you and finish the process within 48 hours.
Let us know whether this process is working for you by commenting in the comments section below. We’d love to hear about it from you.