Nepal’s popular digital wallet and payment service provider company eSewa has launched a new KYC system. The company has made a new arrangement to stop the misuse of details such as SIM, citizenship, and passport in the name of others.
The company has started a new process of KYC verification to prevent the misuse of social media based on other people’s personal details. In this new method, the customer has to enter all his personal details in the first step.
Similarly, in the second step, you have to mention the address and in the third step, you have to take a live photo and upload it. Only after that, KYC is considered to be fully verified and updated in eService.
From now on, eSewa said that it will not be verified on the basis of photos saved on mobiles and laptops. Instead of that, you have to take a live picture so that both ears are visible. According to the company, this arrangement has been made to prevent other people from misusing documents such as citizenship, passport, and voter ID to open an eSewa account.
By verifying KYC, you can also get facilities such as being able to transact more than 2500 rupees, transfer money to a bank account, receive remittances, or participate in various e-service offers and giveaways. But these facilities are not available for users who do not verify KYC.
By verifying KYC, you can also get facilities such as being able to transact more than 2500 rupees, transfer money to a bank account, receive remittances, or participate in various e-service offers and giveaways. But these facilities are not available for users who do not verify KYC.
What is eSewa KYC?
If you have opened an account in any bank, then surely you must have filled or updated the KYC details. The customer identification system itself is called KYC (Know Your Customer) in English.
To control financial fraud, prevent money laundering and identify suspicious activities, Nepal Rastra Bank has mandated banks and financial institutions as well as wallets to verify the KYC of their customers and update it periodically.
At first glance, it may seem like a hassle for the customer, but it is also important for the customer’s safety. A KYC form is also required to be filled out so that one cannot hide money earned in illegal ways in a bank or financial institution.
This helps to understand whether a person’s property comes from the right source or not. In other words, it means that no wrong person can do unauthorized work from the financial institution.
In KYC, details such as account number, names of parents and grandparents, occupation, citizenship, passport or driving license number, debit or credit card number, address, etc. must be mentioned.
How to verify eSewa KYC?
- To verify your KYC, first log in to eSewa’s mobile app.
- Then go to Update (UPDATE) with the Information at the beginning or go to My Information at the beginning through the profile icon at the top right corner and go to Begin.
- Grant access to your location by pressing the ALLOW button in the new popup window that opens
- Now in the first step, open your name, date of birth, gender, father or husband’s name, grandfather or father-in-law’s name, marital status, profession, PAN number, and email address if available, and press the Save & Continue button at the end.
- After this, eSewa asks you to verify the personal details you have just provided. If all the mentioned details are correct, tap the PROCEED button at the end
- Now in the second step, enter the current address (current address) and permanent address (permanent address) – state, district, local level, toll, ward number and press the SAVE & CONTINUE button at the end.
- Confirm the details again and press the PROCEED button and click on the file icon under Upload Your Picture.
- Now the camera opens, from where you can take a clear photo of yourself with both your ears visible
- Now go to the Select button under Upload Document and choose your identity document (citizenship, passport, driving license, or voter ID card).
- After filling in the details in the said document, upload two separate photos showing the front and back of the document and click on PROCEED at the end.
- Confirm all the details just included and click on the SUBMIT FOR VERIFICATION button at the end and put a tick before the requested location-related condition and click on SUBMIT KYC.
- In this way, eSewa will verify the KYC form within two days i.e. 48 hours.
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