Tutorial on Adding a Bank Account and Making an INR Deposit to WazirX
I'm thrilled that you're contemplating using WazirX as part of your crypto adventure. Feel free to reach out to us for help at any time. Even if you still have questions after reviewing our introductory materials, please feel free to contact us for further assistance.
Getting Started with WazirX Guides
WazirX: How to Add a Bank Account
You can link your bank account (for IMPS transactions) and UPI details to your WazirX account once you have completed the KYC process. Note that adding your banking information is a prerequisite for engaging in any cryptocurrency trading. However, you can edit your profile as often as you like (up to five times). The authentication procedure will need to be started again whenever a new account is created.
Multiple UPI identifiers and bank accounts can be added. Then, from the available payment methods, you can choose your preferred default Bank/UPI account.
To ensure that your INR transactions go through without a hitch at the bank's end, we double-check both the bank account and UPI ID you use.
WazirX users, here's how to link your bank account:
In the mobile device's "Settings" menu, tap "Banking & Payment options."
On the web, access your account settings by selecting the gear icon (circled in the image below) and then clicking "Account Settings." Then select "PAYMENT OPTIONS" from the menu that appears.
Second, select "ADD A NEW PAYMENT OPTION" under "BANK ACCOUNT" on your mobile device or computer.
Third, provide the requested information and send the form (on mobile or desktop).
Our teams will double-check the bank information after you submit it to us.
WazirX: Adding Your UPI Information
The first step is the same for both mobile and desktop users.
Second, select "ADD A NEW PAYMENT OPTION" under "UPI."
Third, provide the information requested and send the form.
The UPI information you provide will be checked by our teams once submitted.
- Once you link your Bank account to your WazirX account, we will immediately verify your Bank account and UPI.
- To avoid any confusion, please only link the bank account and/or UPI ID that is in your name. It is not possible to verify a WazirX account unless the name on the account and the name on the bank account are the same.
You'll receive an email as soon as your information has been confirmed.
WazirX: How to Add Indian Rupees
Once you've verified your bank account, you'll be able to begin adding funds (INR) to your WazirX wallet. In addition to Net Banking, the Mobikwik e-wallet can be used to deposit Indian Rupees into your WazirX account.
This is what you should do:
The first thing you need to do is head over to the WazirX app or website and tap the "funds" button.
Two, go to the drop-down menu and pick "INR."
Here's Step 3: Make a Deposit
Step 4: Decide whether you want to make an Instant Deposit via Net Banking or a Wallet Transfer to add Indian Rupees.
Step 5: Put money in the bank
- With the Instant Deposit (Net Banking) option, you can:
- The first step is to enter the deposit amount and then click the Continue button.
- Second, your browser will take you to the Internet Banking section of your bank's website. Type in your Username and Password for the online banking system. Approval of the transaction is required before proceeding after a successful login.
- Take Note:
- Only banks that are compatible with the net banking feature can be used to transfer funds. Here is a rundown of the accepted financial institutions: We will keep you updated as we add more financial institutions to this.
- Your WazirX account will be credited with the deposit within 24 hours of a successful fund transfer. Most deposits are completed in much less time (sometimes within an hour).
- You can use the Instant Deposit (Wallet Transfer) option if you want to transfer money directly from your Mobikwik wallet. Here:
- First, enter the amount you wish to deposit, then click Continue, and finally Make Payment.
- Followed by Step 2: Verifying the OTP via the Registered Mobile Number
- Step 3: You'll then be brought to Mobikwik's payment page, where you can check your wallet balance.
- Step 4: Complete the transaction; your money should be available in your account within 24 hours.
- It is important to emphasize that
- Before making a purchase, make sure your Mobikwik wallet has sufficient funds (via UPI/Bank account/Debit card). Funding your wallet with a credit card is currently not an option.
Things to keep in mind
- Withdrawals from your WazirX account to your Indian Rupee bank account may take a little longer than usual in rare circumstances. Those funds are safe with us; don't worry. We have a proven track record of success, with all reported cases ending in successful refunds to the original account holders (via WazirX or traditional banking). WazirX merely takes a deposit and doesn't keep any of the funds.
- In the event that you have been waiting for more than 7 business days for an answer to an issue, you can contact our devoted support team here.
Questions & Answers
How come I can't add money to my WazirX wallet?
It's possible that this is due to a number of factors. If you are unable to add funds, it is likely because...
- Neither the IFSC code nor the bank account number provided is correct.
- Bank information is correct, but there is a mismatch in names. If you receive this message, it means that the name on your bank account does not match the name you used when signing up for WazirX.
- This deposit is not being made from your verified bank account.
- This bank is not a supported option for this account.
- Invalid username or password entered on bank website
- Currently, the service is being maintained. When we plan to perform maintenance, we do let people know.
Can a different person's banking information and UPI be used to make a payment?
No Your name must be on the bank and UPI account. Nonetheless, you can be a joint account holder if you so choose.
What is the cost of making a down payment, if any?
Yes Payment processors are used to ensure that deposits are processed quickly enough to be reflected almost immediately. Deposit fees vary by payment method and are detailed on the INR deposit page. All applicable taxes are already accounted for in the deposit fee.
How low/high can a deposit be made in Indian Rupees?
Yes The lowest amount you can deposit is 100, and the highest is 4,000. 99,000 Indian Rupees per online bank transfer However, there are no limits on the number of transactions you can make per day.
UPI and Net Banking INR deposits are currently disabled. With the launch of WazirX P2P, Indian rupees can now be used to purchase USDT on Wazirx, allowing users to participate in our USDT market. If you want to find out more, visit this link.
For a more thorough introduction, watch this video by Wazirx.
A word of caution: crypto is not money and is not backed by anything. Due to the high price volatility of cryptocurrencies, it is important to conduct a thorough risk analysis before trading. Nothing in this section should be taken as investment advice or as WazirX's official stance on the matter. WazirX may, at any time and for any reason, revise or alter this blog post at its sole discretion.
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