KYC Documents: Everything You Need to Know

KYC Documents : Everything You Need to Know
(Last Updated On: March 4, 2022)

Unless you want your bank to shut down or close your account, you NEED to submit your Know Your Customer -KYC documents. Here is a brief introduction to what KYC is and why you need to update these documents with your bank.

What is KYC:

Know Your Customer (KYC) is a mandatory RBI process that was incorporated by the banks to prevent any kind of financial fraud. This helps banks get to know their customers better and help manage risks and protect them from financial crimes like money laundering, identity theft and terrorist financing. It also helps the bank understand their customers better and manage their risks more efficiently. 


What are KYC Documents:

KYC documents are used to verify an individual or company’s financial authenticity. If you are an individual, you would need to submit:

  1. An ID proof
  2. An Address proof

Your respective bank has a list of documents for each of the above. You can submit any one of the following documents for ID proof:

  • PAN Card
  • Voter’s ID
  • Aadhaar Card or Aadhaar Letter (Read all about updating your Aadhar here
  • Driving License
  • Ration Card
  • Other ID cards that are accepted by your bank 

For Address proof:

  • Utility bills like electricity/LPG bill
  • Bank Statement
  • Ration Card
  • Employer letter (if accepted by the bank)

If you are a Merchant:

You would need to submit documents as per the type of company you are a part of. You would also need to submit your individual KYC documents. You can also take a look at the list of KYC documents according to the nature of your company. 

Read more: How to protect your business from online payments fraud  

Update KYC to remove limits on Instamojo

If you are a merchant on Instamojo and want to remove the upper limit of ₹10,000 on your monthly transactions, all you need to do is submit your KYC documents on your dashboard.

To remove limits on Instamojo, all you have to do is submit:

  1. A photo of your PAN card
  2. A Bank document that can be any of the following:  A recent Bank Statement or the front page of your chequebook/passbook. Please note that your address and the account number should be clearly visible

You can do it in just a few clicks. Watch this tutorial to see how you can update your KYC on Instamojo:


Want more info? Visit our Support centre to know more about updating your KYC at Instamojo.

Instamojo is the easiest way to collect payments online. Start your Instamojo experience now!


  1. Hi,
    We are facing problems for processing payments currently.
    Some payments has been completed through instamojo gateway but no no more orders has been processed.

    What’s the issue?

  2. You can also see how much a transaction will cost you with the Instamojo fee calculator. If you do have very large payment volumes per month, you can reach out to Instamojo to see if there can be a customized pricing option for your volume and needs.

  3. Will there be no sales if the transaction limit is exceeded . I have submitted the documents. But what about the sales within this period till I get upgraded, would I be able to make any sales or not above 10000 limit

  4. Hi

    I have a side business in a different name, with a website in which I want to incorporate instamojo. However its a small personal business not yet registered, and bank account and PAN card are in my name not the business. Personal bank account’s kyc is already done with the bank.
    Will I be able to remove the 10,000 limit?
    So I need to submit some documents to instamojo?

  5. Is is manadatory to do KYC? Without KYC how much amount we can transfer in the month? Can you please help me out?

  6. Hello
    My name is Kishan Gupta I want to know that are gst is mediatory to use payment gateway system

  7. I am a commission artist and require a payment portal for transactions…. Is it necessary to have a credit card?

    1. No, there are other modes of payment that you can use. With Instamojo, you can use different payment modes to collect payments – UPI, NEFT/RTGS, E-Wallets and Netbanking are some of the options available.

  8. Hai, i like to resell clothes in instamojo for that do i need business licence to remove the limit ,kindly please help me as soon as possible,i dont have a business licence

  9. Currently I am working as individual contributor, in KYC section I have mentioned it, I have no website this time , but I have a weblink where I Update my product and services,
    instamojo asking for resubmission of information about my product, services and website, how can i resolve it , this time I have no website but have weblink can be used to check Update for my product and services

  10. i have personal blog without any company registration. can i remove transaction limit by submitting kyc documents.

  11. Hey Sarah,

    1. Yes. you will need to submit documents for individuals to your bank. You can just walk in to your bank and they’ll help you out. Axis Bank has e-KYC, which means you can update your KYC online but it’s a slighly more technical process.

    2. While signing up and updating your KYC, make sure your PAN number and Name and account number of the bank statement are all valid. We just want to make sure your money is safe and no one is trying to make money at your expense. Our support/compliance team will get in touch with you for everything else.

    Have more questions? Please feel free to drop an email to
    Hope this helped!
    Keep reading!

  12. 1. What about documents requirement for Freelancers eg: graphic artists, or photographers? so do I provide indiv docs?
    2. I do have a virtual brand (no registration,et), called “Sarah Sever’s Photography”….does that let me use my virtual company’s name or should I go by name, when i register with InstaMojo and what documents would you ak of me?
    I do not have any banking account in this name either!

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