We’re excited to inform you that as our valued customer, you’ve received an automatic upgrade on the OlaMoney Wallet. Enjoy everything that you already loved about your wallet but with greater perks and privileges.
What does this upgrade mean for me?
- You can now use your OlaMoney Wallet for years to come.
- You can spend as much as you want.
- You can add up to Rs 1.2 lakhs per financial year to your wallet. The monthly limit to add funds remains Rs 10,000.
Can I transfer money from my OlaMoney Wallet to another bank account or a digital wallet?
No, you can’t transfer money from your wallet to a bank account or a digital wallet. However, if you complete the full KYC process, then you will be able to transfer funds to a bank account. Click here to know more.
Is this the only type of OlaMoney Wallet that’s available for me to choose from?
From February 28, 2020, there will be two variants of the OlaMoney Wallet available to all users:
- Minimum KYC
All users that have completed the minimum KYC process, as dictated by the RBI guidelines, will automatically enjoy the latest upgrade - Full KYC
All users that have completed the full KYC process, as dictated by the RBI guidelines, will get additional benefits. Click here to know more.
Can I opt out of this upgrade?
Yes, write to us at <insert email ID> by February 28th. If you also don’t complete your full KYC process, then your account will expire by February 28, 2020. After that, you won’t be able to add money to your wallet and cashback offers will not be processed. You can still spend the remainder of your balance amount and all refunds will be processed.