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FAQ - Bank Account Validation

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  • What is Bank Account Validation? Down Arrow

    Bank Account Validation is a legal mandate which ensures that your money is secure. We do a validation by comparing your name in the KYC document with the name of the bank account holder.

  • What is Bank Account Validation? Down Arrow

    Bank Account Validation is a legal mandate which ensures that your money is secure. We do a validation by comparing your name in the KYC document with the name of the bank account holder.

  • How can I update my Bank Account? Down Arrow

    You can update your Bank Details from the Withdrawal Page. Click on Bank Account followed by the ‘Edit’ button. Alternatively, you can add up to 5 UPI Accounts. Please note that the UPI ID must belong to you and not someone else.

  • Why is Bank Account Validation Mandatory? Down Arrow

    Bank Account Validation ensures that your money is not transferred to any other person even by mistake. This helps us in making My11Circle even more secure.

  • Can I provide a Bank Account of my relatives like parents, spouse, kids etc.? Down Arrow

    No, the Bank Account must belong to the same person whose KYC documents are uploaded in the system.

  • The bank account I have shared is the only one I have. What can I do now? Down Arrow

    You can explore other payment banks that can be created online. Some of the commonly used apps are Airtel Payments Bank, Paytm Payments Bank, India Post Payments Bank, Jio Payments Bank etc. Please note that this is only a sample list and is not exhaustive or suggestive in any manner.

  • I am the sole owner of a business, can I use the bank account of my business? Down Arrow

    No, business accounts cannot be used for transactions on our platform.

  • There is a typo in my KYC document. How can I correct this? Down Arrow

    Minor spelling errors usually should not cause rejection of Bank Account Validation. However, if you wish to update your KYC, please write to support@my11circle.com.