📌 Overview
Quick Ride offers RBI-regulated Min-KYC PPI Wallets with simplified documentation and lower transaction limits compared to Full-KYC wallets.
🔹 Key Features
- Maximum Balance: ₹10,000 at any time
- Monthly Load Limit: ₹30,000
- Yearly Load Limit: ₹1,20,000
- No Withdrawals/Transfers (Allowed only after Full-KYC upgrade)
- Validity: Max 2 years (Must upgrade to Full-KYC for continued use)
📋 Requirements to Open a Min-KYC Wallet
- Verified Mobile Number (via OTP)
- Self-Declared Name & Identification (Aadhaar, PAN, Voter ID, etc.)
💸 Loading Money into Min-KYC Wallet
You can add funds via:
- UPI
- Debit/Credit Cards
- Bank Account Transfer
- Other RBI-approved methods (INR only)
⚠️ Important Restrictions
- No withdrawals or transfers allowed.
- After 2 years, no further loading permitted unless upgraded to Full-KYC.
- Existing balance can still be used for payments even after expiry.
🔄 Upgrading or Closing Min-KYC Wallet
- Upgrade to Full-KYC:
- Enables higher limits (up to ₹2,00,000)
- Allows withdrawals & transfers
- Close Min-KYC Wallet:
- Transfer balance back to the original funding source
- OR Upgrade to Full-KYC and transfer to a bank account
📌 Note: For Full-KYC wallets, additional documentation (Aadhaar, PAN, etc.) and verification are required.
The user must complete the Know Your Customer (KYC) requirements as per RBI guidelines:
- Small PPIs: Issued with minimum KYC; Restricted to a maximum balance of Rs. 10,000 and an annual limit of Rs. 1,20,000.
- Full-KYC PPIs: Issued after full KYC verification; allows funds transfer, cash withdrawal, and an outstanding balance up to Rs. 2,00,000.
By registering for and using the PPI Wallet/Card, you hereby declare and confirm that:
The name and personal details provided by you at the time of registration are true, correct, and complete to the best of your knowledge.
You are the lawful holder of the identity document(s) submitted, and such details represent your unique identity as recognized under applicable laws.
You agree that any false, misleading, or misrepresented information may result in suspension/termination of your PPI account and may attract action as per applicable laws.
You undertake to promptly update us in case of any change in your name or identity details.
By accepting these Terms and Conditions, you provide your explicit consent to this self-declaration and authorize us to rely on the information provided by you for the purpose of issuance and usage of the PPI Wallet/Card.
The PPI Wallet can be loaded using bank transfers, credit/debit cards, UPI, and other permitted methods.
The PPI Wallet can be used for purchases, bill payments, and money transfers as per regulatory limits.
Fund transfers from Full-KYC PPIs to other wallets or bank accounts are permitted as per RBI limits:
- To pre-registered beneficiaries: Up to Rs. 1,00,000 per month.
- To other accounts: Up to Rs. 10,000 per month.
Full-KYC PPIs are interoperable, allowing transactions across multiple payment networks.
Small PPI has a validity of 2 years, and Full PPI has a validity of 3 years.
The PPI will expire once the validity period is over.
Both Small PPI and Full PPI will expire if there is no activity for a period of 1 year.
Users will receive a notification 45 days before the expiry of the PPI balance.
Post Expiry, the balance is not accessible.
Users agree to pay applicable fees, including transaction fees, loading charges, and withdrawal fees, as disclosed by the Issuer.
Fees may be revised, and Users will be informed in advance.
Users must ensure that their PPI Wallet credentials remain confidential.
Any unauthorized use or suspicious transactions must be reported immediately.
Users must update personal details if there are any changes.
Users can raise complaints via customer support channels provided by the Issuer.
Complaints will be addressed within the prescribed turnaround time.
If unresolved, Users can escalate to the RBI Ombudsman.
The Issuer reserves the right to suspend or terminate the PPI Wallet if:
- The User violates these T&C.
- There is suspected fraudulent activity.
- Directed by regulatory authorities.
The Issuer may amend these T&C from time to time in compliance with RBI regulations.
Users will be notified of any changes, and continued usage implies acceptance.
These T&C are governed by Indian laws. Any disputes shall be subject to the jurisdiction of Bengaluru courts.
| Feature | Min-KYC | Full-KYC |
|---|---|---|
| Type of PPI | Reloadable | Reloadable |
| Number of PPI to be issued to one Customer (Active) | 1 | 1 |
| Maximum Allowed Balance | 10,000 | 2,00,000 |
| Maximum Transaction Count Per Day | 12 | 12 |
| Maximum Transaction Amount Per Day | 10,000 | 20,000 |
| Maximum Transaction Count Per Month | 100 | 200 |
| Maximum Transaction Amount Per Month | 20,000 | 1,00,000 |
| Maximum Transaction Count Per Year | 1000 | 1,000 |
| Maximum Transaction Amount Per Year | 1,20,000 | 3,00,000 |
| Maximum Debit Transaction Count Per Day | 6 | 10 |
| Maximum Debit Transaction Amount Per Day | 10,000 | 25,000 |
| Maximum Debit Transaction Count Per Month | 100 | 200 |
| Maximum Debit Transaction Amount Per Month | 10,000 | 1,00,000 |
| Maximum Debit Transaction Count Per Year | 500 | 1,000 |
| Maximum Debit Transaction Amount Per Year | 1,20,000 | 3,00,000 |
| Maximum Credit Transaction Count Per Day | 12 | 12 |
| Maximum Credit Transaction Amount Per Day | 10,000 | 25,000 |
| Maximum Credit Transaction Count Per Month | 100 | 150 |
| Maximum Credit Transaction Amount Per Month | 10,000 | 1,00,000 |
| Maximum Credit Transaction Count Per Year | 500 | 1000 |
| Maximum Credit Transaction Amount Per Year | 1,20,000 | 3,00,000 |
| Maximum Amount Loaded Per Day | 10,000 | 20,000 |
| Maximum Amount Loaded Per Month | 30,000 | 1,00,000 |
| Maximum Amount Loaded Per Year | 1,20,000 | 3,00,000 |
| Maximum Beneficiaries Added Per Day | 0 | 1 |
| Cooling off Period post adding beneficiary | NA | 30 mins |
| Cash Withdrawal Count Limit Per Day | Not Permissible | 1 |
| Cash Withdrawal Amount Limit Per Day | Not Permissible | 10,000 |
| Cash Withdrawal Count Limit Per Month | Not Permissible | 5 |
| Cash Withdrawal Amount Limit Per Month | Not Permissible | 50,000 |
| Virtual Card Activation | Permitted | Permitted |
| Physical Card Activation | Not Permissible | Permitted |
| Number of Card Transactions Per Day | 2 | 5 |
| Inactivation of Card | 1 yr | 1 yr |
| Wallet Validity | Max 2 Years | Max 3 Years |
💼 General Overview
1. What is the Quick Ride PPI Wallet?
Quick Ride PPI Wallet is a secure, in-app payment option designed to make your rides faster and more convenient. It allows you to pay instantly, track your spending, and enjoy hassle-free refunds – all in one place.
🏦 Types of Quick Ride PPI Wallets
2. What types of PPI Wallets does Quick Ride offer?
Quick Ride offers RBI-regulated wallets:
- Min-KYC PPI Wallet: Up to ₹10,000 limit with minimal documentation.
- Full-KYC PPI Wallet: Up to ₹2,00,000 limit after full KYC completion.
3. How is a Min-KYC wallet different from a Full-KYC wallet?
- Min-KYC Wallet: Limited features and lower limits. Cannot withdraw or transfer funds.
- Full-KYC Wallet: Higher limits, supports fund transfers and withdrawals.
💳 Loading and Limits
4. How can I load/reload money into my Quick Ride PPI Wallet?
You can add money using:
- UPI
- Bank account debit
- Credit/debit cards
- Other RBI-regulated instruments (in INR only)
5. What information is required to open a Min-KYC Wallet and features?
- Verified mobile number (OTP)
- Self-declared name and identification (e.g., Aadhaar, PAN, Voter ID)
- A Minimum KYC Wallet must be upgraded to a Full KYC Wallet within 2 years.
- Cash withdrawals and peer-to-peer money transfers are not allowed in a Minimum KYC Wallet.
6. Can I withdraw funds from a Min-KYC Wallet?
No. Withdrawals and transfers are only allowed after upgrading to a Full-KYC wallet.
7. What happens after 2 years if I don't upgrade my Min-KYC Wallet?
No further credits will be allowed, but you can continue to use the existing balance.
8. Can I close my Min-KYC Wallet?
Yes. You can request closure and transfer the balance to the original funding source. Alternatively, convert to Full-KYC and transfer to your bank account.
🔐 Full-KYC Wallet Features
9. What are the features of a Full-KYC Quick Ride Wallet?
- Reloadable
- Max balance: ₹2,00,000
- Enables purchase, withdrawal, and fund transfers
10. Can I transfer money from my Full-KYC Wallet?
Yes. Fund transfers are allowed up to ₹1,00,000 per month per user.
11. How can I close a Full-KYC Wallet?
Within the Quick Ride app, you can close your wallet and transfer the balance to your bank account.
💳 Quick Ride RuPay Prepaid Card – FAQs
12. What is the RuPay Prepaid Card?
It's a physical card linked to your Quick Ride Wallet, issued in partnership with Maximus Infowares (India) Pvt. Ltd. for wider offline and online usage.
13. What is the 16-digit number on the front of the card?
This is your unique card number required for online payments. Never share this number.
14. Who can use the card?
Only the cardholder (as per the name printed) is authorized to use the card.
15. Where can I use this card?
Anywhere in India that accepts RuPay cards – look for the RuPay logo at merchant outlets.
💸 Fees & Charges
16. What are the charges for card usage and transactions at other bank ATMs?
- Loading the PPI via Credit Card: 2% of the amount loaded
- Loading the PPI via Debit Card, UPI, Net Banking, or others: 1% of the amount loaded
- Upgradation from Minimum KYC to Full KYC: ₹25
- PPI Maintenance of Active Accounts: ₹25 per month
- PPI Maintenance of Inactive Accounts: ₹50 per month
- New Card Issuance: ₹300 + GST
- Annual Card Charges: ₹300 + GST
- Lost/Duplicate Card: ₹300 + GST
- Duplicate PIN: ₹25
- Amount Withdrawal to Bank from Wallet: 3% or minimum ₹10 per transaction
- First 5 transactions per month: Free
- From the 6th transaction onwards: ₹20
- Balance Enquiry: ₹20
- Mini Statement: ₹20
- PIN Change: ₹20
- Cash Withdrawal: ₹20
- Transaction Slip Retrieval: ₹100
17. How can I raise a grievance or report an unauthorized transaction?
You can immediately call our Customer Support Helpline at 080 4568 6686 to report your concern. You may also write to us at support@quickride.in
For detailed steps, please refer to our
Customer Support and Grievance Redressal Policy.
Note: POS/eCommerce transaction charges apply as per NPCI & RBI guidelines. All charges are exclusive of applicable taxes and subject to change.