We are introducing about a new policy regarding wallet activity on our platform. As part of our ongoing efforts to ensure secure and efficient service, we are introducing a Dormant Wallet Policy.
What is a Dormant Wallet/Utility service de-board?
- As per Utility guidelines, Any Agent who does not initiate a transaction after onboarding, or remains inactive for a continuous period of 45 days, will be classified as an Inactive Agent and will be required to complete Re-KYC (subject to a nominal compliance fee up to Rs 500+GST).
- Agents remaining inactive for 90 days will be classified as deactivated under BBPS services and may be deboarded in accordance with regulations.
- Additionally, if there is no wallet activity for a continuous period of 180 days, the Agent Wallet will be marked as Dormant, which may lead to temporary suspension or restriction of wallet services until reactivation procedures are completed.
Please note that once an Agent is deboarded/wallet dormant, re-boarding will require payment of the applicable setup fee, as per the prevailing rates at the time of re-boarding. However, there will be no need to resubscribe to your existing plan. |
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📝 Important Notes |
✔ A dormant wallet does not indicate that your account is inactive.
✔ Your account remains fully active, and all other services you use will continue without interruption.
✔ Only the wallet functionality and BBPS are temporarily restricted due to inactivity. |
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⚡ Action Required |
| To ensure uninterrupted access to services and avoid any disruption, we strongly recommend initiating transactions and maintaining regular wallet activity within the stipulated timeframes. |
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🔄 How the Dormant Wallet Period is Calculated:
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The system checks the last transaction date on the wallet (this includes any transaction such as add funds, send, receive, withdraw, etc.).
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From that date, it counts consecutive calendar days with no transaction activity.
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If 180 full days pass without a single transaction, the wallet is automatically marked as Dormant on the 181st day.
🧾 Example:
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Last transaction date: May 1st
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No wallet activity from: May 2nd onwards
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The wallet becomes Dormant on October 28th (i.e., after 180 days of inactivity)
Need Immediate Help?
📞 Call: 18008890016 (Toll-Free)
💬 WhatsApp: 7070300613
Why This Policy?
Enhances security against unauthorized access
Helps maintain efficient wallet service performance
Complies with financial best practices
We appreciate your cooperation and remain committed to providing you with secure, seamless transactions.
Thank you for being a valued KwikAPI partner!
