Wecap wallet & KYC — deposits, withdrawals, document list
The Wecap wallet menu handles KYC, deposits, withdrawals and bonus funds. The working reference covers for every wallet flow.
What you need to clear KYC
KYC is mandatory before the first withdrawal and before any paid contest settles. The document list is short and the verification typically completes within two hours during business hours.
| Document | Notes | Required for |
|---|---|---|
| PAN card | Front scan, clear of glare | Identity + tax compliance |
| Aadhaar | Front scan (and back if older format) | Address verification |
| Bank account | Account holder name must match PAN | Withdrawals |
| UPI handle | Verified by a small credit-debit round-trip | Instant deposits / withdrawals |
| Selfie | In-app capture; matches PAN face | Liveness check |
Deposit rails on Wecap
Three rails, one wallet. The minimum deposit is ₹100.
Instant deposits via any UPI app. Most users fund their wallet in under 30 seconds.
Direct bank transfer for deposits above ₹5,000. Supported banks list is in the wallet menu.
Credit and debit cards via the payment aggregator. Card deposits above ₹10,000 require 2FA.
Default per-deposit cap is ₹50,000; the per-day cap is ₹2,00,000. Higher limits require enhanced KYC.
Withdrawal speed & limits
Wecap posts withdrawals through the same rails as deposits. UPI is fastest; bank transfers handle the largest amounts.
How fast withdrawals post
- UPI · Within minutes once KYC clears
- Bank transfer · 1–3 banking days
- Card refund · 3–5 banking days, original-method
Per-day & per-month caps
- Per-transaction · ₹1,00,000 (UPI) / ₹5,00,000 (bank)
- Per-day · ₹2,00,000 default; enhanced KYC raises this to ₹10,00,000
- Per-month · ₹20,00,000 default; enhanced KYC raises this to ₹50,00,000
Disputes, reversals & holds
Most disputes resolve inside the wallet menu. Anything that escalates routes to the payments desk within an hour.
My deposit shows as pending for more than 30 minutes.
Open the in-app wallet and tap the transaction. If the status is still pending after 30 minutes, the payment desk is already routing it; an in-app chat message with the transaction ID will pin the queue.
My withdrawal is held for review.
Holds are usually triggered by KYC review or first-withdrawal verification. The payments desk contacts you through in-app chat; replies within one hour clear most holds.
Can I reverse a withdrawal?
Pending withdrawals can be reversed from the wallet menu. Once posted, withdrawals cannot be reversed by the user; contact the payments desk for any post-posting correction.
What if my UPI handle fails verification?
Switch to net-banking or card for the first deposit. The payments desk reviews failed UPI handles manually; the typical resolution window is two working hours.
How long KYC takes, in detail
The desk targets two-hour KYC verification during business hours. Off-hours verifications run overnight. The breakdown below covers each step.
Document upload
Average: 2 minutes. The in-app scanner auto-detects the document boundary; the user confirms with a tap. PAN takes under a minute; Aadhaar two minutes including both sides.
Liveness check
Average: 30 seconds. The user captures a selfie; the system matches it to the PAN face. Failed matches fall back to manual review.
Verification
Average: 90 minutes during business hours, 8 hours overnight. The KYC partner runs document validation, name match and address match.
Bank verification
Average: 1 minute. A small credit-debit round-trip confirms the bank account is reachable. UPI handles verify in under 10 seconds.
Default and enhanced limits
Every account starts with default limits. Enhanced KYC raises the limits; the thresholds are documented below.
| Limit | Default | Enhanced KYC |
|---|---|---|
| Per-deposit cap | ₹50,000 | ₹2,00,000 |
| Per-day deposit | ₹2,00,000 | ₹10,00,000 |
| Per-month deposit | ₹20,00,000 | ₹50,00,000 |
| Per-transaction withdrawal | ₹1,00,000 | ₹5,00,000 |
| Per-day withdrawal | ₹2,00,000 | ₹10,00,000 |
| Per-month withdrawal | ₹20,00,000 | ₹50,00,000 |
Reader questions about Wecap wallet & KYC
Reader questions sent to the desk in the last quarter, answered in editorial voice. Send yours via /contact/.
Why does Wecap need my PAN?
PAN is mandatory under the PROG Act, 2025 for any real-money platform. The PAN is used for tax compliance, identity verification and KYC document match.
Why does Wecap need my Aadhaar?
Aadhaar is the address-verification document of choice under the PROG Act, 2025. The Aadhaar scan is retained for 7 years; only the last four digits are used for verification.
Can I use my parents' bank account?
No. The bank account holder name must match the PAN. Mismatched names trigger a hold until corrected; the corrected KYC clears within two hours.
What if my UPI handle fails verification?
Switch to net-banking or card for the first deposit. The payments desk reviews failed UPI handles manually; the typical resolution window is two working hours.
Can I withdraw to a different bank account than the one I deposited from?
Yes, after the first withdrawal is processed to the original rail. Cross-rail withdrawals require additional verification.
Transaction statements & tax compliance
Wecap publishes transaction statements for tax compliance. The statements are downloadable from the wallet menu.
- 1Open the wallet menu
The wallet menu has a Statements section. Annual statements are downloadable as PDF; quarterly statements are available on request.
- 2Choose a year
The wallet menu lists every year since account creation. Each year has its own statement PDF.
- 3Download the PDF
The PDF includes every deposit, withdrawal, contest entry, contest winnings and bonus settlement. The format is suitable for tax filing.
- 4TDS certificate
Wecap issues a TDS certificate for any net winnings above the threshold. The certificate is downloadable from the wallet menu by 30 June of the following financial year.
What enhanced KYC unlocks
Enhanced KYC raises the per-day, per-month and per-transaction caps. The threshold and the documents are documented below.
When enhanced KYC kicks in
Enhanced KYC kicks in when you request a cap above the default. The request is one tap in the wallet menu; the verification typically completes within two hours during business hours.
What enhanced KYC needs
Enhanced KYC adds a proof-of-address document to the standard KYC set. Acceptable documents include a recent utility bill, bank statement or rental agreement. The document must be under three months old.
How long enhanced KYC lasts
Enhanced KYC remains valid for the lifetime of the account, with a refresh every three years. The wallet menu prompts for refresh when the current enhanced KYC approaches expiry.
What to do if KYC is rejected
KYC rejections are rare but happen. The most common reasons are documented below.
Document mismatch
The PAN name does not match the Aadhaar name. Submit a corrected document or contact the desk for manual verification.
Liveness failure
The liveness check failed to match the PAN face. Re-capture the selfie in better lighting; the desk reviews the resubmission within 2 hours.
Bank verification failure
The bank account holder name does not match the PAN. Use a bank account in your own name, or contact the desk for guidance on joint accounts.
What happens when KYC is held for review
KYC reviews happen when the document scan, liveness check or bank verification fails. The hold procedure is documented below.
- 1Auto-hold
The KYC partner auto-holds the verification if any check fails. The user is notified via in-app notification within minutes.
- 2Reason communicated
The hold reason is communicated in the in-app notification. The most common reasons are documented in the "rejection" section above.
- 3Resubmission
The user can resubmit the failed document or check. Resubmissions are reviewed within 2 hours during business hours.
- 4Manual review
If the resubmission fails, the verification goes to manual review. Manual reviews typically complete within one working day.
- 5Outcome
The user is notified of the outcome. Cleared KYC unlocks withdrawals; rejected KYC routes to account suspension.