How To Add A Bank Account And Deposit INR On WazirX?

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Dear Tribe!

Thank you for choosing WazirX as your crypto investment partner for your crypto journey. Please be assured that we are here for you if you need assistance. If you still have any concerns after going through our guides, you can always reach out to us here.

WazirX Guides

How to Add a Bank Account on WazirX?

After creating your WazirX account and completing the KYC process, you can proceed with adding your bank account (for NEFT, RTGS, and IMPS transactions). Please note that you will have to add your bank details first to deposit funds – to your WazirX wallet to undertake any crypto trade, as without funds, you won’t be able to trade. However, you can remove and add new details whenever you wish (a maximum of five times in 30 days). When a new account is added, the verification process will be reinitiated.

You can also add multiple bank accounts. And, as per your preference, you can select your default Bank account (from the payment options).

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NOTE: To facilitate smooth deposits and withdrawals of INR transactions, we verify the Bank account so that the transactions don’t get stuck/ fail at the banking end.

The following are the steps for adding a bank account on WazirX.

Step 1:

Mobile: Go to the ‘Settings’ menu on the top left corner and select ‘Banking & Payment.’

Web: Click on the icon highlighted in the image below and then on ‘Account Settings. Then click on ‘PAYMENT OPTIONS’.

Step 2 (Mobile & Web): Under ‘BANK ACCOUNT,’ click on ‘ADD A NEW PAYMENT OPTION’

Step 3 (Mobile & Web): Now, fill in the requested details and click submit. You can find your bank details in the Passbook/ Bank Statement or Bank’s Netbanking app.

Once you have submitted the correct bank details, our teams will verify them.

NOTE: KYC should be verified for a bank account to be verified.

How to Deposit INR on WazirX?

Once your bank account is verified, you can start depositing funds (INR) into your WazirX wallet.

Here are the steps you can follow:

Step 1:

Mobile: On the WazirX app, click ‘Funds’ in the bottom right corner.

Web: Click on ‘FUNDS’ in the header.

Step 2:

Mobile: Select ‘INR.’

Step 3: Click on ‘Deposit.’

Mobile:

Web:

Step 4 (Mobile and Web): Now, you can choose ‘Instant Bank Transfer – IMPS/ NEFT/ RTGS’ or ‘Standard Deposits,’ as per your reference.

Step 5: Voila! You can start depositing funds now!

After clicking on ‘Instant Bank Transfer – NEFT / RTGS,’ click on ‘Show Bank Details.’

Add the provided bank details as a beneficiary to your banking app/net banking account.

NOTE: In some banks, e.g., SBI, you will be able to find Transfer to VAN / Add Virtual Account Beneficiary on the Net-banking website only. Click here for more details.

Transfer INR using NEFT/RTGS/IMPS. (Deposits made via UPI will fail and be refunded in 5-7 banking days).
INR will get credited to your WazirX account in 30 minutes to 3 hours.

NOTE:

Crypto withdrawals and P2P will be disabled after the first successful deposit through this payment method. This is because of compliance constraints and aligns with industry practices. We’re working diligently to enable this soon.
Only use your linked/whitelisted bank account to transfer via NEFT/RTGS/IMPS in Instant Bank Transfer mode.

Points to remember

There can be cases when your INR deposits take a little longer than usual to reflect in your WazirX account. Please be assured that you will not lose these funds. We have a track record: In 100% of the reported cases, the users have received their money back (either to their WazirX wallet or bank account).
In case you have long pending issues unresolved (pending for more than 7 working days), you can directly reach out to our dedicated support team here.

You can watch the following video for a better understanding:

Frequently Asked Questions

Why can’t I deposit funds into my WazirX wallet?

There could be multiple reasons for this. You can’t add funds probably because:

You are not using your verified bank account to make the deposit.
Your bank account may not support NEFT/RTGS.
The bank server is down.
You are depositing funds other than IMPS, NEFT, and RTGS mode.

Can the payment details (bank account) belong to someone else?

No, the bank account must be in your name.

Is there a deposit fee?

Yes! To facilitate instant deposits, we use payment processors so that the amounts are credited almost instantly. The deposit fee is different for different payment modes and is shown on the INR deposit page. The deposit fee is inclusive of all taxes.

Currently, for both the deposit modes – Instant bank transfer and Standard deposit, the fee is 0.

Is there a minimum/maximum INR deposit limit?

Yes! The limit depends on the type of transfer (NEFT/RTGS/IMPS). For detailed information on INR deposit limits, log in to your WazirX account and click here.