Adding a bank account and depositing Indian Rupees (INR) on WazirX is a straightforward process designed to help users seamlessly begin their cryptocurrency investment journey. This guide walks you through each step with clarity, ensuring you can fund your WazirX wallet quickly and securely. Whether you're using the mobile app or web platform, we’ve got you covered.
Why Linking Your Bank Account Is Essential
Before buying or trading crypto on WazirX, you must deposit INR into your wallet. To do so, you first need to link a verified bank account. This allows you to make NEFT, RTGS, or IMPS transfers directly from your bank to your WazirX account. The verification ensures compliance and prevents transaction failures.
You can add multiple bank accounts and set one as your default for convenience. However, remember that only verified accounts in your name can be used for deposits.
👉 Discover how to securely fund your crypto wallet in minutes.
How to Add a Bank Account on WazirX
Follow these simple steps to link your bank account on WazirX via mobile or web.
Step 1: Access Banking Settings
On Mobile:
Open the WazirX app, tap the Settings icon in the top-left corner, then select Banking & Payment.
On Web:
Click the profile icon at the top right, go to Account Settings, then choose Payment Options.
Step 2: Add a New Payment Method
Under the Bank Account section, click Add a New Payment Option.
Step 3: Enter Your Bank Details
Fill in the required information, including:
- Full name as per bank records
- Bank name
- Account number
- IFSC code
Ensure all details match your official bank documents exactly—any discrepancy may delay verification.
Note: Your KYC must be completed and verified before your bank account can be approved. Without KYC, the system will not accept your banking details.
Once submitted, WazirX will verify your information. This usually takes a few hours to one business day. During this time, avoid making deposit attempts.
You can update or remove bank details up to five times within a 30-day window. Each new addition triggers a fresh verification cycle.
How to Deposit INR into Your WazirX Wallet
After your bank account is verified, you're ready to deposit funds.
Step 1: Navigate to Funds Section
Mobile App: Tap Funds at the bottom right of the screen.
Web Platform: Click Funds in the main navigation bar.
Step 2: Select INR
Choose INR from the available currency options.
Step 3: Initiate Deposit
Click on Deposit, then select your preferred method:
- Instant Bank Transfer (IMPS/NEFT/RTGS)
- Standard Deposits
👉 Learn how to make fast and secure INR deposits today.
Step 4: Choose Instant Bank Transfer
For faster processing, opt for Instant Bank Transfer. Then:
- Click Show Bank Details.
- Use these details to add a new beneficiary in your net banking portal or mobile banking app.
Some banks, like SBI, require you to use a "Virtual Account Number" (VAN) feature. Look for “Transfer to VAN” or “Add Virtual Account Beneficiary” in your online banking dashboard.
Step 5: Complete the Transfer
Initiate an NEFT, RTGS, or IMPS transfer from your bank using the provided beneficiary details. Do not use UPI—deposits via UPI will fail and be refunded within 5–7 working days.
- Processing Time: INR deposits typically reflect in your WazirX wallet within 30 minutes to 3 hours.
- Fees: Currently, both Instant and Standard deposit methods have zero fees, inclusive of taxes.
Important: Only transfer from your linked, verified bank account. Third-party transfers are not accepted and will be reversed.
Key Points to Remember
- Deposits may occasionally take longer due to banking delays. Rest assured, funds are never lost—WazirX has a 100% recovery record for delayed transactions.
- After your first successful INR deposit via Instant Bank Transfer, P2P trading and crypto withdrawals may be temporarily disabled due to regulatory compliance. The team is actively working to restore full functionality.
- You can manage multiple bank accounts but must always use the correct verified one when depositing.
Frequently Asked Questions
Why can’t I deposit funds into my WazirX wallet?
Common reasons include using an unverified bank account, unsupported transfer methods (like UPI), server downtime, or incorrect beneficiary details. Ensure your account is verified and you're using IMPS, NEFT, or RTGS.
Can I use someone else’s bank account for deposits?
No. The bank account must be registered in your name and match your KYC details. Third-party deposits are strictly prohibited.
Is there a deposit fee on WazirX?
Currently, there are no fees for either Instant Bank Transfer or Standard Deposit methods. Any future changes will be clearly communicated on the deposit page.
What are the minimum and maximum INR deposit limits?
Limits vary based on transfer type (IMPS/NEFT/RTGS) and your verification level. Check your personalized limits by logging into your account under the INR deposit section.
How long does it take for INR to reflect in my wallet?
Most deposits appear within 30 minutes to 3 hours. Delays beyond this should be reported if unresolved after 7 working days.
Can I change my default bank account later?
Yes. You can edit your default payment option anytime under Payment Settings.
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By following this guide, you're now equipped to securely link your bank and start investing in cryptocurrency on WazirX with confidence.