Cheq Wallet is a payments application that allows customers to make payments seamlessly in India through UPI. It provides a digital wallet to store money that can be used to make payments to merchants.
The process for onboarding to Cheq Wallet involves downloading the app, completing the signup process, scheduling a physical KYC verification appointment, completing the physical KYC verification process, and waiting for application approval.
Cheq has 3 types of wallet:
i. Indian Wallet- This is for Indians who want to open a digital wallet and pay seamlessly to all the merchants through UPI. There’s a joining fee of Rs 800 for opening an Indian wallet on Cheq.
ii. NRI Wallet- This is for NRIs and OCIs who want to unlock UPI payments in India through a digital wallet. NRIs have to pay a joining fee of Rs 800 for opening a wallet on Cheq.
iii. Tourist Wallet- This is for foreign nationals who want to open a digital wallet in order to pay seamlessly to all the merchants in India via UPI. Foreigners have to pay a joining fee of Rs 800 for opening Cheq UPI wallet.
The comprehensive list of the blocked countries is as follows –
United Arab Emirates
Afghanistan
Albania
Barbados
Burkina Faso
Democratic Republic of the Congo
Gibraltar
Haiti
Iran
Jamaica
Jordan
Cambodia
North Korea
Cayman Islands
Morocco
Mali
Myanmar (Burma)
Malta
Mozambique
Nigeria
Nicaragua
Nepal
Panama
Philippines
Pakistan
Senegal
South Sudan
Syria
Turkey
Tanzania
Uganda
Vietnam
Yemen
South Africa
During signup, customers are required to provide personal information such as their name, email address, phone number, and a selfie
Indians can get onboarded through video KYC flow using their PAN and Aadhaar card.
The video KYC (Know Your Customer) process involves a video call where you verify your identity by showing your Aadhaar and PAN card to a Cheq’s agent.
Yes, there is a joining fee of Rs 400 for Indians to open a Cheq UPI wallet.
Indians can add money to Cheq wallet through their Indian bank account / cards or other UPI app as well.
No, there’s no fee involved in adding money through the Indian bank account to Cheq wallet.
During signup, customers are required to provide personal information such as their name, email address, phone number, and a selfie.
There are 2 ways NRIs/OCIs can get onboarded to Cheq.
i.Through Passport – In this case, customer can complete their physical verification of his/her passport and open a wallet with Cheq. In this case, customer can add money to their account only through international credit or debit card. Loading through Indian currency will not work. As a part of an ongoing campaign, we are giving zero forex fee on adding money to your Cheq wallet. Once the campaign ends, there will be a forex fee of upto 3.3%+18% Goods and Services tax on adding money upto Rs 20,000. Adding money above Rs 20,000 will still be free.
ii.Through Aadhaar and PAN- In this case, customer can complete their digital verification through video KYC and open a cheq wallet. In this case, customer can add money through their Indian account only. No fee will be charged by the customer while adding money to wallet.
Yes, NRIs/OCIs have to pay a joining fee of Rs 800 to open a Cheq UPI wallet.
Customers can call the Cheq support team at 040-45209754 to schedule a physical KYC verification appointment. Alternatively, the support team will proactively reach out to the customer to schedule an appointment.
Physical KYC is physical verification of the identity of the customer by RBI authorized bank agents. In Cheq’s case, the authorized agents of Transcorp can do the physical verification. For issuing this product, RBI has mandated this step, hence cheq wallet cannot be issued to foreign nationals and NRIs without completing the physical verification.
There’s no separate fee for physical verification, it’s included in the joining fee.
If the customer is an NRI, they will need to present their passport, visa, and immigration stamp to the agent. If the customer is an Overseas Citizen of India (OCI), they will need to show their passport, immigration stamp, and OCI card during the physical verification process.
During signup, customers are required to provide personal information such as their name, email address, phone number, and a selfie.
Foreigners can get onboarded only through a physical verification process. In this case, Cheq’s authorized agent needs to physically verify your passport, Visa and latest arrival stamp.
Customers have two options for completing physical KYC verification. They can either visit one of the Transcorp branches to complete the verification process or an agent can come to the customer’s doorstep to conduct the verification process.
No, there’s no fee for this. This is included in the joining fee that customers pays to Cheq.
Yes, foreigners have to pay a joining fee of Rs 800 (10 USD) to open a Cheq UPI wallet.
Customers can call the Cheq support team at 040-45209754 to schedule a physical KYC verification appointment. Alternatively, the support team will proactively reach out to the customer to schedule an appointment.
There’s no separate fee for physical verification, it’s included in the joining fee
Customers need to show their passport, latest immigration stamp, and Visa during the physical verification process.
No, currently loading the Cheq wallet with INR is not allowed.
After completing the physical KYC verification, the application is sent to auditors for approval. The auditor will approve the application within a maximum of six hours.
The auditor will approve the application within a maximum of six hours.
Once the application is approved, customers can view their activated Cheq wallet. They can add money to their wallet online and start spending their money on any merchant in India through UPI.
You can add money to your Cheq wallet either online through the app or by visiting the physical branch.
As a part of an ongoing campaign, we are giving zero forex fee on adding money to your Cheq wallet. Once the campaign ends, there will be a forex fee of upto 3.3%+18% Goods and Services tax on adding money upto Rs 20,000. Adding money above Rs 20,000 will still be free.
Yes, there is a currency conversion rate of 6.2% charged in the branch for adding money.
As of now, customers can load money through international credit or debit card or cash (foreign currency). Loading the wallet through INR is not allowed as of now.
No, there are no documents required from the customer for adding money.
The customer can add money up to 2 lakhs in his wallet at any point of time in a month and spend a total of 3 lakhs in a month.
Scan QR Codes Cheq wallet can make UPI payments by scanning the QR codes at 50 million plus merchants in India.
There are 2 types of payments
No, P2P is not supported as RBI hasn’t allowed P2P on this product. Hence,customers can’t send and receive money from their friends or any individual. Please note if a merchant carries a personal QR code, Cheq payment will not work there.
No, as of now, they can only make payments to merchants using their cheq wallet.
Customers can spend a maximum of 3 lakhs in a month as per RBI guidelines.
In case the transactions fail at a QR code, we suggest you retry, or retry on a different QR code. If the issue persists, please reach out to cheq support on 040-45209754.
Yes, cheq foreign accounts can only be issued for customers above 18 years of age.
Yes, if you want your kids to have a cheq wallet, you can sign up using your number and KYC details and load the wallet for the kids to spend.
Following Nationalities are not supported in Cheq-
Albania, Barbados, Burkina Faso, Cambodia, Cayman Islands, Haiti, Jamaica, Jordan, Mali, Malta, Morocco, Myanmar, Nicaragua, Pakistan, Panama, Philippines, Senegal, South Sudan, Syria, Turkey, Uganda and Yemen
For Indian users, there’s no expiry for the full KYC cheq wallet. But for NRIs and Foreigners, Cheq wallet expires once their passport expires.
Cheq UPI is a digital wallet designed specifically for foreign nationals and NRIs/OCIs traveling or residing in India, enabling secure transactions at over 55 million registered merchants across the country.
Both foreign nationals and NRIs/OCIs can use Cheq UPI. Note that NRIs with a foreign passport are categorized as foreign nationals, while those with an Indian passport have access to a different wallet type.
Foreign nationals from these countries are not allowed: Albania, Barbados, Burkina Faso, Cambodia, Cayman Islands, Haiti, Jamaica, Jordan, Mali, Malta, Morocco, Myanmar, Nicaragua, Pakistan, Panama, Philippines, Senegal, South Sudan, Syria, Turkey, Uganda and Yemen
Yes, there is a one-time joining fee of INR 800, payable after downloading the app. This fee facilitates the provision of a secure and efficient digital wallet service.
The app is available for both Android and iOS devices. Visit your respective app store, search for “Cheq UPI,” and proceed to install/download the app.
While the app itself is free to download, a one-time joining fee of INR 800 is required after installation.
Start by downloading the app, verifying your SIM, filling in your passport details, and completing the physical verification process. Your account will be active post-verification.
Provide your passport details, including name, date of birth, and a selfie. Ensure all information is accurate and clear.
The process is generally quick, but the duration can vary based on the accuracy of provided information and the time taken for physical verification.
Input your mobile number in the app to receive an OTP via SMS, WhatsApp, or email. Enter this OTP in the app to complete verification.
Preferably, yes, especially at the time of account creation. Ensuring your international SIM is active during this period is crucial for a smooth verification process.
Yes, Cheq UPI works with both. Ensure the SIM you registered with (be it international or Indian) is active during the SIM verification process. Post-verification, it does not matter much which SIM is active.
Physical verification can be completed in select cities across India, either by visiting a branch or booking an agent through the app. Present your original documents during verification.
Foreign Wallet: Original Passport, Valid eVisa, Immigration stamp on the passport with the date of entry into India.
NRI Wallet (Indian Passport Holders): Original Passport, Foreign country’s driving license or any other document, and any Indian Identity Card like Aadhar or PAN.
Wallet Activation & Usage
After account verification, add money using international bank-issued credit/debit cards or net banking. Cash deposits are accepted at branches.
Make payments at registered merchants using scan & pay on QR codes or by sending money to the merchant’s UPI ID. No additional transaction fee is charged.
We offer a no-questions-asked refund policy. Email us at contactus@terrafin.tech with your refund request and reason, and the amount will be credited back to your source account within 10-12 days.
Send an email to contactus@terrafin.tech with your old and new numbers and the reason for the change. Your request will be processed within 7 days.
Our customer support team is available at +919845563750 via call or WhatsApp, or at contactus@terrafin.tech via email, from 9 AM to 9 PM IST Mon-Fri, and 10 AM to 7 PM Sat-Sun. Currently, support is provided in English.
Customer support is available from 9 AM to 9 PM IST Monday to Friday, and from 10 AM to 7 PM IST on Saturdays and Sundays.
Cheq UPI employs state-of-the-art security measures to ensure your personal and financial information is kept secure at all times.
Your privacy is paramount. Your personal information is encrypted, securely stored, and not shared with third parties without your explicit consent.
Terrafin Solutions Private Limited
#231, Eden Au Lac, Indiranagar – 560038
© Copyright 2022. All rights reserved.