Thank you. I just funded so she can use digital payments. It's zero balance. Since it's the first funding, it is considered initial I think.I am not an expert here but I don't think it should be an issue. As long as the account is funded with legitimate funds, it works for them. Since you funded her account, it's not taxable either.
They require IP for their 0 balance account?
Au too worst.Hi,
I opened au digital account zero balance for my mother who doesn't have any other online banking. They mentioned that initial bank account funding should come from same person per RBI guidelines.
I did funding from my account. Will this be a problem?
Please advice.
The KYC agent also asked me to deposit ₹ 2000 as initial funding. He told me it's mandatory but I can withdraw it anytime.I am not an expert here but I don't think it should be an issue. As long as the account is funded with legitimate funds, it works for them. Since you funded her account, it's not taxable either.
They require IP for their 0 balance account?