How to Deposit money in WazirX from a Bank account in INR?

Sarvin Batra
6 Min Read

Depositing funds into your WazirX app has always been a challenge, especially for those who prefer to use Indian currency. However, Other than having g P2P to transfer and convert currencies to trade, they recently launched a new feature that allows users to deposit money directly in Indian rupees, making it easier and more convenient to trade cryptocurrencies.

In this article, we will provide a step-by-step guide on how to deposit money in WazirX from your bank account in INR.

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Easy Steps to Deposit INR from Your Bank Account to WazirX Wallet

Deposit money in WazirX from a Bank account in INR?

Here is the process that you have to follow to transfer the amount in Indian Rupees from your bank account to the WazirX app –

  1. First Open the “WazirX” app on your mobile phone.
  2. On the bottom right corner your will option “Funds”. Tap on funds.
  3. Just below the section “Convert INR to USDT” you will notice the option for deposit “INR”.
  4. Tap on the “+DEPOSIT” option right next to that. On the new screen again tap on the “Deposit” button.
  5. Choose Standard deposit and then the “I acknowledge this” button.
  6. Choose any payment method in-between IMPS, NEFT, or RTGS (Remember you have to choose the same mode of Payment on your Bank account as well while you initiate the transfer).
  7. Hit “Show Bank Detailes”. Note down all of the bank account information shown there, this is the account where you have to make a deposit.
  8. Now head over to your bank’s official net banking mobile app or Website and initiate online fund transfer.’
  9. Come again on the same page on the WazirX app and hit the “Add Bank details” button.
  10. Enter the amount that you have deposited, your transaction id, and transaction date in the appropriate fields and tick the checkmark.
  11. Hit the submit button.

Once you hit the submit button and followed the all steps correctly funds will be transferred to your WazirX wallet.

Please note, unlike any other payment method, this fund transfer method might take a little bit more time.

In any case, if the fund transfer is failed, the amount would be returned to your bank account after 15 days.

Terms of Using INR deposits on WazirX

However, there are few things which you should remember using this new deposit method –

  • Money transfers should be done only from your bank account. Make sure that name on your bank account is the same as the name in your WazirX account.
  • Do not use UPI as a payment transfer method to deposit money. If you do this payment via UPI, your payment will be canceled and the amount will be returned to you.
  • Once you use this payment method, your crypto withdrawals and P2P will be disabled once the deposit is done.
  • The minimum amount that you can deposit is 1000 INR while the maximum deposit amount should not cross 10 lac per transaction.
  • Make sure that you initiate a fund transfer on a working day to avoid any delay. On any given working day it will take up to 6 hours for your payment to reflect in the app. It will be much longer if you transfer INR funds on any bank holiday.

If you acknowledge all these terms and agree to it you can proceed to deposit money in your WazirX account.

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Further FAQs

How to Deposit Money in WazirX from bank Account?

Head over to the funds section in the app or WazirX website. There choose an INR deposit. It will guide you about how can you deposit money from the bank account.

Can I deposit money in WazirX via UPI?

While you can transfer funds using UPI if you select WazirX P2P, you can not use UPI in case you are transferring funds using “INR Deposit”.

Why is my INR deposit temporarily delayed?

You might have seen this issue where you will see a message that your INR deposit is temporarily delayed. Usually, this happens when it takes longer to identify a transfer with the bank.

What will be charged if I transfer money from my bank account in INR?

WazirX does not charge any amount for deposit if you choose any of the net banking money transfer methods to deposit money. However, your bank does charge some fees on each Internet banking transaction. You can see this transaction charge on your bank account.

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Sarvin Batra is the Main Author, Editor at CnbDaily. He is an Expert in Tech especially Related to mobile phones, Android applications and Their uses. You can Connect with him on His Twitter Profile @SarvinBatra
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