How to Exchange Rs. 2,000 Currency Notes Using the Amazon Pay Wallet in India
Photo Credit: Amazon
Earlier this week, Amazon made an important announcement regarding the exchange of Rs. 2,000 notes for its customers. This decision was prompted by the Reserve Bank of India's recent implementation of the Clean Note Policy, which involves the withdrawal of all Rs. 2,000 currency notes from circulation. The central bank has provided instructions for the depositing of existing notes into bank accounts or exchange them by September 30.
Given the challenges faced by many individuals in exchanging or depositing their Rs. 2,000 notes at banks, Amazon has introduced an initiative to assist its customers in this process. According to Amazon's official statement, customers will have the option to top up their Amazon Pay balances using Rs. 2,000 notes during cash-on-delivery orders. Any remaining change can then be loaded into the customer's Amazon Pay wallet.
It is important to note that Amazon has set a monthly limit of Rs. 50,000 for deposits, which includes notes of Rs. 2,000 denomination, ensuring compliance with regulatory guidelines and promoting responsible usage of the platform.
By offering this exchange service, Amazon aims to provide a convenient and secure solution for customers who may be experiencing difficulties with traditional methods of note exchange. This initiative aligns with Amazon's commitment to enhancing the overall customer experience and addressing their evolving needs.
Step 1: To begin with, customers need to complete video KYC on the Amazon app
Step 2: Once the KYC process is done, customers can place a cash-on-delivery order
Step 3: Next, customers can hand over the cash to a delivery agent on their order
Step 4: The delivery agent will update the remaining balance on the customer's Amazon Pay balance instantly
The amount updated on the Amazon Pay wallet can be used for online shopping or paying using QRs, doing recharges, sending money to friends and family, or digital payments on apps like Swiggy and Zomato.