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Posted By admin On 23/07/22KYC & Withdrawals FAQs
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No. You can join Tournaments even without verifying your account. When you win cash tournaments, your winnings will be deposited in your MPL winnings balance. Verification becomes mandatory for making withdrawals from your MPL account to your bank/wallet account.
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Your total winnings i.e all winnings combined should exceed 20 Rs. Once it crosses the limit, you have to do verification
In order to do KYC, Open your MPL App >> Click on Wallet >> Click on Earn More Tokens >> Scroll down and go to Complete KYC >> Upload a clear photo of a valid Government ID(Aadhaar Card, Driving License, PAN Card, Voter Card, Driving License). Enter the details and wait for 24 hours. Our team will approve your KYC.
MPL is an esports platform where you can win real cash legally. Your withdrawals on MPL involve the transfer of money from your MPL account to your bank/wallet account, and hence KYC becomes a mandatory requirement as proof of identity.
Where do I check the status of my KYC verification?
Some of the major reasons why your verification request may have failed are:- The government ID card number on the card does not match with the Government ID card number entered during verification request. Double-check the ID card number that you have entered to avoid errors
- Date of Birth on the ID shows that you are below 18.Please ensure that you are above 18, then only initiate the KYC verification process.
- Name on the Government ID card does not match with the Name entered during verification request. Please ensure that you enter the exact Name on the verification request, as it appears on the Government ID.
- The documents uploaded by you are not clear/visible/Valid. Our experts are humans after all! Please help them by uploading clear documents so that they can verify your details quickly. Please make sure that you are uploading a valid Government ID card.
In the rare case that your verification request gets rejected, the reason for rejection will be sent to you via SMS/notification and you can re-upload the documents.
You can withdraw money only from the winnings account in your account once your account is KYC verified. This verification is a one-time process which doesn’t need to be repeated unless you wish to make changes to your account. Once your account is verified, you can withdraw money from your MPL account.
You can check the status of each withdrawal in the View Transaction History Option in Wallet Page.
The minimum and maximum amount for a single withdrawal request depends upon your Minimum and Maximum withdrawal Limit. You can see your withdrawal limit at the bottom of the screen after clicking on Withdraw option.
This might happen because of the following reasons- You do not have a Paytm account against your mobile number used in MPL. Please create a paytm account.
- You might not have done min KYC in Paytm. In this case, you will also recieve an SMS from paytm telling you the same when MPL will try to transfer cash into your paytm wallet
- Your limit in Paytm might have overflown. Paytm allows monthly 10,000 INR for min KYC customers and then you need to do full KYC. Even for full KYC customers, maximum limit is 1,00,000 Rs.
- Please make sure you are entering correct details in case of UPI and Bank account as we cannot cross verify the details here and money will be transferred to bank account entered if its a correct record as per bank.
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You can also see the status of the transaction in your withdrawal history page. In case, of any discrepancies, we will refund money back into your MPL account within 7 working days.
Please contact our support in case of any issues and we would be able to help you with the exact issue.
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We deduct TDS (tax deducted at source) for any winnings above 10,000 Rs in a tournament as per the govt regulation.
All prizes shall be subject to deduction of tax ('TDS') as per the Income Tax Act 1961. Winners will be provided TDS certificates in respect of such tax deductions. The Winners shall be responsible for payment of any other applicable tax, including but not limited to, income tax, gift tax, etc. in respect of the prize money.
As per current regulations, Tax will be calculated as follows i.e 30% tax + 4% cess which equals down to 31.2% on the won amount for any amount above 10,000 Rs won in a tournament
All prizes shall be subject to deduction of tax ('TDS') as per the Income Tax Act 1961. Winners will be provided TDS certificates in respect of such tax deductions. The Winners shall be responsible for payment of any other applicable tax, including but not limited to, income tax, gift tax, etc. in respect of the prize money.
As per current regulations, Tax will be calculated as follows i.e 30% tax + 4% cess which equals down to 31.2% on the won amount for any amount above 10,000 Rs won in a tournament