Bank Account Verification and Penny Drop Explained

Note: Please ensure your KYC is completed before proceeding with bank verification.

Step 1 – After completing KYC on Niyam Exchange, you can proceed to verify your bank details.

Step 2 – Click on Add Bank.

Step 3 – Enter your details, including your name, bank account number, and IFSC code.

Step 4 – Complete the verification via the penny drop process. A small amount (₹1) will be credited to your bank account to verify the details.

Step 5 – Your bank account will be successfully verified once the penny drop is completed.