User FAQ's

1 how do we copy the utr from the upi apps? some upi apps like phonepay and paytm allow you to copy utr using a copy button but many do not it is best to use the transaction confirmation sms received from the upi app and copy the utr from there you can refer to the document here 2\ is credit card payment method supported for making onramp transactions? we don’t support any type of card payments for both inr & php currencies 3\ what is the typical onchain transaction cost? onchain transaction cost varies all the time based on demand supply match of validators and also by the chain networks like polygon have very low network fees in comparison to the size of transaction while networks like ethereum have very high network fees in comparison to the size of transaction 4\ what are your kyc policies? is it mandatory to complete kyc before transacting? we need users to verify one proof of identity and one proof of address before they can transact on our platform 5\ how long does it take to complete the account verification? we do real time kyc verification of end users the whole process can be completed in less than a minute if the user has all the documents ready 6\ how much time does it take to on ramp with onmeta? our on ramp (buy) transactions typically take less than a minute to process 7\ what support options do users have if they face any issues with onmeta? the users have three options to reach out to onmeta support live chat option in the onmeta widget onmeta telegram group user can email us at support\@onmeta in 8\ what is the maximum and minimum limit for onramp transactions ? we allow our clients to set their own limits for the transaction below are our suggested minimum and maximum limits the minimum is arrived at based on a transaction size that makes the gas fee attractive for miners/validators and maximum is based on payment channel transfer limits false falseleft false unhandled content type left false unhandled content type left false unhandled content type left false unhandled content type left false unhandled content type left false unhandled content type left false unhandled content type left false unhandled content type left false unhandled content type left false unhandled content type left false unhandled content type left false unhandled content type left false unhandled content type left false unhandled content type left false unhandled content type left false unhandled content type left false unhandled content type left false unhandled content type 9\ does the transaction limit change with the payment method? yes, for upi transactions max limit per user per day is 1 lakh it also varies with limits set by the user bank account for bank transfer (imps/neft/rtgs), max limit is up to 5 lakh per transaction 10\ how much time does it take to off ramp with onmeta? we batch process our off ramp (sell) orders, it typically take 24 banking hours to process 11\ what is the maximum and minimum limit for offramp transactions ? we allow our clients to set their own limits for the transaction below are our suggested minimum and maximum limits the minimum is arrived at based on a transaction size that makes the gas fee attractive for miners/validators and maximum is based on payment channel transfer limits true 0 falseleft true unhandled content type left unhandled content type left unhandled content type left true unhandled content type left false unhandled content type left false unhandled content type left true unhandled content type left false unhandled content type left false unhandled content type left true unhandled content type left unhandled content type left unhandled content type left true unhandled content type left unhandled content type left unhandled content type left true unhandled content type left unhandled content type left unhandled content type 12\ can we offramp money to foreign bank account? we support payouts to only verified indian bank accounts 13\ what do you do to prevent money laundering? we have an aml policy and strictly adhere to it; you can find our aml policy here https //docs google com/document/d/1jjpnr ftlr51iaynmxta2xtqjj4wbescguuftzvxqea/edit?usp=sharing 14\ if onmeta is a regulated entity? there is no vasp (virtual asset service provider) license in india yet which can regulate the businesses dealing in cryptocurrency the most significant piece of legislation with respect to regulating crypto businesses in india pertains to the march 2023 amendment brought by the government of india to the prevention of money laundering act (pmla) 2002 which brings all crypto businesses under the purview of pmla as a result, it is required of all crypto businesses in india to register with the financial intelligence unit (fiu) of the ministry of finance of the government of india and proactively report any suspicious activity onmeta has registered for the same and is complying with all the requirements