Here are some of the frequently asked questions regarding the Nomination option on WazirX.
- Who is a nominee?
A nominee is a person who gains custody of the assets/fiat balance standing in your account in case of your untimely death.
- Why is nomination important?
In the event of your untimely death, your nominee will be able to get custody of the virtual assets and/or Fiat balances available in your account without the necessity of producing any legal evidence of title to your estate.
- Who can be a nominee?
- Parents / GrandParents / Parents-in-law or
- Children / GrandChildren / Children-in-law or
- Spouse or
- Can a minor be appointed as a nominee?
Yes, a minor can be appointed as a nominee. However, you will have to add details of their guardian (other than you) as the nominee is a minor (age < 18). The guardian can be natural or court-appointed.
- What information and documents are needed to add someone as a nominee?
Please provide the nominee's full name, email, phone (optional), date of birth, government id proof number, and your relationship with them.
Suppose the nominee is a minor. i.e., Less than 18 years of age - guardian details are required.
Note: The age and name of the nominee must be accurately provided as they appear on any National Informatics Centre (NIC) document, like an Aadhaar card, PAN card, driving license, or passport.
- How can we add a nominee online on WazirX?
To add a nominee, please follow these steps:
- Go to Profile settings on your WazirX App
- Click on Account Management
- You will see an option to Add a Nominee/Delete a Nominee
- When can we appoint a nominee?
At the time of signup or anytime while your account is active.
- Can there be multiple nominees?
As of now, you can only add one nominee.
- Can the details of the nominee be modified?
No, it cannot be modified. Please check if all details entered are correct and valid. Nominee details cannot be changed once added. However, the nominee can be deleted, and one can re-add them.
- Is any fee payable for nomination?
No, as a user, you don’t have to pay any extra fee for nomination.
- How can the assigned nominee raise a claim?
The assigned nominee should raise a request for the transfer of virtual digital assets by sending an email to firstname.lastname@example.org
- What documents are required for processing the claim?
The below documents are necessary for the claim:
- PAN Card & Aadhar Card of Deceased.
- PAN Card & Aadhar Card of Beneficiary.
- Death Certificate of Deceased.
- Document showing/ establishing the relationship between the Deceased & beneficiary viz. Marriage Certificate or Passport;
- Probated Will; if any.
Please note that the claims team reserves the right to ask for additional documents