[Updated] WazirX payment through MobiKwik gateway option not working or reflecting in wallet? Here's what you need to know
New updates are being added at the bottom of this story…….
Original story (published on May 24, 2021) follows:
Cryptocurrencies have been facing scrutiny in India for a couple of months now. RBI has advised banks to part their ways from any transactions related to Crypto.
With these restrictions in place, the flow of money to the wallet becomes a task for those who want to trade.
A similar issue is now haunting WazirX, which happens to be India’s largest crypto exchange with a big number of active users.
Banks are backing out and now MobiKwik payments are also making it difficult for investors. Users are complaining about the issue on Twitter where their payments are not reflecting in the WazirX wallet.
Here are a ton of users who have been facing this issue and have expressed their frustration.
Hai,I have tried to deposit through Mobikwik wallet. Amount is debited from my account but not reflected wazirx fund
Even after a successful transaction of money UPI mobikwik still deposited amount is not reflecting in wazirx wallet!!!!! Everytime deposits have some issues and so much delay in response.
As reported, payments get deducted from the MobiKwik account but it doesn’t reflect in the WazirX wallet.
The app shows the money is being processed but it is stuck there for days now. Users are frustrated as they can no longer trade. Plus, the money is not crediting back to the MobiKwik wallet.
Responding to user complaints, WazirX support says they are aware and conveys there is a delay in payment processing.
We have received an update from our banking partner that due to banking network issues there will be delay in the INR deposits. Your funds are safe and it will get credited or reverted back within 7 banking days as per banking timelines (Source)
The transferred amount will either get credited back to the account or will get deposited into the WazirX wallet but it may take 7 days as per banking timelines.
The issue isn’t new as banking transactions have been a pain for a lot of users in recent times especially with WazirX.
The company CEO is having a hard time convincing Indian banks to partner with them to have a smooth inflow and outflow of funds from WazirX.
With growing controversies, peer-to-peer (P2P) transactions are the only way forward and are instant.
That said, we will keep tracking this issue and update as soon as we have something significant to report.
Update 1 (January 22)
04:28 pm (IST): Some WazirX users are facing now an issue (1, 2, 3, 4, 5) where the Instant Deposit method is not working or taking a long time to deposit money through MobiKwik.
Luckily, the support has acknowledged the issue and said that they are working on a fix. Moreover, the Failed deposits will be refunded to the source account within 5-7 business days.
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