How to Exchange Rs. 2,000 Currency Notes Using the Amazon Pay Wallet in India

The Reserve Bank of India on May 19 decided to withdraw all the Rs. 2,000 currency notes from circulation under its Clean Note Policy.

Written by Richa Sharma | Updated: 25 June 2023 17:30 IST

How to Exchange Rs. 2,000 Currency Notes Using the Amazon Pay Wallet in India

Photo Credit: Amazon

The amount on the Amazon Pay wallet can be used for online shopping, recharges, or digital payments

Highlights

Amazon customers can deposit a maximum amount of Rs. 50,000 per month
The facility to exchange Rs. 2,000 note is available for KYCed customers
Customers need to complete video KYC on the Amazon app

Amazon, earlier this week, made an announcement to allow customers to exchange their Rs. 2,000 notes. The statement came after the Reserve Bank of India on May 19 decided to withdraw all the Rs. 2,000 currency notes from circulation under its Clean Note Policy. The central bank of India has announced that the existing notes circulation can be deposited in bank accounts or can be exchanged by September 30.

As many people struggle to get their notes exchanged or deposited in the bank, Amazon has rolled out an initiative to exchange the notes for their customers. According to the official statement by Amazon, the company will let customers top up their Amazon Pay balances using Rs. 2,000 notes during cash-on-delivery orders. The leftover change can be loaded to the Amazon Pay wallet.

The e-commerce giant has specified that customers can deposit a maximum amount of Rs. 50,000 per month, including notes of Rs. 2,000 denomination.

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How to exchange Rs. 2,000 note in India using the Amazon Pay wallet:

Step 1: To begin with, customers need to complete video KYC on the Amazon app
Step 2: Once the KYC process is done, customers can place a cash on delivery order
Step 3: Next, customers can hand over the cash to delivery agent on their order
Step 4: The delivery agent will update the remaining balance on the customer's Amazon Pay balance instantly

The amount updated on the Amazon Pay wallet can be used for online shopping, or paying using QRs, doing recharges, sending money to friends and family or digital payments on apps like Swiggy and Zomato.

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The facility to exchange or update Amazon Pay balance with Rs. 2,000 note is only available for KYCed customers. Hence, it is important for the customers to get the KYC process done before initiating the exchange.

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