How can players withdraw from host wallet? – RummyCircle

Players can withdraw the money in the host wallet by clicking on the ‘withdraw’ button present on the a) private contest creation & join page b)private contest transaction page.
To withdraw the money, the user need to provide PAN details and must be KYC verified.
If these details are already provided by the user beforehand (for RC or MEC) then they may not provide it again.
The money can be withdrawn in the user’s bank account.
The minimum amount needed for withdrawal is Rs.100.
Users will not be able to choose the amount they can withdraw and the entire amount in their wallet will be withdrawn at that point of time.
The withdraw will go through the JBPM rules before getting processed.

Apart from all the regular checks, an additional check is added where if the money withdrawn at any point is greater than Rs.12,500 it will go through our risk team.

This transfer will happen manually through ENET and may take 3-5 days (same as that for the existing manual process).
TDS will be deducted based on the % defined by the Indian government from the withdrawn money itself

Once the transaction is processed, the user will receive an email on their registered email ID with a copy of invoice generated by MEC from the user’s end charging MEC for the commission
In case the user has provided the GST details, it will also be added in the invoice
The email with invoice copy will also ask users to provide their GST details (if they want) to the support team of MEC to be updated in the system
The subsequent invoices will have the GST details updated
In case the processing of the payment fails, the money will be returned to the user’s wallet and a credit note will also be mailed to the user’s registered email
There is no limit on the number of withdrawals that a user can make per month
There is no charge on the withdraw made for host wallet
The withdraws for host wallet will not be considered for the count of free withdrawals available for regular wallet.