FAQs on Nominee Feature for Pi42
General FAQs
What is a nomination and who is a nominee?
Nomination is the process of selecting someone to receive your digital assets or funds in your pi42 wallet if something happens to you. A nominee is the person you choose to inherit your Pi42 account balance.
What details are needed for nomination?
To add a nominee, you need to provide the complete name, date of birth, and your relationship with the nominee. Please ensure that the details match the information on the nominee’s PAN card exactly
How is nomination helpful?
Choosing a nominee ensures smooth transitions within the family in case the account holder passes away. It simplifies the process of transferring your crypto assets during difficult times, preventing potential conflicts among family members.
Is nomination mandatory for a Pi42 account?
While it's not compulsory, nominating someone can be a valuable step in managing your virtual digital assets in case of unforeseen circumstances.
What happens if the nominee dies after the account holder but before the funds are transferred by Pi42?
If the nominee passes away after the account holder but before the funds are transferred, the money will be paid to the heirs or legal representatives of the nominee after furnishing the required documents as per Pi42’s internal nominee policy.
How can a nominee raise a claim?
If you're a nominee and need to make a claim, contact our support team through support@pi42.com. Request the transfer of funds, and we'll assist you.
Can I change or remove a nomination?
Yes, you can modify or update your nominee details as many times as needed. You can also cancel or delete the current nominee and add a new one whenever you wish.
What should be the relationship between me and the nominee?
You can choose someone close to you, such as your parents, siblings, spouse, children, or legal guardian.
Who can nominate?
Only the account holder can make nominations.
Step-by-Step Process
Adding a 1st Nominee
Log in to your Pi42 account.
Go to the 'Nominees' section under 'Account Settings.'
Click on 'Add Nominee.'
Enter the nominee's name, date of birth, and relationship with you.
Verify the addition through an OTP verification
The share allocation will default to 100%.
Click 'Save' to add the nominee.
Adding a 2nd Nominee
Log in to your Pi42 account.
Go to the 'Nominees' section under 'Account Settings.'
Click on 'Add Nominee.'
Enter the nominee's name, date of birth, and relationship with you.
Verify the addition through an OTP verification
The share allocation will default to 50% for each nominee.
Click 'Save' to add the second nominee.
Removing a Nominee
Log in to your Pi42 account.
Go to the 'Nominees' section under 'Account Settings.'
Find the nominee you wish to remove.
Click on the 'Remove' button next to the nominee's details.
Verify the removal through an OTP verification
Confirm the removal in the prompt that appears.
Updating Nominee Details
Log in to your Pi42 account.
Go to the 'Nominees' section under 'Account Settings.'
Find the nominee whose details you wish to update.
Click on the 'Edit' button next to the nominee's details.
Update the necessary information (name, relationship, date of birth).
Verify the updation through an OTP verification
Click 'Save' to save the changes.
Updating the Share Allocation
Log in to your Pi42 account.
Go to the 'Nominees' section under 'Account Settings.'
Click on 'Update Share Allocation.'
Adjust the share percentage for each nominee. The total must always be 100%.
As you adjust one nominee's share, the other nominee's share will automatically adjust to ensure the total remains 100%.
Verify the updation through an OTP verification
Click 'Save' to confirm the new share allocations.
General FAQs
What is a nomination and who is a nominee?
Nomination is the process of selecting someone to receive your digital assets or funds in your pi42 wallet if something happens to you. A nominee is the person you choose to inherit your Pi42 account balance.
What details are needed for nomination?
To add a nominee, you need to provide the complete name, date of birth, and your relationship with the nominee. Please ensure that the details match any National Informatics Centre (NIC) document such as Aadhaar card, PAN card, Driving License, Voter ID card, or Passport.
How is nomination helpful?
Choosing a nominee ensures smooth transitions within the family in case the account holder passes away. It simplifies the process of transferring your crypto assets during difficult times, preventing potential conflicts among family members.
Is nomination mandatory for a Pi42 account?
While it's not compulsory, nominating someone can be a valuable step in managing your virtual digital assets in case of unforeseen circumstances.
What happens if the nominee dies after the account holder but before the funds are transferred by Pi42?
If the nominee passes away after the account holder but before the funds are transferred, the money will be paid to the heirs or legal representatives of the nominee.
How can a nominee raise a claim?
If you're a nominee and need to make a claim, contact our support team through support@pi42.com. Request the transfer of funds, and we'll assist you.
Can I change or remove a nomination?
Yes, you can modify or update your nominee details as many times as needed. You can also cancel or delete the current nominee and add a new one whenever you wish.
What should be the relationship between me and the nominee?
You can choose someone close to you, such as your parents, siblings, spouse, children, or legal guardian.
Who can nominate?
Only the account holder can make nominations.
Step-by-Step Process
Adding a 1st Nominee
Log in to your Pi42 account.
Go to the 'Nominees' section under 'Account Settings.'
Click on 'Add Nominee.'
Enter the nominee's name, date of birth, and relationship with you.
The share allocation will default to 100%.
Click 'Save' to add the nominee.
Adding a 2nd Nominee
Log in to your Pi42 account.
Go to the 'Nominees' section under 'Account Settings.'
Click on 'Add Nominee.'
Enter the nominee's name, date of birth, and relationship with you.
The share allocation will default to 50% for each nominee.
Click 'Save' to add the second nominee.
Removing a Nominee
Log in to your Pi42 account.
Go to the 'Nominees' section under 'Account Settings.'
Find the nominee you wish to remove.
Click on the 'Remove' button next to the nominee's details.
Confirm the removal in the prompt that appears.
Updating Nominee Details
Log in to your Pi42 account.
Go to the 'Nominees' section under 'Account Settings.'
Find the nominee whose details you wish to update.
Click on the 'Edit' button next to the nominee's details.
Update the necessary information (name, relationship, date of birth).
Click 'Save' to save the changes.
Updating the Share Allocation
Log in to your Pi42 account.
Go to the 'Nominees' section under 'Account Settings.'
Click on 'Update Share Allocation.'
Adjust the share percentage for each nominee. The total must always be 100%.
As you adjust one nominee's share, the other nominee's share will automatically adjust to ensure the total remains 100%.
Click 'Save' to confirm the new share allocations.
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