Sharkpocket

Withdrawal Policy

KYC Verification

KYC Process

  • It is Mandatory that before raising Withdrawal Request, User must need to complete KYC Process by submitting Permanent Account Number (PAN) and Bank Account Number.
  • There are two ways to verify your PAN and Bank Account.
    A. Online Verification (Quick Process via Cashfree Service Provider).
    B. Offline Verification.
  • Via Online Verification, you just need to share your PAN Number and Bank Account Number along with IFSC Code.
  • For Offline Verification, Users must upload PAN and bank account details.
  • The documents must be valid, clear, and in jpg, jpeg, or pdf format.
  • Password-protected documents will not be accepted.
  • Offline KYC verification may take up to 2 working days.
  • Only Indian citizens are permitted to participate. International documents will not be accepted.

KYC verification Criteria

  • Name on PAN must match with your Name on Aadhaar Card
    (Aadhaar Verification is Mandatory while adding cash in your Deposit Wallet before participate in any Paid Game Campaign).
  • Name on Bank Account must match with your name on PAN and Aadhaar.
  • In case of mis-match of Name over PAN/Aadhaar/Bank Account, kindly share the supporting document (e.g. Marriage Certificate / Gazette Certificate) for Verification.
  • Verification may take up to 2 working days.

Withdrawals Processing

  • Withdrawal request can be Processed only after completion of Mandatory KYC Process as mentioned above.
  • The name on the identification document must match the registered account name.
  • Withdrawal requests will be processed after Bank Account verification ONLY.
  • Withdrawal is Instant, However it may take up to 48 hours, subject to bank and third-party processing times.
  • Withdrawal request once requested and confirmed by User, it cannot be cancelled.
  • Only 3 Withdrawal requests are permitted for a Day (Within 24 Hours).
  • Minimum Withdrawal Request Amount is Rs.100. Any Withdrawal Request Amount less than Rs.100 will be declined.

Withdrawals Policy for Unutilized Funds

  • There is no Refunds for unutilized funds in “Deposit Wallet” and can be used to participate in Paid Game Campaigns only.
  • Unutilized Funds in “Withdrawal Wallet” for respective Financial Year will be refunded to Registered Bank Account during End of Each Financial Year i.e. in the month of March and it may take 24 to 48 Hours for Funds to be Credited in bank Account.
  • Applicable taxes may be deducted as part of TDS from winnings in compliance with legal and regulatory requirements.

Discount Offers

  • Discounts provided for promotional purposes can only be used to join paid public contests.
  • Discounts cannot be transferred or withdrawn.

Disqualification Criteria

  • Submission of incorrect, incomplete, or misleading documents.
  • Creation of multiple accounts or teams on behalf of other users.
  • Participation from prohibited states or false state declarations.

Violations

  • The Company reserves the right to withhold payouts if discrepancies or violations are identified.
  • Any suspicion activity or request will be considered as a Violation of our Withdrawal Policy and Respective Withdrawal Request and/or User Account may be suspended with consideration of Violation of Policy.
    A. As determined by the Company at its sole discretion.
    B. As required under applicable laws.

TDS

  • TDS (Tax Deducted at Source) of 30% is Applicable on Each Withdrawal Request to obligate the compliance under the Income Tax Act.

Why Need KYC

  • Aadhaar Number – To verify user’s age (above 18 years) and validate non-residency from restricted states (Assam, Sikkim, Nagaland, Odisha, Telangana, Meghalaya and Andhra Pradesh) in compliance with state-level gaming laws.
  • Permanent Account Number (PAN) – To verify tax identity of the user prior to disbursement of winnings; to enable compliance with TDS (Tax Deducted at Source) obligations on prize money under the Income Tax Act.
  • Bank Account Details – To facilitate withdrawal of winnings by the user directly to their verified bank account; to ensure secure and lawful fund transfer.

Say Goodbye to Your Account

Want to close your account? Please write to us, with your request.

Our technical team will catch up with you shortly to process your request securely.
Our team is here to support you whether it’s account deletion, concerns, or related issues.

Email

support@sharkpocket.in

Delete Account