Citizen’s CharterEffective date: 2nd November 2018


The Citizen’s Charter of Paytm Payments bank explains our commitment towards customer satisfaction. This document details our key commitments and responsibilities and also specifies the obligations on the part of the customers for a healthy banker-customer relationship.

The charter has been prepared to promote fair banking practices and to provide information on various activities relating to customer service.

Note-: This is not a legal document and does not intend to create any new rights or obligations either on the part of the Bank or on the part of the customer, other than those that accrue as per contractual/ regulatory obligations in the normal course of business.

Copies of the Citizens Charter will be available on request to all our customers at our branches, administrative offices and on our web site.

Introduction and Objectives

This policy document provides a broad framework and information with respect to various products and services offered by the Bank. This charter not only explains our commitment and responsibilities along with redressal methods but also the obligations on part of customers for healthy practices.

Common Practices and commitments followed


  1. Display business hours
  2. Render courteous services
  3. Make the branch/ ATM locations, Phone Banking numbers and Internet Banking address of the Bank known to customers easily
  4. Attend to all customers present in the banking hall at the close of business hours
  5. Display interest rates for various deposit schemes from time to time
  6. Provide details of various deposit schemes/ services of the Bank
  7. Provide facility for logging complaint/ suggestion in the branch premises

Digital Banking

  1. Render digital banking service 24 hours a day 7 days a week using App*
  2. Provide details of various deposit schemes/ services of the Bank
  3. Respond to customer queries related to customer account(s) with us subject to verification by the customer
  4. Provide facility for logging complaint/ suggestion


  1. Render service 24 hours a day 7 days a week
  2. Provide cash withdrawal facility at all locations and other facilities at select locations
  3. Provide facility for logging complaint/ suggestion
  4. Make the branch/ ATM locations

*Only select queries/ transactions may be supported outside banking hours

Types of accounts

Savings Account

  • It is an interest bearing deposit account which may be accompanied with debit card and cheque book
  • There may be certain service charges/restrictions on the savings accounts as decided by the Bank from time to time

Current Account

  • Current account will be offered to business (proprietor/individuals) It is a non-interest bearing deposit account which may be accompanied with debit card and cheque book
  • There may be certain service charges/restrictions on the current accounts as decided by the Bank from time to time

Variants of Deposit Accounts

1. Minor Accounts

  • The Bank may allow minors (above the age of 10 years and up to the age of 18 years) to open and operate savings bank accounts independently
  • The Bank will follow the procedure mandated by RBI at the time when such account holders (erstwhile minors) attain majority

2. Joint Accounts

  • Joint accounts may be opened by more than one individual and be operated singly/jointly, as specified by all the account holders
  • The operating rules in a joint account may be modified only with the consent of all account holders
  • The Bank may allow the deposit accounts to be opened jointly as 'Either or Survivor'

3. Accounts for senior citizens and persons with disabilities / illiterate

  • For our customers with special needs, the Bank may facilitate banking with all due care, as permitted by regulations, provided he/she calls on the Bank personally along with a witness who is known to both the depositor and the Bank. The Bank may also facilitate the opening of deposit accounts, post review and due diligence on a case-by-case basis, for disabled persons
  • In general, the withdrawal/repayment of deposit amount and/or interest in such accounts may be done in the assisted mode in the branch in the presence of the authorized officer who will assist and verify the identity of the person


  1. Paytm Wallet
    Customers can use Paytm wallet for hassle free payments, sending money to bank accounts, and receiving cashbacks in wallet. Further details are available in the following link and updated from time to time:

  2. Paytm Food Wallet
    This is a wallet offering which allows for tax-exempt meal expense bucket. Further details are available in the following link and updated from time to time:

Account Opening and Operations of Accounts

Channels to Clarify Queries

  • Within branch, the branch official will explain the procedural formalities in account opening
  • The customers may also be able to reach the Bank over customer helpline/mobile application to clarify their queries outside the branch


  • Customers will be able to open accounts and fulfill KYC requirements via any of the Branches/authorized agents of the Bank by confirming their identity, address and providing the required documentation. Paytm Payments Bank account can be opened only by a Resident Indian. Customers need to provide their consent for KYC and account opening directly to the bank and not to any intermediaries by calling 0120-4872331

Account Opening Notification

  • The Bank will send a notification via SMS as soon as a customer’s account is opened with the Bank

Regulatory / Statutory Compliance

In order to comply with regulatory/ statutory requirements, while opening an account, we will adhere to the Know Your Customer (KYC) Norms and Anti Money Laundering (AML) as laid down in regulatory guidelines by satisfying ourselves about the identity of the person seeking to open an account and verification of the address of that person/s, thereby protecting prospective customer/s, members of the public, the Bank and other stakeholders against fraud and other misuse of the banking system. We will also satisfy ourselves about the sources of income of the existing/ prospective customer. In order to meet the above, the Bank shall ask customers to provide documents and information as may be required. Customers must also provide to the Bank such documents and information as required for updating and verifying customer information periodically as required.

Debit and ATM Card

Paytm Payments Bank Savings account comes with a free Digital Debit Card. You can also order the debit card in physical format, so as to withdraw cash from ATM’s and transact at POS terminals at merchants across India. Further details are available in the following link and updated from time to time:

Interest on deposits

1. Offered Interest

  • The Bank will pay interest on savings account at the rates as decided by the Bank from time to time and published on its website/mobile application/branches/access points

2. Interest Calculation

  • The Bank will offer simple interest which will be calculated daily (based on the number of calendar days in the year) and paid out monthly, and this offering may be subject to changes based on the discretion of the board members of the Bank

Nomination Facility

The Bank will provide the nomination facility to its customers opening a deposit account

Addition of Nomination

  • Customer will be allowed to view/add/edit nominee through the mobile application/branches

Valid Nominee

  • A nominee cannot be an Association, Trust, Society or any other Organization or any office-bearer thereof in his official capacity. In view thereof any nomination other than in favour of an individual will not be valid.

Nomination Acknowledgement

  • The Bank will acknowledge the receipt of the duly completed nomination, cancellation and/or variation of nomination

Customer Information/Secrecy of customer information

The bank shall not disclose details/particulars of customer’s account to any third person or party without the expressed or implied consent from the customer. However there are some exception, disclosure of information under compulsion of law, where there is duty to public to disclose and where interest of bank requires closure.

Financial products of partner financial institutions

The Bank may distribute certain financial products of our partner banks and other financial institutions. Details of such products will be made available to the customer at the time of product launch for existing customers and at the time of account opening for new customers. Customer consent will be taken for terms of use of such products as applicable.

Deposit Insurance

Insurance Scheme

  • The Bank deposits are covered under DICGC (Deposit Insurance and Credit Guarantee Corporation) insurance scheme

Note:- The insurance will be available only on the amount in the account and not the wallet. As wallet is not a deposit product, wallet balances will not qualify for DICGC cover

Coverage Limit

  • Maximum limit of Rs.1 lakh is offered as the insurance coverage on deposits
  • This insurance coverage limit is inclusive of both the principal and the accrued interest on deposits

Account Closure

Account Closure Request

  • The customer may raise a request to close his/her account through the Bank’s mobile application or by calling the customer care helpline

Turn Around Time

  • The Bank may close the account of the customer within 3 working days (post redemption of partner products) of receiving instructions, subject to the customer completing all formalities and submitting all required documents.

Account Closure/Freeze without Customer Request

  • The Bank may close/freeze the customer account Suo-Moto, where necessary, in line with the KYC/AML Policy of the Bank

Grievances / Complaints / Suggestions

Redressal mechanism for grievances raised over phone/internet

Escalation Matrix Level 1 (Queries)
  • Online queries in Paytm app (
    First response time – 2 working days
    Final resolution time – 4 working days
  • If any case needs additional time, the Bank will inform the customer the reasons for the delay and provide expected timelines for resolution of the issue

Level 2 (Queries)

    If timely resolution is not provided in step 1 or customer is not satisfied with the resolution provided, he/she can call our 24 x7 helpline number

  • Phone - 0120-4456-456
    Final resolution time – 4 working days
  • If any case needs additional time, the Bank will inform the customer the reasons for the delay and provide expected timelines for resolution of the issue

Level 3 (Complaints)
  • If the customer's issue is not resolved even after contacting various complaint resolution channels or in the timelines mentioned above or if the customer is not satisfied with the response, he/she can reach out to the Nodal Officer at:

Nodal Officer

Shri Yogender Singh
Paytm Payments Bank Limited,
A-80, Sector 2,
Noida, Uttar Pradesh-201301
Email :**

**Note: While corresponding, please raise the issue along with related Query Reference Number/Ticket IDs, Paytm registered mobile number and transaction ID/Order ID (if any).

Report a fraud 1800 120 130
  • If any case needs additional time, the Bank will inform the customer/regulator the reasons for the delay and provide expected timelines for resolution of the issue
  • In case the Bank is liable to pay any compensation, the same will be paid to the complainant as per the provisions of the ‘Customer Compensation Policy’ of the Bank

Redressal mechanism for grievances raised in-person
Escalation Matrix
  • In case a customer walks-in the Bank branch or meets grievance officers to raise the grievance, the official will help in resolving the grievance by educating the customer regarding the grievance redressal mechanism and escalating the grievance to the relevant escalation level

District-wise list of Grievance Officers:

SMS GO <Area Pincode> to 9223990641 to get the schedule of your Grievance Officer OR
Call us on Our 24*7 helpline number: 0120-4456-456 to help resolve your query.

  • For resolution of the grievance, the escalation matrix and the procedure, as mentioned above, will be followed

Redressal channels outside the Bank
Escalation to Regulator
  • In case the customer is not satisfied with the response from the Bank within one month of raising the grievance, he/she can approach the Banking Ombudsman (BO) located in State Capitals for redressal
  • The Bank shall ensure that all final written responses to customers on queries / complaints extended beyond 30 days contain the mandatory clause to make customers aware of their rights to approach the Banking Ombudsman
  • The contact details and the procedure for approaching the Banking Ombudsmen are provided at all the branches as well as here:
  • The first point for redressal of complaints is the bank itself and the complainants may approach the BO only if the complaint is not resolved at the bank level within a month
  • For all the complaints received from the regulator, timelines as mandated by respective regulator will be adhered to

Dormant / Inoperative Accounts / Unclaimed Deposits
  • A savings account with no customer induced debit or credit for 24 months will be treated as a dormant/inoperative account
  • Unclaimed deposit accounts mean accounts which have not been operated upon the last ten years

  1. Bank rights and obligations
    • The Bank may block transactions of dormant/inoperative bank accounts on channels such as mobile banking, internet banking and ATM.
    • The Bank will credit the interest on savings bank accounts on regular basis whether the account is operative or not
    • The Bank will also display the list of unclaimed deposits/inoperative accounts which are inactive/ inoperative for ten years or more on its website

  2. Reactivation of dormant accounts
    • The customer can request the Bank to activate the dormant account for operating it. However, the customer may be required to undergo the KYC process again

Deceased Depositors’ Accounts

Settlement of deposit accounts with nominee clause

  • The Bank will make the payment of the balance in the deposit account to the survivor(Legal Heir)/nominee of the deceased deposit account holder on collecting minimum documentation: Death Certificate, PoI & PoA of nominee, Bank statement/Cancelled Cheque
  • The survivor/nominee will receive the balance outstanding in the account as a trustee of legal heirs and such payment to him/her will not affect the right/claim which any person may have against the survivor/nominee

Settlement of deposit accounts without the survivor/nominee clause

  • The Bank will release the balances of the deceased depositor to his/her legal heirs on submission of Death Certificate & Legal documents: Succession certificate/Probate, Letter of Indemnity, PoI & PoA of legal heir (relationship proof of claimant with deceased. Letter of Disclaimer & Bank statement/Cancelled Cheque

Treatment of flows in the name of the deceased depositor

  • The Bank may obtain appropriate agreement/authorization from the survivor/nominee to return the pipeline flows to the remitter with the remark "Account holder deceased"

Time limit for settlement of claims

  • The bank will ensure quick and efficient settlement of funds irrespective the account has specified a nominee or not
  • The Bank may provide the claim facility within branch premises or Customer Care, and will settle the claims in respect of deceased depositors and release payments to survivor/nominee within a period not exceeding 15 days from the date of receipt of the claim subject to the receipt of necessary documentation

Rates and Charges
  • The Bank provides various products and services to customers for which service charges are levied. They can be viewed here:
  • These charges are reviewed/revised as decided by the Bank from time to time
  • The list of service charges is displayed in the branches and may also be made available on request

Time-Norms for Various Banking Transactions

The following time norms (in minutes/days) etc. are indicative only:

S.No Transaction Name Time Taken
1. Cash withdrawals at teller/cashier 5 to 8 mins
2. Cash deposits at teller/cashier 5 to 8 mins
3. Opening of an account (via app/BC) 2 days
4. Account statement via printout at branch 3 to 5 mins
5. Insta Debit Card Issuance 3 to 5 mins

Some “Dos and Don’ts” for the customer

Do's Don’t's
  1. Protect the mobile phone via password
  2. Set a maximum incorrect password input limit
  3. Look for https while logging in the Bank website
  4. Employ a strong password for Paytm login, e.g. use special characters, numbers etc. in the password
  5. Update/change Paytm password and Paytm passcode at regular intervals
  6. Verify transactions in account statements regularly
  7. Verify transaction communication received via SMS
  8. Use nomination facility
  9. Immediately intimate the Bank/Branch for:
    1. Change in address/mobile number
    2. Erroneous / unauthorized transaction
    3. Loss of Debit Card
  10. Report lost/stolen phone to service provider/police
  1. Never transfer funds without validation of recipient
  2. Never share the Login details/PIN/OTP/Transaction IDs/Passcode/confidential information over phone/internet
  3. Do not store any sensitive information such as Paytm passcode, password, debit card details, etc. in a folder on phone/computer or on paper etc.
  4. Never forget to intimate us for change in address/mobile number to avoid mis-delivery of transaction communication
  5. Never click on embedded links from unknown sources on social networking sites/emails
  6. Employ caution on using Bluetooth and WiFi in public places

  • The Bank has the right to decline the opening of account if a customer is unable/unwilling to provide requisite information
  • The Bank (as a Payments Bank) is not permitted to offer overdraft/advances against deposits
  • For cash deposit exceeding Rs.50,000/- in a day, PAN number of respective account holder will be required
  • The bank will not be liable to compensate customers for delayed credit if some unforeseen event beyond the control of the bank prevents it from performing its obligations

Regulatory References
  • Master Circular on Customer Service in Banks dated July 1, 2015
  • RBI circular on 'Operating guidelines on Payments Bank' dated October 6, 2016

© Copyright , Paytm Payments Bank
© Copyright , Paytm Payments Bank