Paytm Payments Bank
Savings AccountPaytm Payments Bank offers all the services which it does as a wallet, and additional features like:
To open your Bank Account, kindly follow these simple steps.
For closure of your account, you will need to raise a ticket with us from the '24X7 Help' section in the Bank tab of your Paytm App.
If you choose to close your Savings Account only, you will still be able to use your wallet as usual.
No, only one Savings Account can be opened per customer
To check your account details, follow these simple steps.
To check your nominee details, follow these simple steps.
In case you have not added a nominee during the account opening process, please follow the steps below:
Please note that you can have only one nominee for your account and the nominee has to be atleast 18 years of age.
In case you wish to update your nominee, please follow the steps below:
You can add your PAN number to your account (if not done already) in four simple steps:
Your PAN number is now saved with us.
Paytm passcode is a 4-digit numeric code which acts as an additional security check to authorise access to your bank account details and transactions. This is to ensure a higher level of security for your bank account details and transaction history.
Paytm password is a security check which allows you to login into your Paytm account and make online transactions. It is a combination of alpha-numeric and special characters.
Paytm passcode is a 4-digit numeric code which acts as an additional security check to authorise access to your bank account details or transactions. This is to ensure a higher level of security to your bank account details and transaction history.
We suggest you follow below steps to reset your passcode:
In case you are still unable to reset your passcode, kindly send us a screenshot of the displayed error message.
You can change your passcode by following steps below:
Your passcode will be changed successfully.
If you request for savings account using Paytm App, you set Passcode over there. If you requested savings account while completeting your KYC through our BC point, you can set your passcode by 2 ways:
Your deposit will earn interest of 3.5% p.a. on your Savings Account balance. Interest earned will be added to your Savings Account in the first week of each month.
As per the RBI guidelines, you can hold only a maximum of ₹1 lakh in your Paytm Payments Bank account at end of the day. This limit is imposed on the sum of your wallet and Savings Account balances.
Your balance amount exceeding ₹1 lakh is moved to a Fixed Deposit with our partner bank, IndusInd Bank, where you earn interest as per rates offered by them. You may redeem the amount in the Fixed Deposit at any time free of charge.
Currently, we do not provide chequebook facility for the Savings Account.
Currently, we do not provide demand draft facility for the Savings Account.
WalletOn Paytm App
On Paytm.com
You can Add money to your Paytm Wallet in a few simple steps:
If you are a KYC customer you can add any amount as long as your wallet balance does not exceed Rs.1,00,000 at any point in time
If you have completed your min-KYC using an Officially Valid Document (OVD), you can transact and add upto Rs. 10,000 in a month
Click here to know how to upgrade your Paytm Wallet for free
Click here to know more about charges of Add money to wallet
At Paytm, your money is yours. Amount deducted from your bank/card is added to your account instantly. Incase your transaction fails, no amount will be deducted from your bank/card.
However, in a very rare scenario, if any amount has been deducted, your bank will reverse the amount back to your account. Reversal of the amount back to your account will depend on your mode of payment. In case of Net Banking, the amount is reversed instantly. In case of UPI, the amount will be reversed in 5 working days, and in case of of Debit Card, the amount will be reversed in 2 working days.
At Paytm, your money is yours. Amount deducted from your bank/card is added to your account instantly. Incase your transaction fails, no amount will be deducted from your bank/card.
However, in a very rare scenario, if your bank/card has deducted any amount, it shall reverse the same to your account as per its own timelines. Time taken by your bank to add this money back in your account/card is beyond our control. We suggest you contact your bank’s customer care to know the time taken by their internal process.
On Paytm App
To see your Paytm Balance, follow these steps:
On Paytm.com
You just have to sign-in to your Paytm account and your Paytm Wallet balance will be shown just below the wallet icon on top-right of the page.
To sign-in, click the Log In/Sign Up icon on the top-right of the page
On Paytm App
Transactions where you can take the refund amount to your bank are clearly marked under the ‘My Orders’ section.
There are no charges for taking the refund amount to your bank from which the payment was made.
On Paytm.com
Transactions where you can take the refund amount to your bank are clearly marked under the ‘My Orders’ section.
There are no charges for taking the refund amount to your bank from which the payment was made.
Please note that cashback can be delayed because of the monthly limit of Rs.10000 of the Paytm wallet. In such cases, the cashback amount will be added to the wallet automatically on the first day of the next month. Otherwise, you can upgrade the wallet. We would recommend that you get your KYC done so that you don’t face any issue because of wallet limits.
In case you need further assistance, please contact us at Care
Please check the Terms & Conditions and validity of the Promo Code. If you have a concern, please write to us by sharing the screenshot of the error message at Care
Once your documents have been collected, it will take up to 3 working days to upgrade your wallet on successful verification. In case your wallet is still not upgraded within this time-frame, we request you to contact us at Care
If your wallet is linked to a third party merchant like Uber, the merchant can deduct the balance from your wallet for the services provided by them.
On Paytm App
To revoke access from a particular third-party merchant, kindly follow these steps:
On Paytm.com
To revoke access from a particular third-party merchant, kindly follow these steps:
You should contact the merchant to refund the amount. The merchant will check actual value of the transaction and refund the extra amount if deducted. If you do not get a resolution within 48 hours, you can lodge a complaint at Care
The transaction will not be successful in case your wallet balance is not sufficient. However You can add the amount or pay using different payment mode.
Your Paytm wallet is always active and ready to use. Please inform the merchant about the problem, and they should resolve it. In case you do not get a satisfactory response from them, let us know here
Your money is in Paytm Wallet, and not with Uber. It is Paytm’s responsibility to make sure that your money is safe. We are an RBI approved wallet and your money is protected under an Escrow account with a reputed Bank. Rest assured that your money is 100% safe.
No worries! Just follow the steps and write to us
You can tap on the flash button on the top right while you scan the Paytm code.
You can check the confirmation in 3 ways:
To check all previous payments with the merchant, amount and order details, kindly go to the ‘Passbook’ section of your Paytm app
If you paid less, make another payment to complete. If you paid more and want a refund, you can request a refund from the merchant or contact us at paytm.com/care. Go to the ‘24x7 Help’ option in your Paytm app and select the option ‘Your wallet transactions & balance. Select the order and raise the query. We will get back to you soon with resolution.
On Paytm App: Sending money with Paytm is really fast and simple. Please follow these steps:
On Paytm.com: This feature is not available on Paytm.com, kindly download the Paytm app to use this feature.
You cannot send money to a user who is not registered on Paytm. In case you try sending money to an unregistered user, you will be displayed an error message stating that the user you are trying to send the amount to is not registered on Paytm.
No, sending money to another person is totally free and the receiver gets the complete amount you have sent.
On Paytm.com: This feature is not available on Paytm.com, kindly download the Paytm app to use this feature.
On Paytm App: To send money to a bank using Paytm, kindly follow these steps:
A full KYC customer can transfer up to Rs.1 lac in a calendar month.
To send an amount of over Rs. 10,000, you will first need to add the receiver as a beneficiary before performing the transaction.
On Paytm App: To pay using OTP you need to follow these steps:
This OTP can be shared even if you don’t have network coverage or Internet connection. You can also share the OTP received through SMS.
On Paytm.com: This feature is not available on Paytm.com, kindly download the Paytm app to use this feature.
You can share your in-app OTP in the ‘show Paytm code or OTP’ option which is always accessible or ask the merchant to resend OTP.
Please make sure that your device time/clock is updated. Please correct the time and start using in-app OTP. If the problem persists, please contact us at paytm.com/care. Go to the ‘24x7 Help’ option in your Paytm app and select the option ‘Your wallet transactions & balance. Select the order and raise the query. We will get back to you soon with resolution.
You do not worry about that. In-app OTP will change every 60 seconds so the merchant cannot know your OTP to do any frauds.
You can add money in Paytm and then share the OTP to complete the payment.
If you paid higher amount already, ask merchant to refund, if merchant is not able to do, please contact us at Care. Go to the ‘24x7 Help’ option in your Paytm app and select the option ‘Your wallet transactions & balance. Select the order and raise the query. We will get back to you soon with resolution.
On Paytm App: To pay using Paytm Code, you need to follow these steps:
This Code can be shared even if you don’t have network coverage or Internet connection.
On Paytm.com: This feature is not available on Paytm.com, kindly download the Paytm app to use this feature.
No. Your barcode changes every 60 seconds, so merchant or for that matter no one can do a fraudulent activity by saving your barcode. Also, it can be used only once to pay from your wallet.
Ask merchant to refund. If merchant is not able to do, please contact us at Care. Go to the ‘24x7 Help’ option in your Paytm app and select the option ‘Your wallet transactions & balance. Select the order and raise the query. We will get back to you soon with resolution.
Only a corporate can get Paytm food wallet enabled for its employees. If your organisation has subscribed to use the services of Paytm Food Wallet, then your food wallet will automatically be created when your employer’s admin/ HR team loads it for the first time. If you want to get your food wallet, you may contact your admin/ HR and ask them to reach out to foodwallet@paytm.com.
Once the Food wallet has been created and loaded for the first time by your corporate, the Food wallet balance can be seen in the Passbook tab of your Paytm app. You just need to update your app to the latest version. You can also see your Food Wallet balance in the wallet section on paytm.com.
You will get an Email/Push notification from Paytm when your corporate loads your food wallet.
When you make a transaction to any of the merchants who are tagged with us under food category, the payment is completed by first consuming the available food wallet balance, and the shortfall amount if any is consumed from Paytm wallet balance.
In case food wallet balance is used in any transaction, you can see the food wallet usage details once you tap that particular transaction in your passbook on Paytm app.
This could happen because the merchant is not registered with us as a food category merchant at the time of merchant onboarding. Hence, please advise the merchant to contact the Paytm merchant helpline number and get his category updated if the merchant is actually a food category merchant.
Paytm food wallet will work on all online/offline merchants. If a merchant is of food category, the food wallet balance will be displayed in cashier page and the balance will be automatically used if you pay using Paytm wallet.
No, you do not need to do any extra steps to make payment through food wallet. The food wallet balance will automatically be used to make payment at a food category merchant when you pay through Paytm wallet.
Yes, Rs 45 will be deducted from food wallet and Rs 50 from Paytm wallet. The balance deduction will be seamless and you do not need to do any extra steps.
The refund will be to either food wallet or Paytm wallet basis the amount deducted from the respective wallet at the time of payment.
| Food Wallet | Paytm Wallet | |
|---|---|---|
| Payment (of Rs 900) | -400 | -500 |
| Refund (of Rs 900) | +400 | +500 |
| Payment (of Rs 700) | -200 | -500 |
| Refund (of Rs 700) | +200 | +500 |
The balance in your food wallet has a monthly limit of Rs. 5000 over and above any regulatory limits.
KYCWallet services provided by Paytm Payments Bank are governed under the RBI guidelines of pre-paid instruments. These guidelines require that for issuing Wallet to customer Minimum KYC must be completed. Further, Minimum KYC is valid for 18 months. For using Wallet beyond 18 months as well as for availing complete benefits of Wallet, Full KYC needs to be completed.
Also, for availing Savings Account services (optional) provided by Paytm Payments Bank, Full KYC needs to be completed.
Click here to complete your KYC.
As per RBI guidelines, you to need do complete Minimum KYC to activate your wallet. In order to complete Minimum KYC you need to provide your Name and Unique identification number of any of Passport, Voter ID, Driving License or NREGA Job Card.
Minimum KYC allows you partial access to benefits of Paytm Wallet. With you minimum KYC wallet you
As per RBI guidelines, Minimum KYC is valid for 18 months only. To get complete benefits of wallet and to continue usage beyond 18 months, you need to complete your Full KYC.
In case your Minimum KYC is not complete, you will see an exclamation mark against your Name in the flyout menu that opens from the left. Tapping on your name will take you to the profile page where you will see a banner showing you that your wallet is not active. Tapping on the banner will take you to the screen where you can provide your Name and Unique identification number of any of Passport, Voter ID, Driving License or NREGA Job Card.
On submitting these details, you will become a Minimum KYC customer and your Wallet will be activated.
Click here to complete your Minimum KYC now.
Minimum KYC is required for using Wallet. Without Minimum KYC it is still possible for you to use Paytm for UPI money transfer and make purchases using credit/debit cards and net-banking.
As per RBI guidelines, your Minimum KYC will expire in 18 months unless you complete Full KYC with in-person verification. After expiry, you will not be able to add money to your wallet or transfer the balance amount to your bank account. You can however continue to use your existing wallet balance for making payments at 10 Million+ merchant outlets as well as online payments on apps/websites accepting Paytm. You can also continue to use Paytm for UPI money transfer and make purchases using credit/debit cards and net-banking.
If your Minimum KYC is complete, you will see a KYC icon on Paytm Home Page on the Blue Strip at the top. On tapping on this icon you will be able to see details of your Minimum KYC expiry date. In case your Minimum KYC has expired, it will be mentioned on this screen.
You can become a full KYC customer once you complete your in-person verification. By becoming a full KYC verified customer, you will get the following benefits:
Click here to complete your Full KYC.
To become a Full KYC customer, you need to complete in-person verification in any of the following ways:
1. Aadhaar based KYC at your Nearby KYC Point: You can find Nearby KYC points by tapping on https://m.p-y.tm/kyc on your smartphone or visiting this link on your browser. You may also tap on the Nearby icon on the blue strip at the top of Paytm App Home page. You need to carry your Aadhaar and PAN* for verification. You will need to verify your Aadhaar biometrically.
2. Aadhaar based KYC at your Doorstep: This is in pilot phase and has been rolled out to limited users in select locations. In case you are part of the pilot exercise, you will find this option by tapping on https://m.p-y.tm/kyc Else, you may visit the KYC point nearest to your location.
3. KYC without Aadhaar: This facility is available only at select locations as RBI guidelines require verification of original documents to be done only by our employees. You can find the schedule of our employees by going to https://m.p-y.tm/NoBiO. You will need to provide your PAN* and any ONE of the below Govt. issued Address Proof documents in original: Driving License / Voter ID / Passport / NREGA Job Card.
*In case you don’t have PAN, our representative will assist you in providing a Form 60 declaration as per RBI guidelines.
Some important points to note:
No. KYC is FREE. You don’t have to pay any charges to the authorized Paytm Payments Bank representaives for KYC.
KYC process is completely safe and is carried out by authorized representatives who have undergone thorough background verification and intensive training. All details are captured via Paytm Payments Bank’s authorized application and are transmitted securely to our servers and are not stored on our representative’s handset. Similarly, your fingerprint impressions are not stored and are used for just a one-time verification of Aadhaar details with UIDAI. Our processes follow strict regulatory guidelines laid down for banks and are frequently subjected to external audits.
Once your in-person verification has been completed by our authorized representative, it will take another 2-3 working days to complete your full KYC verification.
Login to your Paytm App and tap on your name in the navigation panel on the left hand side. If your KYC has been done, you will see a blue tick-mark next to your name.
No. While completing Full KYC you can choose to upgrade your Wallet & Open Savings Account, only upgrade your Wallet or only open your Savings Account. You get to make this choice yourself over an IVR call at the start of your KYC process.
Some of the key benefits of Savings Account are as follows:
No. In-person verification is required for completing Full KYC. You will need to visit one of our nearby KYC points for your in-person verification.
This is in pilot phase and has been rolled out to limited users in select locations. In case you are part of the pilot exercise, you will find this option by tapping on https://m.p-y.tm/kyc Else, you may visit the KYC point nearest to your location.
As per our current process, all Indian citizens, Indian residents and Tax residents of India and of no other country who are above 18 years of age are eligible for KYC. We will be enabling KYC for minors and foreign residents soon.
Currently we don’t have support for this. We will be enabling KYC for minors soon.
Aadhaar OTP based KYC is valid for only 1 year as per RBI guidelines. You need to complete your in-person verification to continue using your wallet after 1 year.
Your KYC can be done against only one mobile number.
In case you want to update mobile number against an existing KYC account, you can simply login using your existing mobile number and tap on your name in the navigation pane on the left. On the landing screen you will get an option to update your mobile number.
In case you have done your KYC on a mobile number you no longer have access to and need to get KYC done on a new mobile number please go to our 24x7 Help section and raise a ticket in the ‘I want to know the process to De-Link my KYC document’ section.
This is as per the requirements of RBI Master Direction on Issuance and Operation of Prepaid Payment Instruments (Section 9.1). Minimum KYC Wallets are not allowed to transfer balance to a Bank Account. Bank transfer is enabled only post Full KYC. Full KYC is also needed in case a Minimum KYC customer wants to close account and transfer balance to Bank Account.
Click here to complete your Full KYC.
Aadhaar OTP based self KYC is only valid for one year. In-person Full KYC verification needs to be completed within one-year for uninterrupted wallet services. If Full KYC is not completed within one year, then debit and credit freeze needs to be applied on Wallet as per RBI Master Direction on KYC. In case your account has been frozen, please get your KYC done. Post successful KYC your wallet will be activated again. Click here to complete your Full KYC.
Individual Current AccountCurrent account is used to facilitate frequent banking transactions and it is meant to make the day to day transactions of a business easier to the current account holder in accordance to company's policy. There will be no restriction on number and amount of transactions on such accounts. Bank will not pay any interest on the balance held in the Current account, but Customer may be offered Fixed Deposit and NetBanking to invest the money.
Some of the major differences between Current Account and Savings Account:
Yes. Primarily, Current Accounts are meant for business transactions but any individual either single or jointly can open a current account for his/her daily frequent banking transactions
The main features of Current Account are as follows:
Below listed entities are eligible to open a Current Account:
Note:Individual/Company must be resident/incorporated in India respectively
Formalities/procedures relating to introduction and opening of Current Accounts for individuals are same as those mentioned for Savings Bank Accounts (Savings Account FAQ Link)
Yes. With PPBL Current Account, you will be offered a Platinum Rupay Business debit card which is acceptable at ATMs pan-india
Paytm Payments Bank passcode is a 4-digit numeric code which acts as an additional security check / 2FA to authorise access to your bank account details and transactions. This is to ensure a higher level of security of your bank account details and transactions.
Your Netbanking panel password is the same as that of your Paytm account password. If you aren't registered with Paytm yet, create a Paytm account with your registered netbanking mobile number to start using the Netbanking panel.
Paytm password is a security check which allows you to login into your Paytm account and make online transactions. It is a combination of alpha-numeric and special characters.
Paytm Payments Bank passcode is a 4-digit numeric code which acts as an additional security check / 2FA to authorise access to your bank account details and transactions. This is to ensure a higher level of security of your bank account details and transactions.
Incase you have forgotten your passcode, you can visit the Manage profile section of your netbanking panel to reset it- You will be asked for your basic aadhar details to the reset the same.
You can always reset your passcode by visiting the Mange profile section of the netbanking Panel - You simply need to enter your current passcode to generate a new one.
As per the RBI guidelines, you can hold only a maximum of ₹1 lakh in your Paytm current account at end of the day. This limit is imposed on the sum of your wallet balance, savings account balance and current account balance.
Your balance amount exceeding ₹1 lakh is moved to a Fixed Deposit with our partner bank, IndusInd Bank, where you earn interest as per rates offered by them. You may redeem the amount in the Fixed Deposit at any time free of charge.
Total balance in your Current Account is the sum of Current Account balance and FD invested.
To process the transaction, first you have to redeem the FD and initiate the transaction again.
As per RBI guidelines, Paytm bank is not allowed to retain funds exceeding 1 lakh in your Current Account.
Your balance amount exceeding ₹1 lakh is moved to a Fixed Deposit with our partner bank, IndusInd Bank, where you earn interest as per rates offered by them. You may redeem the amount in the Fixed Deposit at any time free of charge.
User can withdraw the money at any point of time from the Net banking panel. On successful withdrawal, total FD sum will be added to your Current Account balance instantly.
Yes, the money in your Fixed Deposit can be used once you redeem the amount and the funds will be added in your Current Account balance.
Today's FD creation rate table can be found here - https://www.indusind.com/footer/rates.html.
The interest earned is calculated according to the interest table of the IndusInd bank as applicable on the date of creation of FD.
We currently do not support automatic sweep in facility for the fixed deposit where the funds will be automatically added if the balance is less than Rs. 1 lakh.
PassbookPlease follow the given steps to view your Savings Account passbook
We send your monthly statement on your registered mail ID at the end of each month.
In case you wish to get your statement, right away follow the steps mentioned below:
Fixed DepositAs per the RBI guidelines, you can hold only a maximum of ₹1 lakh in your Paytm account at end of the day. This limit is imposed on the sum of your wallet and Savings Account balances.
Your balance amount exceeding ₹1 lakh is moved to a Fixed Deposit with our partner bank, IndusInd Bank, where you earn interest as per rates offered by them. You may redeem the amount in the Fixed Deposit at any time free of charge.
Yes, the money in your Fixed Deposit can be used once you redeem the amount and it is transferred to your Savings Account.
Please follow the given steps to close your Fixed deposit
Today's FD creation rate table can be found here - https://www.indusind.com/footer/rates.html.
The interest earned is calculated according to the interest table of the IndusInd bank as applicable on the date of creation of FD.
Interest certificate is sent to all customers on their registered e-mail ID at the end of a financial year.
We do not have an automatic sweep in facility for fixed deposit. Please redeem the FD using the steps given below
Debit CardOnce your Debit & ATM Card has been delivered to you, it can be activated by scanning the QR code on the back of your card from your Paytm App. We have listed the steps below.
Your Debit & ATM Card will be activated
Your ATM PIN will be available to you only in case you have ordered a physical card. In case you would like to reset your PIN, please follow the steps below
Your ATM Card PIN will be changed successfully
Please follow the given steps to block your card
You can unblock it any time using the 'Unblock Card' option
Your card can be unblocked only if you have blocked it previously. Please follow the given steps to block your card
Your card will be unblocked on entering the passcode
On opening Savings Account, you will get a Digital Debit Card. To apply for a physical Card, kindly follow the steps below
You will be able to track the delivery status of your card through your app
Please refer our rates and charges: https://www.paytmbank.com/ratesCharges.html
In case you have placed an order for a Debit & ATM Card, kindly follow the steps below to track the delivery status
We request you to kindly check if the card was received by any of your neighbors or anyone at your delivery address. In case you are not able to locate the card, please contact us within 10 days from the date of delivery. We will get it checked with our courier partners.
Your Paytm Payments Bank Savings Account comes with a digital debit card that you can use to make payments on all online platforms where debit cards are accepted. You have the option to order the physical card which can be used to withdraw cash from ATMs and to shop at most stores across India. This card is currently issued in partnership with RuPay.
Digital debit card is issued to you upon opening of Savings Account. Digital debit card can be used across all online platforms for transactions. On request, you can also get Debit & ATM Card with the same number as digital card. This card can be used for withdrawing cash from ATMs and also to shop at most stores across India.
Please follow the steps below to view your card details
The Debit & ATM card can be used only to spend money available in the Savings Account.
The Debit & ATM card is accepted only on merchants in India.
The cumulative daily cash withdrawal limit at ATMs (& Micro-ATMs) set by Paytm Bank is ₹25,000/- subject to limits set by other banks. Daily limit for Micro-ATM cash withdrawal transactions is ₹5,000, subject to limits set by other banks.
The spending limit at POS & Ecomm combined is ₹2,00,000 per transaction and per day.
Please refer our rates and charges: https://www.paytmbank.com/ratesCharges.html
In case you have lost your Debit & ATM Card, you should block your card using your App. The steps are given below.
Your card will be blocked and a new Digital Debit Card will be issued to your account. Once that is issued, you can apply for a new Debit & ATM Card.
You can receive money using your Debit & ATM Card by allowing the payer to scan the QR code on the back of your Debit & ATM Card. Once the QR code is scanned and money is sent, you will receive the amount in your bank account or wallet instantly.
Annual subscription fees of Debit & ATM Card are the charges levied on yearly basis from the date of pin set of the Debit & ATM card that is linked to your account
Please refer our rates and charges: https://www.paytmbank.com/ratesCharges.html
An Instant Debit & ATM Card is a non-personalized Debit Card, which can be issued and mapped to a customer’s account instantly if his account is open. All the functionalities like activating the card, blocking/unblocking, hot listing, set/reset PIN, transaction limits, usage are same as for a personalized Debit Card
Visit the nearest Paytm Payments Bank Branch or Banking Outlet and request for an Instant Card
On collecting the request through the agent’s app, the card will be mapped to your account instantly, if your Paytm Payments Bank account is open. Once the card is mapped to your account, you can activate the card through your consumer app or IVR by setting the PIN
Your existing digital debit card will be permanently blocked and you will be issued a new digital card with the same details as the Instant Debit and ATM card. You Debit and ATM Card will be automatically hot listed
RuPay Card insurance program is a value added service of the RuPay Card Scheme which provides an insurance cover of Rs 2 lac (accidental death or Permanent Total Disablement only) to eligible RuPay Cardholders
RuPay offers a complimentary personal accident insurance and permanent total disability cover for Rupay Cardholders. The following are the cases covered under this insurance policy.
All RuPay Debit Cardholders are eligible for the Insurance cover, however, there are a few mandatory criteria that need to be fulfilled in order to be eligible for the insurance cover.
Please find below, the criteria to check your eligibility.
If you have a Paytm Payments Bank Account and wish to initiate your claim process, a duly filled and signed claim form will be needed to be submitted along with all the required supporting documents.
To download the claim form, please visit www.paytmbank.com and scroll down to the 'Form Center' section. Under this section, you will find the 'RuPay Insurance Claim Form'.
Claim intimation should be made within ninety (90) days from the date of documents. All supporting documents relating to the claim must be submitted within sixty (60) days from the date of claim intimation.
Any claim that is intimated after 120 days from the date of the policy period shall not be eligible for compensation under the RuPay Insurance Program
The claims will be settled in ten (10) working days from the date of receiving the complete document set and assessment of entitlement by the New India Assurance Co. Ltd
Add MoneyYou can add money to your Paytm Payments Bank Savings Account by using "Add Money" option on the bank homepage. You can add money from:
You can also deposit cash into your account at any of our Banking outlets.
There is no limit* on the amount of money you can add to your Savings Account. Balance amount at the end of the day in excess of ₹1 lakh is moved to a Fixed Deposit with our partner Bank, IndusInd Bank. This will be visible in your Passbook. This amount can be redeemed at any time without any charge
*If you add money via your debit card, then the following limits will apply -
1. No more than Rs. 10,000 can be added (each month) to your account using your debit card(s)
2. One debit card can be used to add a maximum of Rs. 10,000 (each month) across savings account(s)
Yes, you can send money to your Savings Account from your wallet at 5% transfer fee.
You can use 'Add Money' option on our App and web to add the money in your wallet. Please follow the steps below
You will get a confirmation for the funds added to your wallet
No, there are no charges for adding money to your Savings Account.
No, currently we do not provide the facility of accepting a cheque. However, our team is working on it to introduce new features and facilities for our customers. We will keep you updated.
No, currently we are not providing the facility of accepting a Demand Draft. However, our team is working on it to introduce new features and facilities for our customers. We will keep you updated.
Money Transfer
Timings for Money Transfer:
The Rs. 1 lakh limit is the end of the day balance limit in your account. There is no limit on amount that your bank account can hold during the day. At the end of each day, the amount in your account that is more than Rs. 1 lakh is swept out into a Fixed Deposit with our partner bank.
Savings account customers can send up to Rs. 10 lakhs in a day.
Transferring funds from Paytm Payments Bank savings account is free of cost. We do not charge users for fund transfers from their savings account.
Fund transfer of up to Rs. 2 lakhs is done through IMPS. If such transactions go into a pending state, as per NPCI guidelines, the funds would be either reversed or credited to receiver’s account within 24 hours failing which, our team would take this issue up with the receiver’s bank. In such cases reversal could take a maximum of 3 days.
Fund transfers above Rs. 2 lakhs are done through NEFT. In this mode, settlement happens at RBI in batches scheduled at every 30 minutes. Usually receiving banks can take up to 2 hours
No, fund transfers above Rs. 2 lakhs per transaction to other Bank accounts can’t be done on bank holidays as NEFT is not available. However, fund transfers up to Rs. 2 lakhs per transaction can be done on bank holidays through IMPS mode.
Fund transfers above Rs. 2 lakhs are done using NEFT. The receiver bank is required to reverse the funds against the failed transaction within 2 hours. In some cases, Receiver Bank can take up to 24 hours to reverse the funds.
Please reach out to our Customer Helpdesk Team if you have any query about your transaction. If you are not satisfied with reply received then you can escalate this to us by reaching out at:
Phone: 0120-4456456
Email: neftrtgs.support@paytmbank.com
In this scenario, we suggest that you reach out to sender bank's customer facilitation centre (CFC) team, please click the link below to find the contact information of other bank's CFC teams:
BHIM UPIBHIM UPI (Unified Payment Interface) is a mobile payment mode that enables you to create a UPI ID linked to a bank account and then send or receive money using it. Additionally, you can also make payments to online merchants and outlets who accept BHIM UPI as a payment mode for transactions.
UPI ID (also called Virtual Payment Address or VPA) is a unique identifier you can create in order to send and accept money via UPI. Once a UPI ID is created and mapped against your bank account, you can simply share your UPI ID (eg. abc@paytm) with the payer. Once the payer enters your UPI ID and sends the money via UPI, it will be added to your account without having to enter any of your other bank details.
UPI PIN is a 4 or 6 digit PIN that can be used for authenticating your UPI transactions. Your UPI PIN will be validated by the bank whose account you are using to pay with. The UPI PIN is different for different bank accounts.
UPI ID or VPA, can be created when you register for UPI on Paytm App.
You can add bank account to your UPI ID by following the below-mentioned steps.
As your bank doesn’t support UPI, you will not be able to add or link your bank account. We keep our list of banks updated.
Your bank account must be registered for mobile banking with the same mobile number with which you are registered on Paytm.
There is no limit on the number of bank accounts that you can add.
Paytm wallet cannot be added to your UPI ID. Hence, you will not be able to use your Paytm wallet balance for your UPI payments/transactions.
Your Paytm Bank UPI PIN is different from your password or passcode. Your Paytm Bank UPI PIN can be used for paying with your Paytm bank account across all UPI apps.
Your Paytm password helps you login to your Paytm account, and your Paytm passcode is used to authenticate certain transactions and activity that you do on Paytm App.
You can set your UPI PIN by following the below-mentioned steps.
You can change the default account by following the below-mentioned steps.
You can send money using UPI by using the beneficiary’s UPI ID or account number and IFSC. Kindly follow the below-mentioned steps to send money using UPI.
You can request money from another user using UPI by following the below-mentioned steps.
Kindly follow the below-mentioned steps to approve or decline a payment sent to you.
If someone sends you money to your UPI ID, the amount will be credited to your default credit account. To change your default credit account, kindly follow the below-mentioned steps.
You can send upto Rs 1 lac in a single transaction using UPI.
There are no charges for transferring money using UPI.
In order to secure your transactions, we verify the mobile number and device that you used when you registered for UPI on Paytm. If you wish to use a different device to transact using UPI, you will need to complete the mobile number verification process that will be prompted on App. Your new device should have the SIM card of the mobile number with which you are registered on Paytm.
Kindly follow the below-mentioned steps to check your past UPI transactions in your Paytm App.
Yes you can pay any online merchant who accepts UPI payments using your Paytm UPI ID. In case the merchant accepts UPI as a payment mode, kindly follow the below-mentioned steps to complete your transaction.
Please check your bank account statement to see whether the amount was added back. In case the amount has not been added, we recommend to wait for 2 working days, within which the bank should add the money back to your account. In case money has not been added within 2 working days, please reach out to us.
We recommend you to wait for 2 working days, within which the bank should add the money to the beneficiary account or reverse the same to the sender’s account. In case money has not been added within 2 working days, please reach out to us.
Payment Request(NACH)Payment Request is a NACH Mandate (earlier called ECS). It is used for payments which are repititive in nature. To use Payment Request, you need to share a mandate with your corporate, authorizing Paytm Payments Bank to debit your account.
To make changes in an existing Payment Request, you will have to initiate an Amend Request on your mandate through the Corporate.
You can initiate a Cancel Request through your Corporate in case you want to stop a Payment Request.
Yes, you need to verify the details of the mandate on your Paytm App and authenticate it by entering your passcode.
No. All transactions based on that Payment Request will be automatically debited from your account. You will be able to see the amount debited in the Payment Request section in the Bank section.
Yes. There is no cap of number of Payment Requests or mandates that can be raised on your Account.
You need to maintain sufficient funds in your savings account on the day of scheduled transaction. In case the funds are not maintained, your transaction will be rejected due to insufficient funds.
PPBL will automatically deposit the excess amount above Rs. 1 lakh to a Fixed Deposit with our partner bank at the end of the day which can redeemed anytime at absolutely no extra charges.
Your Payment Request or mandate will automatically get expired on the specified end date.
You can check your transaction history from the Payment Request tab in the Bank section of your Paytm App.
General QueriesYou can exchange and deposit soiled notes and coins of valid denominations at our branches.
If a currency note tendered at the branch is found to be counterfeit, the counterfeit note will be duly impounded & acknowledgement will be issued. Counterfeit note will not be returned in any case.
Magnifying glass is available at ‘May I Help You’ counter in the branch for the use of our customers. We request you to approach any of our branch staff for assistance on the same.
Complaint book is available at the ‘May I Help You’ counter in the branch.
As you may be aware that the account is classified as dormant/inoperative if there are no customer induced transactions in the bank account for a period of two years. We therefore request you to initiate an add money or send money transaction or any other credit or debit transaction atleast once in a year to keep your account active.
To activate your account upon the same being classified as dormant/inoperative, please contact our customer service team who will share a web-link for you to upload your photograph, Proof of identity and Proof of address. You may also be requested to visit your nearest KYC point and submit these documents.
Once the documents are verified by our team, your account will be activated again.
