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 4% 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.
KYCApart from Full KYC, RBI allows a min KYC for which you need to provide on Paytm App the ID Document such as PAN Card, VoterID, Driving License, Passport, MNREGA Card. Min KYC will provide you spending limits upto 10,000Rs. Min KYC will have an expiry of 1 Year before which you must complete Full KYC.
Paytm Payments Bank recommends you to visit our KYC points to complete your Full KYC with wallet limits upto Rs 1,00,000 and remove spending and cashback earning limits, and you also become eligible to Open Paytm Payments Bank Saving Account.
You can check whether your KYC has been done by following the steps below
Login to your Paytm App and open your profile section by clicking on (=) icon on top right If your KYC has been done, you will see a blue tick-mark next to your name.
By becoming a full KYC verified customer, your monthly transacting limits on wallet will no longer be ₹10,000. Additionally, you will get the following benefits:
To complete full KYC of your PPBL account, you need to complete in-person verification by visiting a nearby KYC center. To become a KYC user, please follow the link below:
You can become a full KYC customer using any of these 4 documents: Driving License, Passport, Voter ID, NREGA. It may take up to 7-10 working days to become full KYC customer through this route.
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 - http://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 - http://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
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: http://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 delivery 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 15 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 withdrawal limits at ATM are ₹50,000 per transaction and per day, 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: http://www.paytmbank.com/ratesCharges.html http://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.
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. 1 Lac for Non-Premium cards and Rs. 2 Lac for RuPay Premium card (accidental death or Permanent Total Disablement only) to eligible RuPay Cardholders
RuPay offers a complimentary personal accident insurance and permanent total disability cover on all RuPay Debit Card variants (i.e.) RuPay Classic, RuPay Platinum & PMJDY etc.
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 criterias that need to be fulfilled inorder to be eligible for the insurance cover.
Please find below, the criterias 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
Yes, you can send money to your Savings Account from your wallet at 4% transfer fee.
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 TransferYou can transfer money to other accounts from your Savings Account by clicking on the Money Transfer icon on the Paytm or Bank Homepage.
The steps for transferring money to other accounts are given below
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
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.
