CLOSURE OF ZERO BALANCE DORMANT ACCOUNTS WITH PAYTM PAYMENTS BANK LIMITED
Date: 14th October 2022
Dear Bank Customer,
Please note that all Savings Accounts and Current Accounts currently being maintained with Paytm Payments Bank Limited that have not been operated since inception, have not had any transactions for last 2 years or more and have nil balance, shall be closed w.e.f. 15th November 2022.
Additionally, all Paytm Wallets that have not had any transactions for last 2 years or more, have nil balance and have surpassed their period of validity and/or KYC has been suspended, shall be closed w.e.f. 15th November 2022.
In case, you are impacted by this notice, you are hereby advised to refer below section and reach out to us for initiating the necessary formalities for re-activating these dormant accounts before 15th November 2022.
For any further clarification or additional information or completing the necessary formalities, please visit our bank branch Skymark One, Shop No.1, Ground Floor, Tower- D, Plot No. H - 10B, Sector 98, Noida – 201301 or call us at our 24 X 7 Customer Care no: 0120-4456-456.
Paytm Payments Bank Limited
Process for Re- Activation of Dormant Bank Accounts
To reactivate your dormant bank account, you need to complete in-person verification in any of the following ways:
- Aadhaar based KYC at your Nearby KYC Point: You can find Nearby KYC points by tapping on https://m.p-y.tm/kyc. 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.
- 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. Charges for KYC at your doorstep will be applicable. Else, you may visit the KYC point nearest to your location.
- 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:
- In addition to Aadhaar & PAN, our representative will also click your picture from our authorized KYC Android app. Some additional details around parent & spouse name, occupation and income are also needed as part of CERSAI and RBI guidelines.
- Currently KYC can be done only for Indian citizens, Indian residents and Tax residents of India and of no other country.
- You can choose to use Full KYC for upgrading your Wallet & Opening Savings Account, only upgrading your Wallet or only opening your Savings Account.