Paytm has recently launched their new Services, which they’ll be working as the usual bank. The RBI(Reserve Bank of India), the India’s central banking institution has also recognized this and Approved the Licence for Paytm Approved The Licence.
The services offered Paytm Payments Bank will include Both the Online and Physical services offered by every other offline bank.
- The Paytm customer can now open account with zero balance
- They can do every online transaction (such as IMPS, NEFT, UPI) for free of charge.
- The Physical services include checkbook, demand draft, and debit card at a nominal fee, benchmarked to the industry.
- The Customer can even Earn an interest of 4% per annum.
How To Transfer Your Paytm Wallet Into Paytm Payments Bank ?
For existing Paytm Customers, they don’t have to do anything, their Paytm Wallet accounts will be automatically transferred to Paytm Payment Bank Account from 23rd May onwards. But still the Payments Bank Customer will have to Complete the KYC Process to enjoy the flawless Bank Features. To do that you can use both the onine or Nearbuy Projected Offline Paytm Banks/ KYC Centers.
To use the Payments Bank services, you will get to see the new option “Bank” in the Upcoming update of Paytm App.
To start with Paytm Payments Bank, one has to first Request an Invite from them. For complete info follow the below guide.
How To Convert Your Paytm Wallet Into Paytm Payments Bank Via Invitation?
Paytm Payments Bank Launched on 23rd May 2017 is currently available to join is Limited with Invite System, such that the new user will have to be invited to join the bank.
To Start the Paytm Bank, Follow Below Steps:
First of all click on this link, Join Paytm Payments Bank Here
It’ll take you to a page shown below.
Then click on the ”Request An Invite ” button to get the invite.
That’s all, now they’ll give you a success sign and will Contact You soon asking Necessary Details for Joining the Bank.
How to Opt-Out From Paytm Payments Bank?
If you dislike the Paytm Bank services, then you can easily opt-out from the Bank, you can write a mail to email@example.com
They will review your request and your Paytm Wallet Cash will be transferred to your desired Bank Account. Also you won’t be available with the account features or the wallet option. All the existing Paytm services like shopping, booking services, recharge are continued normally.
That’s all about the paytm bank account and its registrations. If you have any query or doubt or ideas about the topic, please feel free to share it with us.