Paytm Payment Bank Open Savings Account Using Aadhaar Card

paytm payment bank account
1st September 2017 | Category: Mobile Banking Apps

Paytm Payment Bank is available for public users and we can open savings account in the virtual payment bank. An Interesting feature of Paytm Payment Bank is that your registered mobile number will be your account number. The most popular, safe and secure mobile wallet Paytm made digital transactions a successful reality with its easy to use and instant payment method

Also Read: Paytm Debit Card to launch Soon

To access and Use Paytm Payment bank you need to update mobile app to version v6.0.0 available for both Android and iOS. The Payment bank is only available as Mobile App and not on website or any other physical bank. With New Paytm Bank you can earn interest on deposits.The registration for Account in Paytm is simple and you can get banking services from the mobile app.

How To Use Paytm Payments Banks

  • Update the app to Paytm latest version v6.0.0
  • A pop-up message will be displayed from Bank like Welcome, it can also be accessed by clicking on ‘BANK’ icon
  • Now set a Passcode for your bank and also you need to appoint a nominee. Enter the details of nominee
  • Enter your Address, it would be automatically fetched if you have shop from Paytm before.
  • Now enter your Aadhaar Card number
  • After this Paytm will send a representative for KYC requirement

Features of Paytm Payments Banks

  • Paytm Wallet users can transfer to Paytm Payment Bank
  • Paytm wallet amount can be transferred with bank account number and IFSC code
  • Each and Every transaction is free of cost without any extra charges
  • Minimum balance for Paytm Payment Bank account is Zero
  • You will earn 4 percent p.a interest on savings account
  • It offers a virtual RuPay Card for online transactions without any additional cost
  • No charges for 5 ATM withdrawals a month
  • Chequebook, demand drafts, and debit cards, will be available

Limitation of Paytm Payment Bank

With so much services for free and no extra charges, some limitations include that you cannot get loan from the virtual bank and 3 percent will be charged to transfer money from wallet to bank. But with so much attractive and beneficial features they can be over looked Read more and

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