Paytm payment bank account opening : The country’s largest digital payment mobile app Paytm made its payments bank available to everyone last month. Earlier, after its launch in May, Paytm Payments Bank was in beta phase. Like any other bank account, users can open a savings account in Paytm Payments Bank.
The country’s most popular digital payment platform Paytm opened its payments bank for everyone last month. Earlier, Paytm Payments Bank was in beta phase since its launch in May. At the time of launch, users could sign up only through an invite based system. But now, like any other bank account, users can open a savings account in Paytm Payments Bank.
We will tell you how you can open your account in Paytm Payments Bank? The process of opening a savings account in Paytm Payments Bank is very easy. And the best thing is that for this you do not need to go anywhere, the account is opened sitting at home.
Paytm payment bank account opening Online
- First of all you have to download the latest version of your Paytm app.
- After this open the app and then click on the bank account icon.
- Now read the terms and conditions carefully and then tap to proceed further.
- Set the passcode and then confirm.
- After this enter your Aadhar card number and proceed.
- After giving all the necessary information, you will have to name a nominee or you can also choose the option of “I don’t want to add a nominee”.
- After this you will have to enter your address. If you have purchased from Paytm, the already stored address will be visible or you can also enter a new address.
Benefits of Paytm Bank Account
Paytm says that there will be no transaction charges for any electronic transfer (including UPI) from a bank account. According to Paytm’s website, if you need to transfer money from your Paytm wallet to the bank, you will have to pay a fee of 3 percent. Apart from this, physical facilities like chequebook, demand draft and debit card will also be made available at very low charges.
One of the most special features of Paytm Payments Bank is that as per the terms and conditions, free insurance of up to Rs 2 lakh is available in case of death or permanent disability
Method of depositing money in savings account
First method : You can get your account information by going to ‘Add Money’ and then select ‘Savings Account’. Now, you can transfer money to your Paytm bank account through IMPS or NEFT by going to the app of another bank account.
Second method : Visit your nearest Paytm branch and deposit cash in your savings account. Currently there is only one flagship branch of Paytm Bank account.
Paytm is not launching its own ATM. However, its debit card can be used up to five times at non-metro ATMs without paying any charges, and three times at metro city ATMs. After this, every time you withdraw cash, you will have to pay a fee of Rs 20, while for other transactions like checking balance, you will be charged Rs 5
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