Paytm Payments Bank: Deadline Ending Soon, Know What Services You Can Use After March 15

Withdrawal Of Money

As per RBI’s guidelines, Paytm Payments Bank is barred from accepting fresh deposits or top-ups from March 15. However, there is no restriction on withdrawal of money from your existing account even after March 15, 2024.

Use Of Debit Cards

The directive does not impact your balance and debit card can be used to withdraw cash from your bank account.

Automated Deductions Of Bills

If there is balance in your account and have debit/withdrawal mandates such as National Automated Clearing House (NACH), then it will continue. However, you will not be to credit or deposit in your account.

EMI Of Loan

The EMIs that are registered with the Paytm Payments Bank will continue as per directive issued by RBI.

Paytm Wallet Money

The RBI’s directive does not impact the existing balance in the account. User can continue using the withdrawal service and balance available in the wallet.

Refunds and Cashbacks

Refunds and cashbacks will be allowed after March 15, 2024.

FASTags

The user can continue to use your FASTag to pay at enabled toll and parking merchants’ up to the available balance in your wallet. However, no further funding or top ups will be allowed in the FASTags issued by Paytm Payments Bank after March 15, 2024.