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Paytm Payments Bank deadline: Full list of services you can't use after March 15
Paytm Payments Bank March 15 deadline: Here's a list of services that cannot be availed by customers as per RBI:
Published on: Mar 13, 2024, 07:31:36 IST
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The Reserve Bank of India has stopped Paytm Payments Bank Ltd (PPBL) from accepting fresh deposits or top-ups from March 15, 2024. The central bank cited consistent non-compliance and material supervisory concerns in its decision but released a set of Frequently Asked Questions (FAQs) to provide Paytm customers with information on the restrictions that have been put by it on Paytm Payments. Here's a list of services that cannot be availed by customers as per RBI:
Read more: Paytm Payments Bank deadline: Services you can use after March 15
- Top-up or transfer money in wallet: You will not be able to top-up or transfer money into the wallet. You will also not be able to receive any credits, cashbacks or refunds. Read more: Paytm FASTag: Can I continue to use it to pay toll? Check RBI FAQs for customers
- Receiving money from other person in wallet: You will not be able to transfer money into the wallet or receive money from another person in the wallet.
- Transfer money into Paytm Payments Bank account: You will not be able to deposit money into your Paytm Payments Bank account as no credits or deposits are allowed to be credited.
- Salary credit in Paytm Payments Bank: You will not be able to receive any credits like salary into your account with Paytm Payments Bank. Read more: Paytm Fastag Deactivate: How to do it, a step by step guide for you
- Subsidy or direct benefit transfers: You will not be able to receive subsidies or direct benefit transfers into your account with Paytm Payments Bank.
- FASTag: You will not be able to top-up or recharge your FASTag which has been issued by Paytm Payments Bank. Read more: Paytm invalid for FASTag: These are 32 authorised banks you can use
- Transfer balance from old FASTag issued by Paytm Payments Bank to a new FASTag: This will also not be available. Therefore, customers will have to close their old FAStag issued by Paytm Payments Bank and request the bank for a refund before March 15.
- Transfer money into my Paytm Payments Bank account through UPI/ IMPS: You will be unable to transfer money into your Paytm Payments Bank account after March 15.
