Paytm Payments Bank Account, How to open paytm payments bank account, How to activate Paytm Bank: Paytm finally got the approval from RBI to open their Paytm payments bank. From now on all the transactions will be done through Paytm bank, they are also transferring the whole paytm wallet money to their bank on 23rd May. As we all know paytm is operated under one97 communications and now they are opening paytm payments bank to get the more users. Here is how to open paytm payments bank account and everything you need to know about paytm payments bank account.
How to Open Paytm Payments Bank Account:
As mentioned earlier paytm wallet money will be transferred directly to paytm payments bank, in order to open a new paytm payments bank account you should follow below steps. Although this isn’t a regular bank but you can still get the virtual credit card and cheque book.
Steps to Open Paytm Payments Bank Account:
- Let paytm transfer your wallet money to paytm payments bank
- Then your account will be created automatically on your mobile number.
- In case if you have done the e-KYC activation for paytm wallet then your Paytm Bank account will be activated automatically
- If not just opt for e-KYC activation of Paytm Payments bank
- Within 1 or 2 days you will get Paytm Bank account
Paytm Payments Bank Account Requirements:
Although it’s not a regular bank account but there are still some requirements, where the maximum transaction limit has been set to 20,000 Rs for normal users and 1,00,000 Rs for VIP users. Which means the user can only do the maximum of 1 lakh worth transactions in a month. User can’t keep more than 1 lac at a time and here are the list of paytm payments bank account requirements.
- Your paytm wallet account should be more than 6 months old.
- If your paytm wallet balance is zero then they won’t transfer the amount to open paytm payments bank account.
- In case if you haven’t performed any transaction from paytm wallet from last 6 months,
- then also you won’t get the paytm payments bank account.
How to Activate Paytm Payments Bank Account:
The functionality of new paytm payments bank account is similar to Paytm Wallet, where the user can deposit and withdraw money directly. Here you can read more about how to deposit money to paytm payments bank account..? The activation process is also same as wallets, we are giving you the 5 simple steps to activate paytm payments bank account.
Steps to Activate Paytm Payments Bank Account:
- Without activation, you won’t get any paytm Debit card and Cheque book.
- To activate Paytm bank account you must complete e-KYC activation.
- So just open the Paytm app and schedule e-KYC activation at your home step.
- Paytm representative will come to your home and you just need to submit an id proof
- Complete the e-KYC with a single thumbprint and your account will be activated soon.