Paytm Payment Bank Limited(PPBL): Paytm is going to start its operations of Paytm Payment Bank from 23rd May 2017. Mr. Vijay Sekhar Sharma who is the founder of Indias biggest digital wallet company said they have already started to notify the wallet users about the move of paytm wallets toward Paytm Payment Bank. After getting certification and license from RBI paytm got the permission to be an authorized bank.
Paytm is going to transfer all the Paytm wallet users account to their bank. From 23rd May 2017, all the format of the paytm wallet is going to change. Now the wallet money will be reflected into Paytm Payment Bank Wallet. Mr. Vijay Shekhar Sharma also said that if the customer doesn’t want to opt for the Payment Bank they can send a mail to the paytm helpdesk.
Step For Not Opting Paytm Payment Bank:
- Login your Paytm Wallet app.
- Open Customer Care icon.
- Now send an email to [email protected]
- They will ask for your saved card IFSC code and pan card number send them that.
- After this they will give 15 days within that you have to transfer your money to the personal bank.
Paytm Payment Bank Details:
Paytm payment is a conversion of paytm digital wallet. After the demonisation of Rs 500 and Rs 1000 paytm wallet raised as the biggest E-wallet. That time paytm got a huge amount of users and therefore they got the permission to establish themselves as a Bank. RBI has already certified Paytm to become a licensed bank. Before they were going to launch their bank from January 2017. But now they are going to start their operations from 23rd May 2017.
Paytm Payment Bank Ltd have saving limits of Rs 1 Lac from a customer. They also give saving interest on depositing the money to their bank. The expected Interest rate is 14.4% till now. They will also issue chequebook, debit cards both physical and virtual.
How To Open Bank Account In Paytm Payment Bank:
If you want to open your account to PPBL( paytm payment bank limited ). Then you have to fill some formalities. You to apply for KYC documentation. Then after completing verification from PPBL, your account will be opened. They will facilitate their account holder with a virtual debit card, Passbook, and chequebook.