Paytm Released Frequently Asked Questions:
Paytm QR & Sound Box:
Question: Will my Paytm QR code, Paytm Soundbox or Paytm Card Machine continue to work?
Yes. Your Paytm QR, Soundbox, Card Machine will continue to work as always.
Paytm Wallet:
Question: Can I continue to use Paytm Payments Bank Wallet?
Yes, you can continue to use, withdraw or transfer to another wallet or bank account until balance is available in the wallet. Please note you will not be able to make any deposits in same after March 15, 2024, however all refunds and cashback can still be credited to your wallet.
Paytm Payments Bank:
Question: Is my money safe in Paytm?
The Reserve Bank of India (RBI) has issued a directive restricting Paytm Payments Bank Account / Wallet from accepting new deposits or allowing credit transactions after March 15, 2024. However, there is no restriction on withdrawal of money from your existing balance even after March 15, 2024.
The directive does not impact your existing balances in account or wallet and your money is safe with the Bank.
Recharge & Bill Payments:
Question: Can I continue to use Paytm to do recharges and pay my bills?
Yes, absolutely! You can continue using Paytm app for all your bill payments and recharges, like always.
Rest assured, Paytm continues to support a wide range of payment options for your convenience.
Ticket Booking:
Question: Will I be able to continue booking tickets? (travel, movies etc.)
All other services on Paytm app are unaffected, you can continue to use them on Paytm as usual.
FASTag & NCMC Card:
Will I be able to use FASTag / NCMC Card issued by Paytm Payments Bank?
Yes, you can use the FASTag / NCMC Card issued by Paytm Payments Bank. However you will not be able to recharge or add money to the same after March 15, 2024.
You can either use the amount or close your FASTag / NCMC Card issued by Paytm Payments Bank and request the bank for a refund.
Source:
Paytm Updated: https://paytm.com/important-updates
RBI Press Release: https://rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=57376
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Parinita Sharma
Parinita Sharma is a Certified Financial Planner (CFP) & FS, CS, MDI, PG. She is a member of team Advey. Team Advey is associated member of LIC of India with 100 Professional partners. From last 30 year we are assisting 50,000 families to fulfil their Financial Dream in guaranteed way. At present we are managing the Risk cover of more than Rs.6000 Crore. We are providing need base Solution through financial planning. To Know more about our provided services click on given link... http://mydc.in/?a=7003729563-7 Email: parinitasharma59@gmail.com