Can you continue to pay utilizing your Paytm FASTag?
These FAQs deal with the minimal quantity obligatory in FASTag accounts and the way safety deposits are reimbursed
Paytm Payments Bank Ltd (PPBL) launched an inventory of regularly requested questions (FAQs) for its customers on Friday. These FAQs deal with the minimal quantity obligatory in FASTag accounts and the way safety deposits are reimbursed. The FAQs state that from March 15, Paytm Payments Bank will now not settle for deposits or high-ups for FASTags. The Reserve Bank of India (RBI) notes that customers utilizing PPBL FASTags can nonetheless utilise the funds of their accounts to pay tolls after March 15.
Can you withdraw cash out of your Paytm Payments Bank financial savings or present account after March 15, 2024? Can you proceed to make use of the Paytm Payments Bank debit card that you just had been issued?
As per the financial institution, after March 15, 2024, the RBI will now not settle for new deposits into the Paytm Payments Bank Account or allow credit score transactions. Up to the obtainable quantity in your account, you should still use, withdraw or switch cash from it. Likewise, you possibly can hold making withdrawals or transfers utilizing your debit card as much as the quantity that’s obtainable in your account.
After March 15, 2024, would it not nonetheless be potential to deposit or switch funds into your Paytm Payments Bank present account or financial savings checking account?
After March 15, 2024, Paytm Payments Bank isn’t permitted by an RBI mandate to soak up new deposits or course of credit score transactions. Crediting is allowed for cashback, curiosity, sweep-ins from accomplice banks, and refunds although.
If your wage is credited to your Paytm Payments Bank account, can you continue to get it there?
You are free to spend, withdraw or switch cash out of your account as much as the obtainable quantity, in line with the financial institution. However, to be able to assure a seamless transition and forestall any difficulties, it’s suggested that you just make alternate preparations with a unique financial institution by March 15, 2024.
Can you continue to get authorities subsidies or sure direct profit funds into your Paytm Payments Bank account which can be linked to your Aadhar?
Only the obtainable stability could also be used, withdrawn, or transferred out of your account. It is necessary to make alternate preparations with a unique financial institution by March 15, 2024.
Can you proceed to pay your month-to-month OTT subscription mechanically through UPI out of your Paytm Payments Bank checking account?
Automatic UPI mandates for withdrawals or debits will proceed so long as your account has adequate funds.
If you’re to obtain a reimbursement within the account that you’ve got with Paytm Payments Bank after March 15, 2024, will that refund get credited to your account?
Sure. Even after March 15, 2024, refunds for transactions comprised of wallets, financial savings accounts, present accounts, cashbacks, sweep-ins from accomplice banks, and curiosity are allowed credited into your Paytm Payments Bank Account.
Can you retain making automated funds of your mortgage’s installments (EMI) utilizing your Paytm Payments Bank account?
Mandates for withdrawals or debits, comparable to these from the National Automated Clearing House (NACH), shall be carried out till your account stability is exhausted.
Can you proceed to have your mortgage’s automated month-to-month funds (EMI) made utilizing a checking account apart from Paytm Payments Bank?
EMIs which can be registered with banks apart from Paytm Payments Bank are nonetheless eligible to be paid.
