Cellular | Can you continue to pay on instruments utilizing your Paytm FASTag? Paytm Funds Financial institution Solutions

Cellular | Can you continue to pay on instruments utilizing your Paytm FASTag? Paytm Funds Financial institution Solutions


Paytm Funds Financial institution Ltd (PPBL) on Friday launched an inventory of Incessantly Requested Questions (FAQs) for its clients. These FAQs handle the minimal quantity required in FASTag accounts and the process for withdrawing safety deposits. The FAQs state that from March 15, Paytm Funds Financial institution is not going to settle for deposits or top-ups for FASTags. The Reserve Financial institution of India (RBI) notes that clients utilizing PPBL FASTags can use the funds of their accounts to pay the toll even after March 15.

Are you able to withdraw cash out of your Paytm Funds Financial institution financial savings or present account after March 15, 2024? Are you able to proceed to make use of the Paytm Funds Financial institution Debit Card that was issued to you?

In accordance with the financial institution, after March 15, 2024, RBI will not settle for new deposits or enable credit score transactions within the Paytm Funds Checking account. As much as the quantity accessible in your account, you’ll be able to nonetheless use, withdraw or switch cash from it. Equally, you’ll be able to proceed to make withdrawals or transfers as much as the quantity in your account utilizing your debit card.

After March 15, 2024, will it nonetheless be doable to deposit or switch cash to your Paytm Funds Financial institution Present Account or Financial savings Financial institution Account?

After March 15, 2024, Paytm Funds Financial institution isn’t allowed to take new deposits or course of credit score transactions by RBI order. Crediting is allowed for cashback, curiosity, swap-in from accomplice banks, and refunds.

In case your wage will get deposited into your Paytm Funds Checking account, are you able to entry it there?

In accordance with the financial institution, you might be free to spend, withdraw or switch cash out of your account as much as the accessible quantity. Nonetheless, to ensure a seamless switch and keep away from any hassles, it’s suggested that you just make various preparations with one other financial institution by 15 March 2024.

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Can you continue to obtain authorities subsidy or some direct profit funds linked to your Aadhaar in your Paytm Funds Financial institution Account?

Solely the accessible stability out of your account can be utilized, withdrawn, or transferred. Different preparations should be made with a special financial institution by March 15, 2024.

Are you able to proceed to pay your month-to-month OTT subscription by way of UPI robotically out of your Paytm Funds Financial institution checking account?

The automated UPI mandate for withdrawal or debit will proceed so long as there are ample funds in your account.

If it’s important to get a refund in your account with Paytm Funds Financial institution after fifteenth March 2024, will the refund be credited to your account?

After all even after 15 March 2024, refunds for wallets, financial savings accounts, present accounts, cashbacks, swap-ins from accomplice banks, and curiosity transactions are allowed to be credited to your Paytm Funds Financial institution Account.

Are you able to proceed to pay your mortgage installments (EMI) robotically utilizing your Paytm Funds Checking account?

Mandates for withdrawal or debit, resembling from the Nationwide Automated Clearing Home (NACH), shall be processed till your account stability is exhausted.

Are you able to proceed your automated month-to-month compensation (EMI) of your mortgage utilizing a checking account apart from Paytm Funds Financial institution?

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  • EMIs registered with banks apart from Paytm Funds Financial institution are nonetheless eligible to be paid.

    First Publication: March 18, 2024, 10:22 IST

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