Paytm Payment Bank Starts Offering Physical Paytm Debit Cards
Paytm has announced the launch of physical Paytm debit cards for its Payments Bank account holders. This service has received a new iOS App update for Paytm users. This was recently made available for Android platform.
If users want to request a physical debit card, then they’ll first need to create Paytm Payments Bank accounts. They can create that from their Paytm login ID and password.
To avail standard banking services on Paytm Payments Bank, they will need to verify eKYC details. There is no minimum balance limit on the account. But there is a maximum limit of 1 lakh. After opening Paytm bank account, customers will be provided a digital RuPay debit card for online transactions.
How to request a physical Paytm debit card
- Launch Paytm App (iPhone)
- Tap on the ‘Bank’ icon at the bottom right corner of the screen
- Scroll down and choose ‘Debit & ATM Card’
- Choose the option ‘Request ATM Card’
- Select delivery address and click on ‘Proceed to Pay’
- Complete the payment on the payment mode and order will be placed
- Buyers will be able to track the delivery status of their card through the Paytm App
This new feature was introduced on the sidelines of BHIM UPI rollout for iOS devices. BHIM UPI integration is already available for Android.
To use BHIM UPI, customers will need to create a Virtual Payment Address (VPA) first, and then link it to any eligible bank. After this, they can transfer money to other bank using BHIM UPI on Paytm. This feature doesn’t require having a Payments Bank account.
Details on the charges for the Paytm physical debit card
- Initial charge to get a Paytm debit card: Rs. 120
- To get a duplicate debit card: Rs.120
- Maximum transaction per day at an ATM: Rs. 25,000
- Maximum transaction per day at a POS: Rs. 2,00,000
- Free ATM transactions per month: 3 in metro cities and 6 in non-metro cities
- Charges after the free transaction: 20/withdraw and Rs. 5/balance check or mini statement (which can be done for free of cost for n number of times online).
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