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Can we do online transactions without OTP?This means, that from now, all digital transactions below Rs 2000 can be done without any need for OTP. Currently, when you make a transaction, and after you have given the card details on the merchant website, you need to enter an OTP that is sent to your registered mobile number before the transaction gets through. Dec 7, 2016Now, No OTP Required For Sub-Rs 2000 Online TransactionsBy Mohul Ghosh Last updated Dec 7, 2016[Demonetisation and cashless push are inspiring both public and private entities to take some big, bold and crucial steps to encourage digital transactions and to ease the inconvenience of lack of currency notes in circulation. Now, to make it easier for the general public to make smaller payments, the Government has done away with One Time Password (OTP) authentication required for online transactions amounting to less than Rs. 2000.No OTP For Sub-Rs 2000 Online TransactionsIn a major relief for cashless shoppers, Reserve Bank of India has removed the two-step authentication protocol for sub-Rs 2000 transactions. This means, that from now, all digital transactions below Rs 2000 can be done without any need for OTP.Currently, when you make a transaction, and after you have given the card details on the merchant website, you need to enter an OTP that is sent to your registered mobile number before the transaction gets through. However, going forward that will not be the case. Going forward, customers will go through a one-time registration process with Visa Checkout and Mastercard’s Masterpass, requiring entry of card details and additional factor authentication by the issuing bank.Once the one-time-registration is done, card details entered by the customer will act as the first-factor authentication, while the network provided password will serve as 2nd-factor authentication!In this new scenario, the payment network (Visa/MasterCard/RuPay) itself authenticates the transaction, and hence the customer can complete the transaction without leaving the merchant’s website.Last year, RBI had also removed the requirement of OTP for those sub-Rs 2000 transactions which were conducted using NFC technology.Removal of the requirement for OTP for low-value transactions will save a lot of time, and remove the hassles for the digital citizen. Besides, this also good news for payment processing and card payment companies like Visa and MasterCard and Govt. backed RuPay users, as now they can easily pay for cab rides, online shopping and more without encountering the hassles of OTP for below Rs 2000 transactions.Amit Jain, president, Uber India, said, “This waiver is a big leap in the right direction to bring ease and convenience to the use of cards over cash and will strengthen the foundation for India to become a leading digital economy.”While Paytm founder Vijay Shekhar Sharma said, “It will increase consumer convenience so that they use cards more often. A larger number of users will be able to do digital transactions after this.”As per experts, this move will also bring down failure rates among low-value online transaction]Can credit cards be used without OTP?Is it true that payment can be made from a credit card without PIN or OTP? Yes. There is no need for PIN/OTP or any other type of password to make any payment from any credit card. To know the reason we need to understand the process of the payments through credit cards. Jan 19, 2019Your credit card can be used for payment without PIN or OTP, a must-read informative blogByNeerajLast modified 19 Jan 2019[If you own a credit card and believe that without asking PIN or OTP money cannot be paid or deducted from your credit card then it is an eye-opener blog for you.One incident happened with my friend which forced me to write this blog.He was out for lunch with his family and after having lunch, he offered his credit card for payment.The waiter took his credit card and just touched the card to the swipe machine and gave the card back to my friend.Since the credit card was secure with 4 digit PIN so he was waiting to enter the PIN but when the waiter gave the card back to him then he asked to the waiter “What happened?My card did not work? "The waiter replied" No Sir, it's perfectly alright.Payment has been made, please keep the payment receipt ”.He was stunned and shocked.How is it possible that the money has been deducted from the credit card without asking the PIN?As I am working in the banking sector so it was not surprising for me but a majority of peoples thinks the same way as my friend did.Here, I will explain to you the reality of the credit card payment process which is a must to know to keep your money secure.Is it true that payment can be made from a credit card without PIN or OTP?Yes.There is no need for PIN / OTP or any other type of password to make any payment from any credit card.To know the reason we need to understand the process of the payments through credit cards.Though I am not going in much technical detail but will explain and provide you the sufficient information which is a must to know.What happens when you hand over your credit card to the seller for the payment of your purchase?The seller swipe your credit card to the card reader device and then your card details go to the payment gateway and payment gateway sends the details further to the card association or payment network (Visa or Master card or any other company depends on your card), further after verification of the card, this information passed to the bank of the customer (bank which has issued the card) and then the bank either approves or declines this transaction and then this approval or rejection goes back to the seller in the reverse direction through the same channel.As you can understand, the below four parties are involved while processing your credit card for paymentSeller (called merchant) who is swiping your card to the card reader devicePayment gatewayCard association or payment networkCustomer bank or credit card issuing bankLet's understand about these four parties one by one.Merchant or SellerThis is the owner of a product or service which product or service you are purchasing and then making payment.This can be a restaurant or an online shopping portal or any other website which accepts credit card for bill payment.The merchant decides which payment gateway to choose.Since the payment gateways services are not free so merchants or sellers can take the services of any payment gateway which is suitable to their business needs.The seller has to register itself to the payment gateway so that the gateway recognizes the merchant and keeps a reference of this merchant in the transactions made by a particular merchant.There is one more step that needs to complete to the seller or merchant before the payment gateway and that is to get a merchant id from an acquiring bank.An acquiring bank is the facility provider who releases the payments to the merchant when a successful transaction takes place.When a seller applies to open a merchant account in an acquiring bank, the bank verifies the seller application carefully to determine the associated risk with the seller.If everything found fine then the bank opens the account and shares the unique merchant id with the seller.So after getting a merchant id from an acquiring bank and purchasing the service of a payment gateway, the seller or merchant is ready to get the payment through credit cards.Payment gatewayA payment gateway is responsible to process and authenticate the credit card. When the merchant swipes the credit card to the card reader machine or device then the card details (16 digits credit card number, expiry date, CVV, etc.) go along with the merchant ID to the payment gateway.Payment gateway identifies the card network (Visa, master card, etc.) by reading the credit card number and sends the card details to the card network.At this point, the Payment gateway to get which type of security applied to the credit card.What is 2D and 3D Security?2D secure credit card means only the information present on the credit card will be asked for authentication.3D secure means were other than the information present on the credit card, some more information required to authenticate which is not written in the credit card.Asking the PIN or OTP is the type of 3D secure authentication.So in 2D secure authentication, you will be asked for CVV or expiry date, etc.to authenticate the credit card and in 3D case PIN or OTP is asked.Now here is the main point.The card association or payment network (brand of credit card Visa, Master card, etc.) keeps the information on what type of security applied to the credit card and exchanges this information with payment gateway but to implement this security is the responsibility of the payment gateway only.So when you receive an OTP on your mobile or PIN is asked then this work is done by the payment gateway.Since the Payment gateway has to verify that the payment is being made by the credit card owner so it is up to the payment gateway to verify or not to verify.Please note, customers or credit card issuing banks do not send the OTP or ask PIN or verify through any other type of authentication method.The credit card issuing bank approves the payment request when it gets the credit card number and expiry date.There are thousands of payment gateways running across the world and no common rules and guidelines are set which can assure that credit card real owner is using the card.RBI (Reserve bank of India) has forced to all the payment gateways which are working in India to follow the 3D secure guidelines so if you are making payment in India then OTP or PIN (or any other authentication method) is required for the credit card payment.But in India too, there are many places where money can be deducted without the PIN or OTP.I will explain the reason in the upcoming section.Card association or payment networkThis is the network or association of all the credit or debit card brands active across the world and facilitates the transaction or payment between different banks and merchants.The card network keeps the complete information about the credit or debit card and this information exchanged with the payment gateway.For example, if you have a VISA credit card with 3D secure enabled then the VISA knows about it and exchange this information with payment gateway.Once the payment gateway completes the authentication process (however payment gateway can skip the authentication but if not skipping), it sends the details to the card association for further action.Card association then performs its validation activity and sends this payment request to the issuing bank.Customer bank or credit card issuing bankThe card association or payment network sends the payment request to the customer bank.Customer or card-issuing banks only need the credit card number and expiry date and based on this two information they approve or decline the transaction.Issuing bank performs some basic checks like credit limit are not exceeded or customer is paying the dues and if found okay, the customer bank approves the transaction.Once the customer bank approves or declines the payment, this information travels back to the merchant and acquiring bank in the reverse order.Here one point needs to know, when the customer bank approves the transaction, it is not transferring the money.The merchant and its acquiring bank get the approval message and based on these messages, it is assumed that they will get the money.The settlement of money takes place on the next day.The acquiring bank collects the reference number of all the approved transactions and sends it to the customer bank.The whole process takes 2-3 days.Why payment gateways do not ask the PIN or OTP for credit card payment when the credit card is 3D secure?Now we have the clarity that only the payment gateway is responsible to ask for PIN or OTP and payment gateway is chosen by the seller or merchant.We also know that the customer or card issuing bank need only credit card number and expiry date to approve the payment.Since in India, RBI has forced the 3D secure authentications so almost all payment gateways follow this rule strictly but still there are cases where payment can be made without PIN or OTP.In the below cases you may not be asked to enter PIN or OTP-If the credit card is Wi-Fi enabled and the amount is below a certain limit (in most cases Rs. 2000) then PIN or OTP is not required.If you had earlier entered your credit card details to any online shopping portal or any other websites and your payment is due or making the current payment then payment gateway can deduct the money without PIN or OTP.If you are making payment to non-Indian service provider then PIN or OTP authentication may not be asked.The above are the known reasons for skipping the 3D secure authentication by the payment gateway but there may be other reasons or cases as well.Do not panic!Your money will be refunded by the bank if unwanted payment was made or there was a fraudulent transaction done.In today's world, there are possibilities of fraudulent or misuses of credit cards so the government or reserve bank of India has set some guidelines for a bank to safeguards the customers.If you file the complaint within 24 hours of the misuse of your credit card then the bank will refund you the full amount.If you come to know the misuse after 24 hours or for any reason could not able to file the complaint within 24 hours then still you will get a refund but chances are that partial amount will be refunded by the bank.Does it happen in India only or other countries follow the same rule of processing the credit card?The credit card authentication process is almost the same for all the countries but it differs in some ways.The payment gateways role is the same and it's mandatory to keep the payment gateway in between the transaction between seller and customer bank.In the United Kingdome (England), a 3D secure system is running like India but in the USA AVS is in use.AVS's full name is address verification system and payment gateways use this method to verify the valid use of credit cards.In the Address verification system, a part of the address is mainly zip or postal code is asked to verify.If the address or zip code matched with the billing address then it is assumed a valid payment.However the address verification system is not limited to verify the address only, there are other methods and a proper review system exists so that no fraudulent transaction takes place.What to do to prevent the credit card from unwanted or unauthorized payments?Take care of the below activities to prevent unwanted or unauthorized payments.If you have a Wi-Fi enabled credit card then convert it to the non-Wi-Fi credit card. You can call your bank to convert it to a non-Wi-Fi card and within 1 week you will get a new card. It will resolve the problem of an auto deduction of less than rupees 2000.Do not select the option " Save your credit card details for fast payments in future" while making any payment to any shopping website. Never do this mistake. Once you select this option, in the future, if you make any purchase from that website then you will not get any PIN or OTP to enter. In the first view, this seems to be a very handy facility but it can cause a lot of problems.Be extremely careful while doing payment to foreign websites or shopping portals. Since they are not bound to RBI guidelines so foreign payment gateway deducts money without any PIN or OTP.There are websites that claim to provide you the service free but ask you to enter your credit card details to check your seriousness. They claim that they will never charge any amount. Never submit your credit card details to these websites. These types of websites are found when you search for free content like free movie download, free songs download or free software or eBook download.Never share to anyone or enter your credit card number to any website with thinking that credit card number is useless without CVV or PIN or OTP.ConclusionYour 16 digit credit card number is itself sufficient to make any payment.Even the CVV number has no value and not required for payment.Since the credit card issuing bank gives approval of payment on the basis of the credit card number and expiry date only and does not ask CVV, PIN, OTP or any other type of authentication so leave this thinking that whenever any payment will be made my bank will verify the same.]

HDFC Bank Regalia Credit Card now comes with Enhanced Benefits.Add to your album of lifetime memories with luxury that indulges you in new experiences, when you travel, dine out, or simply choose to get entertained.So start indulging with the HDFC Bank Regalia Credit Card.PREMIUM TRAVEL AND LIFESTYLE PRIVILEGESANNUAL SPENDS BENEFIT NEW1. Earn 15,000 Reward Points on annual spends of Rs. 8,00,000 or more in each anniversary year*2. Earn 10,000 Reward Points on annual spends of Rs. 5,00,000 or more in each anniversary year**Important Terms and Conditions of Annual spends benefit programEarn 10,000 Reward Points when you achieve spends of Rs. 5,00,000 in anniversary year and additional 5,000 Reward Points when you achieve Rs 8,00,000 in the same anniversary year.Anniversary year is defined as 12 months period from card setup or last upgrade/downgrade date. For ex: if your card setup/upgrade/downgrade date is 01st May 2018, anniversary year will be 1st May 2018 to 30th April 2019 and so on.This benefit is applicable w.e.f. 01st April 2018 only and any spends done before 01st April 2018 will not be considered for this benefit. For Ex: if your card setup date is 01st December 2017, Retail Spends between 01st April 2018 to 30th November 2018 will be considered for this benefit for the first anniversary cycle. From second cycle onwards all retail spends between 01st December 2018 and 30th November of subsequent year will be considered for the benefit.In case of any retail card getting upgraded or downgraded to Regalia post 01st April 2018, the Spends calculation for annual spend benefit on the new Regalia card variant will start from date of upgrade/downgrade. (If there was a spend aggregation benefit applicable on the old variant, then customer will no more be eligible for the feature on the previous product)Spends from any previous anniversary year or previous retail credit card product will not be considered for calculation of the Annual Spend benefit. Only valid Retail spends are considered for the program and posting of the Reward Points would be at the discretion of the Bank.Reward points are valid only for 2 years from the date of accumulation.Cardholder/s whose account has been classified as delinquent before or during the currency of the Program, or when the Reward Point is to be posted, will not be eligible for the Reward Point under this offer.Airport Lounge AccessPriority Pass MembershipGet a complimentary Priority Pass Membership for preferential access to over 1000+ airport lounges around the world. Enjoy refreshments and use facilities including phones, faxes, and Internet and conference rooms. The Add on member is also eligible for a Priority Pass membership. The Primary cardholder and the Add on member can jointly avail 6 complimentary access to Priority Pass lounges outside India in a calendar year.Please note:All Lounge visits within India using priority pass will be charged at US $27 + GST per person per visit as applicable w.e.f. 25th May 2017Lounge Visits outside India exceeding the complimentary visits will be charged at US $27 + GST per person per visit as applicable w.e.f. 25th May 2017All guests visits using Priority pass would be charged at US $27 + GST per visit per guestCharges will be billed to your credit card statement usually within 90 days of the month in which you visited the lounge.Any lounge visits out of priority pass network will be chargeable as per the discretion of the respective loungesPrimary and add on priority pass member can jointly enjoy the complimentary cap on priority pass (add on to swipe their own priority pass to avail the complimentary benefit)The dollar conversion rate will be applicable as per the prevailing rate on billing dateVisit www.prioritypass.com for list of lounge details.To know about your lounge access historyPlease write a mail to [email protected]. Please provide name, complete 18 digit Priority Pass number and state that PP Membership is via HDFC Bank program. If there is more than 1 Priority Pass number (belonging to add on PP holders), then please provide all the PP Numbers.Visa/MasterCard Lounge Access ProgramFor Lounge visits within India, Regalia Primary Cardholders can avail 12 complimentary lounge access per calendar year through Regalia Visa/MasterCard Credit Card Lounge program (Please swipe your Regalia Credit card to avail the complimentary lounge access). Below are the links for Credit card lounge access T&C and lounge listPlease click here to know more about VISA lounge program (A transaction fee of Rs. 2 will be charged to your credit card for the lounge access)Please click here to know more about MasterCard lounge programContactless Payment TechnologyThe HDFC Bank Regalia Credit Card is enabled for contactless payments, facilitating fast, convenient and secure payments at retail outlets.To see if your card is contactless, look for the contactless symbol network on your Card. You can use your card to make quick transactions at merchant locations accepting contactless cardsPlease note that in India, payment through contactless mode is allowed for a maximum of Rs. 2000 for a single transaction where you are not asked to input your Credit Card PIN. However, if the amount is higher than or equal to Rs. 2000, the cardholder has to enter the Credit Card PIN for security reasons.Complimentary Zomato Gold Membership:Regalia card holders enjoy complimentary Zomato Gold Membership that provides special privileges like -One complimentary dishUp to two complimentary drinks every time you dine at, or hit the bar at more than 4000 partner restaurants across India.Visit www.zomato.com/gold for list of participating restaurants across top cities in India.Eligibility:Regalia cardholders both fresh & upgrade onboarded on or after 20th March 2019 and have spent 75,000 within first 90 days from card set up date are eligible for this membership.Note :The Membership is applicable for Primary Card holder only and it has 1 Year Validity.Existing Regalia cardholders i.e. those sourced before 20th March 2019 will not be eligible for the membership.Existing Zomato Gold members, already having full membership plans, can send a mail to [email protected] with their membership id and the promo code received by HDFC, post which Zomato shall extend the membership of such members(as applicable by the plan chosen) within 72 hours. Please note, this offer is not applicable for users on existing weekday plansClick Here more detailsEXCLUSIVE DINING PRIVILEGESYour Regalia Credit Card entitles you to Exclusive Dining Privileges at premium restaurants. Enjoy complimentary delights and savings each time you present your HDFC Bank Regalia Credit Card.Click Here to discover the privileges.BEST-IN-CLASS REWARDS PROGRAMMESplurge to your heart’s content with the best-in-class rewards programme on your HDFC BANK Regalia Credit Card.Earn 4 Reward Points* for every 150 spent on your HDFC Bank Regalia Credit CardAccumulate and redeem Reward Points for:- Travel bookings on www.hdfcbankregalia.com (Value of Each Reward Point is worth Re 0.50 when redeemed on www.hdfcbankregalia.com )- Exciting gifts from an exclusive rewards catalogueAlternately, you can convert Reward Points into AirMiles of leading domestic and international airlines.*Note:Only valid Retail purchases qualify for Reward pointsReward points will not be accrued for fuel transactionsReward points are valid only for 2 years from the date of accumulation. Eg : If you have received reward points in the month of June 2015, then same will expire in June 2017.Terms and Conditions Apply.PREFERENTIAL FINANCIAL BENEFITSEnjoy lowest foreign currency markup of 2% + GST on all your foreign currency spends1% fuel surcharge waived off on fuel transactions.(Minimum transaction of INR 400 and maximum transaction of 5000. Maximum cash back of INR 500 per statement cycle). Fuel surcharge varies from 2.5% to 1% of fuel transaction amount. The rate of surcharge may vary depending on the fuel station and their acquiring bank. GST applicable.Enjoy up to 50 days of interest free credit and manage your payments at your convenience. You can choose to pay only the minimum amount due (5% of total amount due subject to a minimum of Rs. 200) and carry forward the balance amount to next month at an extremely low interest charge of just 3.49% + GST per month.TRAVEL CONCIERGE SERVICESAs an HDFC bank Regalia Credit Card customer, you can customize your travel experiences with our Travel Concierge Assistance. The next time you need to make airline reservations or book a hotel room, let your travel concierge do it for you.Accessible 24x7English and multilingualDo save our Travel Concierge number for future assistance: 1800 209 4006 (Toll Free)*Note - Reservation or booking charges for the services will be borne by customer on actuals.Terms and Conditions Apply.COMPREHENSIVE PROTECTIONTo show how much we care, we offer comprehensive insurance* covers against various risks you might face.Air Accidental death:In case of death in an Air accident, your nominated kin will receive a compensation ofRs. 1 CroreEmergency Overseas Hospitalization:Protection worth up to Rs. 15 lakhs against any medical emergency when you are travelling, and are outside your home countryHDFC Ergo General Insurance Company +800-0825-0825 (International Toll Free - accessible from outside India) / 01204507250 (Chargeable) [email protected] ProcedureIntimation of Claim to be provided within 60 days from the date of loss by the insured. Documents to be submitted to HDFC ERGO within 130 days from the date of loss.Contact details:a. For Emergency Medical Expenses - Toll Free: +800 08250825 (International Toll Free - accessible from outside India) / 01204507250 (Chargeable)b. Email: [email protected]. Address: A&H Claims Inward Team, HDFC Ergo GIC Ltd., 6th Floor, Leela Business Park, Andheri Kurla Road, Andheri East. Mumbai 400059*Terms & ConditionsNot applicable for NRI Regalia cardsAll the above insurance covers are available to the Primary cardholder.Air Accident cover will be activated if the tickets are purchased using HDFC Bank Regalia credit cards.Please note that all the above insurance covers will be available only after the Card member activates his/her HDFC Bank Regalia Credit Card.Activation is defined as ‘first purchase at a retail outlet or cash withdrawal from an ATM using the HDFC Bank Regalia Credit Card’.Liability on lost card will start from the Date of Dispatch of the card upto 30 days, whereas Air Accident/ Emergency Medical Expenses will start from Date of Activation of the card (means first POS transaction/cash withdrawal by the cardholder)Liability on lost card covered to an extent of 500,000 for 2 days prior to Date of Block and 30 days post the Date of Block.Terrorism is specifically excluded under the policy.Travel Insurance provided under the policy shall not be valid for procuring a visa.Travel Insurance provided shall be valid for International Travel only.Maximum Trip Duration is restricted to 30 Days.Fraudulent transactions done by person known to the cardholder are specifically excluded.Insurance covers are not provided by HDFC Bank. Exclusions/Limitations are applicable as per the policies issued by the Insurance Company with whom the Bank has tied up.Please note that all the above insurance covers will be available only after the Card member activates his/her HDFC Bank Regalia Credit Card. Activation is defined as ‘first purchase at a retail outlet or cash withdrawal from an ATM using the HDFC Bank Regalia Credit Card’. These insurance covers are not provided by HDFC Bank. Additional Exclusions / Limitations are applicable as per the policy of the insurance company with whom HDFC Bank has tied up for providing these covers.Please contact the insurance company for detailed T&Cs.Regalia1800 209 4006 (Toll Free) | [email protected] First1800 209 4006 (Toll Free) |

You can transfer money from Paytm wallet to Paytm payments bank similarly through send money to bank in your wallet passbook of Paytm wallet…1.) Enter registered mobile number on Paytm payments bank at the place of bank account number .2.) Enter IFS CODE PYTM01234563.) Enter amount4.) Description5.) SendMore FAQ'S ABOUT PAYTM PAYMENTS BANK …What is a Payments Bank?Payments Bank is a new model of banks visualised by the Reserve Bank of India. As a Payments Bank, Paytm can now offer banking services like Debit Cards, Online Banking, Mobile Banking, and also accept deposits of upto Rs. 1 lakh per customer in a Savings Account.How is a Payments Bank different from a normal bank?Payments Bank is a new model of banks visualised by the Reserve Bank of India. As a Payments Bank, Paytm can now offer banking services like Debit Cards, Online Banking, Mobile Banking, and also accept deposits of upto Rs. 1 lakh per customer in a Savings Account.Although Payments Bank cannot offer financial products of their own as a business entity, it can act a business correspondent and partner with other financial institutions and banks to offer Loan Products, Fixed Deposits, Insurances etc.What are the services offered by Paytm Payments Bank?Paytm Payments Bank will soon be offering services like savings and current account with a debit card which will help you make easy and faster payments.It will also give you to access to a wide range of financial services such as Insurance, Loans and Mutual Funds offered by our partner banks with the seamless Paytm experience.Is there a minimum balance requirement?There is no minimum balance requirement for your Paytm Payments Bank Savings Account.How can I open a Paytm Payments Bank account?To open your bank account, kindly follow these simple steps.Launch your Paytm appGo to the Bank tab on the bottom right of your screenSet a passcode (if not setup already) and provide nominee details for your account.In case you are a Non-KYC customer, you will be prompted to book a KYC appointmentYou will be notified when your account is createdWhat happens to my balances above Rs 1 lakh?As per the RBI guidelines, you can hold only a maximum of Rs. 1 lac in your Paytm account at the end of the day. This limit is imposed on the sum of your wallet and savings account balances. Balance amount in excess of Rs. 1 lac is moved to a Fixed Deposit with our partner bank.What are the charges on a bank account?Please refer our rates and charges here: http://www.paytmbank.com/ratesCharges.htmlWhat will happen when I move to Paytm payments bank?Your Wallet currently resides with Paytm Payments Bank as mandated by RBI for all Paytm Wallet customers. Paytm will offer all the services which it did as a wallet, and additional features like:Interest on the money deposited in the Savings Account.A RuPay Card to use for payments and online shopping.Internet and mobile banking services.It will also enable you to access a range of financial services such as Insurance, Loans and Mutual Funds offered by our partners. If you decide to open an account with us, you can still continue to enjoy all the benefits of the wallet.Does it mean Paytm will now be regulated by RBI?Yes, Paytm Payments Bank will be regulated by RBI under all guidelines applicable to a Payments Bank. Please note that Paytm Wallet was already regulated by RBI under the 'Prepaid Payment Instruments Act, 2007'. Now as this wallet will become a part of the bank, additional RBI guidelines for Payments Bank will also be applicable.I've seen your ad, what does it mean?Our advertisement simply wishes to convey that our Paytm Wallet business which was owned by One97 Communications Ltd. will now reside with Paytm Payments Bank Ltd. as per RBI requirement. This is simply a change within the company and your services and experience with Paytm will continue to remain the same. As a part of this, all your wallet related information will reside with Paytm Payments Bank. You will also be able to open savings account with Paytm Payment bank soon. It will also enables you to access a range of financial services such as Insurance, Loans and Mutual Funds offered by our partners.Are Paytm wallet and Paytm payments bank the same thing?Paytm Payments Bank is our new banking entity. As guided by the Reserve Bank of India, Paytm wallet business is transferred from One97 Communications to Paytm Payments Bank. Paytm Payments Bank will continue to offer you the existing Paytm Wallet product. Other banking products will also be offered to you soon.I don't know whether I am a KYC wallet user or Non-KYC wallet user. How do I check?You can check whether you are a KYC or non-KYC wallet user in a few simple steps.Please login to your paytm app and open your profile screen from bottom navigation icons.If you are a KYC wallet user, you will see a blue tick-mark next to your name.Alternatively, if you are a non-KYC wallet user you will see your wallet balance and an option to upgrade your account.Who is a KYC/ Non-KYC user?When you sign up on Paytm, a wallet gets created for you in which you can add up to Rs 20,000 in a calendar month. This is as per RBI regulations. As a result there is a cap on how much you can spend. Such a user is called a non-KYC user. You can get rid of these limits and upgrade your wallet for FREE by getting your KYC (Know Your Customer) details verified. You can do this simply by getting your identity proof and address proof verified. Completing KYC details increases your wallet limits and lets you maintain up to Rs 1,00,000 at any point of time. Such a wallet user is called a KYC user.My Savings AccountSavings AccountHow do I open a Savings Account?To open your bank account,follow these simple steps.Launch your Paytm appGo to the Bank tab on the bottom right of your screenSet a passcode (if not setup already) and provide nominee details for your account.In case you are a Non-KYC customer, you will be prompted to book a KYC appointmentYou will be notified when your account is createdCan I open more than one Savings Account?No, only one Savings Account can be opened for one customer.What are the charges on a bank account?Paytm Payments Bank offers its customers a free-to-use bank account with minimum or no charges for account maintainence or any account related services. Please refer to our account T&Cs for more details.Is there a minimum balance requirement?There is no minimum balance requirement in a Paytm Payment Bank Savings Account. Customers can maintain zero balance in their account and enjoy all banking services with no account related service charges.How do I get a debit card?You will get a Digital Rupay card which is linked to your Paytm Payments Bank savings account.You can use this card for making online payments. We would soon launch physical debit card which can be used at ATM & POS machinesHow do I request a chequebook?Currently, We are not providing chequebook facility for the Savings Account.How do I request a demand draft?Currently, We are not providing demand draft facility for the Savings Account.How much interest will I earn on my Savings Account?Your deposit will earn interest of 4% p.a. on the daily balance of your Savings Account. Interest earned will be added to your Savings Account on the last date of every month.If I do not have a Paytm Wallet, can I open a Savings Account?Every customer who registers with Paytm is being given with a wallet feature by default. Once you signup at Paytm you can also choose to open the Savings Account with us.NomineeWhat is nomination facility?You can add a nominee to your account. In case something unforeseen happens to you, your nominee will get the balance in your account.How do I add a nominee?You can add nominee to your account at the time of opening the bank account.In case you didnt add a nominee at that time, you can add it now from your Paytm app:Open the Paytm app and click on Bank tab.If you are not already logged into your Paytm account, the app prompts you to login / sign up. Else skip to step 3 directly.Click on Add Nominee under the Bank Account Services tab'Enter your 4-digit passcodeYou can now fill in details of the nominee you wish to assign to your savings account.Please note that the minimum age of the nominee has to be 18 years.I want to change my nomineeCurrently, we do not allow change of nominee. However, we will provide this option soon.Can I have a different nominee for my wallet and Savings Account?No, you may nominate only one single nominee for both your wallet and Savings Account.How many nominees i can add in my Savings Account?Currently, you can have only one nominee for your Savings Account.PasscodeWhat is a passcode?Your bank account details inside the Paytm app are protected with a passcode. It is a 4-digit numeric code set by you which can be used to assist in resetting your login password.What is difference between my password and passcode?Paytm password is a security check which allows you to login into your Paytm account and make online transactions. It is a combination of alpha-numeric and special characters.Paytm passcode is a 4-digit numberic code which acts as an additional security check to authorise access to your bank account details or transactions. This is to ensure a higher level of security to your bank account details and transaction history.I forgot my passcodeIf you have forgotton your passcode, you can reset it with mentioned stepsGo to the profile tab on your Paytm homescreenChoose 'Security settings'Select the option 'Change Passcode'Select the option 'Forgot passcode'Enter your Paytm login password and click on 'Submit'Now enter your new 4-digit numeric passcode.Your passcode has been successfully reset.I want to change my passcodeYour passcode can be reset in four simple stepsGo to the profile tab on your Paytm homescreenChoose 'Security settings'Select the option 'Change passcode'Enter your current passcode.Now enter your new 4-digit numeric passcode.Your passcode has been successfully reset.PAN cardHow do I add PAN card to my account?You can add PAN number to your account if not done already in four simple steps:Go to Profile section of Paytm appSelect 'Edit Profile'Enter your PAN card number in the field 'PAN Card'Select 'Done' at the top of the screen.Your PAN number is now saved with us.Closing AccountHow do I close my Savings Account?For closure of your account, you will need to raise a ticket with us from the 'Contact us' section of the Paytm website or the 'Help & Support' section of your Paytm app.If you choose to close your savings account only, you will still be able to use your wallet as usual and enjoy services offered by Paytm.Account detailsHow do I check my account numberTo check your account details, follow these simple steps.Launch your Paytm app.Click on the Bank icon.(bottom right).You can see your account number and IFSC code under the Savings Account section.How do I check my nominee detailsTo check your nominee details, follow these simple steps.Launch your Paytm app.Click on the Bank icon.(bottom right).Click on 'Account Nominee' under the Bank Account Services sectionYour nominee details will be visible nowPlease note if you have not updated the nominee details for your Savings Account, you will be able to add the nominee using 'Add a nominee' under the 'Nominee details' section.My Digital Debit CardAbout RuPay CardWhat is a Rupay card?RuPay is an Indian domestic card scheme conceived and launched by the National Payments Corporation of India (NPCI).Your Paytm Payment Savings Account comes with a Digital Rupay card that you can use to make payments on all online platforms where debit cards are accepted. We will soon launch physical debit card which can be used at ATMs & stores.Where and how do I use Rupay card?Paytm digital Rupay card can be used at all the major online merchants which accept Rupay cards. At the time of any online transaction, you can choose to pay through debit card. You will need to enter your card details.Once the details are entered, you will receive a One-Time-Password(OTP) on your registered mobile number. Enter the OTP to complete your purchase.Steps to see Card detailsOpen the Paytm app and click on the Bank section(bottom right)If you are not already logged into your Paytm account, the app prompts you to login / sign up. Else skip to step 3 directly.Enter the 'Digital Debit Card' sectionClick on 'View CVV/Expiry Date'You will be prompted to enter your 4 digit passwordOn entering your passcode,you can view your digital debit card which displays your card number, expiry date and CVV number.Can I use Rupay card on my wallet balance?The Rupay card can be used only to spend money available in the Savings Account.Can I use my Paytm rupay card to make international payments?The Rupay card is accepted only on merchants in India.Do I get charged if I pay through my Rupay card?There are no charges levied by Paytm Payments Bank on the payments made through your Rupay card. However as per Government's directions, surcharge may be levied on railway ticket bookings and payments at petrol pump. The surcharge will be as per the rates prevailing at the time of transaction.What is the maximum amount I can pay using my rupay card?The per transaction limit on your card is set at 2 lacs. Total daily transaction limit on the card is also 2 lacs.My Paytm Rupay Card detailsHow do I see my card detailsPlease follow the given steps to view your digital debit card detailsOpen the Paytm app and click on the Bank section(bottom right)If you are not already logged into your Paytm account, the app prompts you to login / sign up. Else skip to step 3 directly.Enter the 'Digital Debit Card' sectionClick on 'View CVV/Expiry Date'You will be prompted to enter your 4 digit PasscodeOn entering your passcode,you can view your digital debit card which displays your card number, expiry date and CVV number.Will I get a physical debit card and cheque book with this account?Currently, our savings account comes with a digital debit card that can be used for online transactions. We will have physical debit card and cheque book facility soon!Withdraw money using Rupay CardHow do I withdraw money from my account using Rupay Card?You will require a physical debit card for withdrawing funds using Rupay Card. We currently do no provide Physical debit cards, but we will be introducing this soon.Till then you can go to our branch and ask for cash withdrawal from your account.Block/unblock cardHow do I block my Paytm Rupay card?Please follow the given steps to block your digital debit cardOpen the Paytm app and click on the Bank section(bottom right)If you are not already logged into your Paytm account, the app prompts you to login / sign up. Else skip to step 3 directly.Enter the 'Digital Debit Card' sectionClick on 'Block Card'You will be prompted to enter your 4 digit PasscodeOn entering your passcode,your card will be blockedYou can unblock it any time using the 'Unblock Card' optionHow do I unblock my Rupay card?Please follow the given steps to unblock your digital debit cardOpen the Paytm app and click on the Bank section(bottom right)If you are not already logged into your Paytm account, the app prompts you to login / sign up. Else skip to step 3 directly.Enter the 'Digital Debit Card' sectionYour Digital Debit Card will show the option 'Unblock Card'On clicking it,you will be prompted to enter your 4 digit PasscodeOn entering your passcode,your card will be unblockedCashbackHow much cashback do I get?You will get a Cash back of 5% on utility bill payments made using Rupay Card. Cash back is capped at Rs. 50/month.You also get Rs. 25 cashback on train ticket booking through irctc.co.in using Rupay Card.For more details, please visit: hereWhen do I get cashback?Cashback will be credited to your Savings Account within first 10 working days of each month for the transactions done in the previous month.For more details, please visit: hereMy Savings Account PassbookSavings Account balanceWhere can I see my savings account passbook?Please follow the given steps to view your savings account passbookOpen the Paytm app and click on the Bank section(bottom right)If you are not already logged into your Paytm account, the app prompts you to login / sign up. Else skip to step 3 directly.Click on the balance under the 'Savings Account' sectionYou will now be able to view your savings account passbookSavings Account statementHow do I get bank account statement on email?Currently, we support only wallet statement on email and will provide the bank statement on email soon.How do I request certified printed copy of bank statement?You need to visit our branch for certified statement request.Is there any charge on printing of statement in the branch?There are no charges for request of printed statements at branch.What is Fixed Deposit?As per the RBI guidelines, you can hold only a maximum of Rs. 1 lac in your Paytm account at end of the day. This limit is imposed on the sum of your wallet and savings account balances.Your balance amount exceeding Rs. 1 lac is moved to a Fixed Deposit with our partner bank, where you earn an interest as per rates offered by partner bank. You may redeem the amount in the Fixed Deposit at any time.Why did my money move to Fixed Deposit?As per the RBI guidelines, you can hold only a maximum of Rs. 1 lac in your Paytm account at the end of the day. This limit is imposed on the sum of your wallet and savings account balances. Balance amount in excess of Rs. 1 lac is moved to a Fixed Deposit with our partner bank.Is there any alternative to prevent my money going to Fixed Deposit?Your money will not be moved to Fixed Deposit if your total balance is below Rs. 1 lac. You will need to maintain a balance below Rs. 1 lac if you do not want your money to be moved to Fixed Deposit. We will also provide other facilities in the future.Can I use the money in my Fixed Deposit?Yes, the money in your Fixed Deposit can be used for any transactions once you redeem the amount and it is transferred to your savings account.Do I get interest on money kept in Fixed Deposit?Yes, your money in the Fixed Deposit earns an interest at a rate as per partner interest rates. Today's FD creation rate table can be found here. If you choose to redeem this amount before maturity, the interest earned is calculated according to the interest table of IndusInd bank as applicable on the date of creation of FD.How do I get my money back from Fixed Deposit?To redeem your Fixed Deposit amount, simply go to the 'Fixed Deposit' tab under the 'Passbook' section of your app, and choose the amount you want to redeem. The amount you choose to redeem will be credited to your savings account within a few minutes.Why is the interest not credited even after redeeming my Fixed Deposit?The amount you redeem from your Fixed Deposit will be transferred to your savings account within a few minutes, however, the interest accrued on the amount redeemed will be credited to your account separately within 48 hours.Is there any penalty if my money lies in Fixed Deposit?There is no penalty. In fact, the amount lying in your Fixed Deposit earns an interest. You can also choose to redeem the amount lying in your Fixed Deposit.Can I get tax redemption on the interest earned on my Fixed Deposit?We will have an option to submit 15 G/H to save TDS on interest earning soon.Total BalanceMy account balance is greater than 1 lakh but it is not moved to Fixed Deposit. Why?You can hold any amount of money in your savings account during the day, but as per RBI guidelines for Payments Bank, an amount of more than Rs. 1 lac (including wallet and savings account) will be transferred to a Fixed Deposit at the end of the day.I can see total balance in app but it shows insufficient balance error when I pay through debit card?Total balance is your balance across wallet and savings account. Debit card can be used only on money kept in savings account.Add MoneyAdd Money to Savings AccountHow do I add money to my Savings Account?You can add money to your Paytm Payments Bank Savings Account by using IMPS or NEFT from any other bank's app or website. To initiate money transfer to your Paytm Payments Bank Savings Account, you need to 'Add Beneficiary' in your source account using :Paytm Payments Bank Savings Account NumberPaytm Payments Bank IFSC Code (PYTM0123456)Once beneficiary is added, you can transfer money via IMPS or NEFT to your Savings Account.Alternatively, you can also deposit the cash to your savings account at the nearest branch.Deposit CashHow do I deposit cash in my account?You can visit our Paytm Payments Bank branch to deposit the cash in your savings account. Below are the steps:Visit our branch and send an SMS to <9740797407> containing <D Amount to be deposited> from your registered mobile number.For verification purpose, kindly share the Ref. ID (Received via. SMS) and Proof of Identity (Aadhaar card/Driving License/Passport/Ration card) with the counter representative. Please note that no one else can deposit money on your behalf in your savings account.Post verfication, handover the money to the counter representative that you want to depositOnce the amout is deposited in your account, you will receive an notification of sucessful deposit.Check your account balance under the 'Passbook' option in your Paytm mobile app.Please ensure that you carry your PAN card with you to deposit the money in your savings account.The details of our flagship branch is mentioned below.Paytm Payments Bank,Ground Floor, B-121,Sector 5, Noida.Pin Code - 201301Uttar PradeshThe branch operates from 10 AM to 5PM.Pay or SendSending money from Savings AccountHow do I send money from my Savings Account to other account?You can transfer money to other account from your savings account by going to the Bank tab and clicking on the Money Transfer option.How do I send money from my Savings Account to my Wallet?Currently, you cannot transfer the money to your wallet from your Savings Account directly.However, you can use 'Add Money' option on our app and web to add the money in your wallet using Rupay card linked to your Savings Account. Below are the steps:Launch Paytm appClick on 'Add Money' option and select 'Wallet'Enter the amount you want to addSelect the 'Paytm Payments Bank Rupay Card' under the 'Saved cards' option (If you are unable to view the card details, please enter the card details manually under 'Credit/Debit' option)Enter the card CVV and click on 'Proceed to Pay'Payment from Savings AccountHow can I pay from my Savings Account?You can make online payments using your Rupay Card linked to your Savings Account. Your Rupay card details will be visible under the 'Passbook' section of Paytm app.When you initiate a transaction using your Rupay card, you will need to enter an OTP (One time password) which will be sent to your registered mobile number.I can see total balance in app but it shows insufficient balance error when I pay through debit card?Total balance is your balance across wallet and savings account. Debit card can be used only on available funds in savings account.Paytm BranchBranchWhere are Paytm Payments Bank's branches?Paytm Payments Bank presently has a flagship branch with the following address.Paytm Payments Bank,Ground Floor, B-121,Sector 5, Noida.Pin Code - 201301Uttar PradeshThe branch operates from 10 AM to 4 PM.What facilities are there in the branch?You can avail the following facilities at our branch:Get your KYC doneOpen Savings Account (if you have not opened already)Deposit money in your accountWithdraw money from your accountRequest for hardcopy of your Savings Account statementInsurance ClaimClose account requestBlock your account/cardWhat are the branch timings?The branch is open from 10 AM to 4 PMDo you offer a locker facility?No, we currently do not offer a locker facilityPrinted StatementHow do I request for a printed statement at branch?You can visit our Paytm Payments Bank branch to get a printed statement of your savings account. Below are the steps:Visit our branch and send an SMS to <9740797407> containing <STM> from your registered mobile number.For verification purpose, kindly share the Ref. ID (Received via. SMS) and Proof of Identity (Aadhaar card/Driving License/Passport/Ration card) with the counter representative. Please note that no one else can receive the statement on your behalf.Post verification, hardcopy of your savings account statement for last 3 months will be provided to you.Are there any charges for requesting printed statement?There are no charges for requesting printed statement at branch.Withdraw CashHow do I withdraw cash from my Savings Account?You can visit our Paytm Payments Bank branch to withdraw cash from your savings account. Below are the steps:Walk-in our branch to the teller counter and request to withdraw money.Send an SMS to 9740797407 containing <W Amount to be withdrawn>.Share the Ref. ID (Received via. SMS) and Proof of Identity (Aadhaar card/Driving License/Passport/Ration card/PAN card) with the counter representative. Please note that no one else can withdraw money on your behalf from your Paytm Payments Bank account.On verfication of your identity, counter representative will handover the cash to you.Please ensure that you have received the requested amount before leaving the counter.You will also receive a notification of confirming for cash withdrawal.Is there any limit on the amount of cash I can withdraw in the account?There is no limit in cash withdrawal at branch if the user had shared his/her PAN card during account creation. However, there is an INR 50,000 withdrawal limit incase the same has not been done but the customer has shared/submitted form 60.Can someone else withdraw cash on my behalf?No, only the account holder can withdraw cash in their bank account by carrying a proof of identity while doing so.What are the charges for withdrawing cash?There are no additional charges for withdrawing money from your Paytm account.Deposit CashHow do I deposit cash in my account?You can visit our Paytm Payments Bank branch to deposit the cash in your savings account. Below are the steps:Visit our branch and send an SMS to <9740797407> containing <D Amount to be deposited> from your registered mobile number.For verification purpose, kindly share the Ref. ID (Received via. SMS) and Proof of Identity (Aadhaar card/Driving License/Passport/Ration card/PAN card) with the counter representative. Please note that no one else can deposit money on your behalf in your savings account.Post verfication, handover the money to the counter representative that you want to depositOnce the amout is deposited in your account, you will receive an notification of sucessful deposit.Check your account balance under the 'Passbook' option in your Paytm mobile app.Please ensure that you carry your PAN card with you to deposit the money in your savings account.Is there any limit on the amount of cash I can deposit in the account?There is no limit on the amount of cash you can deposit in your savings account. Balance amount at the end of the day in excess of Rs. 1 lac is moved to a Fixed Deposit with our partner bank. This will be visible in your Passbook.Please ensure that you carry your PAN card with you to deposit the money in your savings account.Can someone else deposit cash on my behalf?No, only the account holder can deposit cash in their bank account by carrying a proof of identity while doing so.What are the charges for depositing cash?There are no charges for adding money to your Paytm account.