India’s one of the fastest growing mobile digital payment app is all set to launch their payments bank. Users can create their accounts their like they open their currents and savings account in other banks. The One97 Communication, the Parent company of Paytm, announced that they are planning to merge their Paytm wallet to Paytm Payments Bank. Today in this post I am going to tell you It’s Concept and How to Open Paytm Payment Bank Account Online.
Vijay Shekhar Sharma (Founder of Paytm) said, “After Building from a concept to a strong category leader, One97 Communication is all set to transfer Paytm wallet into Paytm Payments Bank which is also referred as PPBL.
So here we brought a detailed tutorial on How to Create/Open Paytm Payment Bank Account easily on your Smartphone or PC just by Shift PayTM Account to PayTM Bank Account. The guide includes 4 major steps, that makes you easy to Create Paytm Bank Account Online easily!
Without any further, let’s get into the guide section on easiest way to apply for Paytm Payments Bank account!
Contents
How to Create/Open Paytm Payment Bank Account Online
Creating a Bank Account in Paytm is not a hard task. You just have to keep your KYC Details ready, to begin with, Paytm Payment Account. Follow the Steps Below to Create a Paytm Payment Account Online.
Step 1: Make Paytm Wallet (Skip If you are already a Paytm Wallet User)
1. Go to the Paytm Website or Download Paytm App from Here.
2. Now Sign Up for a New Account, Enter a Valid Mobile Number and Email Address and Add a Secure Password. 🙂
3. Tick on “I hereby certify that I am 18 years of age” and hit “Create Your Paytm Wallet” and Tap on Signup.
4. After that Paytm will generate an OTP and Send to your Registered Number, Verify it.
Hurray, You created a Paytm Wallet Account. 🙂 Now you can Add money and Make payments of the services offered by Paytm. After creating wallet Visit here to add your Address, Debit/Credit Card Details for adding some money. Below are the Steps to Add Money to your Paytm wallet.
Step 2: Adding Money in Paytm Wallet
1. Login to your paytm account, Then tap on Add Money. Add the number of amounts you want to add to your paytm Wallet.
2. Select your Payment Method (Online Banking/Credit Card/Debit Card/IMPS) and Enter details and Confirm for Payment. You’ll receive an OTP generated by your Bank and Verify It.
That’s it. You have added Amount to your Paytm Wallet. Now the thing you have to do for Applying a Paytm Payment Bank Account is to Upgrade your Paytm Wallet. Below are the steps that will help you in Upgrading your Wallet 🙂
Step 3: Asking For Upgrading your Account
1. Download the KYC form from here and Compete for all of your Documents required in the form. Download it and Attach details like Address Proof, PAN Details, Passport Size Photograph and Take a self-attested copy of it.
2. Now visit Nearest Paytm Office with your documents and Attested Copies. Original Documents may be needed for verifying your Identity.
3. After Submitting the copies, it’ll take max 72 Hours to Upgrade your Account. After that, you can Apply for Paytm payment Bank.
Step 4: Migration from Normal Paytm Wallet to Paytm Payment Bank
Well, Here you do not have to do anything. After Upgrading your wallet, It’ll automatically Upgrade you wallet to Paytm Payment Bank Account. However, If you
However, If you are not interested in migrating from wallet to Paytm Payment Account, You need to send them a request regarding this. But, After that, your paytm wallet will be closed permanently. As they are, started migrating their paytm wallets to Paytm Bank automatically from 23rd May 2017.
How to Get your Paytm Payment Account’s Passbook, Debit Card and Cheque Book
Well, After Completing all the Process mentioned above, A Banking Welcome Kit will be shipped to your Home Address. This kit will contain your Passbook, Cheque Book, Paytm Debit Card, And your Internet Banking User Manual. It may take up to 14 Days to ship at your Address. That’s how the entire process of Open Paytm Payment Bank Account works!
“Update: Finally, Paytm has received approval from RBI. The payment Bank will launch on 23rd May 2017. You do not have to do anything to migrate your paytm account into payment bank. All active wallet accounts will be migrated automatically to the payments bank. However, as of now, limited users can open an account with Payments Bank. You can request an invite using This Link.”
So that’s for today and I hope the guide post on “How to Open Paytm Payment Bank Account Online” and I hope it worth a share and helpful for you!
For Any Issue Regarding How to create Paytm Payment Account Online, You can comment Below so I can Assist You. 🙂
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