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Wednesday, April 17, 2024

Is It Still Possible to Use Your Paytm FASTag to Pay at Tolls? Paytm Bank Solutions Payments


<p>On Friday, Paytm Payments Bank Ltd. (PPBL) made available to its customers a list of frequently asked questions (FAQs). The minimal amount required in FASTag accounts and the process for receiving your security deposit back are covered in these FAQs. According to the FAQs, Paytm Payments Bank will stop taking deposits and top-ups for FASTags as of March 15. Customers who use PPBL FASTags may continue to use the money in their accounts to pay tolls after March 15th, according to the Reserve Bank of India (RBI).</p>
<p><img decoding=”async” class=”alignnone wp-image-522052″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-is-it-still-possible-to-use-your-paytm-fastag-to-pay-at-tolls-paytm-bank-solutions.jpg” alt=”theindiaprint.com is it still possible to use your paytm fastag to pay at tolls paytm bank solutions” width=”1034″ height=”777″ title=”Is It Still Possible to Use Your Paytm FASTag to Pay at Tolls? Paytm Bank Solutions Payments 6″></p>
<p>After March 15, 2024, will you be able to take money out of your Paytm Payments Bank savings or current account? Can you keep using the debit card supplied to you by Paytm Payments Bank?</p>
<p>The bank claims that the RBI will stop allowing credit transactions and accepting new deposits into the Paytm Payments Bank Account after March 15, 2024. You may still use, withdraw, or transfer funds from your account up to the available balance. Similarly, you are permitted to continue using your debit card to make withdrawals or transfers up to the total amount that is available in your account.</p>
<p>Is it still feasible to deposit or transfer money into your Paytm Payments Bank current account or savings account after March 15, 2024?</p>
<p>An RBI rule prohibits Paytm Payments Bank from accepting new deposits or handling credit transactions beyond March 15, 2024. However, rewards, interest, refunds, and sweep-ins from partner banks are all eligible for crediting.</p>
<p>Can you still get your salary on your Paytm Payments Bank account if it is credited there?</p>
<p>The bank states that you are free to spend, withdraw, or transfer funds from your account up to the available balance. However, it is recommended that you make alternative arrangements with a new bank before March 15, 2024, to ensure a smooth transfer and avoid any issues.</p>
<p>Is it still possible for you to get government subsidies or specific direct benefit payments into your Aadhar-linked Paytm Payments Bank account?</p>
<p>You may only spend, withdraw, or transfer funds from your account up to the available balance. By March 15, 2024, alternative arrangements must be made with a different bank.</p>
<p>Can you keep using your Paytm Payments Bank bank account to automatically transfer money each month for your OTT subscription via UPI?</p>
<p>Automatic UPI mandates for debits or withdrawals will keep happening as long as there is enough money in your account.</p>
<p>Will any reimbursement that is paid to your Paytm Payments Bank account after March 15, 2024, be credited to your account again?</p>
<p>Yes. Refunds for purchases made using wallets, savings accounts, current accounts, cashbacks, sweep-ins from partner banks, and interest are permitted to be deposited into your Paytm Payments Bank Account even after March 15, 2024.</p>
<p>Can you continue to use your Paytm Payments Bank account to make automatic installment payments (EMI) on your loan?</p>
<p>Orders for debits or withdrawals, such as those from the National Automated Clearing House (NACH), will be processed until the amount in your account is depleted.</p>
<p>Can you use a bank account other than Paytm Payments Bank to continue receiving your loan’s recurring monthly payments (EMIs)?</p>
<p>Payments may still be made for EMIs registered with banks other than Paytm Payments Bank.</p>


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