Paytm Payments Bank will not work from today! What will work after this and what will not? Know the answer to every question!



Finally the date of 15th March has arrived. RBI had designated this day as the last day for Paytm Payments Bank. Initially, the Central Bank had ordered the closure of Paytm Payments Bank services after February 29, which was later extended till March 15. Now many existing users of Paytm are confused about the services related to it. Their queries range from booking flight tickets to recharging mobile phones and online transactions. If you also have any confusion, let us explore each question and provide the answer in simple language.

Question – Will the Paytm app and its services continue to work even after March 15?

Answer – Yes, users can continue to use the services available on the Paytm app without any interruption.

Question – Will Paytm QR Code, Soundbox, and card machines continue to work without any hassle?

Answer – Yes, Paytm QR Code, Soundbox, and card machines will continue to function smoothly.

Question – Can I still get benefits from booking tickets for movies, events, and travel (metro, flight, train, bus) through the Paytm app?

Answer – Booking of tickets for movies, events, and travel (metro, flight, train, bus) as well as other services will remain fully operational on the Paytm app.

Question – Can I continue to recharge my mobile/internet, pay utility bills, and avail of other services through the Paytm app?

Answer – Users can continue to recharge their mobile phones, DTH, or OTT subscriptions and conveniently pay all utility bills (electricity, water, gas, internet) through the Paytm app.

Question – Will I still benefit from restaurant offers on Paytm Deals?

Answer – Yes, Paytm Deals will continue to work as before, allowing users to avail of all the offers and discounts without any hassle.

Question – Can I book a cylinder on the Paytm app and also pay my piped gas bill and apartment electricity bill?

Answer – Yes, you can continue to use these services.

Question – Can I buy insurance and pay my insurance premium using the Paytm app?

Answer – Yes, users can continue to buy new insurance policies for bikes, cars, health, and others and pay the premium using the Paytm app.

Question – Can I buy Fastag on the Paytm app or recharge my Fastag from other banks?

Answer – Yes, Paytm already offers HDFC Bank Fastag and also offers the option to recharge Fastag from other partner banks. However, Paytm Payments Bank Fastag cannot be purchased; however, you can recharge them till March 15 and use them till the balance is exhausted.

Question – Are my investments in equities, mutual funds, or NPS safe through Paytm?

Answer – Yes, Paytm Money is offering the facility to invest in equity, mutual funds, or NPS for its customers. Paytm Money Limited is SEBI-regulated and fully compliant with the regulations.

Question – Can I buy or sell gold digitally on the Paytm app?

Answer – Yes, you can continue to buy or sell digital gold on the app. Your Paytm Gold investment is protected through MMTC-PAMP.

Question – Can I pay my credit card bill through the Paytm app?

Answer – Yes, you can continue to make such payments.

Question - Will UPI services on Paytm continue even after March 15?

Answer – Yes, you will be able to use UPI services just like Google Pay.

Question - Will my money be settled without any hassle?

Answer – Settlements in your existing Paytm Payments Bank Limited account will continue smoothly till March 15, 2024. The balance in the account can be withdrawn even after March 15, 2024.

Question – How can a merchant change his settlement bank account from PPBL to another bank through IMPS?

Answer – Merchants can change their settlement account by opening the 'Change Settlement Account' page through the Business Profile or Settlement Settings option in the left menu. Then, they can click on the 'Change' button for the settlement account. In the final step, they can choose an existing account, click on 'Save', enter the OTP, or add a new bank account, select the option, and then enter the required details.