Paytm explains what will work and what will not after March 15: Wallet, Fastag, UPI questions answered

Paytm explains what will work and what will not after March 15: Wallet, Fastag, UPI questions answered

There is still uncertainty about whether or not the UPI service will continue to function because the deadline for the ban on Paytm Payments Bank has been extended. In response, Paytm has released an official update on its website outlining what will and won’t function with regard to Wallet, Fastag, and other features after March 15. Everything you need to know is right here.

Can you continue to use Paytm to do recharges, pay bills and other things?

According to the company’s most recent FAQ page, users can keep using the Paytm app to pay all of their bills and recharges. For those who have connected their Paytm account to any approved bank, such as ICICI, HDFC, or another, the Paytm Payments bank ban will not impact them. People will be able to carry on with their activities or recharge.

Will Paytm QR code, Paytm Soundbox, Paytm Card Machine continue to work?

Indeed. The company claims that the ban won’t affect your Card Machine, Soundbox, or Paytm QR. It will function after March 15th as well.

Can you continue to use Paytm Payments Bank Wallet?

Yes, you can use, withdraw from, or transfer to another wallet or bank account up until the point at which the wallet’s balance becomes available. You should be aware that after March 15, 2024, you won’t be able to make any more deposits into the same; nevertheless, all cashback and refunds will still be credited to your wallet.

Can you use a FASTtag / NCMC Card issued by Paytm Payments Bank?

Yes, you are able to use the Paytm Payments Bank-issued FASTag / NCMC Card at this time. After March 15, 2024, though, you won’t be able to recharge or add money to the same. You have two options: use the funds or cancel your FASTag and NCMC card issued by Paytm Payments Bank

Is your money safe?

The Reserve Bank of India (RBI) has issued a directive prohibiting the Paytm Payments Bank Account / Wallet from allowing fresh deposits or allowing credit transactions after March 15, 2024, as the company has clarified on its website. But even after March 15, 2024, you can still withdraw money from your current balance without any restrictions. Your current balances in your wallet or account are unaffected by the directive, and the Bank is safeguarding your funds.

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