While Paytm offers convenient financial services, there might come a time when you want to close your Paytm bank account. Whether you’re switching platforms or simply no longer need the account, deleting it is a straightforward process.
Paytm Important Update
Following recent regulations from the Reserve Bank of India (RBI), Paytm Payments Bank (PPBL) accounts will undergo some crucial changes affecting how you use and manage your account. Here’s what you need to know:
- Closure Required by March 15th: Ensure you close your account before March 15th due to the RBI restrictions.
- New Deposits & Credit Blocked: You cannot deposit new funds or make credit transactions after March 15th.
- Transfer Funds Before Closure: Transfer any remaining balance to another bank account or Paytm user before initiating closure.
Important Points to Remember Before Proceeding
- Ensure Zero Balance: Maintain no remaining balance in your Paytm bank account. You can spend it, transfer it to another account, or withdraw it.
- Unlink Bank Accounts: If you’ve linked other bank accounts to Paytm, remove them before initiating the closure process.
- Deactivate UPI: If you’ve used Paytm UPI, deactivate it before closing the account.
Steps to Delete Your Paytm Bank Account
I. Through the Paytm App
- Step 1: Open the Paytm app and log in with your registered mobile number.
- Step 2: Tap on the icon in the ‘Upper left corner‘ of the screen to open the menu.
- Step 3: Select “24×7 Help“.
- Step 4: Go to “Profile Settings“.
- Step 5: Choose “I need to close/delete my account“..
- Step 6: Explain your request for account closure and submit.
- Step 7: Paytm customer support will contact you to verify and process the closure.
II. Through the Paytm Bank Website
- Step 1: Visit the Paytm Bank website: https://www.paytmbank.com/
- Step 2: Click on “Close Account” under “Support“.
- Step 3: Select “I am unable to access my Account” and then “I need to block my account“.
- Step 4: Submit the request with proof of account ownership (PAN card or Aadhaar card).
- Step 5: After verification, Paytm will send you an SMS with a link to confirm account closure.
- Step 6: Click the link to complete the deletion process.
Important Notes
- Account closure might take up to 48 hours.
- Once you delete your account, it will not be possible to recover it.
- Consider alternative options like deactivating your account if you’re unsure about permanent closure.
Remember, Paytm customer support can also assist you with the deletion process. Feel free to reach out to them for any clarification or help. Check out this article for guidance on how to delete your Paytm account.
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