Wondering what will work and what won't on Paytm after Feb 29? Here's the list

Charushree Chundawat

Feb 04,2024

The RBI has said that after February 29, Paytm Payments Bank should not offer services like fund transfers, bill payments, or UPI facilities. This means Paytm.

PayTM wallet balance After February 29, Paytm wallet balances can still be topped up and transferred. However, this can no longer be done through Paytm Payments Bank. Users are still able to add funds and use their existing balances for bill payments.

FASTag Users with Paytm FASTag users need not worry as Paytm FASTag, which is connected to the Paytm wallet, will continue to function. Wallet transactions will still be allowed even after February 29.

Fund transfers The RBI has said that after February 29, Paytm Payments Bank should not offer services like fund transfers, bill payments, or UPI facilities. This means Paytm Payment Bank users won't be able to make any money transfers, bill payments, or UPI transactions through Paytm Bank after the specified date.

Loans taken through Paytm Loans obtained through Paytm do not carry any risk. These loans are provided by third-party lenders, and borrowers must continue to make their repayments.

Deposits on Paytm Paytm Payments Bank will not accept new deposits after February 29.