Is Paytm wallet necessary?

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Is Paytm wallet necessary?

“Paytm is also a commerce platform and we allow users to do any transaction using Credit Cards, Debit Cards, Net Banking & UPI in addition to Prepaid Wallet. Wallet is only required if you want to add money and spend from wallet,” the company said in a new blog.

Can we use credit card for Paytm payment?

What is Paytm Wallet? The Paytm app contains a virtual purse called the Paytm Wallet. The account holder can add money to it using a debit card and credit card, or through netbanking. They can also receive or send money using this wallet to refill it.

Is adding money to Paytm wallet from credit card chargeable?

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When contacted, a Paytm Payments Bank spokesperson said customers have the flexibility to add money to their Paytm wallet from any of their preferred funding source, including UPI, net banking and cards. The 2\% charge is passed on to customers, who use credit cards for adding funds to their wallet.

What is minimum KYC of Paytm?

In order to complete minimum KYC, you need to provide your Name and Unique identification number of any of Passport, Voter ID, Driving License or NREGA Job Card. Minimum KYC allows you partial access to benefits of Paytm Wallet. With minimum KYC wallet, you can do the following: Cannot send money to a friend’s wallet.

What documents are needed for Paytm KYC?

You can choose Passport, Driving license, Voter id or NREGA card. Aadhaar is not mandatory.

Can I transfer money from credit card to bank account?

You can transfer money from credit card to bank account using offline methods such as signing a cheque, RTGS, NEFT or through an ATM.

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Can you pay credit card with wallet?

Yes, you can! Mobile wallets help you make purchases and payments through the credit card and debit card account linked to the wallet. You can also make your credit card bill with the credit card information stored on the wallet.

How can I get Paytm wallet money without KYC?

Without minimum KYC it is still possible for you to use Paytm for UPI money transfer and make purchases using credit/debit cards and net-banking.

What is the minimum balance in Paytm wallet?

Paytm Payments Bank offers all the services which it does as a wallet, and additional features like: No minimum balance requirement. All digital transactions are free. 2.5\% Interest per annum on the money deposited in the Savings Account.

How can I activate Paytm wallet without KYC?

Lastly, Paytm has also come up with a solution to make the transfer of cash from Paytm e-wallets even without the Aadhaar KYC verification. For this, the users will have to subscribe to UPI, by downloading the BHIM app and linking their bank accounts with Paytm via UPI and they are good to go.

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Can I receive Paytm money without KYC?

You must note that you can receive money in your Paytm wallet only from another Paytm wallet user. Both parties should be Paytm users with a complete KYC verification status. If the KYC of any of the users is incomplete, then you need to upgrade your account by completing KYC.