Paytm wallet

[billubakra]

Hi,

So as per the regulations laid down by the RBI kyc is mandatory if you want to load cash into your ewallets like paytm, amazon pay etc. But for shopping cashbacks it is not mandatory like Rs. 10 cashback on purchase of goods worth Rs. 100. Amazon pay is giving cashbacks like this in a person' account but asking for kyc when we tell the delivery agents to load money. Very well. But paytm on the other hand is not giving cashbacks on items purchased, bills paid they ask for kyc to be completed first. Now here's the catch if someone does indeed get their kyc done with them then in 99.99% of the cases they will open your paytm bank savings account ofcourse without your consent. You won't be knowing about it. If you send the customer support a mail that a bank account was opened without your consent they won't do shit. By law it is mandatory to show all bank accounts like these in the itr. Is there any watchdog/department for this? Banking ombudsman is for grievances of the bank both private and public. I am looking for these payment bank grievance centre/department?

Thanks

 

[whitestar_999]

Do you have proof for this "opening of accounts without consent"? I seriously doubt any company doing same mistake as Airtel for which their payments bank CEO had to resign(opening payments bank account while doing aadhaar ekyc for sim card verification) & Airtel had to pay a Rs.2.5Cr fine.

Know All About Paytm KYC – Paytm Blog

 

[billubakra]

Do you have proof for this "opening of accounts without consent"? I seriously doubt any company doing same mistake as Airtel for which their payments bank CEO had to resign(opening payments bank account while doing aadhaar ekyc for sim card verification) & Airtel had to pay a Rs.2.5Cr fine.

Know All About Paytm KYC – Paytm Blog
View attachment 17413

Happened in my area. Actually some paytm guys set up a camp, Rs. 50 recharge for every kyc done. What they were doing in the process were opening bank accounts. In this case they did not change the lpg subsidy account, which SHITtel did. People in my area came to know about it after like a week or so and they couldn't auto close the accounts as the timeframe is 48 hours.
Anything for the wallet thing that I have mentioned?

 

[Stormbringer]

Paytm and Airtel Banks comes under something called Payments Bank. I think you can mail RBI since they are the ones who issue licences.

 

[Flash]

They also need your income details or PAN. Why would anyone need that for doing kYC?
*i.imgur.com/cIVJb4Z.png

 

[billubakra]

Paytm and Airtel Banks comes under something called Payments Bank. I think you can mail RBI since they are the ones who issue licences.

Mailing RBI won't solve the purpose, that is why there is a Banking Ombudsman. Need to find the same for Payments Bank.

They also need your income details or PAN. Why would anyone need that for doing kYC?
*i.imgur.com/cIVJb4Z.png

Income details/professional details are needed by all banks. Giving PAN is completely your choice, otherwise you can submit Form 60.

Which Flash theme are you using?

 

[whitestar_999]

All aadhaar related issues,no matter the institution(bank,insurance company,mutual fund etc),comes under the purview of UIDAI.Complain by phone,email or through UIDAI portal if you are sure Paytm opened account using aadhaar kyc without taking consent first.
Grievances Redressal - Unique Identification Authority of India | Government of India

 

[Flash]

Income details/professional details are needed by all banks. Giving PAN is completely your choice, otherwise you can submit Form 60.
Which Flash theme are you using?

PayTM says they won't start the bank account, as part of KYC. In that case, why would they require Income or PAN details?
That Flash logo is a custom logo in "Resurrection Remix" ROM, which am using on RN3.

 

[whitestar_999]

Form 60 is applicable only if a person doesn't have PAN & don't want to apply for one because of zero taxable income(aka student,farmer etc).Paytm is not a bank(aka separate from paytm payments bank) so you have all right to refuse to give your pan but if any bank/financial institution ask for pan as per rbi guidelines then you can't refuse to give pan.Submitting form 60 while still having pan is an offence.

 

[billubakra]

@whitestar_999 @Stormbringer @Flash
Is there a way to delete paytm account both wallet and the saving bank one?

 

[whitestar_999]

No idea about wallet but any bank account in India can be closed by giving an application.

 

[billubakra]

No idea about wallet but any bank account in India can be closed by giving an application.

Not in case of payments bank account. Unfortunately there is no nodal or concerned department of paytm whom we can ask the same.

 

[whitestar_999]

All banks in India come under RBI & as per RBI rules any account can be closed by giving application(unless there are some dues pending).
Paytm Payments Bank

 

[billubakra]

All banks in India come under RBI & as per RBI rules any account can be closed by giving application(unless there are some dues pending).
Paytm Payments Bank
View attachment 17414

Thanks. What to do to close the wallet? Can we delete the paytm account?

 

[whitestar_999]

Wording in paytm faq suggests that closing paytm account comes with both options: Only paytm bank or paytm wallet & paytm bank,try it.

 

[billubakra]

Wording in paytm faq suggests that closing paytm account comes with both optionsnly paytm bank or paytm wallet & paytm bank,try it.

Will keep you posted. No hopes from their customer support though.

 

[billubakra]

@whitestar_999
Sent paytm mail to close a paytm wallet and delink a number but they are replying nonsense that complete your kyc, it is already complete, and get benefits blah blah.

 

[Flash]

@whitestar_999
Sent paytm mail to close a paytm wallet and delink a number but they are replying nonsense that complete your kyc, it is already complete, and get benefits blah blah.

Seems you've to put up with their babbbles till the account is deleted.

 

[billubakra]

Seems you've to put up with their babbbles till the account is deleted.

Their customer support sucks brother. Moreover for wallet they don't come under the purview of banking ombudsman.

 

[billubakra]

Your Aadhaar number XXXX XXXX xxxx was used successfully to carry out Authentication using "OTP " on 28/04/2018 at 14:42:50 Hrs at a device deployed by "Paytm Payments Bank Limited" .

Check the last line PPBL, even if you give your aadhar card for the wallet the data goes to their bank and the account is opened.